Common use of Payment of Rentals Clause in Contracts

Payment of Rentals. 4.1. All rentals shall be paid in advance, by debit order, on either the first or fifteenth working day of each month at the Rentee’s election. In the event that the delivery date does not fall on the first day of the month, the rental for that month will be calculated pro-rata and paid in advance by the Rentee. The last rental payment shall be payable on the date indicated in paragraph 1. 4.2. The Rentee shall not withhold, defer or make any deduction whatsoever from any rental payment due, whether or not the Rentor is indebted to the Rentee or in breach of any obligation to the Rentee. 4.3. The rental and all other amounts payable by the Rentee under this Agreement shall be inclusive of Value Added Tax insofar as it is applicable. 4.4. The total monthly rental shall escalate by 8% (eight) annually, on the anniversary of the Delivery Date. 4.5. If so elected by the Rentee in paragraph 1, the total monthly rental shall fluctuate with the Prime Rate. 4.6. The Rentee shall be liable for interest on all overdue amounts payable in terms of this Agreement calculated at 2% per month, reckoned from the date upon which the payment fell due.

Payment of Rentals. 4.1. All rentals shall be paid in advance, by debit order, on either the first or fifteenth working day of each month at the Rentee’s election. In the event that the delivery date does not fall on the first day of the month, the rental for that month will be calculated pro-rata and paid in advance by the Rentee. The last rental payment shall be payable on the date indicated in paragraph 1. 4.2. The Rentee shall not withhold, defer or make any deduction whatsoever from any rental payment due, whether or not the Rentor is indebted to the Rentee or in breach of any obligation to the Rentee.. Copyright EMFS 4.3. The rental and all other amounts payable by the Rentee under this Agreement shall be inclusive of Value Added Tax insofar as it is applicable. 4.4. The total monthly rental shall escalate by 8% (eight) annually, on the anniversary of the Delivery Date. 4.5. If so elected by the Rentee in paragraph 1, the total monthly rental shall fluctuate with the Prime Rate. 4.6. The Rentee shall be liable for interest on all overdue amounts payable in terms of this Agreement calculated at 2% per month, reckoned from the date upon which the payment fell due.