PAYMENT PENALTY Clause Samples

A Payment Penalty clause establishes consequences for a party’s failure to make payments on time as required by the contract. Typically, this clause specifies additional charges, such as late fees or interest, that accrue if payment deadlines are missed, and may outline the process for calculating and collecting these penalties. Its core practical function is to incentivize timely payments and compensate the non-breaching party for delays, thereby reducing the risk of cash flow disruptions and encouraging compliance with agreed payment terms.
PAYMENT PENALTY. The Borrower is eligible to pre-pay the Borrowed Money, at any time, with no pre-payment fee.
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PAYMENT PENALTY. If the Borrower pays any Borrowed Money to the Lender with the specific purpose of paying less interest, there shall be a pre-payment fee of: (check one) ☐ – $[AMOUNT] ☐ – [PERCENT]% of the pre-paid amount.
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PAYMENT PENALTY. If payment of "Fees' to Consultant is not made by July 28, 2008 CXAC agrees to pay Consultant the sum of $343.75 per day until payment "Fees" is delivered to Consultant.
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PAYMENT PENALTY. Due within 15 business days. The following penalty shall apply when payment is received late: 15th‐30th business days after due date‐ 5% 31st‐60th business days after due date‐ 10.5% After 60th business day, with notice‐ 50% 10% penalty shall occur for each 30 days thereafter.
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PAYMENT PENALTY. Subject to Section 11.2(c) below, any Liquidity Drawing or Term Loan may be prepaid at any time with no prepayment penalty.
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Related to PAYMENT PENALTY

  • Late Payment Penalty If any portion of the principal of or interest on this Debenture shall not be paid within ten (10) days of when it is due, the Discount Multiplier under this Debenture shall decrease by one percentage point (1%) for all conversions of this Debenture thereafter.

  • Prepayment Penalty Each Mortgage Loan that is subject to a Prepayment Penalty as provided in the related Mortgage Note is identified on the related Mortgage Loan Schedule. With respect to each Mortgage Loan that has a Prepayment Penalty feature, each such Prepayment Penalty is enforceable and will be enforced by the Seller during the period the Seller is acting as Interim Servicer for the benefit of the Purchaser, and each Prepayment Penalty is permitted pursuant to federal, state and local law. Each such Prepayment Penalty is in an amount not more than the maximum amount permitted under applicable law and no such Prepayment Penalty may be imposed for a term in excess of five (5) years with respect to Mortgage Loans originated prior to October, 1, 2002. With respect to Mortgage Loans originated on or after October 1, 2002, the duration of the Prepayment Penalty period shall not exceed three (3) years from the date of the Mortgage Note unless the Mortgage Loan was modified to reduce the Prepayment Penalty period to no more than three (3) years from the date of the related Mortgage Note and the Mortgagor was notified in writing of such reduction in Prepayment Penalty period. With respect to any Mortgage Loan that contains a provision permitting imposition of a premium upon a prepayment prior to maturity: (i) prior to the Mortgage Loan's origination, the Mortgagor agreed to such premium in exchange for a monetary benefit, including but not limited to a rate or fee reduction, (ii) prior to the Mortgage Loan's origination, the Mortgagor was offered the option of obtaining a mortgage loan that did not require payment of such a premium, and (iii) the Prepayment Penalty is disclosed to the Mortgagor in the mortgage loan documents pursuant to applicable state, local and federal law. This representation and warranty is a Deemed Material and Adverse Representation;

  • Prepayment Penalties Any provisions in your consumer credit contract, loan, security, or account agreements that are determined to be inconsistent with or contradictory to these disclosures or the MLA (as they may be changed or amended from time to time) are inapplicable with regard to this loan. However, all other terms and conditions of the consumer credit contract shall remain in full force and effect.

  • Civil Penalty Payment Pursuant to Health and Safety Code § 25249.7(b)(2), and in settlement of all claims alleged in the Notice or referred to in this Settlement Agreement, L’Occitane agrees to pay two thousand two hundred dollars ($2,200.00) in civil penalties. The penalty payment will be allocated in accordance with California Health and Safety Code §§ 25249.12(c)(1) & (d), with 75% of the penalty amount paid to the California Office of Environmental Health Hazard Assessment (“OEHHA”) and the remaining 25% of the penalty amount retained by EHA. L’Occitane shall issue two separate checks for the initial civil penalty payment to (a) “OEHHA” and (b) Environmental Health Advocates, Inc. as follows: • One payment of $1,650.00 to OEHHA, due fourteen (14) days after the Effective Date. • One payment of $550.00 to EHA, due fourteen (14) days after the Effective Date. All payments owed to OEHHA (EIN: ▇▇-▇▇▇▇▇▇▇), pursuant to this Section shall be delivered directly to OEHHA (Memo Line "Prop 65 Penalties") at the following addresses: For United States Postal Service Delivery: P.O. Box 4010 Sacramento, CA 95812-4010 All penalty payments owed to EHA shall be sent to: ▇▇▇▇▇ ▇▇▇▇▇▇ Environmental Health Advocates ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇

  • Administrative Penalty That Respondent shall pay an Administrative Penalty of $1,000.00 to the Participating States to be distributed equally amongst the Participating States (the “per-state payment”).