Common use of PAYMENTS AND DEFAULT INTEREST Clause in Contracts

PAYMENTS AND DEFAULT INTEREST. 13.1 All monies due under the Agreement are to be paid by the Customer by direct debit. To this end, the Customer agrees to complete and return a direct debit form to the Manager within three (3) Working Days of being requested by the Manager to do so. 13.2 Where any part of the Licence Fee, Outgoings or other monies due under the Agreement remains outstanding for more than three (3) Working Days from the due date noted in the relevant invoice, the Manager may charge default interest. Default interest will accrue at the Default Rate (calculated on a daily basis) on the outstanding amount from the due date until the date of payment (inclusive).

PAYMENTS AND DEFAULT INTEREST. 13.1 All monies due under the Agreement are to be paid by the Customer by direct debit. To this end, the Customer agrees to complete and return a direct debit form to the Manager within three (3) Working Days of being requested by the Manager to do so. 13.2 Where any part of the Licence Rental Fee, Outgoings or other monies due under the Agreement remains outstanding for more than three (3) Working Days from the due date noted in the relevant invoice, the Manager may charge default interest. Default interest will accrue at the Default Rate (calculated on a daily basis) on the outstanding amount from the due date until the date of payment (inclusive).