Common use of Payments and Default Clause in Contracts

Payments and Default. Any amounts not paid when due under this contract will bear interest at the rate of 1.5% per month, not to exceed the maximum rate permitted by law. In addition, if the Exhibitor defaults on any of its obligations under this contract or violates any Exhibition rule or regulation promulgated pursuant to this contract, the Management may, without notice, terminate the Exhibitor’s rights under this contract and may thereupon direct the Exhibitor forthwith to remove its Employees and Agents, and all of its articles or merchandise and other personal property, from the space contracted for and from the Exhibit Hall. In the event of a termination of this contract as a result of any such Exhibitor default or violation the Management may retain all monies paid or payable under this contract as liquidated damages. The Exhibitor will be responsible for any costs reasonably incurred by Management (including reasonable attorney’s fees) in enforcing the Exhibitor’s obligations under this contract.

Payments and Default. Any amounts not paid when due under this contract will bear interest at the rate of 1.511⁄ 2% per month, not to exceed the maximum rate permitted by law. In addition, if the Exhibitor defaults on any of its obligations under this contract or violates any Exhibition rule or regulation promulgated pursuant to this contract, the Management may, without notice, terminate the Exhibitor’s rights under this contract and may thereupon direct the Exhibitor forthwith to remove its Employees and Agents, and all of its articles or merchandise and other personal property, from the space contracted for and from the Exhibit Hall. In the event of a termination of this contract as a result of any such Exhibitor default or violation the Management may retain all monies paid or payable under this contract as liquidated damages. The Exhibitor will be responsible for any costs reasonably incurred by Management (including reasonable attorney’s fees) in enforcing the Exhibitor’s obligations under this contract.