Penalties and Interest Sample Clauses
The Penalties and Interest clause establishes the consequences for late payments or breaches of financial obligations under the agreement. Typically, it specifies that if a party fails to pay amounts due by the agreed deadline, they will incur additional charges, such as a fixed penalty fee or a percentage-based interest on the overdue amount. This clause serves to incentivize timely payments and compensates the non-breaching party for the inconvenience or financial impact of delayed funds, thereby promoting financial discipline and reducing the risk of payment defaults.
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Penalties and Interest. No Company Group Member has since incorporation paid or become liable to pay, nor are there any circumstances known to the Vendor by reason of which the Company Group Member is likely to become liable to pay any fine, penalty, surcharge or interest whether charged by virtue of the provisions of any Tax Law.
Penalties and Interest. If the Lessee does not comply with its obligations under this Lease or with its obligations under GST Legislation in connection with this Lease and as a result the Council becomes liable for penalties or interest for late payment of GST, then the Lessee must pay the Council on demand an amount equal to the amount of the penalties and interest.
Penalties and Interest. Any penalties or interest imposed in connection with any Taxes described in Section 2.02(a), (b) or (c) shall be the responsibility of the Company that is responsible for the underlying Tax, unless such penalties or interest are the result of an action or failure to act by the other Company or any of its Affiliates.
Penalties and Interest. Tenant shall pay or cause to be paid every fine, penalty, interest and cost which may be added for non-payment or late payment of the items referenced in this Section 3.4. Tenant shall prepare and file at its expense, to the extent required or permitted by Applicable Laws, all tax returns and other reports in respect of any Additional Charge as may be required by Governmental Agencies.
Penalties and Interest. If the Customer is required to withhold taxes under Clause 4 above or pay any other taxes in connection with this Agreement and fails to withhold the taxes at the correct rate or to remit the taxes withheld or pay any taxes (as applicable) to the relevant Government Agency within the time prescribed by the applicable law, the Customer shall be responsible for payment of any penalties or interest which are incurred as a result, and ▇▇▇▇▇ shall have no liability to reimburse the Customer for such penalties and/or interest incurred.
Penalties and Interest. Where We become liable for any penalties or interest as a result of the late payment of GST due to your failure to comply with the terms of our CRA (including this clause 11) or your obligations under any applicable law, then you must pay to us an additional amount equal to those penalties and interest.
Penalties and Interest. 10.4.1 The Company has paid all Taxation for which it is liable to account to the relevant Tax Authority on the due date for payment thereof and is under no liability to pay any penalty or interest in connection therewith.
10.4.2 The Company has not nor had any director or officer of the Company paid, or become liable to pay, any fine, penalty or interest charged by virtue of any statutory provision relating to Taxation of the Company.
Penalties and Interest. No Group Company has within the past three years paid or become liable to pay any material interest, penalty, surcharge or fine relating to Taxation.
Penalties and Interest. Stewardship Ontario shall impose penalties and interest on a ▇▇▇▇▇▇▇ or Voluntary Reporter in accordance with the Penalty and Interest Policy in Appendix F and on the Stewardship Ontario website.
Penalties and Interest. Lessee shall pay penalties and interest on late royalty payments, minimum royalty payments, and other sums due, and for failure to provide documents, as provided by law or the Rules. The right to collect penalties and interest is in addition to, and shall not in any way limit or restrict, the rights of Lessor or the Board of Regents to pursue other remedies in law or in equity, including without limitation forfeiture of this Lease.