Penalties and late payment interest. Each of the French Sellers shall remain entitled to waive its rights to any penalties and late payment interests payable by the Debtors in relation to the Transferred Receivables and to make corresponding adjustments to its books. For this purpose, each of the French Sellers shall verify the Asset Account by all means at its disposal. As specified in Clause 3.2, invoices corresponding to penalties and late payment interests are Excluded Receivables.
Appears in 4 contracts
Samples: Factoring Agreement, Factoring Agreement (Constellium N.V.), Factoring Agreement (Constellium Holdco B.V.)
