Penalties for back payments. Both Parties agree that the penalties mentioned in Articles 6.5.2, 6.7.4 and 6.9 of the Contract will be applicable as follows: The current legal interest rate plus points (i.e. 300 base points), calculated from the day following the contractual due date of the unpaid invoice. For late declarations (whatever the reason for the delay) giving rise to retroactive invoices, the penalty charges will be calculated as of the date on which the invoice should have been paid if it had been drawn up within the correct contractual deadlines, based on a sales declaration made in keeping with the requirements of this Contract. Penalties will be applied in the same manner to retroactive payments required after Audit due to Under-Declarations or Mistaken Declarations by Members or in cases of Late Sign-up.
Penalties for back payments. The Parties agree that the penalties mentioned in Articles 6.5.2, 6.7.4, and 6.9 of the Contract will be applicable as follows: • The current legal interest rate plus three points (i.e. 300 base points), calculated from the day following the contractual due date of the unpaid invoice. For late declarations (whatever the reason for the delay) giving rise to retroactive invoices, the penalty charges will be calculated as of the date on which the invoice should have been paid if it had been drawn up within the correct contractual deadlines, based on a sales declaration made in keeping with the requirements of this Contract. Penalties will be applied in the same manner to retroactive payments required after Audit, due to erroneous or missing declarations by Members, or in cases of Late Sign-Up.
