Penalty for Delayed Payment. If payment of annual lease rent or any other supplementary xxxx in respect of tax etc is delayed beyond their due date, Lessee shall pay interest at the rate of 24% per annum for the delayed period. If the payment is delayed beyond 30 days from the due date of payment, Lessor shall present the LC established by Lessee as per the Clause 5.0, in the Bank to draw the amount.
Appears in 4 contracts
Samples: Land Sub Lease Agreement, Land Sub Lease Agreement, kredlinfo.in
Penalty for Delayed Payment. If payment of annual lease rent or any other supplementary xxxx bill in respect of tax etc is delayed beyond their due date, Lessee shall pay interest at the rate of 24% per annum for the delayed period. If the payment is delayed beyond 30 days from the due date of payment, Lessor shall present the LC established by Lessee as per the Clause 5.0, in the Bank to draw the amount.
Appears in 2 contracts
Samples: Land Sub Lease Agreement, kredlinfo.in
Penalty for Delayed Payment. If payment of annual lease rent or any other supplementary xxxx in respect of tax etc is delayed beyond their due date, Lessee shall pay interest at the rate of 2418% per annum for the delayed period. If the payment is delayed beyond 30 days from the due date of payment, Lessor shall present the LC LC, established by Lessee as per the Clause 5.0, in the Bank to draw the amount.
Appears in 1 contract
Samples: Land Lease Agreement
Penalty for Delayed Payment. If payment of annual lease rent or any other supplementary xxxx in respect of tax etc etc. is delayed beyond their due date, Lessee shall pay interest at the rate of 24% per annum for the delayed period. If the payment is delayed beyond 30 days from the due date of payment, Lessor shall present the LC established by Lessee as per the Clause 5.0, in the Bank to draw the amount.
Appears in 1 contract
Samples: Land Sub Lease Agreement
Penalty for Delayed Payment. If payment of annual lease rent or any other supplementary xxxx bill in respect of tax etc etc. is delayed beyond their due date, Lessee shall pay interest at the rate of 24% per annum for the delayed period. If the payment is delayed beyond 30 days from the due date of payment, Lessor shall present the LC established by Lessee as per the Clause 5.0, in the Bank to draw the amount.
Appears in 1 contract
Samples: Land Sub Lease Agreement
