Penalty for Delayed Payments. If the Authorisee fails to make the Annual Lease rental payments to TSRTC, the Advance Annual Lease Rentals(Security Deposit), (6 months payments on advance basis) and yearly enhancement of advance Annual Lease Rental within the stipulated period, a penalty @ 18% per annum on the outstanding amounts would be effective from and including the due date to excluding the date of payment.
Appears in 2 contracts
Samples: Request for Proposal (Rfp), Request for Proposal (Rfp)
Penalty for Delayed Payments. If the Authorisee fails to make the Annual Lease rental rentals payments to TSRTC, the Advance Annual Lease Rentals(Security Deposit), Rentals (6 months ALRs) (the yearly payments on advance basis) ), Security Deposits and yearly enhancement of advance Annual Lease Rental Rentals within the stipulated period, a penalty @ 18% per annum on the outstanding amounts would be effective from and including the due date to excluding the date of payment.
Appears in 2 contracts
Penalty for Delayed Payments. If the Authorisee fails to make the Annual Lease rental payments to TSRTC, the Advance Annual Lease Rentals(Security Deposit), (6 months one year payments on advance basis) and yearly enhancement of advance 6 months Annual Lease Rental within the stipulated period, a penalty @ 18% per annum on the outstanding amounts would be effective from and including the due date to excluding the date of payment.
Appears in 1 contract
Samples: Request for Proposal (Rfp)
