Penalty For Late Payments. Many Lessors will seek to impose a penalty amount when the Lessee does not pay the equipment rental amount on time. If this will be the case, then the number of days after a missed payment’s due date should be set as a grace period made given to the Lessee. It will be expected that the first day the penalty is added to the Equipment Xxxxxx’s account will be the final day of the grace period. Additionally, a record of the exact penalty amount should be solidified in the statement being made. Once done, this statement shall declare that upon a certain number of days after the missed payment date, the penalty amount will be added to the Lessee’s bill.
Penalty For Late Payments. Any amounts due and owing by Purchaser to Reliant under Sections 3.2 and/or 3.3 that are not paid in full by the respective payment dates provided therein shall accrue interest at the lower of (a) the “prime rate” as reported in The Wall Street Journal plus 400 basis points, and (b) the highest rate allowed under applicable law.
Penalty For Late Payments. Many Lessors will seek to impose a penalty amount when the Lessee does not pay the equipment rental amount on time. If this will be the case, then the number of days after a missed payment’s due date should be set as a grace period made given to the Lessee.
Penalty For Late Payments. Many Lessors will seek to impose a penalty amount when the Lessee does not pay the equipment rental amount on time.
Penalty For Late Payments. Any payments described in this Section 4.04 or 579 elsewhere in the AGREEMENT that are received by the CITY after the due date will be assessed 580 a late penalty equal to twenty-five percent (25%) of the original amount due. Failure by 581 FRANCHISEE to pay both the original payment amount and the late penalty within thirty (30) days 582 of written notice of the delinquency by the CITY will be considered an event of default, and the 583 CITY may terminate the AGREEMENT immediately. 585 amount is in-fact the correct amount, nor shall such acceptance of payment be construed as a 586 release of any claim CITY may have against FRANCHISEE for any additional sums payable under 587 the provisions of this AGREEMENT. All amounts paid shall be subject to independent audit and 588 recompilation by CITY. If, after the audit, such recompilation indicates an underpayment 589 FRANCHISEE shall pay to CITY the amount of the underpayment and shall reimburse CITY for 590 all reasonable costs and expenses incurred in connection with the audit and recompilation within 591 ten (10) Work Days of receipt of written notice from CITY that such is the case. If, after audit, such 592 recompilation indicates an overpayment, CITY shall notify the FRANCHISEE in writing of the 593 amount of the overpayment, less costs and expenses incurred in connection with the audit and 594 recompilation. FRANCHISEE may offset the amounts next due following receipt of such written 595 notice by the amount specified therein. 596 ARTICLE 5. Minimum Diversion Requirements
Penalty For Late Payments. In the event the Company, for any reason, fails to make any payment due to Executive under this Section 2 within 10 business days of the date it is due, including, without limitation, amounts to be paid out of the escrow account contemplated by Section 2(d)(i), then the rate of interest on such payment shall increase to 18% per annum commencing on the due date of that installment and continuing at such rate until actual payment of such installment, and the Company shall also pay to Executive a late fee in the amount of 5% of that installment.
Penalty For Late Payments. Any payments described in this Section 4.04 or elsewhere in the AGREEMENT that are received by the TOWN after the due date of the fifteenth (15th) day of the month will be assessed a late penalty equal to twenty-five percent (25%) of the original amount due. Failure by FRANCHISEE to pay both the original payment amount and the late penalty within thirty (30) days of written notice of the delinquency by the TOWN will be considered an event of default, and the TOWN may terminate the AGREEMENT immediately.
Penalty For Late Payments. Every invoice for undisputed charges that is not paid in full within thirty (30) of the date of the invoice shall be subject to interest on the unpaid balance. The interest charged will be one and one-half percent (1.5%) per month on the unpaid balance.
Penalty For Late Payments. Any payments described in this Section 4.04 or elsewhere in the Agreement that are received by the CITY after their due date will be assessed a late penalty equal to twenty-five percent (25%) of the original amount due. Failure by LICENSEE to pay both the original payment amount and the late penalty within thirty (30) days of being notified of the late payment by the CITY will be considered an event of default, and the CITY may terminate the Agreement immediately.
Penalty For Late Payments. If payment is not made within thirty days as agreed, interest shall be due on the unpaid balance at a rate of eighteen percent (18%) per year. If there is a collection action, the prevailing party in such suit shall be entitled to an award of a reasonable attorney's fee and costs of action.
