Amount Owing definition
Examples of Amount Owing in a sentence
MODNframe reserves the right to charge interest on any Amount Owing but not in addition to any Amount Owing in respect of which interest is payable under clause 14.4. If it determines to do so, interest will accrue at 4% above the retail lending base rate at the Bank of New Zealand as varied from time to time and calculated on a daily basis on the unpaid portion of the relevant Amount Owing and will be payable in the manner specified by MODNframe.
Subject to the following provisions in this section 10, legal and beneficial ownership ("ownership") of the Product remains with MODNframe and does not pass to the Purchaser until the Purchaser: pays the Amount Owing and any other moneys owing by the Purchaser to MODNframe from time to time, whether in relation to the Agreement or any other agreement or on any other account whatever ("Purchaser's Indebtedness"); or resells the Product pursuant to the authority granted by these terms.
No Product shall be returned unless MODNframe has agreed in advance MODNframe may, at its discretion, delay the repair or replacement of, or the refund of the price of, any Product for so long as the Purchaser is in default in relation to the Amount Owing.