Payment penalty definition

Payment penalty means the actual reduction in payment resulting from the pay factor. “Superintending Officer” - shall mean any person who from time to time shall be entrusted to superintend the works on behalf of the Council.
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Payment penalty means the actual reduction in payment resulting from the pay factor. “Superintending Officer” - shall mean the nominated Local Government Officer.
Sample 1Sample 2
Payment penalty means the actual reduction in payment resulting from the pay factor.
Sample 1

Examples of Payment penalty in a sentence

  • A scheduled Lease Payment not made by the sixth calendar day succeeding the scheduled Lease Payment Date shall, upon written notice from the Lessor, begin accruing a late Lease Payment penalty, calculated at the applicable lease interest rate, on a pro-rata basis, against the scheduled Lease Payment due.

  • Any late Lease Payment penalty shall be determined in accordance with this subparagraph, for the late payment of scheduled Lease Payments.

  • A scheduled Lease Payment not made by the sixth calendar day succeeding the scheduled Lease Payment Date shall, upon written notice from the Lessor, begin accruing a late Lease Payment penalty, calculated at the applicable lease interest rate, on a prorata basis, against the scheduled Lease Payment due.

  • In the event that an invoice is not paid in full, amounts received by Southwestern shall be applied first to outstanding Late Payment penalty and administrative charges; second to outstanding daily interest charges for late payments assessed on the principal; and finally, to payment of the principal amount past due, unless a different rule is prescribed by Federal statute or regulation.

  • With respect to PILOT Payments, if said payment is not received by the payment due date, the Company shall pay, in addition to the PILOT Payment, a late charge equal to four percent (4%) of the amount due plus interest on said payment equal to one percent (1%) per month or fraction thereof until the PILOT Payment, penalty and interest is paid in full.

  • In the event Lessor fails to receive any Lease Payment on or before the tenth (10th) day of the month, a Late Payment penalty equal to 10% per annum of such payment shall be charged to Lessee.

  • In the event Lessor fails to receive any Lease Payment within 10 days after the date same is due, a Late Payment penalty equal to 10% of such payment shall be charged to Lessee.

  • In the event Lessor fails to receive any Lease Payment on or before the tenth (10th) day of the month, a Late Payment penalty equal to 10% of such payment shall be charged to Lessee.

  • With respect to PILOT Payments, if said payment is not received by the Payment Due Date, the Company shall pay, in addition to the PILOT Payment, a late charge equal to four percent (4%) of the amount due plus interest on said payment equal to -one percent (1%) per month or fraction thereof until the PILOT Payment, penalty and interest is paid in full.

  • If the financing conditions above are met by the Buyer and the Business does not recognize at least 50% of the targeted net revenue and/or net profit for any three-month period in the Post-Closing Period, then the Buyer will no longer be obligated to fund the Business according to this Section and the Contingent Payment penalty shall be null and void.

Related to Payment penalty

  • Administrative penalty means a monetary fine imposed by the division for acts or

  • Late Payment Charge means the charge that is applied when either Party fails to remit payment for any charges by the Bill Due Date, or if payment for any portion of the charges is received after the Bill Due Date, or if payment for any portion of the charges is received in funds which are not immediately available or received by either Party as of the Bill Due Date, or if either Party does not submit the Remittance Information.

  • Due Date The day of the month on which the Monthly Payment is due on a Mortgage Loan, exclusive of any days of grace.

  • Payment Due Date means the date by which the Date of Payment must occur, in accordance with the provisions of Sections 504.3 through 504.5 of this Exhibit, in order for NYSERDA not to be liable for interest pursuant to Section 504.6.

  • Payment means any payment or distribution in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of the Executive, whether paid or payable pursuant to this Agreement or otherwise.