DEFAULT OF PAYMENT. 32.1 A) If any contractor shall default in remitting payments required to be made to funds pursuant to the terms of this Collective Agreement, and default shall continue for ten (10) days or more, the contractor shall pay to the applicable Trust Fund as liquidated damages and not as a penalty, an amount equal to 10% of the arrears for each month or part thereof in which the contractor is in default. The failure to pay each month shall constitute a separate offense, and shall subject the Contractor to the 10% payment. Thereafter interest shall run at the rate of 2% per month on any unpaid arrears, including liquidated damages.
DEFAULT OF PAYMENT. If any contractor shall default in remitting payments required to be made to Trust Funds pursuant to the terms of this Collective Agreement, and default shall continue for ten days or more, then in addition to any other remedy available to the Local Union, such defaulting contractor shall pay to the Trustees, as liquidated damages and not as a penalty, an amount equal to 5% of the arrears for each month or part thereof during which such default continues. The said damages shall become due and payable upon the 21st day of the month following the month for which contributions were to be made. The 5% of the said arrears shall become due and be payable by such contractor on the 21st day of each successive month while default continues. For the purpose of calculating the 5% as aforesaid, "arrears" shall be deemed to include all accumulated damages remaining unpaid. The foregoing "Default of Payment Clause" shall apply to the following trust funds: Article 17 _ Union Deductions Article 9 _ Holiday & Vacation Pay Trust Funds Article 15 _ Health and Welfare Article 16 _ Pension Fund Article 18 - Labour Service Fee
DEFAULT OF PAYMENT. 22.1 If any Contractor shall default in remitting payments required to be made pursuant to this Article within the time specified, and default shall continue for ten (10) days or more, then in addition to any other remedy available to Local Union 46 or to any employees, such defaulting Contractor shall pay to the Trustees, or to the Association in the case of Industry Fund Payments, as annualized interest rates and not as a penalty, an amount equal to ten percent (10%) of the arrears for each month or part thereof during which such default continues. The said damages shall become due and be payable upon the 21st day of the month following the month for which contributions were to be made. The ten percent (10%) of the said arrears shall become due and be payable by such Contractor on the 21st day of each successive month while default continues. For the purpose of calculating the ten percent (10%) as aforesaid, “arrears” shall be deemed to include all accumulated damages remaining unpaid, or: Default in remitting such payments or any wages or other remuneration required to be paid hereunder, shall be deemed to constitute default in payment of wages and shall be in addition to the damages aforesaid, entitle Local Union 46 upon notice by registered mail that unless all payments have been made up to date, the said Union may withdraw the services of any employee or employees, 72 hours after receipt of said notice of such withdrawal, the employee or employees shall continue to be in the employ of the Contractor and shall not be discharged or otherwise disciplined by the Contractor, and shall be entitled to be paid as damages an amount equal to the wages based upon ordinary hours of labour and including all fringe benefits which he/she would have earned had he/she remained at work. The said employee or employees shall return to work forthwith upon the Contractor remitting the payment of damages owing.
DEFAULT OF PAYMENT. 16.01 If any contractor shall default in remitting payments required to be made pursuant to this Article within the time specified, and default shall continue for ten days or more, then in addition to any other remedy available to Local Union 46 or to any employees, such defaulting Contractor shall pay to the Trustees, as liquidated damages and not as a penalty, an amount equal to five percent of the arrears for each month or part thereof during which such default continues. The said damages shall become due and be payable upon the 21st day of the month, following the month for which contributions were to be made. The five percent of the said arrears shall become due and be payable by such Contractor on the 21st day of each successive month while default continues. For the purpose of calculating the five percent as foresaid, “arrears” shall be deemed to include all accumulated damages remaining unpaid.
DEFAULT OF PAYMENT. Amounts owing in Canadian Dollars which are not paid when due shall bear interest at that annual rate per annum equal to the Prime Rate plus [Redacted] bps. Amounts owing in U.S. Dollars which are not paid when due shall bear interest at that annual rate per annum equal to the U.S. Base Rate plus [Redacted] bps. Interest payable under this paragraph shall be calculated daily for the actual number of days elapsed, be payable upon demand and, to the extent permitted by law, compounded monthly until paid. The rights of BNS under this paragraph shall continue to apply from the date of non payment for so long as such failure to pay shall continue, both before and after demand and judgment.
DEFAULT OF PAYMENT. Without prejudice to any damages and interest, the failure of the Client to pay an invoice when due automatically entails: ● the application of a late interest equal to the legal interest rate, without prior notice and from the first day of delay; ● additional banking and management fees (tracking of recovery, letters and telephone charges, representation of bank levies); ● the immediate suspension of the Services; ● termination of the Contract in full within 15 days after the Service Provider sends a formal notice by registered letter with acknowledgment of receipt remained without effective response.
DEFAULT OF PAYMENT. 5.1 If a Solicitor or Debt Collector is instructed by the Company all costs incurred in the recovery of overdue funds, including but not limited to, debt collection or legal fees, may be added to the balance of your account.
DEFAULT OF PAYMENT. Should payments for SUBSCRIPTIONS not be made in a timely manner, ANYLINE shall charge interest on arrears at the statutory rate of currently 8.5% or a higher interest rate permitted by law on all outstanding payments. In addition, ANYLINE shall be reimbursed for all reasonable costs incurred in the collection of overdue licence payments, including, but not limited to, legal fees, reminder fees, etc.
DEFAULT OF PAYMENT. If Party A fails to pay the amount due on time, Party A shall pay a penalty of 0.05% of the amount due for each day of delay, and the accumulated penalty shall not exceed the amount of the contract guarantee deposit. If the payment is not made within 30 natural days after the due date, Party B has the right to suspend the performance of this contract; at the same time, the contract guarantee deposit specified in the contract will not be refunded.
DEFAULT OF PAYMENT. 5.5.1 The Approved Activity Provider fails to pay (i) when and as required to be paid any fee due under this agreement, and/or (ii) any interest payable in the terms specified under this Agreement.
