Common use of Default or late payment Clause in Contracts

Default or late payment. If the Client fails to make any payment due to OVH under the Contract by the due date for payment, then, the Client shall pay interest on the overdue amount at the rate of [X]% per annum above the Bank of England's base rate from time to time. Such interest shall accrue on a daily basis from the due date until actual payment of the overdue amount, whether before or after judgment. The Client shall pay the interest together with the overdue amount. Furthermore, any default or delay of payment (including partial) of the sums due by the Client under the Contract persisting for more than four (4) calendar days after notification of default or delay of payment sent to the Client by email, shall result by right, and without requiring any additional notification or formal notice, in (a) the immediate demand of all of the sums remaining due by the Client under the Contract regardless of their payment terms, and (b) the right of OVH to decide to immediately suspend, and without prior notice, all or part of the Client Services (including those which have been paid for), and to refuse any new Order or renewal of Services and to terminate all or part of the Contract.