Common use of Effect of Non-Payment Clause in Contracts

Effect of Non-Payment. If all or part of any payment due from the Purchaser to TOMRA under the Agreement is not paid by the date for payment specified in Clause 8.2, TOMRA shall be entitled to give notice to the Purchaser requiring payment. If such non-payment persists for more than thirty (30) calendar days after the date for payment specified in Clause 8.2, such failure is agreed to be a material breach of contract, and TOMRA shall be entitled to (i) give notice to the Purchaser requiring it to remedy such breach in accordance with Clause 16.2.; and (ii) claim eight (8) % interest p.a. for the outstanding amount due beginning on the applicable due date provided in Clause 8.2 .

Effect of Non-Payment. If all or part of any payment due from the Purchaser to TOMRA under the Agreement is not paid by the date for payment specified in Clause 8.2, TOMRA shall be entitled to give notice to the Purchaser requiring payment. If such non-payment persists for more than thirty (30) calendar days after the date for payment specified in Clause 8.2, such failure is agreed to be a material breach of contract, and TOMRA shall be entitled to (i) give notice to the Purchaser requiring it to remedy such breach in accordance with Clause 16.2.; and (ii) claim eight (8) % interest p.a. for the outstanding amount due beginning on the applicable due date provided in Clause 8.2 8.2.