INTEREST ON DELAYED PAYMENT. With respect to default in making any payment due in terms of this Agreement by one Party to the other, the defaulting Party shall be liable to pay interest at PLR on the total sum outstanding and for the period the payment has remained over due. Without prejudice to the foregoing, in the event the Purchaser fails to pay the overdue amount along with the interest within such thirty (30) days, the Seller shall be entitled to encash the Security Deposit and/or the Financial Coverage BG and suspend Coal supplies in accordance with Clause 13. For removal of doubts, it is clarified that it shall be permissible for the Seller to adjust or recover the interest due in terms of this Clause from the Security Deposit and/or the Financial Coverage BG.
Appears in 6 contracts
Samples: Supply Agreement, archive.coalindia.in, www.mahanadicoal.in
INTEREST ON DELAYED PAYMENT. With respect to default in making any payment due in terms of this Agreement by one Party to the other, the defaulting Party shall be liable to pay interest at PLR on the total sum outstanding and for the period the payment has remained over due. Without prejudice to the foregoing, in the event the Purchaser fails to pay the overdue amount along with the interest within such thirty (30) days, the Seller shall be entitled to encash the Security Deposit and/or the Financial Coverage BG and suspend Coal supplies in accordance with Clause 1314. For removal of doubts, it is clarified that it shall be permissible for the Seller to adjust or recover the interest due in terms of this Clause from the Security Deposit and/or the Financial Coverage BG.
Appears in 5 contracts
Samples: d3u7ubx0okog7j.cloudfront.net, Date of Agreement, mahanadicoal.in
INTEREST ON DELAYED PAYMENT. With respect to default in making any payment due in terms of this Agreement by one Party to the other, the defaulting Party shall be liable to pay interest at PLR on the total sum outstanding and for the period the payment has remained over due. due Without prejudice to the foregoing, in the event the Purchaser fails to pay the overdue amount along with the interest within such thirty (30) days, the Seller shall be entitled to encash the Security Deposit and/or the Financial Coverage BG and suspend Coal supplies in accordance with Clause 1314. For removal of doubts, it is clarified that it shall be permissible for the Seller to adjust or recover the interest due in terms of this Clause from the Security Deposit and/or the Financial Coverage BG.
Appears in 3 contracts
Samples: Supply Agreement, Supply Agreement, westerncoal.in
INTEREST ON DELAYED PAYMENT. With respect to default in making any payment due in terms of this Agreement by one Party to the other, the defaulting Party shall be liable to pay interest at PLR of SBI on the total sum outstanding and for the period the payment has remained over due. Without prejudice to the foregoing, in the event the Purchaser fails to pay the overdue amount along with the interest within such thirty (30) days, the Seller shall be entitled to encash the Security Deposit and/or the Financial Coverage BG and suspend Coal supplies in accordance with Clause 1314. For removal of doubts, it is clarified that it shall be permissible for the Seller to adjust or recover the interest due in terms of this Clause from the Security Deposit and/or the Financial Coverage BG.
Appears in 2 contracts
Samples: Date of Agreement, Date of Agreement
INTEREST ON DELAYED PAYMENT. With respect to default in making any payment due in terms of this Agreement by one Party to the other, the defaulting Party shall be liable to pay interest at PLR of SBI on the total sum outstanding and for the period the payment has remained over due. Without prejudice to the foregoing, in the event the Purchaser fails to pay the overdue amount along with the interest within such thirty (30) days, the Seller shall be entitled to encash the Security Deposit and/or the Financial Coverage BG and suspend Coal supplies in accordance with Clause 13. For removal of doubts, it is clarified that it shall be permissible for the Seller to adjust or recover the interest due in terms of this Clause from the Security Deposit and/or the Financial Coverage BG.
Appears in 2 contracts
Samples: westerncoal.in, www.westerncoal.in
INTEREST ON DELAYED PAYMENT. With respect to default in making any payment due in terms of this Agreement by one Party to the other, the defaulting Party shall be liable to pay interest at PLR of SBI on the total sum outstanding and for the period the payment has remained over due. due Without prejudice to the foregoing, in the event the Purchaser fails to pay the overdue amount along with the interest within such thirty (30) days, the Seller shall be entitled to encash the Security Deposit and/or the Financial Coverage BG and suspend Coal supplies in accordance with Clause 1314. For removal of doubts, it is clarified that it shall be permissible for the Seller to adjust or recover the interest due in terms of this Clause from the Security Deposit and/or the Financial Coverage BG.
Appears in 2 contracts
Samples: Supply Agreement, Supply Agreement
