Common use of Late Notice Clause in Contracts

Late Notice. If any amounts for which Customer is responsible are overdue, then EO shall provide Customer with written notice of the same (a “Late Notice”). If Customer fails to pay all overdue amounts within 10 business days after Customer’s receipt of the Late Notice or within 30 days of invoice due date, whichever is earlier, then EO, in addition to any of its other rights or remedies: (a) may terminate the Agreement, including all outstanding Orders; and (b) shall be entitled to recover from Customer all of the following: (i) interest on all overdue amounts at the lower of a rate of 1.5% per month or the maximum rate permitted by law (“Interest”); (ii) all remaining amounts due for the remainder of the Term; and (iii) all fees and costs (including reasonable attorneys’ fees, court costs and collection agency fees) incurred in seeking collection of such overdue amounts (“Collection Costs”); and (c) may suspend access to the Services and/or Products.