Late Payment Collection Clause Samples
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Late Payment Collection. If a Party (for purposes of this , the “Notifying Party”) determines in good faith that another Party failed to pay any sum (in immediately available funds) when due and owing (for purposes of this , the “Notified Party”), then, the Notifying Party shall promptly send written notice of such determination to the Notified Party. If the Notified Party either (i) acknowledges that such amounts are due and owing but fails to make such payment within five (5) Business Days of receiving such notice or (ii) denies that such amounts are due, the Notified Party shall reimburse the Notifying Party for all costs incurred in collecting any payments conclusively determined to have been overdue and related interest, including, without limitation, reasonable attorneys’ fees, legal costs, court costs and collection agency fees; provided, however, that if a court or neutral arbiter determines that no amounts had been due or owing at the time the Notifying Party delivered its notice to the Notified Party, the Notifying Party will reimburse the Notified Party for all costs incurred in defending itself, including, without limitation, reasonable attorneys’ fees, legal costs, court costs and collection agency fees. For the avoidance of doubt, any amounts paid pursuant this will not also be deemed Losses for the purposes of indemnification under Article VI.
Late Payment Collection. ENGINEER may assess a carrying charge of 1.5 percent per month on progress payments not made within thirty (30) days of the date of invoice, which charge CLIENT warrants will be paid on demand. ENGINEER may, in its sole discretion and without notice, suspend or terminate its services under this Agreement should CLIENT not pay the amount invoiced within forty-five (45) days of the date of invoice. ENGINEER further reserves the right to withhold from CLIENT any instruments of ENGINEER's service, or copies thereof, developed for CLIENT under this Agreement pending payment on CLIENT's outstanding indebtedness. If it becomes necessary to refer the account to a collection agency CLIENT agree to pay all costs, not limited to, attorney’s fees, court costs, costs of preparing documents for court and collection agency fees, whether incurred by filing a lawsuit or otherwise.
Late Payment Collection. If you fail to make any payment within 10 days after the Due Date, you agree that we may terminate the License upon 5 days prior notice to you and that we may enter the premises where the Equipment is located and remove the same at any time during normal business hours. You agree to pay the costs to remove the Equipment and return it to our principal facility. If we take action to collect amounts due to us under this Agreement, you agree to pay all our costs of collection, including reasonable attorney’s fees.