Late Payments; Interest Sample Clauses
The "Late Payments; Interest" clause establishes the consequences and procedures when a payment is not made on time under a contract. Typically, this clause specifies that if a party fails to pay an invoice or amount due by the agreed deadline, interest will accrue on the overdue sum at a predetermined rate, often calculated daily or monthly until payment is received. This mechanism incentivizes timely payments and compensates the payee for the delay, ultimately helping to ensure financial discipline and mitigate losses caused by late payments.
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Late Payments; Interest. Any portion of any fee or other amount payable hereunder that is not paid when due will accrue interest at one and one-half percent (1.5%) per month or the maximum rate permitted by applicable law, whichever is less, from the due date until paid.
Late Payments; Interest. County shall be entitled to collect interest at the rate of eighteen percent (18%) per annum from the date due until the date paid for any amounts payable under this Agreement. The right of County to require payment of interest and the obligation of Lessee to pay interest to County shall be in addition to, and not in lieu of, the right of County to enforce any other remedy provided in this Agreement or under applicable law.
Late Payments; Interest. If Videocon or any Sublicensee fails to make any payment of Percentage Royalties, Technology Transfer Fees or other amount due under this Agreement to CopyTele within ten business days of its due date, Videocon or such Sublicensee shall, in addition to and without limitation of CopyTele's other remedies hereunder, pay to CopyTele interest thereon from the date ten business days after its due date until paid at the annual rate equal to LIBOR then in effect plus 5% per annum; provided that in no event shall the rate of interest required hereunder exceed the maximum rate permitted under applicable law.
Late Payments; Interest. Landlord shall be entitled to collect interest at the highest non-usurious rate permitted by law per annum from the date any sum is due to Landlord until the date paid on any amounts that are not paid within ten (10) days of their due date under this Lease. The right of Landlord to require payment of such interest and the obligation of Tenant to pay same shall be in addition to and not in lieu of the right of Landlord to enforce other provisions herein and to pursue other remedies provided by law.
Late Payments; Interest. Hardball acknowledges that time is of the essence in making all payments required by this Agreement, and if any such payments are not remitted on the date due, Hardball shall pay interest at the rate of one and one half percent (1.5%) per month from such due date until full payment thereof is made.
Late Payments; Interest. All payments shall bear interest from the date due until paid (including any adjustments made as a consequence of audit in accordance with Section 12.2) at a rate equal to the prime rate effective for the date that payment was due plus three percent (3%), as quoted by the Wall Street Journal, New York Edition, on the date such payment was due, or, if less, the maximum rate permitted by applicable law.
Late Payments; Interest. Tenant shall pay to County interest at the rate of one and one-half percent (1.5%) per month on any late payments commencing ten (10) days after the amounts are due. The Department, in its sole and absolute discretion, may elect to waive the aforementioned late fees in appropriate circumstances as determined by the Department.
Late Payments; Interest. Per C.R.S. § 24-30-202(24), the University shall pay each invoice within thirty (30) days of receipt thereof, for the work performed by Contractor and accepted by the University. If the University contests any amount invoiced, it shall pay the uncontested amount and provide a written statement of the reason(s) for withholding the remaining amount together with such partial payment. Uncontested amounts not paid by the University within forty-five (45) days after due date shall bear interest on the unpaid balance beginning on the forty-sixth (46th) day at a rate not to exceed one percent (1.0%) per month until paid in full; provided, however, that interest shall not accrue on unpaid amounts that are subject to a good faith dispute. Contractor shall invoice the University separately for accrued interest on delinquent amounts. The billing shall reference the delinquent payment, the number of days’ interest to be paid, and the interest rate.
Late Payments; Interest. All payments under this Agreement shall bear interest from the date due until paid at a rate equal to the prime rate effective for the date that payment was due, plus [***] percent ([***]%), as quoted by the Wall Street Journal, New York Edition, on the date such payment was due, or, if less, the maximum rate permitted by applicable law.
Late Payments; Interest. In the event that any payment due hereunder is not made when payable, the payment shall accrue interest beginning on the [***] following the due date thereof, calculated at the rate of [***] per month from the date said payment is due, provided however, said annual interest rate shall not exceed the maximum legal interest rate for corporations. Each such payment when made shall be accompanied by all interest so accrued. The payment of any such interest and acceptance thereof shall not negate or waive the right of Juno to seek any other remedy, legal or equitable, to which it may be entitled because of the delinquency of any payment Including termination of this Agreement.