Late Settlement Clause Samples
Late Settlement. 16.3.1 If you fail to pay the amount due on your dealing account, interest will be payable by you at a typical unauthorised overdraft rate from the due settlement date. This interest rate will be applicable to all debits arising on your account at NatWest unauthorised overdraft rates. Where sales proceeds have been reinvested, interest calculated on a similar basis will be payable by you if you fail to deliver stock and transfer deeds by the due settlement date. Any additional expenses incurred will also be payable by you.
16.3.2 Late settlement will also result in an additional charge of £20.00 per event and may be interpreted as a breach of your contract. We retain the unconditional right of sale of any investments in the account where funds have not been paid to us by the end of the due date. If we are forced to sell investments to meet your obligations dealing commission will be charged at our standard dealing rates.
Late Settlement if the settlement of the sale of the REF Property does not occur within 90 calendar days of the REF Loan advance, your obligation to pay the monthly instalments set out in the Initial Disclosure Statement will commence immediately. If you owe any Unpaid Balance under this Agreement when the sale of the REF Property becomes unconditional, you may repay the remaining amounts on settlement of the sale of the REF Property, subject to us receiving an undertaking from your conveyancing solicitor that complies with clause 30(e). If there are insufficient funds to repay the Unpaid Balance on settlement, you will immediately recommence your monthly instalment obligations set out in the Initial Disclosure Statement until the Unpaid Balance is repaid in full.
Late Settlement. If you fail to pay an amount due, on an ordinary dealing account, interest will be payable by you at a rate of 10% over Bank of Scotland Plc Base Rate as from the due settlement date. This interest rate will be applicable to all debits arising on your account.
Late Settlement. If any portion of the purchase price is not paid upon the due date for payment, then, provided that the vendor provides reasonable evidence of the vendors ability to perform any obligation the vendor is obliged to perform on that date in consideration for such payment: