Common use of Liabilities for Breach of the Agreement Clause in Contracts

Liabilities for Breach of the Agreement. 11.1. If Party A fails to pay Party B when it becomes due under the Agreement, any Investment Management Services fee, performance-based bonus or Third Party Cost and Expense incurred by Party B while engaging a third party in Party B's own name in accordance with Section 6.1, Party A shall pay to Party B a sum equal to 0.05% of such amount due for each day that such amount is outstanding until it is paid in full.