Non-Compliance Fee Clause Samples
A Non-Compliance Fee clause establishes a financial penalty that a party must pay if they fail to meet specific contractual obligations. Typically, this clause outlines the circumstances under which the fee is triggered, such as missing deadlines, violating agreed-upon standards, or breaching certain terms, and specifies the amount or method for calculating the fee. Its core practical function is to incentivize compliance and deter breaches by attaching a tangible cost to non-compliance, thereby protecting the interests of the non-breaching party.
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Non-Compliance Fee. Borrower shall pay Lender upon demand, a non-compliance fee of $500.00 per instance that Borrower is more than thirty (30) days past due, following written notice thereof, in providing Lender with proof of insurance, financial reports, compliance certificates and other similar items as required in this Agreement and the Loan Documents, provided the non-compliance fee will not be assessed again for the same failure unless Lender provides written notice of its intention to assess such non-compliance fee again and such failure continues on the part of Borrower following the expiration of ten (10) days after such notice.
Non-Compliance Fee. The Borrower acknowledges that if the Borrower fails to timely furnish the Bank with any financial records required by this Note or otherwise fails to timely perform any other term, obligation or covenant required by this Note or any related document (singularly and collectively referred to as "Non-Compliance"), the Bank will incur costs and damages as result of the Borrower's Non-Compliance, and in consideration of such costs and damages, the Borrower agrees to pay the Bank a fee equal to 2.500% per annum of the then outstanding Loan balance, calculated based on a 30-day month over a 360-day year (the "Predetermined Fee Amount"). Any fee under this section will be imposed monthly in the Predetermined Fee Amount and due on the interest payment due date until the Non-Compliance is cured by the Borrower. A Predetermined Fee Amount will be calculated and imposed in accordance with this section for each recurring event of Non-Compliance.
6. Except as amended by the terms of this Fourth Amendment to Credit Agreement, the provisions of the Credit Agreement shall remain in full force and effect.
Non-Compliance Fee. To the extent any of the foregoing items in this Section 6.16 (Financial Statements, etc.) are not delivered to Lender on a timely basis, Borrowers shall be obligated to pay Lender a daily fee equal to $500 for each day until such item is delivered to Lender, whether or not a Default or Event of Default occurs or is declared, provided that nothing shall prevent Lender from considering any failure to comply with the terms of this Section 6.16 (Financial Statements, etc.) to be a Default or an Event of Default. Such fee shall be payable if the delivery obligation is not cured within 5 Business Days from the date said delivery obligation was originally due.
Non-Compliance Fee. To the extent any of the foregoing items in this Section 6.1 are not delivered to Lender on a timely basis, Borrower shall be obligated to Lender for a daily fee equal to the greater of (i) $500, or (ii) five one-hundredths of one percent (0.05%) of the then current outstanding principal balance of the Obligations, for each day until such item is delivered to Lender, whether or not a Default or Event of Default occurs or is declared, provided that nothing shall prevent Lender from considering any failure to comply with the terms of this Section 6.1 to be a Default or an Event of Default.
Non-Compliance Fee. Borrower’s failure to timely comply with any Lender request for information and/or documentation pursuant to any provision in the Loan Documents (each a “Non- Compliance Event”) shall be subject to a $250.00 fee (“Non-Compliance Fee”) for each occurrence. Lender may assess, and Borrower shall pay upon such assessment, the Non-Compliance Fee(s) upon the occurrence of each Non-Compliance Event and again at the end of each subsequent 30-day period until such time as the required information and/or document(s) are delivered to Lender in form and substance acceptable to Lender in its sole discretion. Failure to pay any assessed Non-Compliance Fee shall also constitute an Event of Default. ▇▇▇▇▇▇▇▇ agrees that Non-Compliance Fees constitute reasonable compensation for the time and costs anticipated to be incurred by Lender to address Non-Compliance Events, and neither the assessment nor payment of any Non-Compliance Fee(s) shall prevent Lender from declaring any uncured Non-Compliance Event to be an Event of Default or from exercising any of its other rights or remedies under this Agreement or applicable law. For the avoidance of doubt, where the information and/or documentation is to be provided by other, non-affiliated persons or entities, Borrower’s failure to cause such person or entity to provide the information and/or documentation shall be a Non-Compliance Event so long as it is reasonably possible, in ▇▇▇▇▇▇’s sole judgment, for Borrower to effectuate compliance.
Non-Compliance Fee. See §6.2. Non-Excluded Taxes. See §6.3.2.
Non-Compliance Fee. See §6.2.
Non-Compliance Fee. Borrower acknowledges that if Borrower fails to timely furnish Lender with any financial record(s) required by this Agreement or otherwise fails to timely perform any other term, obligation or covenant required by this Agreement and Related Documents (singularly and collectively "Non-Compliance"), Lender will incur costs and damages as a result of Borrower's Non-Compliance, and in consideration of such costs and damages, Borrower agrees to pay Lender a fee equal to 2.500% per annum of the then outstanding loan balance, calculated based on a 30 day month over 360 days per year ("Predetermined Fee Amount"). Any fee under this section will be imposed monthly in the Predetermined Fee Amount and due on the interest payment due date until the Non-Compliance is cured by Borrower. A Predetermined Fee Amount will be calculated and imposed in accordance with this section for each recurring event of Non-Compliance.
Non-Compliance Fee. All executed documents will be uploaded into the BackAgent file system within 24 hours of execution. Due to compliance regulations, Wishlist Realty reserves the right to impose a $100 Non-Compliance Fee for a Missing File, Listing Agreement or Contract that is 30 days past execution. This Fee will be deducted from AGENT's commission check.