Overdue and Unpaid Amounts Sample Clauses

The "Overdue and Unpaid Amounts" clause defines the procedures and consequences when a party fails to pay amounts owed under the agreement by the due date. Typically, this clause specifies that interest or late fees may accrue on overdue payments, and may outline additional remedies available to the non-breaching party, such as suspension of services or acceleration of remaining payments. Its core function is to incentivize timely payment and provide a clear framework for addressing late or missed payments, thereby reducing disputes and financial risk.