Common use of Penalty for Delayed Payments Clause in Contracts

Penalty for Delayed Payments. If the Authorisee fails to make the Annual Lease rentals payments to TSRTC, the Annual Lease Rentals (ALRs) (the yearly payments on advance basis), Security Deposits and yearly enhancement of advance Lease Rentals within the stipulated period, a penalty @ 18% per annum on the outstanding amounts would be effective from and including the due date to excluding the date of payment. Note:For delayed payments, the interest amount will be adjusted first and balance amount if any will be shown as outstanding payments.

Penalty for Delayed Payments. If the Authorisee fails to make the Annual Lease rentals rental payments to TSRTC, the Advance Annual Lease Rentals Rentals(Security Deposit), (ALRs) (the yearly 6 months payments on advance basis), Security Deposits ) and yearly enhancement of advance Annual Lease Rentals Rental within the stipulated period, a penalty @ 18% per annum on the outstanding amounts would be effective from and including the due date to excluding the date of payment. Note:For delayed payments, the interest amount will be adjusted first and balance amount if any will be shown as outstanding payments.

Penalty for Delayed Payments. If the Authorisee fails to make the Annual Lease rentals rental payments to TSRTC, the Advance Annual Lease Rentals Rentals(Security Deposit), (ALRs) (the yearly one year payments on advance basis), Security Deposits ) and yearly enhancement of advance 6 months Annual Lease Rentals Rental within the stipulated period, a penalty @ 18% per annum on the outstanding amounts would be effective from and including the due date to excluding the date of payment. Note:For delayed payments, the interest amount will be adjusted first and balance amount if any will be shown as outstanding payments.