Common use of Penalties Clause in Contracts

Penalties. 1. In the case of Lessee's delay with payment of a due rent or any payment for services, the Lessee shall be obliged to pay to the Lessor a contractual default interest in the rate of 0.05% of the outstanding amount for each day of the delay. 2. In the case that the Lessee fails to hand over the Leased Premises to the Lessor within the stipulated period after termination of the lease, the Lessee shall be obliged to pay to the Lessor a contractual penalty in the amount of CZK 500 (in words: five hundred Czech crowns) per each day of the delay with meeting this obligation. 3. If, in the case of termination of the lease, the Lessee fails to carry out all the acts required for registration of change in the seat, place of business or branch address from the Building's address to another address by the relevant Commercial Register and the Trades Licensing Office without any undue delay, the Lessee undertakes to pay to the Lessor a contractual penalty in the amount of CZK 2,000 (in words: two thousand Czech crowns) per each commenced calendar month, during which month the Lessee's seat, place of business or branch address was registered in the Commercial Register or the Trade Register at the address of the Building. The obligation of the Lessee under the previous sentence shall always be considered satisfied if the Lessee files the respective application to the relevant public authority within (7) days after the termination hereof. 4. If the Lessee lets the Leased Premises or a part thereof for use or sublets them to a third person without a written consent of the Lessor, the Lessee shall be obliged to pay to the Lessor a contractual penalty in the amount of CZK 50,000 (in words: fifty thousand Czech crowns) for each individual case. 5. Any provision on contractual penalty contained herein shall not affect the Lessor's possible right to demand compensation for damage or a profit lost. 6. The contractual penalty shall always be payable within thirty (30) days from the date of delivery of a notice to pay such penalty to the account specified in such notice.

Penalties. 1. In the case of Lessee's ▇▇▇▇▇▇'▇ delay with payment of a due rent or any payment for services, the Lessee shall be obliged to pay to the Lessor a contractual default interest in the rate of 0.05% of the outstanding amount for each day of the delay. 2. In the case that the Lessee fails to hand over the Leased Premises to the Lessor within the stipulated period after termination of the lease, the Lessee shall be obliged to pay to the Lessor a contractual penalty in the amount of CZK 500 (in words: five hundred Czech crowns) per each day of the delay with meeting this obligation. 3. If, in the case of termination of the lease, the Lessee fails to carry out all the acts required for registration of change in the seat, place of business or branch address from the Building's address to another address by the relevant Commercial Register and the Trades Licensing Office without any undue delay, the Lessee undertakes to pay to the Lessor a contractual penalty in the amount of CZK 2,000 (in words: two thousand Czech crowns) per each commenced calendar month, during which month the Lessee's seat, place of business or branch address was registered in the Commercial Register or the Trade Register at the address of the Building. The obligation of the Lessee under the previous sentence shall always be considered satisfied if the Lessee files the respective application to the relevant public authority within (7) days after the termination hereof. 4. If the Lessee lets the Leased Premises or a part thereof for use or sublets them to a third person without a written consent of the Lessor, the Lessee shall be obliged to pay to the Lessor a contractual penalty in the amount of CZK 50,000 (in words: fifty thousand Czech crowns) for each individual case. 5. Any provision on contractual penalty contained herein shall not affect the Lessor's possible right to demand compensation for damage or a profit lost. 6. The contractual penalty shall always be payable within thirty (30) days from the date of delivery of a notice to pay such penalty to the account specified in such notice.