Delinquency Charge definition

Delinquency Charge. A charge assessed if Concessionaire is more than ten (10) days delinquent in paying to the Authority any Concession Fee or Additional Rent owed to the Authority under this Lease as defined in Section 4.9. Delinquency Rate - Eighteen percent (18%) per annum or the maximum rate of interest allowed by law, whichever is less, as defined in Section 4.9. Delivery Zones - Vendor delivery areas located on the south end of Terminals 1 and 2, and airside on the lower level of the Terminal 2. Discounts - Merchandise discounts given to preferred customers, Airport employees, Concessionaire's employees, suppliers, or any others. The discounted amount may be excluded from the Gross Receipts, but only up to a maximum of two percent (2%) of the Gross Receipts per store per Lease Year as described in Section 4.5. DOT – Department of Transportation.

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Delinquency Charge means a separate fee, fine, or penalty levied as a result of the late payment of an amount due. For purposes of this part 11, a delinquency charge shall not include any fee, fine, or other penalty imposed:

Delinquency Charge. Any payment required to be made by Lessee under this Lease (all such payments are hereby agreed to be rent) that remains due and unpaid under the terms of this Lease for a period of 10 days after it becomes due and payable shall be subject to a delinquency charge, for violation of this Lease and as liquidated damages, of $100.00 plus a sum equal to 0.05% (five one-hundredths of one percent) per day of such delinquent payment for each day from the date such payment became due and payable until payment has been received by the Port; provided, however, that said $100.00 amount shall be adjusted at the same time and by the same percentage amount as Monthly Rent is adjusted pursuant to Section 4 hereof. Unpaid delinquency charges that accrue shall be compounded monthly. The delinquency charges provided by this Section are in addition to all other remedies that the Port may have that are provided by this Lease or otherwise by law or in equity with respect to any payment that has become due and has not been paid. The Port as a courtesy may send invoices to Lessee for Monthly Rent hereunder, but the Port's failure to send an invoice, or Lessee's late receipt of an invoice, shall in no event excuse or justify Lessee's non-payment of such rent or payment of such rent later than the first day of the month.

Examples of Delinquency Charge in a sentence

Parties acknowledge the Delinquency Charge is part of liquidated damages since the exact amount of damages as a result of late payment is uncertain and difficult to prove and this is a reasonable solution.
Payments more than ten (10) days late will be assessed a Delinquency Charge of $100.00 in addition to the Late Charge.
The Delinquency Charge is subject to periodic change by the Port.
The Delinquency Charge shall continue to accrue until the returned check fee is paid, the check can be cashed, and the Port receives all funds due.
Statutes, Section 421.301(28), the Delinquency Charge rate shall be 1.5% per month (18% APR) plus all costs of collection, including reasonable attorney’s fees.
Payments that are more than 10 days late will be assessed a Delinquency Charge of $100 in addition to the 5% Late Fee.
In the event any such balance is found to be due from the Airline as the result of an audit pursuant to Section 18.27, interest shall accrue thereon from the date the payment was originally due, at the Delinquency Charge.
The late payment charge in Section 4.9.1 and the Delinquency Charge described in Section 4.9.2 shall continue to accrue until the returned check fee is paid, the check has been honored or replaced, and the funds are received by the Authority.
Imposition of a Delinquency Charge shall not constitute a waiver of any other remedies available to the Port for Airline's failure to timely pay Rent or any other amounts.
Delinquency Charge: Insured agrees to pay a delinquency charge to BankDirect on any payment required to be made by Insured hereunder which is not received by BankDirect within five (5) days of its due date, unless a longer period is specified under applicable law, in which case the delinquency charge will be imposed on any payment not received by BankDirect within this longer period.

More Definitions of Delinquency Charge

Delinquency Charge. A delinquency charge will be assessed on any payment not received by SPFC within five (5) days of its due date. For commercial accounts, the delinquency charge will be the greater of $10 or 5% of the installment payment. For personal lines accounts, the delinquency charge will be $10.

Delinquency Charge. If any installment payable to the Cemetery remains unpaid for a period of more than ten (10) days following its due date, debtor agrees to pay a delinquency charge on such installment in an amount not to exceed five (5%) percent of such installment or fifteen dollars ($15.00) whichever is less. If a default in payment of one installment is thirty (30) days after amount is due, the Cemetery may cancel this contract, retain the money paid on the contract as liquidated damages and dispose of the merchandise free of its obligations in this agreement. Before taking such action, the Cemetery agrees to first mail a registered letter to Purchaser’s address shown on this contract advising of the action the Cemetery intends to take and giving Purchaser sixty (60) days from the date the registered letter is mailed to cure the default by bringing the contract current.

Delinquency Charge. Any payment of Monthly Rent or any other sums (said sums herein deemed to be rent in addition to Monthly Rent) that remains due and unpaid under the terms of this Lease for a period of thirty (30) days after it becomes due and payable shall be subject to a delinquency charge, for violation of this Lease and as liquidated damages, a sum equal to ten percent (10%) per annum of such rental or such other sums until payment of said rental or such other sums have been received by the Port. Unpaid delinquency charges that accrue shall be compounded monthly. The Port shall apply any monies received from Lessee first to any accrued delinquency charges and then to any other rental or other sums then due hereunder. The delinquency charges provided by this Paragraph 4.2 are in addition to all other remedies that the Port may have that are provided by this Lease or otherwise by law to enforce payment of any rental or other sum that has become due and has not been paid.