Late Payment Surcharge definition

Late Payment Surcharge shall have the meaning ascribed thereto in Article 10.3.3 of this Agreement;

Late Payment Surcharge means the charges payable by a distribution company to a generating company or electricity trader for power procured from it, or by a user of a transmission system to a transmission licensee on account of delay in payment of monthly charges beyond the due date;

Late Payment Surcharge means the charges payable by MSEDCL to the SPV on account of delay in payment of any Monthly Bill beyond the Due Date of Payment.

Examples of Late Payment Surcharge in a sentence

• TANGEDCO had initially, on 27.6.2022, sent a letter to PTC under the provisions of the Ministry of Power (Late Payment Surcharge) Rules, 2022 (“LPSC Rules”) intending to liquidate the outstanding dues of PTC amounting to Rs. 316.68 crore (between 1.2.2021 to 30.9.2021) in 48 monthly instalments.

• Late Payment Surcharge shall be payable, on the payment outstanding after the Due Date of bill, at the base rate of Late Payment Surchargeapplicable for the period for the first month of default.

• The Delayed Payment Surcharge may be mentioned in the bill as Surcharge on Outstanding Amount or Late Payment Surcharge.

• In the event of delay in payment of a Monthly Bill by SECI beyond the Due Date, a Late Payment Surcharge shall be payable by SECI to the SPD on the outstanding payment, at the base rate of Late Payment Surcharge applicable for the period for the first month of default.

• The Commission in the Statement of Reasons to the 2014 Tariff Regulations clarified that Regulations 44 and 45 of the 2014 Tariff Regulations deals with mechanism for Rebate and Late Payment Surcharge only.

More Definitions of Late Payment Surcharge

Late Payment Surcharge shall have the meaning ascribed thereto in Article 10. 1.7 of this Agreement; Law" shall mean in relation to this Agreement, all laws including Electricity Laws in force in India and any statute, ordinance, regulation, notification or code, rule, or any interpretation of any of them by an Indian Governmental Instrumentality and having force of law and shall further include without limitation all applicable rules, regulations, orders, notifications by an Indian Governmental Instrumentality pursuant to or under any of them and shall include without limitation all rules, regulations, decisions and orders of the GERC; “Letter of Credit” or “LC” shall have the meaning ascribed thereto in Article 10.1.10 of this Agreement;

Late Payment Surcharge shall have the meaning ascribed thereto in Article8.5.1 of this PPA;

Late Payment Surcharge shall have Agreement; the meaning ascribed thereto in Article 10.3.3 of this "Law" shall mean in relation to this Agreement, all laws including Electricity Laws in force in India and any statute, ordinance, regulation, notification or code, rule, or any interpretation of any of them by an Indian Government Instrumentality and having force of law and shall further include without limitation all applicable rules, regulations, orders, notifications by an Indian Governmental Instrumentality pursuant to or under any of them and shall include without limitation all rules, regulations, decisions and orders of the Appropriate Commission;

Late Payment Surcharge means the charge on all amounts not paid by the Customer by the Due Date as described in clause 6.

Late Payment Surcharge has the meaning ascribed to it in Article 23.10(a).

Late Payment Surcharge means the charges payable by the distribution company to a generating company for power procured from it on account of delay in payment of monthly charges beyond the due date.

Late Payment Surcharge shall have the meaning ascribed thereto in clause 11.3.4.