Penalty definition

Penalty means the amount payable by the Transport Supplier in the event of breach of contract as stated in clause 1.14 of Annexure-A which shall be at a rate of the pro-rata fixed charge per day. Penalty shall be levied irrespective of whether such breach resulted in a shut down or otherwise.

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Penalty means a fee assessed for canceling a reservation. For airline tickets, the cancellation penalty is usually collected by refunding only a portion of the ticket price. For hotel reservations, the cancellation penalty is charged to the credit card or deposit used to secure the reservation.

Penalty means a judgment, penalty or fine awarded or imposed in, or an amount paid in settlement of, an eligible proceeding; and

Examples of Penalty in a sentence

• Any and all such Penalty payments that are collected shall be transferred to the Trustee for deposit in the Collection Account and shall be applied against system restoration charge obligations.

• Further, it is understood that pursuant to the Assignment and Assumption Agreement and certain agreements between the Representative and Revere, Revere shall be responsible for engaging in transactions that stabilize, maintain, or otherwise affect the price of Company’s Class A Ordinary Shares described in the “Price Stabilization, Short Positions, and Penalty Bids” section under the caption “Underwriting” in the Prospectus.

• If an REP agrees to assume the responsibility for the payment of overdue System Restoration Charges as a condition of receiving the customers of another REP that has decided to terminate service to those customers for any reason, the new REP shall not be assessed the Penalty upon such System Restoration Charges; provided, however, that the prior REP shall not be relieved of the previously assessed Penalties.

More Definitions of Penalty

Penalty means an amount imposed for noncompliance that is not fraudulent, willful, or intentional which is in addition to the correct amount of sales or use tax and interest.

Penalty means any civil or criminal penalty (including any interest thereon), fine, levy, lien, assessment, charge, monetary sanction or payment, or any payment in the nature thereof, of any kind, required to be made to any Government under any Law.

Penalty means and includes all penalties and sanctions, including but not limited to a monetary or non-monetary penalty; a limitation on an activity, function, operation or other appropriate sanction; or the addition of the Registered Entity or Respondent to a reliability watch list composed of major violators. Penalties must be within the range set forth in the NERC Sanction Guidelines approved by FERC pursuant to 18 C.F.R. Section 39.7(g)(2), and shall bear a reasonable relation to the seriousness of a Registered Entity’s or Respondent’s violation and take into consideration any timely efforts made by the Registered Entity or Respondent to remedy the violation.

Penalty has the meaning specified in Section 3.5.

Penalty means an amount imposed for noncompliance that is not fraudulent, willful, or intentional and that is in addition to the correct amount of tax imposed under this act and in addition to interest.

Penalty. Any scrutinized company that bids on or contracts or renews a contract for any technology related product or service or that violates the certification provided pursuant to the Act shall be liable for a civil penalty up to $250,000 or twice the amount of the contract bid, or the amount of any losses suffered by the public entity as a result of such

Penalty means any monetary amount assessed against an employer and payable to an employee.