Default Penalty. (a) Without limiting the remedies available to IFC under this Agreement or otherwise, if the Borrowers fail to make any payment of principal or interest (including interest payable pursuant to this Section) or any other payment when due:
Default Penalty. The Company may charge the Customer a Default Penalty on any moneys due but unpaid under the Contract which will be calculated on a daily basis at a rate of 1.5 per cent per month. The Default Penalty is payable from the date payment is due until the date the Company receives payment. The Company’s right to charge the Default Penalty is without prejudice to any of the Company’s rights, powers or remedies arising after the Customer’s payment default.
Default Penalty. 46. Any member agreed by the Group to be in default of these agreed rules and/or payments may, on the agreement of the other members at a notified quorate meeting, either lose their membership immediately or agree to pay any proven costs that may be incurred to correct their actions.
Default Penalty. 12.1. Seller acknowledges that Seller shall pay default penalty for breaching the Agreement for any reason attributable to Seller. Seller shall pay default penalty for any delay, non-contractual performance, non- performance, violation of HSE rules, failure to provide information and breach of confidentiality obligations.
Default Penalty. In the event that the delivery shall be delayed more than 3 days, then ELİF shall issue penalty invoice equivalent to the %0,5 of the purchase order for each delayed date starting from the 4th date and such amount shall be deducted from the payments to the SELLER and/or from the securities obtained from the SELLER. The total penalty amount shall not be more than 5% and if the delay shall be more than 10 days ELİF shall have a right to cancel the order and shall preserve the right to not to pay the price of the purchase order. ELİF has a right to deduct said penalties from the receivables or securities of the SELLER. The penalty amounts stated in this provision shall not be applied for delays occurred from ELİF.
Default Penalty. 12.1 Partner acknowledges that Partner shall pay default penalty for breaching the Agreement for any reason attributable to Partner. Partner shall pay default penalty for any delay, non-contractual performance and/or non- performance, violation of HSE rules, failure to provide information and breach of confidentiality obligations.
Default Penalty. If an institution's cohort default rate meets the following levels, a default penalty is imposed on the institution as follows:
Default Penalty. In the event that Xxxxxx fails to repay the borrowed amount as specified in Article 3 or loses the benefit of the agreed-upon due date, Debtor shall be liable to Creditor for delay damages. Such delay damages shall accrue at a rate of 20% per annum on the outstanding borrowed amount for each day of delay, calculated on a daily basis, with one year considered as 365 days.
Default Penalty. As of the Effective Date:
Default Penalty. Notwithstanding anything to the contrary hereunder, including Sections 2.1 and 2.2 hereof:
