Common use of Penalty Fees Clause in Contracts

Penalty Fees. In certain instances, we may charge you a penalty fee up to the amounts shown on your Pricing Schedule. If we do not receive at least the Minimum Payment Due by the Payment Due Date disclosed on your billing statement, we may charge a late payment fee. This fee will never exceed the Minimum Payment Due that was due immediately prior to the date on which the fee was assessed. Each time a payment made to the Account is not honored by your financial institution or cannot be processed, we may charge you a returned payment fee even if the payment is honored after we resubmit it. This fee will never exceed the Minimum Payment Due that was due immediately prior to the date on which the payment was returned to us. We reserve the right to add or modify the penalty fees to which your Account is subject in accordance with applicable law.

Penalty Fees. In certain instances, we may charge you a penalty fee up to the amounts shown on your Pricing Schedule. If we do not receive at least the Minimum Payment Due by the Payment Due Date disclosed on your billing statement, we may charge a late payment fee. This fee will never exceed the Minimum Payment Due that was due immediately prior to the date on which the fee was assessed. Each time a payment made to the Account is not honored by your financial fnancial institution or cannot be processed, we may charge you a returned payment fee even if the payment is honored after we resubmit it. This fee will never exceed the Minimum Payment Due that was due immediately prior to the date on which the payment was returned to us. We reserve the right to add or modify the penalty fees to which your Account is subject in accordance with applicable law.