After Payment Due Date Sample Clauses

The "After Payment Due Date" clause defines the rights and obligations of the parties once a payment has not been made by its scheduled due date. Typically, this clause outlines the consequences of late payment, such as the accrual of interest, the imposition of late fees, or the suspension of services until payment is received. By clearly specifying what happens after a payment is overdue, the clause helps ensure timely payments and provides a structured process for addressing late payments, thereby reducing disputes and financial uncertainty.
After Payment Due Date. 5.1 USC payment by a CP which is received by the Intermediary on Payment Due Date, but after Banking Hours on Business Days or after noon on Saturdays, will be considered as overdue payment and subject to overdue interest. 5.2 The Intermediary will receive the Net Outstanding Amount and overdue interest from the CPs. PCCWHKTC will be the recipient of both the Net Outstanding Amount and the overdue interest. 5.3 The Intermediary will issue Overdue/Partial Payment Report (Attachment 8) to the TA on Tuesdays of every week via mail and electronic mail highlighting overdue status for the previous week(s). Report indicating “Nil” will be provided should no CP have overdue payments. The Overdue/Partial Payment Report will show the CPs who have not settled their outstanding amounts. For the avoidance of doubt, overdue amounts for different cycles of USC Collection Cycle 1-6 remain to be shown separately by USC Collection Cycle in the Overdue/Partial Payment Report. 5.4 The Intermediary will issue the Second Reminder Notice (Attachment 9) on the 16th calendar day after the Payment Due Date by mail and facsimile to CPs who have not settled the Total Overdue Amount set out in the First Reminder Notice. Additional overdue interest for the second reminder period will be calculated based on 15 calendar day period on the Net Outstanding Amount. The Total Overdue Amount shown on the Second Reminder Notice should equal to the sum of the Net Outstanding Amount, the overdue interest for the first reminder period and the overdue interest for the second reminder period. Simple annual interest rate of Prime Rate plus 2% will be applied to the Net Outstanding Amount. 5.5 Copies of the Second Reminder Notices issued to CPs, who have outstanding payment as of the 31st calendar day after the Payment Due Date, will be copied and sent to the TA by post within 3 Business Days. The TA will then deliver the appropriate Second Reminder Notices and information (i.e. contact name, fax number, telephone number and mailing address of respective CP) to PCCWHKTC for its private recovery actions within a reasonable time subject to Clause 4.5 of this Agreement. 5.6 Thirty calendar days after the Payment Due Date, the Intermediary has no responsibility to accumulate, track and report any additional overdue interest after the end of respective USC Collection Cycle. PCCWHKTC shall be responsible for the recovery effort of any Net Outstanding Amount and overdue interest. 5.7 Authorized Representativ...
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Related to After Payment Due Date

  • Payment Due Date Unless City notifies the Contractor that a dispute exists, Payment shall be made within [Enter number of days, generally ≥ 30] calendar days, measured from (1) the delivery of goods and/or the rendering of services or (2) the date of receipt of the invoice, whichever is later. Payment is deemed to be made on the date on which City has issued a check to Contractor or, if Contractor has agreed to electronic payment, the date on which City has posted electronic payment to Contractor.

  • Payment Due Dates Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or facility fee, as the case may be; provided, however, that if such extension would cause payment of interest on or principal of LIBO Rate Advances or Floating Rate Bid Advances to be made in the next following calendar month, such payment shall be made on the immediately preceding Business Day.

  • Payment Due Payment for services provided by BellSouth, including disputed charges, is due on or before the next ▇▇▇▇ date. Information required to apply payments must accompany the payment. The information must notify BellSouth of Billing Account Numbers (BAN) paid; invoices paid and the amount to be applied to each BAN and invoice (Remittance Information). Payment is considered to have been made when the payment and Remittance Information are received by BellSouth. If the Remittance Information is not received with payment, BellSouth will be unable to apply amounts paid to Freedom’s accounts. In such event, BellSouth shall hold such funds until the Remittance Information is received. If BellSouth does not receive the Remittance Information by the payment due date for any account(s), late payment charges shall apply.

  • Due Date All fees contemplated under Section 3(a) above and reimbursement for all expenses contemplated under Section 3(b) above are due and payable within ten (10) days of receipt of an invoice provided by GFS. Any fees or reimbursements due hereunder not received by its due date may be assessed interest at the maximum amount permitted by law.

  • Monthly Payment City shall make monthly payments, based on invoices received, for services satisfactorily performed, and for authorized reimbursable costs incurred. City shall have 30 days from the receipt of an invoice that complies with all of the requirements above to pay Consultant.