Contractual penalties and default interest Sample Clauses

Contractual penalties and default interest. If the Seller is in default on the delivery of Equipment at the agreed time, under Article III (1) of this Agreement, the Purchaser is entitled to require that the Seller pay a contractual penalty of 0.05 % of the total purchase price of the Equipment, exclusive of VAT, for each day of default or part thereof, until full performance of the obligation. In the event of non-compliance with the due date of invoices issued by the Seller, the Seller is entitled to claim default interest from the Purchaser, in the amount of 0.01 % of the outstanding amount (exclusive of VAT) for each day of default, or part thereof, on the payment of the invoice. The right to invoice and collect a contractual penalty and default interest arises for the Purchaser on the first day after the expiry of the period specified for performance, and for the Seller on the first day following the expiry of the invoice maturity. Contractual penalties and default interest are payable within 14 calendar days from the date of the delivery of the written notice by which they are claimed. The contractual parties have agreed that the payment of a contractual penalty shall be without prejudice to the right to compensation for the full amount of financial or non-financial damage incurred, i.e., including the amount in excess of the contractual penalty invoiced or paid, and it is also without prejudice to the proper performance of the obligations under this Agreement. The Purchaser is entitled to set off the contractual penalty against the amount invoiced by the Seller, and the contact person of the Purchaser shall inform the contact person of the Seller electronically (by e-mail) about the amount of the contractual penalty. By signing this Agreement, the Seller consents to such a procedure.

Contractual penalties and default interest. 8.1 If the Purchaser is in delay with payment of the purchase price, it will be obliged to pay to SPOLEK a contractual fine of 0.05% of the outstanding amount for each day of delay. 8.2 Should the Purchaser be in delay with taking over Products, it shall pay to SPOLEK a contractual fine of 0.05% of the purchase price of the Products not taken over for each calendar day of the delay, including the date of take-over. 8.3 The title to the payment of contractual fines shall not exclude the right of SPOLEK to liquidated damages in full scope. 8.4 Should any legal regulation specify a fine (penalty) for a breach of any contractual obligations on the side of the Purchaser, the right of SPOLEK for liquidated damages in its full amount resulting from the breach of the contractual obligation shall not be affected. 8.5 Spolek is authorised to request a default interest even if it is above the amount exceeding the principal debt amount from the Purchaser.

Contractual penalties and default interest. 1. If the Seller is in default on the delivery of Equipment for more than 14 days after the agreed time, under Article III (1) of this Agreement, the Purchaser is entitled to require that the Seller pay a contractual penalty of 0.05 % of the total purchase price of the Equipment, exclusive of VAT, for each day of default or part thereof, max. 5% of the applicable value, until full performance of the obligation. 2. If the Seller is in default on compliance with the time limit for the commencement of the removal of defects set in this Agreement for more than 14 days after, it shall pay to the Purchaser a contractual penalty of 0.05 % of the total purchase price of the Equipment, exclusive of VAT, for each day of default or part thereof max. 5% of the applicable value, until full performance of the obligation. 3. In the event of non-compliance with the due date of invoices issued by the Seller for more than 14 days, the Seller is entitled to claim default interest from the Purchaser, in the amount of 0.05 % of the outstanding amount for each day of default, or part thereof, on the payment of the invoice max. 5% of the applicable value. The right to invoice and collect a contractual penalty and default interest arises for the Purchaser on the 15th day after the expiry of the period specified for performance, and for the Seller on the 15th day following the expiry of the invoice maturity. Contractual penalties and default interest are payable within 14 calendar days from the date of the delivery of the written notice by which they are rightfully claimed. The contractual parties have agreed that the payment of a contractual penalty shall be without prejudice to the right to compensation for the full amount of financial or non-financial damage incurred, i.e., including the amount in excess of the contractual penalty invoiced or paid, and it is also without prejudice to the proper performance of the obligations under this Agreement.

Contractual penalties and default interest. 10.1 In case of a delay with the delivery of the Course within the date defined in this Contract, the Contractor will pay to the Contracting Authority a contractual penalty of 0.1% of the total price for each day or part of the day of the delay until the complete performance of the Contract or the termination of the contractual relation. This is without prejudice to Article XII of this Contract. The right for invoicing a contractual penalty arises on the first day of the delay of the performance of this Contract. 10.2 In the event of a substantial breach of the Contract in accordance with Section 2002 Article 1 of the Civil Code, the Contractor undertakes to pay to the Contracting Authority a contractual penalty of a total of USD 4,000.00 to the bank account stated in the heading of this Contract. 10.3 In case of non-observance of the agreed date of the removal of the defect of the Course claimed under Article IX herein, the Contractor shall pay to the Contracting Authority a contractual penalty of 0.1 % of the total price of the Course for each day or part of the day of the delay until the signature of the complaint report and the removal of the defect. This is without prejudice to Article XII of this Contract. The right for invoicing a contractual penalty arises on the first day of the delay with the performance of the obligation specified herein. 10.4 The Contracting Authority shall pay to the Contractor a contractual penalty for the delay in payment of the invoice for each day or part of the day of delay amounting to 0.1% of the total price of the partial order until the Invoice is paid. 10.5 The liable Party is obliged to pay contractual penalties and delay interest irrespective of whether and what level of damage was incurred to the other Party. The compensation for damage is enforceable separately, in addition to contractual penalties and the full level of delay interest. 10.6 Contractual penalties are due within 30 days of the date of delivery of the Invoice.