Common use of Date for Payment Clause in Contracts

Date for Payment. 7.1 Where a Tax Claim or any sum to which sub-clause 3.2 of this Deed applies involves the Purchaser or the Company being under a liability to make a payment to any Tax Authority, the Covenantor shall pay to the Purchaser in cleared funds the amount claimed on or before the later of the fifth Business Day after demand is made therefor and the fifth Business Day before the date on which the amount in question is finally payable to the relevant Tax Authority without any interest, penalty, fine or surcharge arising in respect thereof. 7.2 Where the Covenantor is liable to make a payment under sub-clause 2.1.2 of this Deed, the Covenantor shall pay to the Purchaser in cleared funds the amount in question on the later of the fifth Business Day after demand is made therefor and the fifth Business Day after the date on which the Tax in question would have been arisen. 7.3 Where the Covenantor is liable to make any payment under any other Tax Claim, the date for the payment of which is not determined under sub-clauses 7.1 or 7.2 above, the Covenantor shall pay to the Purchaser the amount in question on the fifth Business Day after demand is made therefor. 7.4 Any sum not paid by the Covenantor on a date determined under sub-clauses 7.1, 7.2 or 7.3 above (the "due date") shall bear interest (which shall accrue from day to day after as well as before any judgement for the same) at the rate of [4%] per annum over the base rate of Barclays Bank plc or in the absence thereof at such similar rate as the Purchaser shall select from the due date up to and including the day of actual payment of such sum (or the next Business Day if the date of actual payment is not a Business Day) compounded quarterly. Such interest shall be paid on the demand of the Purchaser.

Date for Payment. 7.1 5.1 Where a HHL Tax Claim or any sum to which sub-clause 3.2 paragraph 2.2 of part 3 of this Deed schedule applies involves the Purchaser or the Company HHL being under a liability to make a payment to any Tax Authority, the Covenantor Warrantors shall (subject to clause 4 of this agreement) instruct the Vendors’ Solicitors to release from the Joint Account (subject to clause 4 of this agreement) to pay to the Purchaser in cleared funds the relevant amount claimed on or before the later of the fifth Business Day after demand is made therefor for the amount in question and the fifth Business Day before the date on which the amount in question is finally payable to the relevant Tax Authority without any interest, penalty, fine or surcharge arising in respect thereofof it. 7.2 5.2 Where a HHL Tax Claim does not fall within paragraph 5.1, the Covenantor is liable due date for payment out of the Joint Account (subject to make a payment under sub-clause 2.1.2 4 of this Deedagreement) under this schedule shall be: 5.2.1 in the case of a HHL Tax Claim involving the loss of an Accounts Relief which is not a right to a repayment of Tax, the Covenantor shall pay to the Purchaser in cleared funds the amount in question on the later of ten Business Days following service by the fifth Business Day after Purchaser of a written demand is made therefor for the same and the fifth Business Day after the date on which the Accounts Relief would otherwise have been used but for such loss; 5.2.2 in the case of a HHL Tax in question Claim involving the loss of an Accounts Relief which is a right to repayment of Tax, the later of ten Business Days after the Purchaser has served a written demand for the same and the date on which repayment of Tax would have actually been arisen.received or credited against an Actual Tax Liability; 7.3 Where 5.2.3 in the Covenantor case of a HHL Tax Claim involving the set-off of a Purchaser’s Relief or an Accounts Relief, the later of ten Business Days following the service by the Purchaser of a written demand for the same or the date on which the Actual Tax Liability against which the Purchaser’s Relief or Accounts Relief is liable to make any payment under set off would have fallen due but for such setting off; and 5.2.4 in any other Tax Claimcase, ten Business Days following the date for the payment of which is not determined under sub-clauses 7.1 or 7.2 above, the Covenantor shall pay to service by the Purchaser the amount in question on the fifth Business Day after of a written demand is made therefor. 7.4 Any sum not paid by the Covenantor on a date determined under sub-clauses 7.1, 7.2 or 7.3 above (the "due date") shall bear interest (which shall accrue from day to day after as well as before any judgement for the same) at . 5.3 If the rate of [4%] per annum over the base rate of Barclays Bank plc or Warrantors default in the absence thereof at such similar rate as payment when due of any sum payable under this schedule, the Purchaser liability of the Warrantors shall select be increased to include interest on that sum from the date when the payment was due date up to and including the day of actual payment of such sum (or the next Business Day if until the date of actual payment is not (as well after as before judgment) at a Business Day) compounded quarterlyrate per annum of 1 per cent. Such above the base rate from time to time of Barclays Bank plc. This interest shall be paid payable on the demand of the Purchaserdemand.

Date for Payment. 7.1 5.1 Where a Tax Claim or any sum to which sub-clause 3.2 paragraph 2.2 of part 3 of this Deed schedule applies involves the Purchaser or the Company being under a liability to make a payment to any Tax Authority, the Covenantor Warrantors shall pay to the Purchaser in cleared funds the relevant amount claimed on or before the later of the fifth Business Day after demand is made therefor for the amount in question and the fifth Business Day before the date on which the amount in question is finally payable to the relevant Tax Authority without any interest, penalty, fine or surcharge arising in respect thereofof it. 7.2 5.2 Where the Covenantor is liable to make a payment under sub-clause 2.1.2 of this DeedTax Claim does not fall within paragraph 5.1, the Covenantor due date for the making of payments by the Warrantors under this schedule shall pay be: 5.2.1 in the case of a Tax Claim involving the loss of an Accounts Relief which is not a right to the Purchaser in cleared funds the amount in question on a repayment of Tax, the later of five Business Days following service by the fifth Business Day after Purchaser of a written demand is made therefor for the same and the fifth Business Day after the date on which the Accounts Relief would otherwise have been used to reduce a liability to make a payment but for such loss; 5.2.2 in the case of a Tax in question Claim involving the loss of an Accounts Relief which is a right to repayment of Tax, the later of five Business Days after the Purchaser has served a written demand for the same and the date on which repayment of Tax would have actually been arisenreceived; 5.2.3 in the case of a Tax Claim involving the set-off of a Post Completion Relief or an Accounts Relief, the later of five Business Days following the service by the Purchaser of a written demand for the same or the date on which the Actual Tax Liability would have fallen due but for such setting off. 7.3 Where 5.3 All other sums payable by the Covenantor is liable Warrantors pursuant to make any payment under any other Tax Claim, paragraph 2 of part 3 of this schedule shall be paid five Business Days after the date Purchaser has served a written demand for the payment of which is not determined under sub-clauses 7.1 or 7.2 above, the Covenantor shall pay to the Purchaser the amount in question on the fifth Business Day after demand is made thereforsame. 7.4 5.4 Any sum not paid by the Covenantor on a date determined under sub-clauses 7.1, 7.2 or 7.3 above this schedule (the "due dateTHE DUE DATE") shall bear interest (which shall accrue from day to day after after, as well as before before, any judgement judgment for the same) at the rate of [4%] 1% per annum over the base rate of Barclays Bank plc or PLC or, in the absence thereof of such base rate, at such similar rate as the Purchaser person entitled to the payment shall select from the due date up to and including the day of actual payment of such sum (or the next Business Day if the date of actual payment is not a Business Day) compounded quarterly. Such interest shall be paid on the demand of the Purchaserdemand.

Date for Payment. 7.1 4.1 Where a Tax Schedule Claim or any sum to which sub-clause 3.2 of this Deed applies involves the Purchaser Buyer or the a Group Company being under having a liability to make a payment to any Tax Authority, the Covenantor Seller shall pay to the Purchaser Buyer in cleared funds the amount claimed on or before the later of the fifth (5th) Business Day after demand is made therefor for such payment and the fifth second (2nd) Business Day before the date on which the amount in question is finally due and payable to the relevant Tax Authority without any interest, penalty, fine or surcharge arising in respect thereofof it. 7.2 4.2 Where a Tax Schedule Claim is in respect of the Covenantor is liable non-availability of a right to make a payment under sub-clause 2.1.2 repayment of this Deedor in respect of Tax, the Covenantor Seller shall pay to the Purchaser Buyer in cleared funds the amount in question on the later of the fifth (5th) Business Day after demand is made therefor for such amount to be paid and the fifth (5th) Business Day after the date on which the Tax or the amount in respect of Tax would have been repaid but for that non-availability. 4.3 Where a Tax Schedule Claim is in respect of the utilisation or set-off of a Relief, the Seller shall pay to the Buyer in cleared funds the amount in question on the later of the fifth (5th) Business Day after the date on which the Tax in question would have been arisendue and payable (without any interest, penalty, fine or surcharge arising in respect of it) but for such utilisation or set-off on the fifth (5th) Business Day after demand is made for such amount to be paid. 7.3 4.4 Where a Tax Schedule Claim is in respect of a loss of an Accounts Relief (other than a right to repayment of or in respect of Tax), the Seller shall pay to the Buyer in cleared funds the amount claimed on or before the later of the second (2nd) Business Day before the date on which the Buyer or the relevant Group Company is due to pay (without any interest, penalty, fine or surcharge arising in respect of it) any Tax which it would not have had to pay but for the loss of the Accounts Relief on the fifth (5th) Business Day after demand is made for such amount to be paid. 4.5 Where the Covenantor Seller is liable to make any payment under any other Tax Claimthis Schedule, the date for the payment of which is not determined under sub-clauses 7.1 or 7.2 abovepursuant to the foregoing provisions of this Paragraph 4.5 of this Schedule 8, the Covenantor Seller shall pay to the Purchaser Buyer in cleared funds the amount in question on the fifth (5th) Business Day after demand is made thereforfor such amount to be paid. 7.4 Any sum not paid by the Covenantor on a date determined under sub-clauses 7.1, 7.2 or 7.3 above (the "due date") shall bear interest (which shall accrue from day to day after as well as before any judgement for the same) at the rate of [4%] per annum over the base rate of Barclays Bank plc or in the absence thereof at such similar rate as the Purchaser shall select from the due date up to and including the day of actual payment of such sum (or the next Business Day if the date of actual payment is not a Business Day) compounded quarterly. Such interest shall be paid on the demand of the Purchaser.

Date for Payment. 7.1 6.1 Where a Tax Claim or any sum to which sub-clause 3.2 of this Deed applies involves the Purchaser or the Company being under a liability Covenantors are liable to make a payment pursuant to any Tax Authoritythis Deed, the Covenantor due date for making such payment which shall pay to the Purchaser be made in cleared funds shall be :- 6.1.1 in a case which involves the amount claimed on or making of an actual payment of Taxation by the Company, the date that is three business days immediately before the later of the fifth Business Day after demand is made therefor and the fifth Business Day before the last date on which the amount in question is finally payable Company would have had to pay to the relevant Tax Authority without any interest, penalty, fine the Taxation that has given rise to the Covenantors' liability under this Deed in order to avoid incurring a liability to interest or surcharge arising a charge or penalty in respect thereof.of that liability to Taxation; or 7.2 Where the Covenantor is liable 6.1.2 in respect of a liability to make a payment under sub-clause 2.1.2 of this Deed, the Covenantor shall pay to the Purchaser in cleared funds the amount in question on the later of the fifth Business Day after demand is made therefor and the fifth Business Day Taxation falling within Clause 1.7.1 within five business days after the date on which the Tax Covenantors are notified by the Purchaser or the Company that the Covenantors have a liability for a determinable amount; 6.1.3 in respect of a liability to Taxation falling within Clause 1.7.2 the date that is one business day before the last date upon which the Company would have had to make an actual payment of Taxation but for the utilisation or set off of the Relief, as the case may be, in order to avoid incurring a liability to pay interest or a charge or a penalty; 6.1.4 in any other case, within five business days after the date when the Covenantors have been notified by the Company or the Purchaser that the Covenantors have a liability for a determinable amount, such notice to be accompanied by reasonable evidence of the liability in question would have having been arisenincurred. 7.3 Where 6.2 If any sum due and payable by the Covenantor Covenantors under this Deed is liable to make any not paid on the due date for payment under any other Tax Claimas ascertained in accordance with the provisions of this Deed, the date Covenantors shall in addition to that sum, pay interest on the amount for the payment of which is not determined under sub-clauses 7.1 or 7.2 above, the Covenantor shall pay to the Purchaser the amount in question on the fifth Business Day after demand is made therefor. 7.4 Any sum not paid by the Covenantor on a date determined under sub-clauses 7.1, 7.2 or 7.3 above (the "due date") shall bear interest (which shall accrue from day to day after as well as before any judgement for the same) at the rate of [4%] per annum over the base rate of Barclays Bank plc or in the absence thereof at such similar rate as the Purchaser shall select time being unpaid from the due date up for payment of the sum to and including the day of actual payment of such the sum (or the next Business Day business day if the date day of actual payment is not a Business Day) compounded quarterlybusiness day). Such The interest shall accrue from day to day (before as well as after judgment) at the rate of 2% per annum above the base lending rate for the time being of Lloyds Bank plc and shall be paid compounded quarterly on the demand of the Purchaserusual quarter days.

Date for Payment. 7.1 4.1 Where a Tax Claim or any sum to which sub-clause 3.2 of this Deed applies involves the Purchaser or the a Group Company being under a liability to make a payment to any Tax Authority, the Covenantor Sellers shall pay to the Purchaser in cleared funds the amount claimed on or before the later of the fifth Business Day after demand is made therefor for such payment and the fifth Business Day before the date on which the amount in question is finally payable to the relevant Tax Authority without any interest, penalty, fine or surcharge arising in respect thereofof it. 7.2 4.2 Where a Tax Claim is made under this Schedule in respect of the Covenantor is liable non-availability of a right to make a payment under sub-clause 2.1.2 repayment or refund of this DeedTax, the Covenantor Sellers shall pay to the Purchaser in cleared funds the amount in question on the later of the fifth Business Day after demand is made therefor for such amount to be paid and the fifth Business Day after the date on which the Tax in question would have been arisenrepaid but for that non-availability. 7.3 4.3 Where a Tax Claim is made under this Schedule in respect of the utilisation or set off of a Relief, the Sellers shall pay to the Purchaser in cleared funds the amount in question on the later of the fifth Business Day after the date on which the Tax in question would have arisen but for such utilisation or set off and the fifth Business Day after demand is made for such amount to be paid. 4.4 Where the Covenantor is Sellers are liable to make any payment under this Schedule or under any other Tax Claim, Claim the date for the payment of which is not determined under sub-clauses 7.1 paragraphs 4.1, 4.2 or 7.2 above4.3, the Covenantor Sellers shall pay to the Purchaser the amount in question on the fifth Business Day after demand is made thereforfor such amount to be paid. 7.4 4.5 Any sum not paid by the Covenantor Sellers on a date determined under sub-clauses 7.1paragraphs 4.1, 7.2 4.2, 4.3 or 7.3 above 4.4 (the "“due date"”) shall bear interest on that sum (which shall accrue from day to day after as well as before any judgement for the samein respect of such sum) at the rate of [4%] per annum over the base rate of Barclays Bank plc or in the absence thereof at such similar rate as the Purchaser shall select Applicable Rate from the due date up to and including the day of actual payment of such sum (or the next Business Day if the date of actual payment is not a Business Day) which interest shall accrue from day to day and be compounded quarterlyannually. Such interest shall be paid on the demand of the Purchaser.

Date for Payment. 7.1 6.1 Where a Tax Claim or any sum to which sub-clause 3.2 of this Deed applies involves the Purchaser or the any Group Company being under a liability to make a payment to any Tax Authority, the Covenantor Vendors shall pay to the Purchaser in cleared funds the amount claimed on or before the later of the fifth Business Day after demand is made therefor for such payment and the fifth Business Day before the date on which the amount in question is finally payable to the relevant Tax Authority without any interest, penalty, fine or surcharge arising in respect thereofof it. 7.2 6.2 Where a Tax Claim is made under the Covenantor is liable Tax Covenant in respect of the non-availability of a right to make a payment under sub-clause 2.1.2 repayment of this DeedTax, the Covenantor Vendors shall pay to the Purchaser in cleared funds the amount in question on the later of the fifth Business Day after demand is made therefor for such amount to be paid and the fifth Business Day after the date on which the Tax in question would have been arisenrepaid but for that non-availability. 7.3 6.3 Where a Tax Claim is made under the Tax Covenant in respect of the utilisation or set-off of a Relief, the Vendors shall pay to the Purchaser in cleared funds the amount in question on the later of the fifth Business Day after the date on which the Tax in question would have arisen but for such utilisation or set-off and the fifth Business Day after demand is made for such amount to be paid. 6.4 Where the Covenantor is Vendors are liable to make any payment under any other Tax Claim, the date for the payment of which is not determined under sub-clauses 7.1 paragraphs 6.1, 6.2 or 7.2 above6.3 of part 4 of this schedule 5, the Covenantor Vendors shall pay to the Purchaser the amount in question on the fifth Business Day after demand is made thereforfor such amount to be paid. 7.4 Any sum not paid by the Covenantor on a date determined under sub-clauses 7.1, 7.2 or 7.3 above (the "due date") shall bear interest (which shall accrue from day to day after as well as before any judgement for the same) at the rate of [4%] per annum over the base rate of Barclays Bank plc or in the absence thereof at such similar rate as the Purchaser shall select from the due date up to and including the day of actual payment of such sum (or the next Business Day if the date of actual payment is not a Business Day) compounded quarterly. Such interest shall be paid on the demand of the Purchaser.