Common use of Default and Consequences of Default Clause in Contracts

Default and Consequences of Default. 19.1 Interest on overdue invoices shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and a half percent (2.5%) per calendar month (and at MEL’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment. 19.2 If the Client owes ▇▇▇ any money the Client shall indemnify ▇▇▇ from and against all costs and disbursements incurred by ▇▇▇ in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, MEL’s collection agency costs, and bank dishonour fees). 19.3 Further to any other rights or remedies ▇▇▇ may have under this Contract, if a Client has made payment to ▇▇▇, and the transaction is subsequently reversed, the Client shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by ▇▇▇ under this clause 19, where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s obligations under this Contract. 19.4 Without prejudice to MEL’s other remedies at law ▇▇▇ shall be entitled to cancel all or any part of any order of the Client which remains unfulfilled and all amounts owing to ▇▇▇ shall, whether or not due for payment, become immediately payable if: (a) any money payable to ▇▇▇ becomes overdue, or in MEL’s opinion the Client will be unable to make a payment when it falls due; (b) the Client has exceeded any applicable credit limit provided by ▇▇▇; (c) the Client becomes insolvent or bankrupt, convenes a meeting with its creditors or proposes or enters into an arrangement with creditors, or makes an assignment for the benefit of its creditors; or (d) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Client or any asset of the Client.

Default and Consequences of Default. 19.1 (a) Interest on overdue invoices shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and a half percent (2.5%) per calendar month (and at MELthe Supplier’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment. 19.2 (b) If the Client owes ▇▇▇ the Supplier any money the Client shall indemnify ▇▇▇ the Supplier from and against all costs and disbursements incurred by ▇▇▇ the Supplier in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, MELthe Supplier’s collection agency costs, and bank dishonour fees). 19.3 (c) Further to any other rights or remedies ▇▇▇ the Supplier may have under this Contract, if a Client has made payment to ▇▇▇the Supplier, and the transaction is subsequently reversed, the Client shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by ▇▇▇ the Supplier under this clause 1941, where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s obligations under this Contract. 19.4 (d) Without prejudice to MELthe Supplier’s other remedies at law ▇▇▇ the Supplier shall be entitled to cancel all or any part of any order of the Client which remains unfulfilled and all amounts owing to ▇▇▇ the Supplier shall, whether or not due for payment, become immediately payable if: (a) : • any money payable to ▇▇▇ the Supplier becomes overdue, or in MELthe Supplier’s opinion the Client will be unable to make a payment when it falls due; (b) ; • the Client has exceeded any applicable credit limit provided by ▇▇▇; (c) the Supplier; • the Client becomes insolvent or bankruptinsolvent, convenes a meeting with its creditors or proposes or enters into an arrangement with creditors, or makes an assignment for the benefit of its creditors; or (d) or • a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Client or any asset of the Client.

Default and Consequences of Default. 19.1 16.1. Interest on overdue invoices shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and a half percent (2.5%) 17% per calendar month annum (and at MEL’s our sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment. 19.2 16.2. If the Client owes ▇▇▇ you owe us any money the Client you shall indemnify ▇▇▇ us from and against all costs and disbursements incurred by ▇▇▇ us in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, MEL’s collection agency costs, and bank dishonour fees). 19.3 Further 16.3. Without prejudice to any other rights or remedies ▇▇▇ we may have under this Contracthave, if a Client has made payment at any time you are in breach of any obligation (including those relating to ▇▇▇, payment) under these terms and conditions we may suspend or terminate the transaction is subsequently reversed, the Client shall provision of Works to you. We will not be liable to you for the amount of the reversed transaction, in addition to any further costs incurred by ▇▇▇ loss or damage you suffer because we have exercised our rights under this clause 19, where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s obligations under this Contract16.3. 19.4 16.4. Without prejudice to MEL’s our other remedies at law ▇▇▇ we shall be entitled to cancel all or any part of any order of the Client yours which remains unfulfilled and all amounts owing to ▇▇▇ us shall, whether or not due for payment, become immediately payable if: (a) any 16.4.1. Any money payable to ▇▇▇ us becomes overdue, or in MEL’s our reasonable opinion the Client you will be unable to make a payment when it falls due; (b) the Client has exceeded any applicable credit limit provided by ▇▇▇; (c) the Client becomes 16.4.2. You become insolvent or bankrupt, convenes convene a meeting with its your creditors or proposes propose to or enters enter into an arrangement with creditors, or makes make an assignment for the benefit of its your creditors; or (d) or a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Client you or any asset of the Clientyours.

Default and Consequences of Default. 19.1 17.1 Interest on overdue invoices shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and a half percent (2.5%) per calendar month (and at MEL’s our sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment. 19.2 17.2 If the Client owes ▇▇▇ you owe us any money the Client shall money, you agree to indemnify ▇▇▇ us from and against all costs and disbursements incurred by ▇▇▇ Us in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, MEL’s our collection agency costs, and bank dishonour fees). 19.3 17.3 Further to any other rights or remedies ▇▇▇ we may have under this ContractAgreement, if a Client has you have made payment to ▇▇▇us, and the transaction is subsequently reversed, the Client you shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by ▇▇▇ us under this clause 1917, where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s your obligations under this ContractAgreement. 19.4 17.4 Without prejudice to MEL’s our other remedies at law ▇▇▇ law, we shall be entitled to cancel all or any part of any order of the Client or Works which remains remain unfulfilled and all amounts owing to ▇▇▇ us shall, whether or not due for payment, become immediately payable if: (a) any money payable to ▇▇▇ us becomes overdue, or in MEL’s our opinion the Client you are or will be unable to make a payment when it falls due; (b) the Client has exceeded any applicable credit limit provided by ▇▇▇; (c) the Client becomes you become insolvent or bankrupt, convenes convene a meeting with its your creditors or proposes you propose or enters enter into an arrangement with creditors, or makes make an assignment for the benefit of its your creditors; or (dc) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Client for you or any asset of the Clientyour assets.

Default and Consequences of Default. 19.1 21.1 Interest on overdue invoices shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and a half percent (2.5%) per calendar month (and at MELTW’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment. 19.2 21.2 If the Client owes ▇▇▇ TW any money the Client shall indemnify ▇▇▇ TW from and against all costs and disbursements incurred by ▇▇▇ TW in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, MELTW’s collection agency costs, and bank dishonour fees). 19.3 21.3 Further to any other rights or remedies ▇▇▇ TW may have under this Contract, if a Client has made payment to ▇▇▇TW, and the transaction is subsequently reversed, the Client shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by ▇▇▇ TW under this clause 1921, where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s obligations under this Contract. 19.4 21.4 Without prejudice to MELTW’s other remedies at law ▇▇▇ TW shall be entitled to cancel all or any part of any order of the Client which remains unfulfilled and all amounts owing to ▇▇▇ TW shall, whether or not due for payment, become immediately payable if: (a) any money payable to ▇▇▇ TW becomes overdue, or in MELTW’s opinion the Client will be unable to make a payment when it falls due; (b) the Client has exceeded any applicable credit limit provided by ▇▇▇TW; (c) the Client becomes insolvent or bankrupt, convenes a meeting with its creditors or proposes or enters into an arrangement with creditors, or makes an assignment for the benefit of its creditors; or (d) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Client or any asset of the Client.

Default and Consequences of Default. 19.1 17.1 Interest on overdue invoices shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and a half percent (2.5%) per calendar month (and at MEL’s ▇▇▇▇▇▇’▇ sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment. 19.2 17.2 If the Client owes ▇▇▇▇ ▇▇▇▇▇▇ any money the Client shall indemnify ▇▇▇▇▇▇ from and against all costs and disbursements incurred by ▇▇▇▇▇▇ in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, MEL’s collection agency costs▇▇▇▇▇▇’▇ contract default fee, and bank dishonour fees). 19.3 17.3 Further to any other rights or remedies ▇▇▇▇▇▇ may have under this Contract, if a Client has made payment to ▇▇▇▇▇▇, and the transaction is subsequently reversed, the Client shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by ▇▇▇▇▇▇ under this clause 19, 17 where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s obligations under this Contract. 19.4 17.4 Without prejudice to MEL’s ▇▇▇▇▇▇’▇ other remedies at law ▇▇▇▇▇▇ shall be entitled to cancel all or any part of any order of the Client which remains unfulfilled and all amounts owing to ▇▇▇▇▇▇ shall, whether or not due for payment, become immediately payable if: (a) any money payable to ▇▇▇▇▇▇ becomes overdue, or in MEL’s ▇▇▇▇▇▇’▇ opinion the Client will be unable to make a payment when it falls due; (b) the Client has exceeded any applicable credit limit provided by ▇▇▇▇▇▇; (c) the Client becomes insolvent or bankruptinsolvent, convenes a meeting with its creditors or proposes or enters into an arrangement with creditors, or makes an assignment for the benefit of its creditors; or (d) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Client or any asset of the Client.

Default and Consequences of Default. 19.1 Interest on overdue invoices shall accrue daily from 21.1 We may treat your flexselect account as being in default at any time in the date event that you fail to comply with your obligations under this agreement such as failure to make any payment when payment becomes it is due, until incurring or attempting to carry out flexselect valid transactions in excess of the date credit limit, failure to pay any amount we demand in order to reduce the unpaid balance to your credit limit or if any form of payment, at a rate of two and a half percent (2.5%) per calendar month (and at MEL’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgmentpayment is returned or not honoured in full. 19.2 If 21.2 We may also consider your flexselect account to be in default at any time if any statement made by you to us in connection with your flexselect account was false or misleading, you breach any other agreement that you may have with us or with any of our affiliates, or if bankruptcy or other creditor proceedings are threatened or initiated against you or we have any reasonable reason to believe that you may not be creditworthy. 21.3 The inclusion of previously billed minimum payments, any portion of dishonoured payments and any over limit amounts in the Client owes ▇▇▇ minimum payment shown on a statement will not constitute a waiver by us of any money default. 21.4 In the Client shall indemnify ▇▇▇ from and against event of any default, you will also be responsible for all reasonable costs and disbursements incurred by ▇▇▇ us or our agents including legal advisers, in recovering any amounts unpaid and in protecting ourselves from any harm we may suffer as a result of the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, MEL’s collection agency costs, and bank dishonour fees)default. 19.3 Further 21.5 A number of consequences may arise should you fail to any other rights or remedies ▇▇▇ make payment in accordance with this agreement. For example: (i) you may have under this Contract, if a Client has made payment to ▇▇▇, and the transaction is subsequently reversed, the Client shall be liable for default charges as set out in the amount ‘Fees’ section of the reversed transaction, in addition to any further costs incurred by ▇▇▇ under this clause 19, where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Client’s obligations under this Contract. 19.4 Without prejudice to MEL’s other remedies at law ▇▇▇ shall be entitled to cancel all or any part of any order of the Client which remains unfulfilled and all amounts owing to ▇▇▇ shall, whether or not due for payment, become immediately payable if: (a) any money payable to ▇▇▇ becomes overdue, or in MEL’s opinion the Client will be unable to make a payment when it falls dueagreement ; (bii) your credit rating may be impaired making it more difficult or expensive for you to get credit in the Client has exceeded any applicable credit limit provided by ▇▇▇future; (ciii) the Client becomes insolvent or legal action may be taken against you to recover amounts owing and you may have to pay any associated legal costs; (iv) an application may be made to declare you bankrupt, convenes a meeting with its creditors or proposes or enters into an arrangement with creditors, or makes an assignment for ; and (v) if we have the benefit of its creditors; or (d) a receivercharging order, manager, liquidator (provisional we may then seek an order for sale which could mean that your home or otherwise) or similar person is appointed in respect of the Client or any asset of the Clientyour property may be repossessed.