Delinquency Clause Samples
The Delinquency clause defines the consequences and procedures that apply when a party fails to make payments or fulfill obligations on time under the agreement. Typically, this clause outlines the steps the non-defaulting party may take, such as charging late fees, accruing interest on overdue amounts, or initiating collection actions. Its core practical function is to incentivize timely performance and provide a clear framework for addressing late payments, thereby reducing uncertainty and potential disputes between the parties.
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Delinquency. If the Employer is delinquent in payments, the Employer shall be liable for the payment of any claims incurred by employees or dependents during such delinquency.
Delinquency. The Employer payment of monies to all funds referred to in Articles 18, 25, 40 and 41 shall be remitted not later than the 15th day of the month following that in which the hours were worked. The employer shall pay a minimum of ten percent (10%) compounded weekly for late con- tributions. Withdrawal of members from employ- ment of delinquent employers under this Article shall not be considered a violation of this Agree- ment, provided withdrawal is with consent of the Trustees of the Fund affected. The employer and/ or associations will not make an application to the Ontario Labour Relations Board for a cease and desist order.
Delinquency. A Delinquency that has been uncured for more than 60 days, but less than 90 days, is considered a 60-day Delinquency. A Delinquency that has been uncured for 90 days or more is considered a 90-day Delinquency. The foregoing shall be determined based on an assumption of a year comprised of twelve 30-day months.
Delinquency. Such Receivable was not more than 29 days past due as of the Cut-off Date, and such Receivable has not been extended by more than two months.
Delinquency a. Review the Data Tape and confirm that payment in excess of 10% of a Scheduled Payment on such Receivable was not more than 30 days past due as of the Cutoff Date.
Delinquency. All payments required to be made prior to the related Closing Date for such Mortgage Loan under the terms of the Mortgage Note have been made, the Mortgage Loan has not been dishonored, and no Mortgage Loan has been more than thirty (30) days delinquent since the related origination date.
Delinquency a. Review the Data Tape and confirm that Receivable was not more than 30 days past due as of the Cut-Off Date.
Delinquency. Except with respect to Monthly Payments not yet thirty days delinquent, all payments due prior to the related Cut-off Date for such Mortgage Loan have been made and credited as of the related Closing Date, the Mortgage Loan has not been dishonored, and no Mortgage Loan has been more than thirty (30) days delinquent more than once in the prior twelve (12) months.
Delinquency. If the Company is delinquent more than thirty (30) days pursuant to this section; if the Union gives written notice to the Company of its intent to withhold the services of employees; and if the Company has not cured the delinquency by the appropriate payment or by entering into an arrangement satisfactory to the Trustees by the sixtieth (60th) day after the delinquency began; then the Union shall have the right to withhold the services of employees beginning on the sixtieth (60th) day of delinquency or fifteen (15) days after notice from the Union, whichever occurs later, if, and as long as, the Company is in violation of this section. For purposes of this paragraph, the Trustees shall be deemed to have delegated the judgment concerning whether the appropriate payment or a satisfactory arrangement has been reached to the Administrator. In addition, the Company shall be responsible for the payment of all wages (including interest at the legal rate in Vermont) that would have been earned in normal working hours during any strike called on account of delinquent contributions.
Delinquency. Upon failure to pay any sums due hereunder, ▇▇▇▇▇▇▇▇ agrees to pay the Company interest at the rate of 1.5% per month simple interest (but not in excess of the maximum rate permitted under applicable law) for any overdue payment and to reimburse the Company for its reasonable attorneys’ fees and other costs incurred in the collection of unpaid balances. Furthermore, failure to pay in full for any work shall allow the Company to cease work on this or any other work for Customer and to post notice at all work sites without liability. In the event of non-payment, the Company, without prior notice, may remove all workmen and stored material from the project site. No credit or offset by Customer shall be permitted when service or work is refused for non-payment. All work furnished, lost profit, and costs of handling shall be due immediately upon invoice by the Company without liability to replace any equipment. Company hereby notifies Customer that persons or companies furnishing labor or materials for the construction on Customer’s land may have lien rights on Customer’s land and buildings if not paid. Company’s waiver of any breach by Customer of any of the provisions contained herein shall not constitute a waiver of any other breach of the same or any other provision. Company’s rights and remedies under any provision contained herein shall be in addition to and not in substitution or limitation of any other rights and remedies available to Company under applicable law.