Delinquency Charge Clause Samples
A Delinquency Charge clause establishes a fee or penalty that is imposed when a payment is not made by its due date. Typically, this clause specifies the amount or percentage to be charged, the grace period (if any) before the charge applies, and the method of calculation. For example, if an invoice remains unpaid for more than 30 days, a fixed fee or a percentage of the overdue amount may be added to the outstanding balance. The core function of this clause is to incentivize timely payments and compensate the party owed for the inconvenience or financial impact of late payments.
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Delinquency Charge. Should Lessee fail to pay any Rent hereunder or any other sum required to be paid to Lessor by Lessee on the date due, Lessee agrees to pay to Lessor, on demand, (a) an amount equal to five percent (5%) of such Rent or other sum, and (b) all of Lessor's costs and expenses incurred or paid in collecting the delinquent payment, with interest thereon from the date paid by Lessor until paid by Lessee at the annual rate of twelve percent or, if lower, the maximum rate Lessor may lawfully charge.
Delinquency Charge. To the extent permitted by law, a delinquency charge may be imposed in an amount not to exceed four percent (4%) of any payment that is more than fifteen days late.
Delinquency Charge. Should any payments due under this Lease remain unpaid ten days after the due date of such payment, a penalty of 10% shall be added to any payments past due and owing. Delinquency of 45 days will result in the termination of this Lease and, in that event, Tenant agrees to vacate the leased premises.
Delinquency Charge. Lender shall be entitled to charge a delinquency charge on commercial loans on the amount of any installment or other amount in default for a period of not less than 10 days, in a reasonable amount not to exceed 5% of the amount of the delinquent installment, in addition to the interest provided for herein.
Delinquency Charge. Any sum payable by Permittee to Port under any provision of this Permit which is not paid for a period of 10 calendar days (30 calendar days for unpaid sums for utilities) after it becomes due and payable shall be subject to a delinquency charge, for violation of this Permit and as liquidated damages, of $50.00, plus a sum equal to 0.05% (five one-hundredths of one percent) per day of such delinquent payment,but not to exceed the maximum interest rate permitted by applicable law, for each day from the date such payment became due and payable until payment has been received by Port. Unpaid delinquency charges that accrue may be compounded monthly at the Port’s sole election. The delinquency charges provided by this Section 26 are in addition to all other remedies that Port may have that are provided by this Permit or otherwise by law or in equity with respect to any payment that has become due and has not been paid. The Port as a courtesy may send invoices to Permittee for Rent hereunder, but the Port’s failure to send an invoice, or Permittee’s late receipt of an invoice, shall in no event excuse or justify Permittee’s non-payment of such Rent or payment of such Rent later than the applicable due date specified in Paragraph E of this Permit.
Delinquency Charge. Any person or firm who is delinquent after July 31, of any year during the life of this Agreement, shall be required to pay an additional One Hundred ($100.00) dollars, which shall not be refundable. Such additional deposit shall not be required from new individuals, firms, co-partnership, corporations or other associations who enter the painting industry within the jurisdiction of District Council No. 36.
Delinquency Charge. A delinquency charge of one and one half per cent (1 1/2%) per month of the amount due shall be added to any payments or fees required in this Agreement which are rendered more than ten (10) business days after such payments are due.
Delinquency Charge. A delinquency charge of 5% per month shall be added to the payment required by Paragraph A above for each and every month, which payment is rendered more than ten (10) days delinquent and remains unpaid.
Delinquency Charge. To the extent permitted by law, a delinquency charge may be imposed in an amount not to exceed four percent (4%) of the unpaid portion of any payment that is more than fifteen days late. Unless the terms of this Note call for repayment of the entire balance of this Note (both principal and interest) in a single payment and not for installments of interest or principal and interest, the 4% delinquency charge may be imposed not only with respect to regular installments of principal or interest or principal and interest, but also with respect to any other payment in default under this Note (other than a previous delinquency charge), including without limitation, a single payment of principal due at the maturity of this Note. In the event any installment, or portion thereof, is not paid in a timely manner, subsequent payments will be applied first to the past due balance (which shall not include any previous delinquency charges), specifically to the oldest maturing installment, and a separate delinquency charge will be imposed for each payment that becomes due until the default is cured.
Delinquency Charge. Borrower shall pay on demand of Lender, a delinquency charge in an amount not to exceed two percent (2%) of any payment that is more than fifteen days late.