Common use of DUE DATE OF PAYMENT Clause in Contracts

DUE DATE OF PAYMENT. Where the Sellers become liable to make any payment under paragraph 2, the due date for the making of that payment in cleared funds shall be: 8.1.1 in a case that involves an actual payment of Tax by the relevant Group Company, the day preceding the date that is the last date on which such Group Company would have had to have paid to the appropriate Tax Authority the Tax that has given rise to the Sellers' liability under this Schedule in order to avoid incurring a liability to interest or a charge or penalty in respect of that Tax liability or in order to enable the liability in question to be appealed; or 8.1.2 in a case falling within paragraph 2.1.2 the day preceding the date that is the last date on which the Tax, which but for such loss, reduction, modification or disallowance would have been saved, has to be paid to the appropriate Tax Authority in order to avoid incurring a liability to interest or a charge or penalty in respect of that Tax; 8.1.3 in a case falling within paragraph 2.1.3, the day payment would have been due under 8.1.1 above assuming the Post Accounts Date Relief had not been used or set off as envisaged in paragraph 2.1.3; or 8.1.4 in a case falling within paragraph 2.1.4 the date on which the repayment of Tax or payment or other consideration for the surrender of group relief would have been payable; or 8.1.5 in a case falling within paragraph 2.1.5, within 30 days of demand; 8.1.6 in any other case falling within paragraph 2, on the date on which the relevant Group Company is required to meet such liability;