Failure to Make Timely Payments Sample Clauses
The "Failure to Make Timely Payments" clause defines the consequences and procedures that apply when a party does not pay amounts owed by the agreed deadlines. Typically, this clause outlines the steps the non-breaching party can take, such as charging late fees, accruing interest on overdue amounts, or even suspending services until payment is made. Its core practical function is to incentivize prompt payment, provide remedies for late payments, and protect the financial interests of the party expecting payment.
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Failure to Make Timely Payments. Tenant hereby acknowledges that the late payment of Percentage Rent during the Interim Phase, Concession Space Rent and Marketing Fund Fee or any other sums due hereunder will cause County to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, administrative processing of delinquent notices, increased accounting costs, lost interest income and other professional services. Accordingly, if any payment of Percentage Rent during Interim Phase, Concession Space Rent, and Marketing Fund Fee as specified in Section 4.06 in this Lease, or of any other sum due County is not received by County by the due date, a late charge of one and one-half percent (1.5%) of the payment due shall be added to any amount that remains unpaid after such amount was due and payable hereunder; provided, however, with regard to the first such failure in any twelve (12) month period beginning at DBO through Accounting Year and every Accounting Year thereafter, such late charge shall be waived to the extent tenant cures such failure. The unpaid shall be added to the payment, and the total sum shall become immediately due and payable to County. An additional charge of one and one-half percent (1.5%) of said payment, excluding late charges, shall be added for each additional month that said payment remains unpaid. Tenant and County hereby agree that such late charges represent a fair and reasonable estimate of the costs that County will incur by reason of Tenant’s late payment. Acceptance of such late charges (and/or any portion of the overdue payment) by County shall in no event constitute a waiver of Tenant’s default with respect to such overdue payment or prevent County from exercising any of the other rights and remedies granted hereunder. The failure of County to act in the event of a delinquent payment or series of payments shall in no way waive the right of County to act at a subsequent time. County expects all rents, fees, and charges to be paid on time and ▇▇▇▇▇▇ agrees to pay on time. Notwithstanding other provisions of this Lease, and without limiting the other provisions of this Lease concerning, among other things, events deemed to constitute default of Tenant, County may, in County’s reasonably exercised discretion, terminate this Lease upon written notice to Tenant if there are recurring instances in which ▇▇▇▇▇▇’s payments required hereunder are not timely or are insufficie...
Failure to Make Timely Payments. Producer shall make payment of the initial compensation to the Performer no later than ten (10) business days after the applicable session, unless otherwise negotiated in the Performer’s individual contract. Producer shall pay a $10 per day per performer late payment charge, excluding Saturdays, Sundays and holidays, from the time payment becomes due (excluding bona fide emergencies of which the Union has been given prompt notice), for a period not to exceed twenty (20) days, excluding Saturdays, Sundays and holidays, to a maximum of $200.00 per violation. If Producer fails to make payment within five (5) days following written notice from the Union or the performer of the delinquency, additional late payment charges in the amount of $2.50 per day retroactive to the date of Producer’s receipt of the notice of non-payment shall accrue without limitation until the delinquent payment, together with all late payment charges, is fully paid. The late payment charges shall be in addition to all other remedies which the Union may have against Producer under the contract. No late payment shall be due to any performer who fails to provide the Producer with completed forms and documentation required for employment and/or payment (i.e., I-9s, vouchers, W-4s, or start paperwork indicating the correct name, address, Social Security Number, or tax identification number (for loan-outs) of the performer), provided that the Producer supplies the forms to the performer and makes reasonable efforts to collect those forms by notifying the performer that the forms are incomplete or missing. If Producer materially breaches its obligations under this Agreement to timely pay compensation owed to Performers, including all payments required under the Trust Agreements, SAG-AFTRA reserves the right, which it may exercise at any time upon written notice to the Producer, to withhold the services of the Performers on the Production, except when a bona fide dispute exists as to whether Producer has made all payments as required under this Agreement and Producer has placed the amount in controversy in escrow in a manner acceptable to SAG-AFTRA pending arbitration of the dispute in accordance with the applicable provisions of this Agreement.
Failure to Make Timely Payments. While ▇▇▇▇▇’s failure to make payments to the Existing Loan would likely constitute equity skimming (a federal crime), Seller understands, acknowledges, and agrees that ▇▇▇▇▇'s purchase of the Property does not end or terminate Seller's obligation to make full and timely payment of the Existing Loan.
Failure to Make Timely Payments. In the event the Company fails to make any of the payments set forth in paragraphs 2, 3, or 4 of this Separation Agreement on a timely basis, you shall immediately notify the Company in writing of such non-payment. Upon receipt of such written notice, the Company shall have thirty (30) days to make the required payment to you and in the event that payment is not made within such period, all remaining amounts due under paragraphs 2, 3 and 4 which remain unpaid shall immediately accelerate and become fully due and payable in their entirety, and you shall be entitled to all costs of collection of any amounts due, including reasonable attorneys fees, and interest at 8% per annum on the remaining balance. Further, the provisions of paragraphs 12 (Non-Competition) and 13 (Non-Solicitation) shall become null and void in the event of any failure by the Company to make timely payments.
Failure to Make Timely Payments. Without waiving any other right available to the Authority, in the event of default of Company's payment of any rents, fees, charges, and/or payments due and payable in accordance with the terms of this Agreement within twenty (20) days after same shall become due and payable, Authority reserves the right to charge Company interest thereon, from the date such rents, fees and charges became due until the date payment is received by the Authority, at the maximum interest rate then authorized by law, or twelve percent (12%) per annum, whichever is less.
Failure to Make Timely Payments. A. Immediately upon Concessionaire's receipt of monies from sales, services, or doing business under this Agreement, the percentages of said monies belonging to City per this Agreement shall immediately vest in and become the property of City. Concessionaire understands, accepts, and agrees to be responsible as a trustee for said monies until the same are delivered to City. Concessionaire also covenants to pay all compensation, damages, charges, and fees under this Agreement independent of any obligation of City. No breach of this Agreement by City shall relieve Concessionaire of its obligation and duty to pay all such obligations when due.
B. Without waiving any other right or action available to City, in the event Concessionaire is delinquent in the payment of compensation, damages, charges, or fees hereunder or rightly due and owing by an audit of Concessionaire’s books and records as provided in Section 5.10, and in the event Concessionaire is delinquent in paying to City any such compensation, damages, charges, or fees for a period of five (5) business days after the payment is due, City reserves the right to charge Concessionaire interest thereon, from the date such compensation, damages, charges, or fees became due to the date of payment, at 18% per annum, to the maximum extent permitted by law.
C. In the event of a dispute as to the amount to be paid, City shall accept the sum tendered without prejudice and, if a deficiency is determined to exist, interest shall apply only to the deficiency.
D. The right of City to require payment of interest and the obligation of the Concessionaire to pay shall be in addition to and not in lieu of the right of City to enforce other provisions herein, including termination of this Agreement, and to pursue other remedies provided by law.
E. The failure of City to take action in the event of a delinquent payment or series of payments shall in no way waive the right of City to take action at a subsequent time. City expects all compensation, fees and charges to be paid on time and Concessionaire agrees to pay on time. Further, any endorsements or statements on a check or letter accompanying such payment for compensation or other charges shall not be deemed an accord and satisfaction or otherwise recognized for any purpose whatsoever.
F. Notwithstanding other provisions of this Agreement, and without limiting the other provisions of this Agreement concerning, among other things, events deemed to constitute a material br...
Failure to Make Timely Payments. Should the Company fail to timely make a payment that is required to be made by it hereunder, unless there has been a court order that such payment is not required to be made by it hereunder, and such failure continues for more than five (5) business days, such untimely payment shall bear interest at the annual rate of 5% until such payment (together with interest) is made.
Failure to Make Timely Payments. ▇▇▇▇ Financial acknowledges that failure to timely pay any payment under this Agreement shall be a breach of this Agreement. Failure by ▇▇▇▇ Financial to cure after ten days written notice to ▇▇▇▇ Financial from the Commissioner shall be cause for the Commissioner to summarily revoke any license(s) currently held by ▇▇▇▇ Financial, and/or deny any pending application(s) of ▇▇▇▇ Financial, its successors and assigns, by whatever names they might be known. ▇▇▇▇ Financial hereby waives any notice and hearing rights to contest such revocation(s) and/or denial(s) which may be afforded under the CRMLA, the California Administrative Procedure Act, the California Code of Civil Procedure, or any other provision of law in connection therewith as the same may pertain to this matter.
Failure to Make Timely Payments. ▇▇▇▇▇▇ shall fail to pay when due any installments of interest or principal under the Note and such failure shall continue for a period of fifteen (15) days.
Failure to Make Timely Payments. In the event the Customer fails to make a payment on the due date for said applicable payment, the days of delay in making such payment shall be deemed a day for day Customer requested postponement of the Launch Schedule in accordance with Paragraph 7.1.1 above and may result in the resequencing of the Customer’s Launch, unless waived by the Contractor in writing. [***]. The provisions of this paragraph do not in any manner waive or otherwise affect Contractor’s right to terminate under Paragraph 18.3 or Contractor’s right to interest for late payments under Paragraph 5.6.