FINAL PAYMENT DELAY Clause Samples

The FINAL PAYMENT DELAY clause establishes the terms and conditions that apply when the final payment under a contract is not made on time. Typically, this clause outlines the consequences of delayed payment, such as the accrual of interest, additional fees, or the suspension of services until payment is received. By clearly defining the repercussions of late final payments, the clause helps ensure timely settlement of outstanding balances and protects the party expecting payment from unnecessary financial risk or disruption.
FINAL PAYMENT DELAY. If the Owner or its designated agent does not issue a certificate for final payment or the Contractor does not receive such payment for any cause which is not the fault of the Subcontractor, the Contractor shall promptly inform the Subcontractor. The Contractor shall also diligently pursue, with the assistance of the Subcontractor, the prompt release by the Owner of the final payment due for the Subcontract Work. At the Subcontractor's request and expense, to the extent agreed upon in writing, the Contractor shall institute reasonable legal remedies to mitigate the damages and pursue payment of the Subcontractor's final payment including interest.
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FINAL PAYMENT DELAY. If Owner or its designated agent does not issue a certificate for final payment or CH2M HILL does not receive such payment for any cause that is not the fault of Subcontractor, CH2M HILL shall promptly inform Subcontractor in writing. CH2M HILL shall also diligently pursue, with the assistance of Subcontractor, the prompt release by Owner of the final payment due for Subcontractor’s Work. At Subcontractor’s request and expense, to the extent agreed upon in writing, CH2M HILL shall institute reasonable legal remedies to mitigate the damages and pursue payment of Subcontractor’s final payment including interest.
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FINAL PAYMENT DELAY. If the Owner or its designated agent does not issue a Certificate for Final Payment or if the General Contractor does not receive such payment for any cause which is not the fault of the Subcontractor, the General Contractor shall promptly inform the Subcontractor in writing. The General Contractor shall also diligently pursue, with the assistance of the Subcontractor, the prompt release by the Owner of the final payment due for the Subcontractor's Work. In all events no payment, whether interim or final, shall be due to the Subcontractor from the General Contractor unless and until the Owner has made payment to the General Contractor for the Subcontractor's work. 5.4.1 Notwithstanding any provision to the contrary in this Agreement, no provision hereof shall be construed in a way that places any conditions precedent upon the obligation of the Owner to pay the Subcontractor for work performed, or that interferes with or restrains the Subcontractor from enforcing its rights under the applicable lien laws. To that end, the Subcontractor agrees that: a) in the event that a payment requisition is not paid hereunder, when due, for a period of ninety (90) days; and b) the General Contractor, upon written notice of same from the Subcontractor, asserts, within thirty (30) days of the receipt of that notice, that the reason therefore is the failure of the Owner to make payment to the General Contractor. THEN, in that event, the General Contractor, shall be released from liability for said payment by the Subcontractor and as consideration thereof the General Contractor shall, upon request, execute an assignment of its right to collect said payment from the Owner, under its contract with the Owner, to the Subcontractor.
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FINAL PAYMENT DELAY. If the Customer does not waive all claims related to the Subcontractor’s Work, the Contractor shall promptly inform the Subcontractor in writing. The Contractor shall also diligently pursue, with the assistance of the Subcontractor, the prompt release by the Customer of all claims and the final payment due for the Subcontractor’s Work. At the Subcontractor’s request and expense, to the extent agreed upon in writing, the Contractor shall institute reasonable legal remedies to mitigate the damages and pursue payment of the Subcontractor’s final payment including interest thereon.
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FINAL PAYMENT DELAY. If the Owner or its designated agent does not issue a certificate for final payment or the Constructor does not receive such payment for any cause which is not the fault of the Subcontractor, the Constructor shall promptly inform the Subcontractor in writing. If final payment from the Owner for such Subcontract Work is not received by the Constructor, through no fault of the Subcontractor, the Constructor will make payment to the Subcontractor within a reasonable time. The Constructor shall also diligently pursue, with the assistance of Subcontractor, the prompt release by the Owner of the final payment due for the Subcontractor Work. At the Subcontractor's request and expense, to the extent agreed upon in writing, the Constructor shall institute reasonable legal remedies to mitigate the damages and pursue payment of the Subcontractor's final payment including interest.
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FINAL PAYMENT DELAY. If the Owner or its designated agent does not issue a certificate for final payment or the Contractor does not receive such payment for any cause which is not the fault of the Subcontractor, the Contractor shall promptly inform the Subcontractor in writing. The Contractor shall also diligently pursue, with the assistance of the Subcontractor, the prompt release by the Owner of the final payment due for the Subcontract Work. At the Subcontractor's request and expense, to the extent agreed upon in writing, the Contractor shall institute reasonable legal remedies to mitigate the damages and pursue payment of the Subcontractor's final payment including interest. 2.11.1 To the fullest extent permitted by law, and subject to Subparagraph 2.5.2, the Contractor and Subcontractor acknowledge and agree that receipt by the Contractor of final payment from the Owner for such Work performed by Subcontractor is an express condition precedent to the obligation of Contractor to make, and the Subcontractor’s right to receive, final payment. The parties acknowledge and agree that until the Contractor receives final payment under its contract with the Owner, the Contractor shall be under no obligation to make final payment to the Subcontractor regardless of the reasons or causes for the delay in the receipt of final payment from the Owner.
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Related to FINAL PAYMENT DELAY

  • Payment Delay Notwithstanding any other terms of this Agreement, no payments will be made to CONTRACTOR until COUNTY is satisfied that work of such value has been rendered pursuant to this Agreement. However, COUNTY will not unreasonably withhold payment and, if a dispute exists, the withheld payment shall be proportional only to the item in dispute.

  • Final Payment A. Upon final completion and acceptance of the Work in accordance with Paragraph 15.06 of the General Conditions, Owner shall pay the remainder of the Contract Price as recommended by Engineer as provided in said Paragraph 15.06.

  • Additional Payment In addition to any Spousal Support, in the event of Divorce: (check one)

  • Six-Month Delay Notwithstanding anything to the contrary in this Agreement, no compensation or benefits, including without limitation any severance payments or benefits payable under this Section 4, shall be paid to the Executive during the six-month period following the Executive’s Separation from Service if the Company determines that paying such amounts at the time or times indicated in this Agreement would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first day of the seventh month following the date of Separation from Service (or such earlier date upon which such amount can be paid under Section 409A without resulting in a prohibited distribution, including as a result of the Executive’s death), the Company shall pay the Executive a lump-sum amount equal to the cumulative amount that would have otherwise been payable to the Executive during such period.

  • Late Payment Surcharge In the event of delay in payment of a Monthly ▇▇▇▇ by Buyer beyond thirty (30) days of its Due Date, a Late Payment Surcharge shall be payable to the SPD at the rate of 1.25% per month on the outstanding amount calculated on a day to day basis subject to such late payment being duly received by Buyer under the PSA from the Buying Entity(ies). The Late Payment Surcharge shall be claimed by the SPD through the Supplementary ▇▇▇▇.