Late Payment and Interest. Any payments due under this Agreement by either Party that are not paid by the date such payments are due shall bear interest at one percent (1%) per month from the date such payments are due. The foregoing interest shall be due from the Party owing the payment amount without any special notice and shall be in addition to any other remedies that the Party entitled to such payment may have pursuant to this Agreement.
Appears in 2 contracts
Sources: License Agreement (Par Pharmaceutical Companies, Inc.), License Agreement (Alfacell Corp)