Common use of Late Payment Consequences Clause in Contracts

Late Payment Consequences. Late payments will incur: (i) A service charge of 1.5% per month on the overdue amount or the highest rate permissible under applicable law, whichever is lower; (ii) Collection-related costs; (iii) Bank or payment processing fees; (iv) If You were granted any discount for the Application, the price of the Application will be retroactively updated by eliminating the discount and the difference between the standard price and the discounted price will immediately be considered owed by You. If payment is not successfully processed within fourteen (14) days of initiation, we may, at our discretion, cancel or suspend Your Subscription and access to the Application.