Liquidated Damages, Audit and Collection Sample Clauses

Liquidated Damages, Audit and Collection. A liquidated damages charge of fifteen percent (15%) is imposed for all delinquent payments of accounts required to be paid hereunder. A payment is considered delinquent if not received at the designated depository by the 20th day of the month following the end of the month when the work was performed. The parties agree that the Trustees of the Fund numerated herein have authority to alter the date upon which payments are considered delinquent and the liquidated damages percentage to be assessed. Payment of said liquidated damages shall accompany the payment of the delinquent account. The parties acknowledge that the amount of administrative cost imposed by late payments is difficult to determine and that the fifteen (15%) percent liquidated late charge assessment is seasonable under the circumstances. In the event any Employer fails to pay fringe benefits as set forth in this Agreement, and/or fails to have sufficient funds in the bank to pay checks issued to the Employee’s, the Union has the right to immediately withhold and withdraw the services of its members from such Employer. When an Employer becomes delinquent in the payment of fringe benefits, said Employer shall then be required to pay each individual Trust Fund on a weekly basis. These payments shall be mailed by certified mail to the respective fund offices. The Employer agrees to submit, upon request, all requested records to the trustees of the various funds or their designated agents or representatives for the purpose of conducting audits to determine the Employer’s compliance with the terms of this Agreement and the various Trust Agreements. If found to be delinquent, the Employer is obligated to pay all audit costs, attorney fees, court costs and any and all other related costs incurred by the Funds in the audit and delinquency process. The parties acknowledge that the Trustees of the various funds applicable herein have full authority and discretion in the manner in which they audit contractors and collect delinquencies.
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Related to Liquidated Damages, Audit and Collection

  • Payment of Liquidated Damages If you supply all or some of your milk to a third party during a Month you must, if required by DFMC, immediately pay to DFMC liquidated damages for that Month calculated as follows: $X = W cents x (Y – Z) Where: $X is the amount payable by you to DFMC for the relevant Month. If $X is a negative amount, no amount is payable by you. Y is the average monthly litres you have supplied to DFMC based on the 12 months immediately preceding the relevant Month (or in the event you have not supplied DFMC for 12 months, the average monthly litres you have supplied to DFMC during the period you have supplied DFMC). Z is the number of litres supplied to DFMC by you for the relevant Month.

  • Delay Liquidated Damages Delay Liquidated Damages has the meaning set out in GC 7.6.1.

  • Liquidated Damages The Company’s obligations to pay any partial liquidated damages or other amounts owing under the Transaction Documents is a continuing obligation of the Company and shall not terminate until all unpaid partial liquidated damages and other amounts have been paid notwithstanding the fact that the instrument or security pursuant to which such partial liquidated damages or other amounts are due and payable shall have been canceled.

  • Withholding for unpaid wages and liquidated damages The FHWA or the contacting agency shall upon its own action or upon written request of an authorized representative of the Department of Labor withhold or cause to be withheld, from any moneys payable on account of work performed by the contractor or subcontractor under any such contract or any other Federal contract with the same prime contractor, or any other federally-assisted contract subject to the Contract Work Hours and Safety Standards Act, which is held by the same prime contractor, such sums as may be determined to be necessary to satisfy any liabilities of such contractor or subcontractor for unpaid wages and liquidated damages as provided in the clause set forth in paragraph (2.) of this section.

  • Notice of Liquidated Damages System Agency will formally notify Grantee in writing when liquidated damages action is imposed, stating the nature of the action, the reasons for imposing, and the method of appealing. Grantee must submit a written appeal, within ten (10) calendar days of receipt of the notice, to the SUD email box, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇.▇▇.