Overdue Sums Sample Clauses

The "Overdue Sums" clause defines the procedures and consequences when a party fails to pay amounts owed by the due date under the agreement. Typically, this clause stipulates that overdue payments will accrue interest at a specified rate, and may outline additional administrative fees or penalties for late payment. For example, if an invoice remains unpaid beyond the agreed terms, the creditor may charge interest on the outstanding balance until it is settled. The core function of this clause is to incentivize timely payment and compensate the owed party for the delay, thereby reducing the risk of cash flow disruptions and encouraging financial discipline between the parties.
Overdue Sums. We reserve the right to charge interest on all overdue sums at the rate of 1.5% per month (or the highest legal limit if lower than said amount), measured from the date the sums in question became payable to the date on which we receive full payment.
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Overdue Sums. Any overdue principal of, or interest on, any Note shall bear interest, payable on demand, for each day from and including the date payment thereof was due to, but excluding, the date of actual payment, at a rate per annum (the "Default Rate") equal to the lesser of (A) the Maximum Legal Rate of Interest, or (B) the then applicable Base Rate with respect to such Note plus four and twenty-five one-hundredths percent (4.25%).
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Overdue Sums. If Lessee should fail to timely pay any sum due Lessor hereunder, such amount shall bear interest at the Overdue Rate from the date due until paid.
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Overdue Sums. All overdue sums owed to Seller will bear interest at the maximum lawful rate per annum from the date due until paid, or twelve percent (12%) per annum, whichever is less. Further, if Purchaser fails to make timely payment of any amount due Seller, in addition to all other rights and remedies available, Seller may take such action as Seller deems reasonable under the circumstances. Without limiting the generality of the foregoing, Seller may setoff or equitably recoup against any amount then due Purchaser, defer further deliveries of the Products until payment of all outstanding indebtedness is made, and demand advance cash payment for further deliveries. Purchaser shall comply with the terms of any reclamation notice issued to Purchaser by Seller under applicable law.
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Related to Overdue Sums

  • Overdue Charges If any invoiced amount is not received by Us by the due date, then without limiting Our rights or remedies, (a) those charges may accrue late interest at the rate of 1.5% of the outstanding balance per month, or the maximum rate permitted by law, whichever is lower, and/or (b) We may condition future subscription renewals and Order Forms on payment terms shorter than those specified in Section 6.2 (Invoicing and Payment).

  • Overdue Payments Lessee shall pay interest on all overdue payments of Rent or other monetary amounts due hereunder at the rate of fifteen percent (15%) per annum or the highest rate allowed by law, whichever is less, accruing from the date such Rent or other monetary amounts were properly due and payable.

  • Overdue Amounts Until paid, all amounts due and payable by the Company hereunder shall be a debt secured by the Collateral and shall bear, whether before or after judgment, interest at the rate of interest for overdue principal set forth in the Transaction Documents.

  • Interest on Overdue Payments (a) If the User fails to pay an invoice by the Due Date, the User must, if required by the Service Provider, pay the Service Provider interest on any amount outstanding. (b) Interest will be calculated from the Due Date to the actual date of payment (both inclusive) at an annual percentage rate equal to the aggregate of: (i) the corporate overdraft reference rate (monthly charging cycle) applied by the Commonwealth Bank of Australia (Bank) as at the Due Date (or if the Bank ceases to quote such a rate, then the rate which in the opinion of the Bank is equivalent to such rate in respect of similar overdraft accommodation) expressed as a percentage; plus (ii) 2 per cent per annum.

  • Payment of default interest on overdue amounts The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.