Penal Charges Clause Samples

Penal Charges. The borrower shall be liable to pay penal charges if any levied by the banks on account of cheque bouncing, cheque swapping or on return of any cheque issued by the borrower.
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Penal Charges. Without prejudice to generality of the foregoing the Bank shall also be entitled to charge and the Borrower shall be liable to pay such Penal Charges for any breach/non-compliance of Material Terms and Conditions and for such period as the irregularity or breach continues or for such time as the Bank may decide it necessary. Provided that the charging and the payment of Penal Charges shall be without prejudice to the other rights or remedies of the Bank either hereunder or Loan Documents or otherwise or by law to proceed for such irregularity or breach against the Borrower and/ or the Security hereby created.
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Penal Charges. The Bank will be entitled to recover the Penal Charges together with taxes as applicable. The Bank shall not charge any interest on the Penal Charges payable, however the Bank shall be entitled to recover from the Borrower/ Guarantor, Penal Charges whenever due either as part of the repayment or separately. No notice, reminder or intimation shall be given to the Borrower/ Guarantor in this regard.
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Penal Charges i. If the successful tenderer fails to pay the License fee and other charges due to the Railway Administration within the stipulated time, Railway administration reserves the right to impose fine. He/she is liable to pay the prescribed fine imposed by administration. ii. The licensee/licensees shall be liable to pay such penalty as the Railway Administration may inflict for complaints against the licensee/licensees Managers etc., which, in the opinion of the Railway Administration are bonafide and substantiated. Without prejudice to the other remedies, which may be available under the agreement, the licensee/licensees shall be liable to pay at the sole discretion of the Railway Administration a penalty to be decided depending on the discrepancy noticed and as described in the agreement for any action in contravention of any of the clause of this agreement. iii. The scale of penalties to be imposed shall be on account of excess charging, complaints, deviation to the agreement clause etc. The penalties to be imposed by the inspecting officials shall be as under: Asst. Scale/Sr. Scale (Divisional officers) up to – Rs.2,000/- per occasion. JAG/Selection Grade (Divisional/Hqrs) up to – Rs.6,000/- per occasion SAG and above (Divisional/Hqrs) up to - Rs.10,000/- per occasion In case of any disputes with passengers, the licensee shall bring it to the notice of SS/SMR on duty. In case of repeated occurrences for over charges of tariff rates in Pay & Use toilets, the competent authority having right to serve a notice to the licensee for termination of license agreement duly following the procedure and rules in force as applicable.
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Penal Charges. 5.1 In the event of default on the part of the Borrower in making payment of the Outstanding Dues on the Repayment Date or Due Date or any other amount due and payable under the Loan Documents, as and when the same is/are due to be paid, the Borrower shall pay to the Lender the Penal Charges as mentioned in the Schedule I. Such Penal Charges are cumulative in nature and shall be payable ಸಾಲದಾತರಿಗೆ ಪ್ರವತ್ತಗೆ ಬ್ಲಕ್ತಯಿರುವ ಎಲಾಿ ಮತೆ ದ ಪ್ರವತ್ತಯನ್ನು ಯವಾಗಲ್ಯ ಸಾಲಗರರ ಎಸ್ಟ ೇಟ್ ಮತ್ತೆ ಸವ ತ್ತೆ ಗಳ ಪ್ರವಾಗಿ ಜಾರಿಗಳಿಸಬಹುದು ಮತ್ತೆ ಈ ಪ್ಪ ಿಂದವು ಸಾಲಗರರ ಉತೆ ರಾಧಿಕಾರಿಗಳು, ಕಾಯ್‌ನಿವಾ್‌ಹಕರು, ಕಾನೂನ್ನ ಪ್ರ ತ್ತನಿಧಿಗಳು ಮತ್ತೆ ಆಡಳಿತಗರರ ಮೆೇಲ್ ಬ್ಲಧಯ ತ್ತ ಪ್ರಿಣಾಮವನ್ನು ಹಿಂØರುತೆ ದ ಎಿಂದು ಸಾಲಗರರು ಪ್ಪಪ ತ್ತೆ ರ.
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Penal Charges. Prepayment Charge, if any and fees;
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Penal Charges all other sums and charges of whatsoever nature, including, but not limited to interest on account of default in payment of insurance premia, and on account of other taxes.
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Penal Charges. In case the Borrower fails to pay any of its dues and/or defaults in payment of the Outstanding Balance/ instalment(s) on respective Due Date(s) hereunder or in fulfillment of any of the terms and conditions contained herein or under the Facility Letter or Schedule hereto or as may be stipulated by the Bank from time to time, the Borrower shall be liable to pay penal charges at the rate mentioned in the Facility Letter, which rate shall be over and above the applicable Interest Rate in respect of all the Outstanding Balance (“Penal Charges”) from the date of the default till the date of actual payment in full or cure of default to the satisfaction of the Bank, as the case maybe, without prejudice to the Bank's other rights available as per this Agreement. Provided also that the obligation to pay Penal Charges shall not entitle the Borrower to claim a defense that no event of default as mentioned hereunder has occurred or if occurred has been remedied by virtue of such payment. The Borrower shall be liable to pay the applicable Taxes, if any, on the Penal Charges in addition to the Penal Charges.
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Related to Penal Charges

  • Additional Charges In addition to the Base Rent and Percentage Rent, (a) Lessee also will pay and discharge as and when due and payable all other amounts, liabilities, obligations and Impositions that Lessee assumes or agrees to pay under this Lease, and (b) in the event of any failure on the part of Lessee to pay any of those items referred to in clause (a) of this Section 3.3, Lessee also will promptly pay and discharge every fine, penalty, interest and cost that may be added for non-payment or late payment of such items (the items referred to in clauses (a) and (b) of this Section 3.3 being additional rent hereunder and being referred to herein collectively as the “Additional Charges”), and Lessor shall have all legal, equitable and contractual rights, powers and remedies provided either in this Lease or by statute or otherwise in the case of non-payment of the Additional Charges as in the case of non-payment of the Base Rent. If any installment of Base Rent and Percentage Rent or Additional Charges (but only as to those Additional Charges that are payable directly to Lessor) shall not be paid on its due date, Lessee will pay Lessor on demand, as Additional Charges, a late charge (to the extent permitted by law) computed at the Overdue Rate on the amount of such installment, from the due date of such installment to the date of payment thereof. To the extent that Lessee pays any Additional Charges to Lessor pursuant to any requirement of this Lease, Lessee shall be relieved of its obligation to pay such Additional Charges to the entity to which they would otherwise be due and Lessor shall pay same from monies received from Lessee.

  • NO ADDITIONAL CHARGES Unless otherwise specified herein, Contractor shall not include or impose any additional charges including, but not limited to, charges for shipping, handling, insurance, or payment processing.

  • RENTAL CHARGES Total charges as set out in the Rental Agreement are not final. The Customer will pay any shortfall in charges to maui and the Customer will receive a refund for any overcharges made by maui. Wherever possible, any amendment to charges will be notified to the customer at conclusion of rental, and the customer agrees to payment of any such charges at that time.

  • Service Fees and Additional Charges Any applicable fees will be charged regardless of whether the Service was used during the billing cycle. There may be a charge for additional transactions and other optional services. You agree to pay such charges and authorize the Service to deduct the calculated amount from your designated Billing Account for these amounts and any additional charges that may be incurred by you. Any financial fees associated with your standard deposit accounts will continue to apply. You are responsible for any and all telephone access fees and/or Internet service fees that may be assessed by your telephone and/or Internet service provider.

  • Governmental Charges Seller shall pay or cause to be paid all taxes imposed by any Governmental Authority (“Governmental Charges”) on or with respect to the Product or the Transaction arising at the Delivery Point, including, but not limited to, ad valorem taxes and other taxes attributable to the Project, land, land rights or interests in land for the Project. Buyer shall pay or cause to be paid all Governmental Charges on or with respect to the Product or the Transaction from the Delivery Point. In the event Seller is required by Law or regulation to remit or pay Governmental Charges which are ▇▇▇▇▇’s responsibility hereunder, ▇▇▇▇▇ shall reimburse Seller for such Governmental Charges within thirty (30) days of Notice by Seller. If Buyer is required by Law or regulation to remit or pay Governmental Charges which are Seller’s responsibility hereunder, Buyer may deduct such amounts from payments to Seller with respect to payments under the Agreement; if Buyer elects not to deduct such amounts from Seller’s payments, Seller shall reimburse Buyer for such amounts within thirty (30) days of Notice from Buyer. Nothing shall obligate or cause a Party to pay or be liable to pay any Governmental Charges for which it is exempt under the Law. A Party that is exempt at any time and for any reason from one or more Governmental Charges bears the risk that such exemption shall be lost or the benefit of such exemption reduced; and thus, in the event a Party’s exemption is lost or reduced, each Party’s responsibility with respect to such Governmental Charge shall be in accordance with the first four sentences of this Section.