Penalties for Late Payment. The Partnership shall be subject to the following penalties for late payments: (a) 1% per month or part of a month during the period May 2 to June 30 following the due date; and (b) 1 1 2% per month or part of a month on or after July 1 following the due date.
Appears in 3 contracts
Sources: Payment in Lieu of Taxes Agreement, Payment in Lieu of Taxes Agreement, Payment in Lieu of Taxes Agreement
Penalties for Late Payment. The Partnership shall be subject to the following penalties for late payments:
(a) 1% per month or part of a month during the period May April 2 to June 30 following the due date; and
(b) 1 1 2% per month or part of a month on or after July 1 following the due date.
Appears in 2 contracts
Sources: Payment in Lieu of Taxes Agreement, Payment in Lieu of Taxes Agreement