Common use of Recurring Late Payments Clause in Contracts

Recurring Late Payments. ▇▇▇▇▇▇▇ understands that there may be very infrequent instances when Producer will experience a late payment. Late payments, however, result in significant expense to ▇▇▇▇▇▇▇ in both processing and mailing costs. Producer will be provided notification should recurring instances of late payments result in undue expense to ▇▇▇▇▇▇▇. Following proper notice and Producer’s failure to correct the recurrence of late payments, ▇▇▇▇▇▇▇ reserves the right to charge a handling fee to process any additional late payments on Producer’s behalf.