Examples of Overdue Interest Rate in a sentence
Any installment of interest that is not paid when and as due shall bear interest at the Overdue Interest Rate from the date due to the date of payment thereof, but only to the extent payment of such interest shall be lawful and enforceable.
If the Company defaults in a payment of interest on the Securities, it shall pay the defaulted interest and, to the extent permitted by law, interest on defaulted interest at the Overdue Interest Rate to the persons who are Securityholders of record as of a subsequent date designated as a "Special Record Date" for such payment.
Any sums payable by Tenant hereunder which are not paid after the same shall be due shall bear interest, from the due date until paid, at the Overdue Interest Rate.
Penalty Rate shall mean the higher of (x) 2% per annum in excess of the Prime Rate and (y) 2% per annum in excess of the Overdue Interest Rate.
Lessee will also pay, on demand, to the extent permitted by Applicable Law, interest at the Overdue Interest Rate on any part of any installment of Rent not paid when due for any period for which the same shall be overdue for the period from such due date or demand until the same shall be paid.