CALCULATION OF PENALTY AND INTEREST Sample Clauses

CALCULATION OF PENALTY AND INTEREST. In determining the amount of penalty and interest due in the event of a breach of this Agreement, the District shall determine the base amount of taxes owed less any Tax Credit under Article 6 of this Agreement for each year during the term of this Agreement since the Commencement Date. The District shall calculate penalty or interest for each year during the term of this Agreement since the Commencement Date in accordance with the methodology set forth in Chapter 33 of the Texas Tax Code, as if the base amount calculated for such years less all credits under Article 6 had become due and payable on February 1 of the calendar year following such year. Penalties on said amounts shall be calculated in accordance with the methodology set forth in the Code §33.01(a) or its successor statute provided however, that no penalties shall accrue until sixty (60) days after Applicant has received written notice from the District stating the amount due to the District. Interest on said amounts shall be calculated in accordance with the methodology set forth in the Code §33.01(c), or its successor statute.
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CALCULATION OF PENALTY AND INTEREST. In determining the amount of penalty or interest, or both, due in the event of a breach of this Agreement, the District shall first determine the base amount of recaptured taxes owed less all credits under Section 7.4 for each Tax Year during the term of this Agreement since the Commencement Date. The District shall calculate penalty or interest for each Tax Year during the term of this Agreement since the Commencement Date in accordance with the methodology set forth in Chapter 33 of the Texas Tax Code, as if the base amount calculated for such Tax Year less all credits under Section 7.4 had become due and payable on February 1 of the calendar year following such Tax Year. Penalties on said amounts shall be calculated in accordance with the methodology set forth in Texas Tax Code § 33.01(a), or its successor statute. Interest on said amounts shall be calculated in accordance with the methodology set forth in Texas Tax Code § 33.01(c), or its successor statute.
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CALCULATION OF PENALTY AND INTEREST. In determining the amount of penalty or interest, or both, due in the event of a Material Breach of this Agreement, the District shall first determine the base amount of recaptured taxes owed less all credits under Section 7.4 for each Tax Year during the term of this Agreement since the Commencement Date. The District shall calculate penalty or interest for a Tax Year in accordance with the methodology set forth in Chapter 33 of the Texas Tax Code, as if the amount calculated for such Tax Year had become due and payable on February 1 of the calendar year following such Tax Year. Penalties on said amounts shall be calculated in accordance with the methodology set forth in Texas Tax Code § 33.01(a), or its successor statute. Interest on said amounts shall be calculated in accordance with the methodology set forth in Texas Tax Code § 33.01(c), or its successor statute.
Sample 1
CALCULATION OF PENALTY AND INTEREST. In determining the amount of interest due in the event of a breach of this Agreement, the District shall first determine the base amount of recaptured taxes owed less all credits under Section 7.4 for each Tax Year in which said breach has occurred and not been cured since the Commencement Date. The District shall calculate interest for each of said Tax Years at the rate of six percent (6%) per annum.
Sample 1

Related to CALCULATION OF PENALTY AND INTEREST

  • Interpretation of principal and interest Any reference in the Conditions to principal in respect of the Notes shall be deemed to include, as applicable:

  • Notification of Rate of Interest and Interest Amounts The Agent or the Calculation Agent, as applicable, will cause the Rate of Interest and each Interest Amount for each Interest Period and the relevant Interest Payment Date to be notified to the Issuer and any stock exchange on which the relevant Floating Rate Notes are for the time being listed (by no later than the first day of each Interest Period) and notice thereof to be published in accordance with Condition 13 as soon as possible after their determination but in no event later than the fourth London Business Day thereafter. Each Interest Amount and Interest Payment Date so notified may subsequently be amended (or appropriate alternative arrangements made by way of adjustment) without prior notice in the event of an extension or shortening of the Interest Period. Any such amendment will promptly be notified to each stock exchange on which the relevant Floating Rate Notes are for the time being listed and to the Noteholders in accordance with Condition 13. For the purposes of this paragraph, the expression London Business Day means a day (other than a Saturday or a Sunday) on which banks and foreign exchange markets are open for general business in London.

  • DEFINITIONS AND INTERPRETATION Definitions 1.1 In this Contract, unless the contrary intention appears: Activity End Date means the date reported as such in a Student Statistical Report for an individual's enrolment in an individual subject. Activity Start Date means the date reported as such in a Student Statistical Report for an individual's enrolment in an individual subject. Apprentice has the meaning given to it in the Act. Approved Training Scheme means a training scheme approved under section 5.5.2 of the Act. Brokering Services means the recruitment of individuals to participate in Skills First subsidised training in exchange for payment from the Training Provider or the student. It excludes activities carried out by individuals who are employees of the Training Provider on the Training Provider’s payroll, whose role includes the identification and recruitment of potential students. Business Day means a day which is not a Saturday, Sunday or a public holiday in Melbourne, Victoria.

  • Definition and Interpretation 1.1 Except as otherwise defined in the terms or context hereof, the following terms in this Agreement shall have the following meanings:

  • Definitions and Interpretation 1.1 In this Agreement:

  • A1 Definitions and Interpretation A1.1 In this Contract unless the context otherwise requires the following provisions shall have the meanings given to them below:

  • Calculation of Charges Contractor shall provide an invoice to the City on a monthly basis for goods delivered and/or Services completed in the immediate preceding month, unless a different schedule is set out in Appendix B, “Calculation of Charges.” Compensation shall be made for goods and/or Services identified in the invoice that the City, in his or her sole discretion, concludes has been satisfactorily performed. In no event shall the amount of this Agreement exceed [insert whole dollar amount in numbers and words -- no pennies and no “.00”]. The breakdown of charges associated with this Agreement appears in Appendix B, “Calculation of Charges.” A portion of payment may be withheld until conclusion of the Agreement if agreed to by both Parties as retainage, described in Appendix B. In no event shall City be liable for interest or late charges for any late payments. City will not honor minimum service order charges for any services covered by this Agreement.

  • DETERMINATIONS AND NOTIFICATIONS IN RESPECT OF NOTES AND INTEREST DETERMINATION (a) The Agent shall, unless otherwise specified in the applicable Final Terms, make all the determinations and calculations which it is required to make, if any, under the Conditions, all subject to and in accordance with the Conditions.

  • Determination of Rate of Interest and calculation of Interest Amounts The Agent will at or as soon as practicable after each time at which the Rate of Interest is to be determined, determine the Rate of Interest for the relevant Interest Period. The Agent will calculate the amount of interest (the Interest Amount) payable on the Floating Rate Notes for the relevant Interest Period by applying the Rate of Interest to:

  • Definition of Overpayments An “Overpayment” means any funds that Xxxxxx receives or retains under any Federal health care program to which Xxxxxx, after applicable reconciliation, is not entitled under such Federal health care program.‌

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