Default Interest; Late Payment Charge Sample Clauses

Default Interest; Late Payment Charge. 8 3.3 Payments ......................................................................... 8 3.4
Sample 1
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Default Interest; Late Payment Charge. To the extent permitted by law, upon the occurrence and during the continuation of any Event of Default, Borrower shall pay interest on the entire principal amount of the Loan then outstanding and all other sums due under the Loan, at a rate per annum equal to the interest rate then in effect pursuant to Section 3.1 above plus five percent (5%) (the "Default Rate"). The rate of interest payable under this SECTION 3.2 shall accrue before and after any judgment has been entered. In addition, Borrower shall pay a late payment charge equal to five percent (5%) of the amount of any payment due under the Loan which is not received by Bank within ten (10) days after the date such payment is due. Borrower acknowledges that the increased interest rate and the late payment charge provided for herein reflect, among other things, the fact that the Loan has become a substantially greater risk given its default status and that Bank is entitled to additional compensation for such risk.
Sample 1
Default Interest; Late Payment Charge. To the extent permitted by law, upon the occurrence and during the continuation of any Event of Default, Borrower shall pay interest on the entire principal amount of the Loan then outstanding and all other sums due under the Loan, at a rate per annum equal to the Prime Rate plus five percent (5%) (the "Default Rate"). The rate of interest payable under this Section 3.3 shall accrue before and after any judgment has been entered. In addition, Borrower shall pay a late payment charge equal to five percent (5%) of the amount of any payment due under the Loan which is not received by Bank within ten (10) days after the date such payment is due. Borrower acknowledges that the increased interest rate and the late payment charge provided for herein reflect, among other things, the fact that the Loan has become a substantially greater risk given its default status and that Bank is entitled to additional compensation for such risk.
Sample 1
Default Interest; Late Payment Charge. 26 SECTION 2.08. Mandatory Repayments of Principal......... 26 SECTION 2.09. Termination and Reduction of Commitments.............................................. 28 SECTION 2.10. Optional Prepayment....................... 28 SECTION 2.11. Reserve Requirements; Change in Circumstances............................................ 29 SECTION 2.12. Indemnity................................. 30 SECTION 2.13. Pro Rata Treatment........................ 31 SECTION 2.14.
Sample 1
Default Interest; Late Payment Charge. (a) If the Borrower shall default in the payment of the principal of or interest on the Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount from the date such amount was due through and including the date of actual payment (after as well as before judgment) at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days) equal to the sum of the Applicable Interest Rate in effect from time to time plus 2.00%. Such rate of interest is referred to herein as the "Default Rate".
Sample 1
Default Interest; Late Payment Charge. The Applicant(s) shall pay the default rate (before and after judgement) at the rate of one per centum (1.0%) per annum on total outstanding month in arrears on:
Sample 1

Related to Default Interest; Late Payment Charge

  • Interest Loan Payments Late Payment Charge 49 2.2.1 Payments. 49 2.2.2 Interest Calculation. 51

  • Late Payment Charge If any principal, interest or any other sums due under the Loan Documents (including the amounts due on the Maturity Date) are not paid by Borrower on or prior to the date on which it is due, Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the Maximum Legal Rate in order to defray the expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Mortgage and the other Loan Documents to the extent permitted by applicable law.

  • Late Payment Charges Except for Disputed Amounts, if a Party fails to remit payment for any charges for services by the Xxxx Due Date, or if a payment or any portion of a payment is received by a Party after the Xxxx Due Date, or if payment is not made by check that is currently dated and drawn on an account with sufficient available funds, then a late payment charge may be assessed as provided in Section 27.8.

  • Payment of Default Interest Any interest which shall have accrued under Clause 16.2 (Default Interest) in respect of an unpaid sum shall be due and payable and shall be paid by the Borrower at the end of the period by reference to which it is calculated or on such other dates as the Lender may specify by written notice to the Borrower.

  • Default Interest Rate From and after the occurrence of any Event of Default, and so long as any such Event of Default remains unremedied or uncured thereafter, the Obligations outstanding under the Agreement shall bear interest at a per annum rate of five percent (5%) above the otherwise applicable interest rate hereunder, which interest shall be payable upon demand. In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar days after the payment due date therefor, but acceptance of payment of any such charge shall not constitute a waiver of any Event of Default under the Agreement. In no event shall the interest payable under this Addendum and the Agreement at any time exceed the maximum rate permitted by law.

  • Default Interest Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

  • Payment of default interest on overdue amounts The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is:

  • Default Interest; Other Amounts Prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party that defaults in the performance of any payment obligation will, to the extent permitted by law and subject to Section 6(c), be required to pay interest (before as well as after judgment) on the overdue amount to the other party on demand in the same currency as such overdue amount, for the period from (and including) the original due date for payment to (but excluding) the date of actual payment, at the Default Rate. Such interest will be calculated on the basis of daily compounding and the actual number of days elapsed. If, prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party defaults in the performance of any obligation required to be settled by delivery, it will compensate the other party on demand if and to the extent provided for in the relevant Confirmation or elsewhere in this Agreement.

  • Post-Default Interest Upon the occurrence, and during the continuance, of any Event of Default, the unpaid principal amount of each Advance shall bear interest at a rate per annum equal at all times to 2% per annum above the rate per annum otherwise required to be paid on such Advance in accordance with subsection (a), (b) or (c) above; provided that any amount of principal which is not paid when due (whether at stated maturity, by acceleration or otherwise) shall bear interest, from the date on which such amount is due until such amount is paid in full, payable on demand, at a rate per annum equal at all times to the greater of (x) 2% per annum above the Base Rate in effect from time to time and (y) 2% per annum above the rate per annum required to be paid on such Advance immediately prior to the date on which such amount became due.

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