Common use of Due date and interest Clause in Contracts

Due date and interest. (1) The entitlement to profit pursuant to § 2 or, as the case may be, the entitlement to compensation for a net loss pursuant to § 3 is due on the day after the last day of the controlled company's fiscal year to which the respective entitlement pertains. (2) The entitlement to profit pursuant to § 2 or, as the case may be, the entitlement to compensation for a net loss pursuant to § 3 must be settled no later than one day after expiry of a three-month period following approval of the controlled company's annual financial statements. (3) Interest at the statutory rate is payable for the period between the due date and the date of actual settlement of the entitlements specified in para. (1) above. This does not affect any claims arising from delayed payment.

Appears in 3 contracts

Samples: Domination and Profit and Loss Transfer Agreement, Domination and Profit and Loss Transfer Agreement, Domination and Profit and Loss Transfer Agreement

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Due date and interest. (1) The entitlement to the transfer of profit pursuant to § 2 or, as the case may be, the entitlement to compensation for a net loss for the year pursuant to § 3 is due on at the day after end of the last day of the controlled company's Controlled Company’s fiscal year to which the respective relevant entitlement pertains. (2) The entitlement to the transfer of profit pursuant to § 2 or, as the case may be, the entitlement to compensation for a net loss pursuant to § 3 must be settled satisfied no later than one day after expiry at the end of a three-month period three months following approval of the controlled company's Controlled Company’s annual financial statements. (3) Interest at the applicable statutory rate is payable for the period between the due date and the date of actual settlement satisfaction of the entitlements specified in para. paragraph (1) above. This does not affect any claims Claims arising from any delayed paymentpayment remain unaffected.

Appears in 2 contracts

Samples: Domination and Profit and Loss Transfer Agreement, Domination and Profit and Loss Transfer Agreement

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