Excess Interest Amount Sample Clauses

Excess Interest Amount. The rates set forth in Section 3.01(a) and Section 3.01(b), without giving effect to the reference therein to this Section 3.01(c) or to the last proviso in Section 3.01(a) limiting the Purchased Bond Rate to the Maximum Rate or the clause in 3.01(b) limiting the Default Rate to the Maximum Rate, are referred to in this Section 3.01(c) as the “Section 3.01(a)/(b) Rate.” The amount of interest, if any, that would accrue on Purchased Bonds or an Overdue Amount at the Section 3.01(a)/(b) Rate on any date but which does not so accrue due to the limitation of the Purchased Bond Rate and the Default Rate to the Maximum Rate, shall constitute “Excess Interest” (i.e., interest which would have been payable but for the Maximum Rate). Any unpaid Excess Interest with respect to (i) the Purchased Bond Rate is due and payable on the applicable Interest Payment Date and (ii) the Default Rate is due and payable on demand, as an obligation of the Commission under this Agreement, payable from and secured by a Lien on Revenues, but subordinate to the Lien on Revenues securing the payment of the principal of and interest on Bonds (including Purchased Bonds) and on amounts payable on a parity therewith. If, despite the immediately preceding sentence, any amount of Excess Interest remains unpaid, the cumulative Excess Interest, if any, on all days since the effective date hereof, reduced as set forth in the next sentence, shall constitute the “Excess Interest Amount.” If there is any Excess Interest Amount on any date when the Section 3.01(a)/(b) Rate is less than the Maximum Rate, the Purchased Bond Rate or Default Rate, as applicable, for such date shall be the Maximum Rate rather than the Section 3.01(a)/(b) Rate and the Excess Interest Amount shall be reduced on such date by the excess of the amount of interest accrued on such date at the Maximum Rate over the amount of interest that would have accrued on such date at the Section 3.01(a)/(b) Rate; provided that if the accrual of interest on Purchased Bonds at the Maximum Rate (or the accrual of interest on Overdue Amounts at Maximum Rate) on any date would result in a reduction of the Excess Interest Amount to a negative number, such Purchased Bonds (or Overdue Amounts, as applicable) shall accrue interest on such date at such lesser rate as shall result in the reduction of the Excess Interest Amount on such date to zero. If on the date of maturity, redemption or remarketing of any Purchased Bonds, or on the date any Purch...
Sample 1
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Excess Interest Amount. If at any time the Bank Interest Rate, Term Loan Rate or the Default Rate payable on the Loan, the Series 2018 Bond or under this Agreement shall exceed the Maximum Rate for any day for which interest is payable, any Excess Interest Amount arising on any Interest Payment Date shall be paid in accordance with Section 36 hereof.
Sample 1

Related to Excess Interest Amount

  • Interest Amount Unless otherwise specified in Paragraph 13 and subject to Paragraph 4(a), in lieu of any interest, dividends or other amounts paid or deemed to have been paid with respect to Posted Collateral in the form of Cash (all of which may be retained by the Secured Party), the Secured Party will Transfer to the Pledgor at the times specified in Paragraph 13 the Interest Amount to the extent that a Delivery Amount would not be created or increased by that Transfer, as calculated by the Valuation Agent (and the date of calculation will be deemed to be a Valuation Date for this purpose). The Interest Amount or portion thereof not Transferred pursuant to this Paragraph will constitute Posted Collateral in the form of Cash and will be subject to the security interest granted under Paragraph 2.

  • Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges Borrower will pay each Periodic Payment when due. Borrower will also pay any prepayment charges and late charges due under the Note, and any other amounts due under this Security Instrument. Payments due under the Note and this Security Instrument must be made in U.S. currency. If any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (d) Electronic Fund Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 16. Lender may accept or return any Partial Payments in its sole discretion pursuant to Section 2. Any offset or claim that Borrower may have now or in the future against Lender will not relieve Borrower from making the full amount of all payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument.

  • Late Payment Interest If the Customer fails to make payment by the agreed time, the Contractor shall be entitled to claim interest on any overdue amount, pursuant to the Act No. 100 of 17 December 1976 relating to Interest on Overdue Payments, etc. (Late Payment Interest Act).

  • Returned Payment Fee If your account is subject to a Returned Payment Fee, the fee will be charged to your account when a payment is returned for any reason.

  • Calculation of Liquidation Amount Upon the occurrence of a Liquidation Date:

  • Payment Amount Payment for the Services shall be as follows: (choose one) ☐ - $______________________ for the Services (“Payment”). ☐ - At an hourly rate of $____ per hour (“Payment”). ☐ - Other. ______________________________________________ (“Payment”) If the Subcontractor asserts a claim which involves, in whole or in part, acts or omissions which are the responsibility of the Client or another person for whom a claim may be submitted, including but not limited to, claims for failure to pay, an extension of time, impacts, delay damages, or extra work, the Contractor shall present the Subcontractor's claim to the Client or other responsible party provided the Subcontractor presents to Contractor competent supporting evidence and in sufficient time for the Contractor to do so. The Subcontractor shall cooperate fully with the Contractor in any and all steps the Contractor takes in connection with prosecuting such a claim and shall hold harmless and reimburse the Contractor for all expenses, including legal expenses, incurred by the Contractor which arise out of the Contractor's submission of the Subcontractor's claims to the Client or other responsible party(ies). The Subcontractor shall be bound by any adjudication or award in any action or proceeding resolving such a claim.

  • Contribution Amounts The Sellers and the Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 8 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 8(h). The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 8, no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.

  • Average Contribution Amount For purposes of this Agreement, to ensure that all employees enrolled in health insurance through the City’s HSS are making premium contributions under the Percentage-Based Contribution Model, and therefore have a stake in controlling the long term growth in health insurance costs, it is agreed that, to the extent the City's health insurance premium contribution under the Percentage-Based Contribution Model is less than the “average contribution,” as established under Charter section A8.428(b), then, in addition to the City’s contribution, payments toward the balance of the health insurance premium under the Percentage-Based Contribution Model shall be deemed to apply to the annual “average contribution.” The parties intend that the City’s contribution toward employee health insurance premiums will not exceed the amount established under the Percentage-Based Contribution Model.

  • 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.

  • Transfer of Interest Amount The Transfer of the Interest Amount will be made on the second Local Business Day following the end of each calendar month and on any other Local Business Day on which Posted Collateral in the form of Cash is Transferred to the Pledgor pursuant to Paragraph 3(b); provided, however, that the obligation of Party B to Transfer any Interest Amount to Party A shall be limited to the extent that Party B has earned and received such funds and such funds are available to Party B.

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