Interest and Expenses. 6.1 You will pay interest to us on any amount that you fail to pay punctually to us under this guarantee. That interest will be payable for the period from the date the amount is demanded or if in respect of any loss or expense the date, if earlier, on which the relevant loss or expense arose, until the date of actual payment (whether or not such payment is after a court judgment or any matter, circumstance or event falling within clause 8.3). During that period that interest will accrue on a daily basis at the rate of 5% per annum (using a 365 day year) over the Bank of England’s official bank rate (commonly known as its base rate or, if that ceases to be available, any comparable rate that we reasonably decide and notify to you) from time to time during that period.
6.2 You agree to fully indemnify us in respect of each expense which we incur when we ask you to do so.
6.3 If we have to pay any expense to third parties, we will try to give notice to you within a reasonable time stating the amount of the expense, brief details of the general nature of the expense and the date on which we have to pay the expense.
Interest and Expenses. If the Company shall fail or refuse to pay any amount due under this Section 9 within the time required, the Company shall pay to Executive, in addition to the payment of any other sums required under this Section:
(a) interest, compounded daily, on any amount remaining unpaid from the date payment is required under this Section until payment to Executive, at the rate from time to time announced by Corestates Bank as its prime rate plus 1.5%, each change in the rate of interest hereunder to take effect on the effective date of the change in such prime rate; and
(b) on demand, the amount necessary to reimburse Executive for all expenses (including reasonable attorneys' fees and disbursements) incurred by Executive in enforcing any of the obligations of the Company under this Section.
Interest and Expenses. As an additional condition to the effectiveness of the transactions described in this Amendment, Borrower agrees to pay to Lender any and all costs and expenses (including, without limitation, reasonable attorneys’ fees and litigation expenses, appraisal and review, environmental update and review, survey, title searches and endorsements, and recording costs) incurred by Lender and arising out of or relating to the preparation and negotiation of this Amendment or any breach of any covenant or agreement or the incorrectness or inaccuracy of any representation and warranty of Borrower contained in this Amendment or any document delivered to Lender by Borrower pursuant to the terms of this Amendment or the other Loan Documents.
Interest and Expenses. In the event that Pledgor shall --------------------- fail to pay in full within 35 days of the due date any of the Unfunded Commitment Obligations, it will upon demand pay to Pledgee (a) in respect of the period commencing on the date of such payment default and ending on the date its Unfunded Commitment equals zero, interest (computed on the basis of a 360-day year of twelve 30-day months) on the aggregate amount of its Unfunded Commitment at a fluctuating rate per annum equal to the Company's borrowing rate under the Credit Agreement, plus four percent (4%), provided that in no event shall the--------Pledgor be obligated to pay interest in excess of the maximum interest rate permitted under applicable law, and (b) the amount of all reasonable expenses, including the reasonable fees and expenses of its counsel and of any experts and agents, that Pledgee may incur in connection with (i) the administration of this Agreement, (ii) the custody or preservation of, or the sale of, collection from, or other realization upon, any of the Collateral, (iii) the exercise or enforcement of any of the rights of Pledgee hereunder or (iv) the failure by Pledgor to perform or observe any of the provisions hereof.
Interest and Expenses. Article 17 Except otherwise specified in this Agreement or a specific business document, the interest of a single business under this Agreement shall be calculated according to the actual occupation days × actual financing amount × daily interest rate from the date of release or date of payment by the Bank. If the currency is Hong Kong dollar or pounds, the daily interest rate is = annual interest rate /365. In the event that a currency other than Hong Kong dollar or pounds is used, the daily interest rate is = annual interest rate /360. Interest of a specific business shall be calculated according to the stipulations of relevant business documents. The funds received prior to the financing amount of a specific business is due may be used directly for prepaying relevant financing principal and interest.
Article 18 In the event that the Client fails to repay any principal, interest and other expenses specified in this Agreement or a specific business document under this Agreement, the Bank shall have the right to charge penalty interest at the overdue interest rate from the date of delay in repaying the financing principal, interest and other expenses until the Client repays all of the financial principal and interest. The overdue interest rate shall be % plus the interest rate level specified in the specific business document under this Agreement.
Article 19 In the event that the Client fails to pay interest on time, the Bank shall have the right to charge compound interest at the overdue interest rate by month on the expiry date for interest or a date corresponding to the expiry date for interest. Compound interest shall be calculated according to the number of actual days delayed and accrued cumulatively month by month.
Article 20 In the event that the People’s Bank of China adjusts the benchmark interest rates of loans and such adjustment applies to the trade financing business under this Agreement, the Bank shall have the right to determine the new contract loan interest rate according to the original floating proportion on the basis of the benchmark interest rates after this adjustment, and interest shall be calculated by period. The contract loan interest rate after this adjustment shall be applicable from the first day after the first expiry date for interest after this adjustment. Interest shall be calculated at the contract loan interest rate after adjustment on the current date of application. In case of change of the contract loan interest rate,...
Interest and Expenses. The interest rate on loans and financing within the line of credit and charges / expenses on relevant business types shall be calculated and collected as specified in various contracts.
Interest and Expenses. 4.1 The financing adopts (please tick “Ö” in either of the following two options): ☐ Fixed interest rate ☑ Floating interest rate
4.2 Determination of interest rate during the contract period (please tick “Ö” in “☐” if applicable):
4.2.1 The interest rate takes the ☑ monthly/☐/daily Libor on the pricing day or one or two working days before the pricing day in the same currency as the loan as the benchmark to ☑add or ☐ subtract 95 basis points (BPs). Party A shall determinate the date of interest rate determination as the pricing date, or one or two working days before the pricing date in accordance with international practices. The pricing date refers to the reference date used to determine the benchmark interest rate in the loan term or floating period. If the loan adopts fixed interest rate, the pricing date shall be the actual loan issuing date; if the loan adopts floating interest rate, the pricing date shall be determined in accordance with Article 4.2.2.
4.2.2 The floating interest rate shall float monthly/ / daily, and the applicable benchmark interest rate in each floating period shall be determined as agreed herein. The actual issuance date of the loan is the pricing date of the first floating cycle, and then ☐ the first day of each floating cycle thereafter shall be the pricing date of such floating cycle; or ☑ the interest collection date of each floating cycle is the pricing date of the next floating cycle (please tick “Ö” in either of the following two options)
4.2.3 Party A is entitled to adjust such basis points, regularly or irregularly, in combination with changes in relevant national policies, international credit loan market prices or Party A’s own credit loan policies. Such adjustment shall take effect as from the date of notification from Party A to Party B (The notice shall be made through announcement at Party A’s outlets or on the official website of CMBC, or by sending to any contact address/method reserved by Party B herein); If Party B does not accept such adjustment, Party B shall have the right to make early repayment as agreed herein. Otherwise, it shall be deemed that it agrees to implement the benchmark interest rate and/or interest rate pricing method as adjusted by Party A. Whenever the benchmark interest rate (applicable LIBOR or HIBOR) is less than 0, the benchmark interest rate (applicable LIBOR or HIBOR) shall be taken as 0. In case of any discrepancy between this clause and the remaining provisions hereof, the former ...
Interest and Expenses. The amount of all or any portion of any Tax Benefit Payment, Additional Payment, or any other payment required to be made by PubCo under this Agreement following a Reconciliation Dispute with respect to which the Stockholders’ Representative is the prevailing party shall be payable, together with interest thereon (computed at a rate per annum of LIBOR plus 100 basis points) commencing from the date on which such Tax Benefit Payment, Additional Payment, or other payment under this Agreement would have originally been due and payable in the absence of such Reconciliation Dispute. In the event of any litigation relating to this Agreement, the prevailing party in any such litigation shall be entitled to recover from the other party the reasonable legal fees and expenses such prevailing party has incurred in connection with such litigation.
Interest and Expenses. 1. As for the start date, due date, amount, interest rate, interest calculation means, interest settlement means, expense type or scope, expense rate, expense calculation means, and expense payment means of single transaction of trade financing hereunder, such items shall be determined based on related legal documents of such transaction. If both parties cannot reach agreement through consultations, Party B may reject Party A's application. LIBOR interest rate refers to the inter-bank offered rate of the above period and currency, released by BBA provided by financial telecom terminals such as Xxxxxx at 11.00 a.m. (London time) two banking days prior to the loan or financing day or interest rate adjustment day. HIBOR interest rate refers to the inter-bank offered rate of the above period and currency, released by HKAB provided by financial telecom terminals such as Xxxxxx at 11.00 a.m. (Hong Kong time) two banking days prior to the loan or financing day or interest rate adjustment day.
2. The expenses Party A must cover or pay to Party B hereunder include:
(1) Quota management fee. See Article 14 hereof;
(2) Actual incurred expenses arising from Party B's handling of each business hereunder;
(3) The expenses arising from Party B's recovery from related parties for withdrawal of payment under quota-related L/C, document and warranty;
(4) Other expenses agreed by both parties Article 5 use of the trade financing quota
1. Within the trade financing quota and its validity period hereunder, Party A may raise written quota withdrawal application piece by piece, and Party B will handle the trade financing transaction for Party A piece by piece after review and consent.
2. At any time in the quota validity period, the sum of quota principal balance occupied by each transaction shall not exceed the total trade financing quota, and the sum of quota principal balance occupied by each transaction under each sub-quota shall not exceed such sub-quota.
Interest and Expenses. The interest of the loans and funds within the line of credit, and expenses charged for corresponding transaction shall be determined in accordance with the terms of specific contracts.
