Interest and Late Payments. Except as otherwise specifically set forth herein, Owner’s payment for goods and services shall be governed by Chapter 2251 of the Texas Government Code. Interest charges for any overdue payments shall be paid by Owner in accordance with Texas Government Code Section 2251.025. More specifically, the rate of interest that shall accrue on a late payment is the rate in effect on September 1 of Owner’s fiscal year in which the payment becomes due. The said rate in effect on September 1 shall be equal to the sum of one percent (1%); and (2) the prime rate published in the Wall Street Journal on the first day of July of the preceding fiscal year that does not fall on a Saturday or Sunday.
Interest and Late Payments. County’s payment for goods and services shall be governed by Chapter 2251 of the Texas Government Code. Interest charges for any overdue payments shall be paid by County in accordance with Texas Government Code Section 2251.025. More specifically, the rate of interest that shall accrue on a late payment is the rate in effect on September 1 of County’s fiscal year in which the payment becomes due. The said rate in effect on September 1 shall be equal to the sum of one percent (1%); and (2) the prime rate published in the Wall Street Journal on the first day of July of the preceding fiscal year that does not fall on a Saturday or Sunday.
Interest and Late Payments. Owner’s payment for goods and services shall be governed by Chapter 2251 of the Texas Government Code. Interest charges for any overdue payments shall be paid by Owner in accordance with Texas Government Code Section 2251.025. More specifically, the rate of interest that shall accrue on a late payment is the rate in effect on September 1 of Owner’s fiscal year in which the payment becomes due. The said rate in effect on September 1 shall be equal to the sum of one percent (1%); and (2) the prime rate published in the Wall Street
Interest and Late Payments. County’s payment for goods and services shall be governed by Chapter 2251 of the Texas Government Code. Invoices shall be paid by County within thirty (30) calendar days from the date of the Xxxxxxxxxx County Auditor’s Office receipt of an invoice. Interest charges for any late payments shall be paid by County in accordance with Texas Government Code Section 2251.025. More specifically, the rate of interest that shall accrue on a late payment is the rate in effect on September 1 of County’s fiscal year in which the payment becomes due. The said rate in effect on September 1 shall be equal to the sum of one percent (1%); and (2) the prime rate published in the Wall Street Journal on the first day of July of the preceding fiscal year that does not fall on a Saturday or Sunday. In the event that a discrepancy arises in relation to an invoice, such as an incorrect amount on an invoice or a lack of documentation that is required to be attached to an invoice to evidence the amount claimed to be due, Xxxxxxxxxx County shall notify Billing Service Provider of the discrepancy. Following Xxxxxxxxxx County’s notification of any discrepancy as to an invoice, Billing Service Provider must resolve the discrepancy and resubmit a corrected or revised invoice, which includes all required support documentation, to Xxxxxxxxxx County Auditor’s Office. Xxxxxxxxxx County Auditor’s Office shall pay the invoice within thirty (30) calendar days from the date of the Xxxxxxxxxx County Auditor’s Office receipt of the corrected or revised invoice. Xxxxxxxxxx County Auditor’s Office payment of an invoice that contains a discrepancy shall not be considered late, nor shall any interest begin to accrue until the thirty-first (31st) calendar day following the Xxxxxxxxxx County Auditor’s Office receipt of the corrected or revised invoice.
Interest and Late Payments. 26 Section 3.2 Special Provisions Governing LIBOR Loans - Increased Costs............................28 Section 3.3 Required Termination and Repayment of LIBOR Loans.....................................29 Section 3.4 Fees..................................................................................29
Interest and Late Payments. In the event that Lessee fails to pay rent in this section when due, Lessee shall pay to Lessor interest on any sums not received when due which shall accrue at a rate of 12% per annum or the highest rate permitted by law, whichever shall be less (the “Interest Rate”). A grace period of 45 days may be granted prior to imposing interest with approval of the Lessor’s Representative.
Interest and Late Payments. (A) The rate of interest applicable to each Advance shall be the rate per annum determined by the Bank to be the AGGREGATE of (i) 0.6% AND (ii)
Interest and Late Payments. (a) If a Party fails to make a payment under this Agreement on time, including any disputed amount withheld in accordance with this Agreement which is subsequently determined to be payable, the defaulting or withholding Party must pay to the other Party interest on the amount not paid at the Interest Rate applied daily and compounded monthly from and including the due date for payment until, but excluding, the date on which full payment of that amount is made.
(b) Notwithstanding anything to the contrary in this Agreement,
(i) the Purchaser shall not commence discharging any Shipment from a Vessel prior to payment in full of the first instalment of the Shipment Value under Clause 14.2(b) (other than any disputed amount withheld in accordance with this Agreement); and
(ii) the Seller shall not be required to commence or complete loading or shipment of any Shipment while all or any part of the first instalment of the Shipment Value under Clause 14.2(b) for any previous Shipment is past due and outstanding (other than any disputed amount withheld in accordance with this Agreement).
(c) If the Purchaser fails to pay any instalment of the Shipment Value of any Shipment in full when due (other than any disputed amount withheld in accordance with this Agreement), the Seller may notify the Purchaser in writing, and if the Purchaser again fails to pay any amount owing within three (3) Business Days of such notice, then the Seller may elect by written notice to Purchaser to have title to the Biomass comprising the applicable Shipment revert to Seller, and upon delivery of such notice title to such Biomass shall immediately pass to the Seller and such quantity of Biomass shall be considered a Take or Pay Shortfall and the provisions of Clause 8.5 (Take or Pay) will apply.
(d) Following any notification under paragraph (c) above, the Seller shall
(i) return to the Purchaser any portion of the applicable Shipment Value theretofore received from Purchaser; and
(ii) be relieved of all delivery and other obligations to Purchaser with respect to such Shipment. The Purchaser shall execute all such documents and take all other steps required or requested by Seller to give effect to any passage of title pursuant to Clause 14.5(c).
(e) If the Purchaser fails to pay amounts which are properly owing in relation to the first instalment of the Shipment Value of any Shipment on three (3) or more occasions in any one calendar year, then the Seller may notify the Purchaser that it re...
Interest and Late Payments. (a) Pre-default Rates. So long as no Defaulting Event has occurred, each Advance shall bear interest (from the date made through and including the date of payment in full) on the outstanding principal amount thereof at a floating rate per annum equal to the Prime Rate plus two percent (2.0%).
Interest and Late Payments. 4.1 Interest on the Notes will accrue at the Interest Rate on a daily basis, be calculated on the basis of the actual number of days elapsed and a 360 day year and is payable, in respect of each Note:
(a) on each Interest Payment Date; and
(b) on each date on which redemption of such Note is due.
4.2 If any amount due to the Noteholder (whether interest or any amount payable following the redemption of Notes) is not paid for any reason within 14 days of the date on which payment is due in accordance with this Instrument, the overdue amount shall bear interest (in addition to the Interest Rate) at the rate of two per cent. (2%) per annum, accruing and compounding on a daily basis and such additional interest will be paid in accordance with Clause 4.1.
