Interest and Penalty. (a) The BORROWER shall pay interest on the LOAN outstanding from time to time on each INTEREST PAYMENT DATE for the INTEREST PERIOD then ending at the rate equal to the REFERENCE RATE plus the SPREAD. If any INTEREST PAYMENT DATE would fall on any day which is not a BUSINESS DAY, the interest shall be payable on the next succeeding BUSINESS DAY and the interest shall be adjusted accordingly.
(b) If the BORROWER fails to make payment when due of any sum hereunder (whether at the stated maturity, by acceleration or otherwise), the BORROWER shall pay penalty on such past due and unpaid amount/s at the rate of eighteen percent (18%) per annum, in addition to the interest rate provided in Sec. 2.07 (a) above, from due date until the date of payment in full (both before as well as after judgment). The penalty under this Section 2.07 (b) shall be payable from time to time and upon demand by the BANK.
(c) All payments for interest(s), and penalties pursuant to Sections 2.06, and 2.07 shall be computed on the basis of a three hundred sixty (360)-day year and on the actual number of days elapsed.
Interest and Penalty. Without prejudice to the exercise of the LESSOR of its rights under the penal provisions herein, the LESSEE shall pay to the LESSOR interest or any amount herein provided to be paid by the LESSEE that is not paid on time, at an interest rate equivalent to Two Percent (2%) per month to be computed from the date of delinquency until the amount due is paid in full.
3.1 A payment made by the LESSEE to the LESSOR shall first apply to the preceding interest charges, if any, and thence to all arrearages in the amounts herein provided to be paid by the LESSEE before it is applied to the current rental.
3.2 In the fulfillment of obligations involving the payment of money, and without prejudice to the imposition of interest charges mentioned above, the LESSEE is hereby given a grace period of sixty (60) days from the due date within which to make good the breach or default, after which period the LESSOR may exercise its absolute right to rescind and cancel this Contract of Lease for breach or non-performance of essential conditions.
3.3 In case of cancellation or termination of this Contract or breach of its terms, the offending party shall, in addition to any liability under Par. 10 of this Contract, pay all commercially reasonable attorney's Contract of Lease Page six (6) fees, costs, expenses of litigation and other incidental damages that may be incurred by the aggrieved party in enforcing its rights under this Contract.
Interest and Penalty for Advance Payment) In the event that the Bank makes advance payment and related deferred charge, interest, penalty, delayed interest and other expenses for the Contractor, the Contractor shall repay to the Bank all advance payment of the Bank immediately. The interest shall be calculated based on the Bank’s Base Rate plus 4% from the Bank payment date till the Contractor makes full payment. In the event the interest rate is adjusted after the Bank makes advance payment, the Contractor agrees to adopt the new Base Rate after the adjustment by adding 4% as the interest rate and it shall be calculated from the day the Bank made such payment.
Interest and Penalty for Advance Payment) For those instruments that the Contractor asks the Bank to accept or guaranty, the Contractor shall provide sufficient funds in the Bank before the maturity date. In the event of any delay or the Bank shall make advance payment to the Contractor, no matter under what circumstance, the Contractor upon receipt of the notice by the Bank, shall immediately repay such amount and bear the interests which will be calculated based on the Bank’s Base Rate plus 4% from the Bank payment date till the Contractor’s full repayment. In the event the interest rate is adjusted after the Bank’s advance payment is made, the Contractor agrees to adopt the new Base Rate after the adjustment by adding 4% as the interest rate from the date of the adjustment. In addition to interests, the Contractor shall pay penalty according the Bank’s rules.
Interest and Penalty. An interest charge and penalty will be assessed on overdue amounts for each quarter, or portion thereof, that payment is delayed beyond the 30 day period provided for above. The percent of interest charged will be equal to the current value of funds rate to the U.S. Treasury as published annually in the Federal Register by the U.S. Treasury. In addition, an administrative charge of $53.00 and a penalty charge of 6 percent (6%) per annum will be assessed after any payment is 90 days delinquent. If Contractor fails to submit quarterly financial reports within 30 days of quarter end, an estimate of revenue due to the U.S. Government will be developed and a xxxx for collection will be sent to the Contractor. Unless full payment is received within 90 days from the due date specified in the Contract, the Concession Contractor will be in breach of the Contract and the Contract may be terminated after the 15-day period to cure the breach.
Interest and Penalty. Any sums payable to Port by Airline under any provisions of this Agreement which are not paid (i) on or before the tenth (10th) day of the month for fixed amounts (e.g., rental for Assigned Space), (ii) within thirty (30) calendar days for variable billed amounts (e.g., utilities), or (iii) within the time frames specified elsewhere in this Agreement, after such sum becomes due and payable shall be subject to a delinquency charge, for violation of this Agreement and as liquidated damages, of $50.00 plus a sum equal to 0.05% (five one-hundredths of one percent) per day of such delinquent payment, but not to exceed the maximum interest rate permitted by applicable law, for each day from the date such payment became due and payable until payment has been received by Port. Unpaid delinquency charges that accrue may be compounded monthly at the Port’s sole election. The delinquency charges provided by this Paragraph D are in addition to all other remedies that Port may have that are provided by this Agreement or otherwise by law or in equity with respect to any payment that has become due and has not been paid.
Interest and Penalty. Interest was properly assessed upon the tax deficiency for the use of the State’s tax dollars. See Ark. Code Xxx. § 00-00-000 (Supp. 2019). The Taxpayer failed to timely register the vehicle and pay the applicable sales tax liability; therefore, the Department correctly assessed a ten percent (10%) penalty pursuant to Ark. Code Xxx. § 26-52-510(a)(4) (Supp. 2019).
Interest and Penalty. Any sums payable to Port by Airline under any provisions of this Agreement which are not paid when due shall bear interest and penalty at the applicable rate provided by duly enacted Port Ordinance.
Interest and Penalty. An interest charge will be assessed on overdue payments. The percent of interest charged will be equal to the current value of funds rate to the United States Treasury as published annually in the Federal Register by the United States Treasury. In addition, an administrative charge of $53.00 and a penalty charge of 6 percent per annum will be assessed after any payment delayed 90 days beyond the end date of each quarter.
Interest and Penalty. Without prejudice to the exercise by LESSOR of its rights under the penal provisions herein, LESSEE shall pay to LESSOR interest on any amount due under this Contract which remains unpaid on due date thereof at the rate of TWO PERCENT (2%) per month, or at the maximum prevailing interest rate allowed by law as determined by LESSOR at the time the obligation is due, whichever is higher, to be computed from the date of delinquency until such amount is paid in full. The interest and penalty rates shall be subject to review and adjustment by LESSOR yearly on 31 January at a rate to be mutually agreed by the parties. WNS Global Services Philippines, Inc._Techno Plaza II_5th and 6th Floors The preceding interest and penalty charges shall apply to any and all arrearages in the amounts payable by LESSEE, including but not limited to rentals, LESSEE’s share in Common Area Charges, and reimbursement of appropriate real property taxes as may be applicable. In case of cancellation or termination of this Contract due to default or breach of its terms by LESSEE, LESSEE shall pay all attorney’s fees, costs and expenses of litigation that may be ordered by the courts.
