Interest on Overdue Obligations. If any sum due hereunder is not paid within thirty (30) days following the due date thereof, the Party owing such obligation to the other Party shall pay to the other Party interest thereon at the Default Rate concurrently with the payment of the amount, such interest to begin to accrue as of the date such amount was due and to continue to accrue through and until the date paid. Any payment of such interest at the Default Rate pursuant to this Agreement shall not excuse or cure any default hereunder. All payments shall first be applied to the payment of accrued but unpaid interest. The amount of any judgment or arbitration award obtained by one Party against the other Party in any Action or Proceeding arising out of a default by such other Party under this Agreement shall bear interest thereafter at the Default Rate until paid.
Interest on Overdue Obligations. Except as otherwise provided herein, all amounts due hereunder, whether as damages, credits, revenue or reimbursements, that are not paid when due shall bear interest at the Overdue Rate on the amount outstanding from time to time, on the basis of a 365-day year, counting the actual number of days elapsed, and all such interest accrued at any time shall, to the extent permitted by Applicable Law, be deemed added to the amount due, as accrued.
Interest on Overdue Obligations. All amounts due hereunder, whether as damages, credits, revenue or reimbursements, that are not paid when due shall bear interest at the Default Interest Rate on the amount outstanding from time to time, on the basis of a 365-day year, counting the actual number of days elapsed, and all such interest accrued at any time shall, to the extent permitted by applicable law, be deemed added to the amount due, as accrued. The Parties agree that the Default Interest Rate will apply to payments under this Agreement as specified herein in lieu of any different rate that would otherwise apply generally to late payments by the District.
Interest on Overdue Obligations. In the event Club fails to pay the City any amount owed by Club pursuant to the terms of this Agreement on or before the date which is thirty (30) days after the City delivers notice to Club of such failure, then such amount shall bear interest at the Default Rate from the date due until paid. No breach of Club’s obligation to pay the City any amount owed by Club pursuant to the terms of this Agreement shall have been cured unless and until the interest accrued thereon under this Section 13.2 shall have been paid. All payments shall first be applied to the payment of accrued but unpaid interest.
Interest on Overdue Obligations. If any sum due hereunder is not paid
Interest on Overdue Obligations. Except as otherwise provided herein, all amounts due hereunder, whether as damages, credits, revenue or reimbursements, that are not paid when due shall bear interest at the Base Interest Rate on the amount outstanding from time to time, on the basis of a 365-day year, counting the actual number of days elapsed, and all such interest accrued at any time shall, to the extent permitted by law, be deemed added to the amount due, as accrued. The parties agree that the Base Interest Rate will apply to payments under this Agreement as specified herein in lieu of any different rate that would otherwise apply generally to late payments by the Authority.
Interest on Overdue Obligations. Unless contested in good faith pursuant to the provisions of Section 13.3 herein, if any sum due hereunder is not paid within thirty (30) days following the due date thereof, the Party owing such obligation to the other Party shall pay to the other Party interest thereon at the Default Rate concurrently with the payment of the amount, such interest to begin to accrue as of the date such amount was due and to continue to accrue through and until the date paid. Any payment of such interest at the Default Rate pursuant to this Agreement shall not excuse or cure any default hereunder. All payments shall first be applied to the payment of accrued but unpaid interest. The amount of any judgment or arbitration award obtained by one Party against the other Party in any Action or Proceeding arising out of a default by such other Party under this Agreement shall bear interest thereafter at the Default Rate until paid.
Interest on Overdue Obligations. All past due Rent shall bear interest at the Default Rate from the date(s) due (whether or not Landlord has given Notice to Tenant that such Rent is past due) until paid. No breach of Tenant’s obligation to pay Rent shall have been cured unless and until the interest accrued thereon under this Section 26.5 shall have been paid to Landlord. In the event that Landlord fails to pay Tenant any amount owed by Landlord pursuant to the terms of this Lease on or before the date due (or if no date is otherwise specified, the date which is thirty (30) calendar days after Tenant delivers Notice to Landlord of such failure), then such amount shall bear interest at the Default Rate from the date due until paid. No breach of Landlord’s obligation to pay Tenant any amount owed by Landlord pursuant to the terms of this Lease shall have been cured unless and until the interest accrued thereon under this Section 26.5 shall have been paid to Tenant. All payments shall first be applied to the payment of accrued but unpaid interest.
Interest on Overdue Obligations. Except as expressly herein provided, any amount due to DISTRICT not paid within ten (10) days of when due shall bear a late fee at the lesser of (a) five percent (5%) per annum, or (b) the maximum rate then allowable by law from the date due. Payment of such interest shall not excuse or cure any default by TENANT under this Lease. Interest shall not be payable on late charges incurred by TENANT hereunder.
Interest on Overdue Obligations. With respect to the Design-Build Period, all amounts due hereunder that are not paid when due shall bear interest at the rate of interest which is the Overdue Rate. With respect to the Operation Period, all amounts due hereunder, whether as damages, credits, revenue, charges or reimbursements, that are not paid when due shall bear interest at the rate of interest which is the Overdue Rate, on the amount outstanding from time to time, on the basis of a 365-day year, counting the actual number of days elapsed, and such interest accrued at any time shall, to the extent permitted by Applicable Law, be deemed added to the amount due as accrued.
