Interest on Overdue Payments; Default Interest Rate Sample Clauses

Interest on Overdue Payments; Default Interest Rate. Upon the occurrence and during the continuance of any Event of Default, or if the Agent exercises its rights hereunder to accelerate any of the Notes pursuant to Section 9.2(b), the outstanding principal and all accrued and unpaid interest, as well as any other Obligations due Lenders or Agent hereunder or under any Loan Document, shall bear interest at the Default Interest Rate, from the date on which such amount shall have first become due and payable to Lenders or Agent or the date on which such Event of Default shall have occurred, to the date on which such amount shall be paid to Lenders or Agent (whether before or after judgment) or such Event of Default shall have been otherwise waived or cured. Interest will continue to accrue until the Obligations in respect of the payment are discharged (whether before or after judgment).
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Interest on Overdue Payments; Default Interest Rate. If any payment of principal or interest is not paid when due, or prior to the expiration of the applicable period of grace (if any) therefor, National City may charge and collect from Borrower, or may add to the unpaid balance of the Notes, a Late Charge. National City may charge interest on the Late Charge at the Default Interest Rate until such time as the required payment of principal and interest (together with the Late Charge) is paid hereunder. No failure by National City to charge or collect any Late Charge in respect of any delinquent payment shall be considered to be a waiver by National City of any rights they may have hereunder, including without limitation the right subsequently to impose a Late Charge for such delinquent payment or to take such other actions as may then be available to them hereunder or at law or in equity, including but not limited to the right to accelerate the Obligations pursuant to the terms of Section 6.2 hereof. If the Notes have been accelerated pursuant to Section 6.2 or if an Event of Default hereunder or under any other Loan Document shall have occurred and be continuing, the outstanding principal balance of the indebtedness advanced under this Agreement, together with all accrued interest thereon and any and all other Obligations, shall bear interest from the date on which such amount shall have first become due and payable to the date on which such amount shall be paid (whether before or after judgment) at the Default Interest Rate. Interest at the Default Interest Rate will continue to accrue and will (to the extent permitted by applicable law) be compounded daily until the Obligations in respect of such payment are discharged (whether before or after judgment).
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Interest on Overdue Payments; Default Interest Rate. If any payment of principal or interest is not paid when due, or prior to the expiration of the applicable period of grace (if any) therefor, Agent may charge and collect from Borrower, or may add to the unpaid balance of the Notes, a
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Interest on Overdue Payments; Default Interest Rate. If the Revolving Credit Notes have been accelerated pursuant to Section 9.2(b) or if a Default or an Event of Default with respect to any monetary payment hereunder shall have occurred and during the period in which the Default or Event of Default is continuing, the outstanding principal and all accrued interest as well as any other Obligations due Lenders or Agent hereunder or under any Loan Document shall bear interest from the date on which such amount shall have first become due and payable to Lenders or Agent to the date on which such amount shall be paid to Lenders or Agent (whether before or after judgment), at the Default Interest Rate. Interest at the Default Interest Rate will continue to accrue
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Interest on Overdue Payments; Default Interest Rate. If any payment of principal or interest is not paid when due, or prior to the expiration of the applicable period of grace (if any) therefor, Agent may charge and collect from Borrowers, or may add to the unpaid balance of the Notes, a
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Interest on Overdue Payments; Default Interest Rate. If the Notes have been accelerated pursuant to Section 9.2(b) or if an Event of Default hereunder shall have occurred and during the period in which the Event of Default is continuing, the outstanding principal and all accrued interest as well as any other Obligations due Lenders or Agent hereunder or under any Loan Document shall bear interest from the date on which such amount shall have first become due and payable to Lenders or Agent to the date on which such amount shall be paid to Lenders or Agent (whether before or after judgment or such Event of Default shall have been otherwise waived in writing by Agent or cured), at the Default Interest Rate. Interest at the Default Interest Rate will continue to accrue and will (to the extent permitted by applicable law) be compounded daily until the Obligations in respect of the payment are discharged (whether before or after judgment or such Event of Default shall have been otherwise waived in writing by Agent or cured).
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Related to Interest on Overdue Payments; Default Interest Rate

  • Payment of default interest on overdue amounts The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

  • Interest on Overdue Payments (a) If the User fails to pay an invoice by the Due Date, the User must, if required by the Service Provider, pay the Service Provider interest on any amount outstanding. (b) Interest will be calculated from the Due Date to the actual date of payment (both inclusive) at an annual percentage rate equal to the aggregate of: (i) the corporate overdraft reference rate (monthly charging cycle) applied by the Commonwealth Bank of Australia (Bank) as at the Due Date (or if the Bank ceases to quote such a rate, then the rate which in the opinion of the Bank is equivalent to such rate in respect of similar overdraft accommodation) expressed as a percentage; plus (ii) 2 per cent per annum.

  • Default Interest Rate From and after the occurrence of any Event of Default, and so long as any such Event of Default remains unremedied or uncured thereafter, the Obligations outstanding under the Agreement shall bear interest at a per annum rate of five percent (5%) above the otherwise applicable interest rate hereunder, which interest shall be payable upon demand. In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar days after the payment due date therefor, but acceptance of payment of any such charge shall not constitute a waiver of any Event of Default under the Agreement. In no event shall the interest payable under this Addendum and the Agreement at any time exceed the maximum rate permitted by law.

  • Interest on Overdue Amounts 22.1 Any Licence Fee which is payable and remains unpaid for a period in excess of 30 (thirty) days from the date of the invoice, will attract interest at the current legal rate, calculated in accordance with the interest rate prescribed by the Minister of Justice in accordance with the Prescribed Rate of Interest Act 55 of 1975, as amended. 22.2 Such interest will be calculated monthly in advance and is payable by the Licensee to SAMRO on demand.

  • Interest on Late Payments a. State Agencies The payment of interest on certain payments due and owed by Agency may be made in accordance with Article 11-A of the State Finance Law (SFL §179-d et. Seq.) and Title 2 of the New York Code of Rules and Regulations, Part 18 (Implementation of Prompt Payment Legislation -2 NYCRR §18.1 et seq.).

  • Interest on late payment Subject to clause 9.7, the Trader or the Distributor (as the case may be) must pay any Tax Invoice issued under this clause 9. If any part of a Tax Invoice that is properly due in accordance with this Agreement is not paid by the due date, Default Interest may be charged on the outstanding amount for the period that the Tax Invoice remains unpaid.

  • Default Interest Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

  • Default Interest; Other Amounts Prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party that defaults in the performance of any payment obligation will, to the extent permitted by law and subject to Section 6(c), be required to pay interest (before as well as after judgment) on the overdue amount to the other party on demand in the same currency as such overdue amount, for the period from (and including) the original due date for payment to (but excluding) the date of actual payment, at the Default Rate. Such interest will be calculated on the basis of daily compounding and the actual number of days elapsed. If, prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party defaults in the performance of any obligation required to be settled by delivery, it will compensate the other party on demand if and to the extent provided for in the relevant Confirmation or elsewhere in this Agreement.

  • INTEREST ON PAST-DUE OBLIGATIONS Except as expressly herein provided, any amount due to Lessor not paid when due shall bear interest at the maximum rate then allowable by law from the date due. Payment of such interest shall not excuse or cure any default by Lessee under this Lease, provided, however, that interest shall not be payable on late charges incurred by Lessee nor on any amounts upon which late charges are paid by Lessee.

  • Compounding of default interest Any such interest which is not paid at the end of the period by reference to which it was determined shall thereupon be compounded.

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