Common use of Interest on Unpaid Amounts Clause in Contracts

Interest on Unpaid Amounts. In the event that any party fails to pay any amount owed pursuant to this Agreement within ten (10) days after the date when due, interest shall accrue on any unpaid amount at the "designated rate" from the due date until such amounts are fully paid. For purposes of this Agreement, the "

Appears in 4 contracts

Samples: Tax Sharing Agreement (M & F Worldwide Corp), Tax Sharing Agreement (Panavision Inc), Tax Sharing Agreement (M & F Worldwide Corp)

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Interest on Unpaid Amounts. In the event that any party fails to pay any amount owed pursuant to this Agreement within ten (10) days after the date when due, interest shall accrue on any unpaid amount at the "designated rate" from the due date until such amounts are fully paid. For purposes of this Agreement, the "designated rate" shall mean ten percent (10%).

Appears in 3 contracts

Samples: Tax Sharing Agreement (Harland Clarke Holdings Corp), Tax Sharing Agreement (Revlon Consumer Products Corp), Tax Sharing Agreement (Panavision Inc)

Interest on Unpaid Amounts. In the event that any party -------------------------- fails to pay any amount owed pursuant to this Agreement within ten (10) days after the date when due, interest shall accrue on any unpaid amount at the "designated rate" rate applicable to underpayments of the tax as provided for in the Code from the due date until such amounts are fully paid. For purposes paid (regardless of this Agreementthe existence of any dispute with respect to the amount of, the "or liability for, such payment).

Appears in 1 contract

Samples: Tax Sharing Agreement (Primex Technologies Inc)

Interest on Unpaid Amounts. In the event that any party fails to pay any amount owed pursuant to this Agreement within ten (10) days after the date when due, interest shall accrue on any unpaid amount at the "designated rate" from the due date until such amounts are fully paid. For purposes of this Agreement, the "“designated rate” shall mean a rate equal to such percentage as is provided with respect to tax deficiencies or refunds charged or credited by the Internal Revenue Service or state or local taxing authority, as the case may be.

Appears in 1 contract

Samples: Tax Sharing Agreement (Duane Reade Inc)

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Interest on Unpaid Amounts. In the event that any party fails to pay any amount owed pursuant to this Agreement within ten (10) days after the date when due, interest shall accrue on any unpaid amount at the "designated rate" from the due date until such amounts are fully paid. , For purposes of this Agreement, the "

Appears in 1 contract

Samples: Tax Sharing Agreement (Panavision Inc)

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