Common use of Interest; Penalties Clause in Contracts

Interest; Penalties. In the event the Company or any Sponsor Affiliate(s) should fail to make any of the payments to the County required under this Agreement, then the item or installment so in default shall continue as an obligation of the Company or such Sponsor Affiliate(s) until the Company or such Sponsor Affiliate(s) shall have fully paid the amount, and the Company and any Sponsor Affiliate(s) agree, as applicable, to pay the same with interest thereon at a rate, unless expressly provided otherwise herein and in the case of FILOT payments, of five percent (5%) per annum, compounded monthly, to accrue from the date on which the payment was due and, in the case of FILOT payments, at the rate for non-payment of ad valorem taxes under State law and subject to the penalties the law provides until payment.

Interest; Penalties. ‌ In the event the Company Companies or any Sponsor Affiliate(s) Affiliate should fail to make any of the payments to the County required under this Fee Agreement, then the item or installment so in default shall continue as an obligation of the Company Companies or such Sponsor Affiliate(s) Affiliate until the Company Companies or such Sponsor Affiliate(s) Affiliate shall have fully paid the amount, and the Company Companies and any Sponsor Affiliate(s) Affiliates agree, as applicable, to pay the same with interest thereon at a rate, unless expressly provided otherwise herein and in the case of FILOT payments, of five percent (5%) % per annum, compounded monthly, to accrue from the date on which the payment was due and, in the case of FILOT payments, at the rate for non-payment of ad valorem taxes under State law and subject to the penalties the law provides until payment.

Interest; Penalties. ‌ In the event the Company or any Sponsor Affiliate(s) Affiliate should fail to make any of the payments to the County required under this Fee Agreement, then the item or installment so in default shall continue as an obligation of the Company or such Sponsor Affiliate(s) Affiliate until the Company or such Sponsor Affiliate(s) Affiliate shall have fully paid the amount, and the Company and any Sponsor Affiliate(s) Affiliates agree, as applicable, to pay the same with interest thereon at a rate, unless expressly provided otherwise herein and in the case of FILOT paymentsPayments, of five percent (5%) % per annum, compounded monthlyor the maximum rate allowed by law, whichever is less, to accrue from the date on which the payment was due and, in the case of FILOT paymentsPayments, at the rate for non-payment of ad valorem taxes under State law and subject to the penalties the law provides until payment.