Interest Rate; Payment; Usury Sample Clauses

Interest Rate; Payment; Usury. (a) Provided that no Event of Default has occurred and is continuing and subject to the other provisions of this Agreement, the Loan Amount shall bear interest at a rate per annum equal to three percent (3%) plus the rate from time to time published in the Wall Street Journal as the prime rate, whether or not such announced rate is the best rate available at any bank or other financial institution (the "Interest Rate"). During any period that an Event of Default shall have occurred and be continuing, interest on the Loan Amount shall accrue at a rate equal to the Interest Rate plus two percent (2%) (the "Default Interest Rate"). Notwithstanding anything contained herein to the contrary, in no event shall the interest rate on the Loans, including the Default Interest Rate, exceed the highest rate permitted by applicable law. Interest on the Loans, including interest at the Default Interest Rate, shall be based on a 360-day year, and interest shall accrue and be payable for the actual number of calendar days elapsed. Interest shall be payable in arrears commencing on the 31st day of March, 2004 and continuing thereafter on the last day of each subsequent month until the Loan Amount and all accrued interest have been paid in full. (b) It is the intention of the Borrowers and the Lenders to conform strictly to applicable usury laws now or hereafter in force, and any interest payable under this Agreement or the Notes shall be subject to reduction to an amount not to exceed the maximum non-usurious amount for commercial loans allowed under such applicable usury laws as now or hereafter construed by the courts having jurisdiction over such matters. In the event such interest (whether designated as interest, service charges, points, origination fees, or otherwise) does exceed the maximum legal rate, it shall be (i) canceled automatically to the extent that such interest exceeds the maximum legal rate; (ii) if already paid, at the option of each Holder, either be rebated to the Borrowers or credited on the principal amount of the Loans evidenced by the Note held by such Holder; or (iii) if the Loans have been prepaid in full, then such excess shall be rebated to the Borrowers. It is further agreed, without limitation of the foregoing, that all calculations of the rate of interest contracted for, charged, or received under this Agreement and the Notes that are made for the purpose of determining whether such rate exceeds the maximum legal rate, shall be made, to the...
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Interest Rate; Payment; Usury. (a) Provided that no Event of Default has occurred and is continuing and subject to the other provisions of this Agreement (i) during the period from and including the Closing Date to, but not including, the third month anniversary of the Closing Date, the Loan shall bear interest at the rate of ten percent (10%) per annum; (ii) from and including the third month anniversary of the Closing Date through the sixth month anniversary of the Closing Date, the Loan shall bear interest at the rate of eleven percent (11%) per annum; and (iii) during each monthly period (or portion thereof) from and after the sixth month anniversary of the Closing Date until the principal and all accrued
Sample 1
Interest Rate; Payment; Usury. (a) Provided that no Event of Default has occurred and is continuing beyond any applicable cure period and subject to the other provisions of this Agreement, during the period from and after each Advance Date until the principal and all interest on the Loan made on such Advance Date is paid in full, each Loan shall bear and accrue interest at the rate of 12% per annum. The outstanding principal amount of each Loan plus all accrued and unpaid interest thereon shall be due and payable by the Company to the Agent on the Maturity Date, by wire transfer of immediately available funds to an account specified by the Agent. (b) During any period that an Event of Default shall have occurred and be continuing beyond any applicable cure period, interest on each Loan shall accrue at a rate equal to 14% per annum (the "Default Interest Rate"). Notwithstanding anything contained herein to the contrary, in no event shall the interest rate on any Loan, including the Default Interest Rate, exceed the highest rate permitted by applicable law. Interest on each Loan, including interest at the Default Interest Rate, shall be based on a 360 day year and interest shall accrue and be payable for the actual number of calendar days elapsed. (c) It is the intention of the Company and the Lenders to conform strictly to applicable usury laws now or hereafter in force, and any interest payable under this Agreement or any Note shall be subject to reduction to an amount not to exceed the maximum non-usurious amount for commercial loans allowed under such applicable usury laws as now or hereafter construed by the courts having jurisdiction over such matters. In the event such interest (whether designated as
Sample 1
Interest Rate; Payment; Usury. (a) Provided that no Event of Default has occurred and is continuing and subject to the other provisions of this Agreement, the Loan shall not bear interest. During any period that an Event of Default shall have occurred and be continuing, interest on the Loan shall accrue at a rate equal to the rate published in the Wall Street Journal from time to time as the prime rate (the "Default Interest Rate"). Notwithstanding anything contained herein to the contrary, in no event shall the interest rate on the Loan, including the Default Interest Rate, exceed the highest rate permitted by applicable law. Interest on the Loan at the Default Interest Rate, shall be based on a 360-day year, and shall accrue and be payable for the actual number of calendar days elapsed. Interest shall be payable in arrears commencing on the first day after the Maturity Date (as hereinafter defined) and continuing thereafter on the same day of each subsequent month until the Loan and all accrued interest have been paid in full. (b) It is the intention of the Company and the Lender to conform strictly to applicable usury laws now or hereafter in force, and any interest payable under this Agreement or the Note shall be subject to reduction to an amount not to exceed the maximum non-usurious amount for commercial loans allowed under such applicable usury laws as now or hereafter construed by the courts having jurisdiction over such matters.
Sample 1
Interest Rate; Payment; Usury. Section 3.1 (a) of the Loan Agreement is hereby deleted in its entirety and the following paragraph substituted in lieu thereof: (a) Provided that no Event of Default has occurred and is continuing and subject to the other provisions of this Agreement, commencing March 1, 2002 the Loans shall bear interest at the rate of nine percent (9%) per annum. During any period that an Event of Default shall have occurred and be continuing, interest on the Loans shall accrue at a rate equal to the otherwise applicable interest rate plus five hundred basis points (the "Default Interest Rate"). Notwithstanding anything contained herein to the contrary, in no event shall the interest rate on the Loans, including the Default Interest Rate, exceed the highest rate permitted by applicable law. Interest on the Loans, including interest at the Default Interest Rate, shall be based on a 360 day year, and interest shall accrue and be payable for the actual number of calendar days elapsed. Interest shall be payable in arrears commencing on May 5, 2002 and on the fifth day of each subsequent month until the principal and all accrued interest have been paid in full.
Sample 1

Related to Interest Rate; Payment; Usury

  • Interest Rate Payments Subject to Holder's right to charge the Default Rate (as hereinafter defined) pursuant to Section 4 hereof, this Note shall bear interest, and Maker shall make payments as follows: (a) Interest shall accrue on the unpaid principal balance of this Note at the Interest Rate (as defined in Exhibit A). For purposes of computing interest on the debt evidenced hereby, interest shall be calculated on the basis of a twelve (12) month calendar year applied to the actual number of months funds are outstanding. Payments (or prepayments) made on account hereof shall be applied first to the payment of late charges or other fees and costs owed to Holder (if any), next to the payment of accrued and unpaid interest, and then to principal, or, during the continuance of an Event of Default (as hereinafter defined), in such other order or proportion as Holder, in its sole discretion, may elect from time to time. (b) Interest and principal over the term of the Note shall be due and payable monthly in accordance with the Payment Schedule set forth in Exhibit F. Maker may at any time or from time to time make a voluntary prepayment, whether in whole or in part, of this Note, without premium or penalty. (c) The entire outstanding Obligations (as hereinafter defined) shall be due and payable in full on the Maturity Date (as defined in Exhibit A) or such earlier date resulting from acceleration by Holder of the Obligations due hereunder following an Event of Default (the “Maturity Date”).

  • Late Payment Interest If the Customer fails to make payment by the agreed time, the Contractor shall be entitled to claim interest on any overdue amount, pursuant to the Act No. 100 of 17 December 1976 relating to Interest on Overdue Payments, etc. (Late Payment Interest Act).

  • 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.

  • 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.).

  • Fixed Rate Payer The Trust.

  • Additional Fee on Late Payments For any payments thirty (30) calendar days or more overdue under this Agreement, Registry Operator shall pay an additional fee on late payments at the rate of 1.5% per month or, if less, the maximum rate permitted by applicable law.

  • Late Payment Fees If you have not paid a bill by the pay-by date, we may require you to pay a late payment fee, which is part of our standing offer prices published on our website.

  • Late Payment Fee Students will be assessed a late payment fee if acceptable payment arrangements are not made by the due date indicated on the statement. Acceptable payment arrangements include payment in full, pending financial aid, approved third-party billing (i.e. veterans) and an active and current payment plan with the Bursar’s Office.

  • Determination of Interest Rate Basis The Calculation Agent shall determine the rate derived from each Interest Rate Basis in accordance with the following provisions.

  • Maximum Interest Rate In no event shall any interest rate provided for hereunder exceed the maximum rate legally chargeable under applicable law with respect to loans of the Type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited by the Maximum Rate. In the event that, upon payment in full of the Obligations, the total amount of interest paid or accrued under the terms of this Agreement is less than the total amount of interest which would, but for this Section 3.3, have been paid or accrued if the interest rate otherwise set forth in this Agreement had at all times been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Agent, for the account of the applicable Lenders, an amount equal to the excess of (a) the lesser of (i) the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or (ii) the amount of interest which would have accrued had the interest rate otherwise set forth in this Agreement, at all times, been in effect over (b) the amount of interest actually paid or accrued under this Agreement. If a court of competent jurisdiction determines that the Agent and/or any Lender has received interest and other charges hereunder in excess of the Maximum Rate, such excess shall be deemed received on account of, and shall automatically be applied to reduce, the Obligations other than interest, and if there are no Obligations outstanding, the Agent and/or such Lender shall refund to the Borrower such excess.