Common use of Late Payment Interest Clause in Contracts

Late Payment Interest. If Lessee fails to pay any amount payable under the Lease on the due date, Lessee will pay on demand from time to time to Lessor interest (both before and after judgement) on that amount, from the due date to the date of payment in full by Lessee to Lessor, at the Interest Rate. All such interest will be compounded monthly and calculated on the basis of the actual number of days elapsed in the month, assuming a 30 day month and a 360 day year.

Appears in 4 contracts

Samples: Aircraft Lease Agreement (Turn Works Acquisition Iii Sub a Inc), Aircraft Lease Agreement (Turn Works Acquisition Iii Sub a Inc), Aircraft Lease Agreement (Turn Works Acquisition Iii Sub a Inc)

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Late Payment Interest. If Lessee fails to pay any amount payable under the Lease on the due date, Lessee will pay on demand from time to time to Lessor interest (both before and after judgementjudgment) on that amount, from the due date to the date of payment in full by Lessee to Lessor, at the Interest Rate. All such interest will be compounded monthly and calculated on the basis of the actual number of days elapsed in the month, assuming a 30 thirty (30) day month and a 360 three hundred and sixty (360) day year.

Appears in 2 contracts

Samples: Aircraft Lease (Kitty Hawk Inc), Aircraft Lease (Kitty Hawk Inc)

Late Payment Interest. If Lessee fails to pay any amount payable by Lessee to Lessor under the Lease on the due date, Lessee will pay on demand from time to time to Lessor interest (both before and after judgementjudgment) on that amount, from the due date to the date of payment in full by Lessee to Lessor, at the Interest Rate. All such interest will be compounded monthly and calculated on the basis of the actual number of days elapsed in the month, assuming a 30 day month and a 360 day year.

Appears in 2 contracts

Samples: Aircraft Lease (Airtran Airways Inc), Engine Lease (Airtran Airways Inc)

Late Payment Interest. If Lessee fails to pay any amount payable under the Lease this Agreement on the due date, Lessee will pay on demand from time to time to Lessor interest (both before and after judgementjudgment) on that amount, from the due date to the date of payment in full by Lessee to Lessor, at the Interest Rate; provided, however, that in no event shall such rate exceed the maximum permitted by Law. All such interest will be compounded monthly and calculated on the basis of the actual number of days elapsed in the month, month assuming a 30 day month and a 360 day year.

Appears in 2 contracts

Samples: Aircraft Lease Agreement (Vanguard Airlines Inc \De\), Aircraft Lease Agreement (Vanguard Airlines Inc \De\)

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Late Payment Interest. If Lessee fails to pay any amount payable under this Agreement within 2 days after the Lease on the due datedate due, Lessee will pay on demand from time to time to Lessor interest (both before and after judgementjudgment) on that amount, from the due date to the date of payment in full by Lessee to Lessor, at the Interest Rate. All such interest will be compounded monthly and calculated on the basis of the actual number of days elapsed in the month, assuming a 30 day month and a 360 365 day year.

Appears in 2 contracts

Samples: Aircraft Lease Agreement (Vanguard Airlines Inc \De\), Aircraft Lease Agreement (Vanguard Airlines Inc \De\)

Late Payment Interest. If Lessee fails to pay any amount due and payable under the Lease on the due date, Lessee will pay on demand from time to time to Lessor interest (both before and after judgement) on that amount, from the due date to the date of payment in full by Lessee to Lessor, at the Interest Rate. All such interest will be compounded monthly and calculated on the basis of the actual number of days elapsed in the month, assuming a 30 day month and a 360 day year.

Appears in 1 contract

Samples: Engine Lease Common Terms Agreement (Controladora Vuela Compania De Aviacion, S.A.B. De C.V.)

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