Common use of Late Payments Clause in Contracts

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 37 contracts

Samples: Tax Matters Agreement, Tax Matters Agreement, Tax Matters Agreement

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Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 14 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 14 or the interest rate provided under such other provision.

Appears in 14 contracts

Samples: Tax Matters Agreement, Tax Matters Agreement, Tax Matters Agreement (Netgear, Inc)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 16 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 16 or the interest rate provided under such other provision.

Appears in 11 contracts

Samples: Tax Indemnification and Allocation Agreement (Republic Services Inc), Tax Sharing Agreement (Tenneco Automotive Inc), Distribution Agreement (Tenneco Packaging Inc)

Late Payments. Any amount owed by one party Party to another party Party under this Agreement which that is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 7 contracts

Samples: Tax Matters Agreement (Raytheon Technologies Corp), Tax Matters Agreement (Carrier Global Corp), Tax Matters Agreement (Otis Worldwide Corp)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percentpercent (2%), compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 14 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 14 or the interest rate provided under such other provision.

Appears in 5 contracts

Samples: Tax Matters Agreement, Tax Matters Agreement (Adient PLC), Tax Matters Agreement (Adient LTD)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percentpercentage points, compounded semiannually, from the due date Due Date of the payment to the date paid. To the extent interest required to be paid under this Section 15 17 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 17 or the interest rate provided under such other provision.

Appears in 5 contracts

Samples: Tax Matters Agreement (Mdu Resources Group Inc), Tax Matters Agreement (Everus Construction Group, Inc.), Tax Matters Agreement (Mdu Resources Group Inc)

Late Payments. Any amount owed by one party Party to another party Party under this Agreement which that is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, percent from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 5 contracts

Samples: Tax Matters Agreement (Encompass Health Corp), Tax Matters Agreement (Enhabit, Inc.), Tax Matters Agreement (Enhabit, Inc.)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Applicable Interest Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 12.13 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 12.13 or the interest rate provided under such other provision.

Appears in 4 contracts

Samples: Tax Matters Agreement, Tax Matters Agreement (PENTAIR PLC), Tax Matters Agreement (nVent Electric PLC)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percentpercentage points, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 14 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 14 or the interest rate provided under such other provision.

Appears in 4 contracts

Samples: Tax Matters Agreement, Tax Matters Agreement (Servicemaster Global Holdings Inc), Tax Matters Agreement (Frontdoor, Inc.)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 9 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 9 or the interest rate provided under such other provision.

Appears in 4 contracts

Samples: Tax Indemnification and Allocation Agreement (DSP Group Inc /De/), Tax Indemnification and Allocation Agreement (Ceva Inc), Tax Indemnification and Allocation Agreement (Ceva Inc)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percentpercent (2%), compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 Article 16 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 Article 16 or the interest rate provided under such other provision.

Appears in 4 contracts

Samples: Tax Matters Agreement (Equitrans Midstream Corp), Tax Matters Agreement (EQT Corp), Tax Matters Agreement (Equitrans Midstream Corp)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 17 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 17 or the interest rate provided under such other provision.

Appears in 4 contracts

Samples: Tax Matters Agreement (Vestis Corp), Tax Matters Agreement (Aramark), Tax Matters Agreement (Vestis Corp)

Late Payments. Any amount owed by one party Party to another party Party under this Agreement which that is not paid when due shall bear interest at the Prime Rate plus two percentpercent (2%), compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 4 contracts

Samples: Tax Matters Agreement (RXO, Inc.), Tax Matters Agreement (Rxo, LLC), Tax Matters Agreement (Rxo, LLC)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 16 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.20

Appears in 4 contracts

Samples: Tax Sharing Agreement (Tenneco Inc /De), Tax Sharing Agreement (Newport News Shipbuilding Inc), Tax Sharing Agreement (Newport News Shipbuilding Inc)

Late Payments. Any amount owed by one party Party to another party Party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 Article 14 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 Article 14 or the interest rate provided under such other provision.

Appears in 4 contracts

Samples: Tax Matters Agreement (CBS Corp), Tax Matters Agreement (CBS Corp), Tax Matters Agreement (Entercom Communications Corp)

Late Payments. Any amount owed by one party Party to another party Party under this Agreement which that is not paid when due shall will bear interest at the Prime Rate plus two percent2%, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 4 contracts

Samples: Tax Matters Agreement (Cable One, Inc.), Tax Matters Agreement (Graham Holdings Co), Tax Matters Agreement (Cable One, Inc.)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two five percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 5.07 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 5.07 or the interest rate provided under such other provision.

Appears in 3 contracts

Samples: Tax Sharing Agreement, Tax Sharing Agreement (Phillips 66), Tax Sharing Agreement (Phillips 66)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percentRate, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 3 contracts

Samples: Tax Sharing Agreement (Dover Downs Gaming & Entertainment Inc), Tax Sharing Agreement (Dover Downs Gaming & Entertainment Inc), Tax Sharing Agreement (Dover Downs Entertainment Inc)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percentpercent (2%), compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section Article 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section Article 15 or the interest rate provided under such other provision.

Appears in 3 contracts

Samples: Tax Matters Agreement (Arconic Inc.), Tax Matters Agreement (Alcoa Upstream Corp), Tax Matters Agreement

Late Payments. Any amount owed by one party to another party ------------- under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 3 contracts

Samples: Tax Sharing Agreement (Varian Associates Inc /De/), Tax Sharing Agreement (Varian Semiconductor Equipment Associates Inc), Tax Sharing Agreement (Varian Inc)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two three percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 16 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 3 contracts

Samples: Tax Sharing Agreement (Valero Energy Corp), Tax Sharing Agreement (Valero Refining & Marketing Co), Tax Sharing Agreement (Pg&e Corp)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percentApplicable Interest Rate, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 12.12 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 12.12 or the interest rate provided under such other provision.

Appears in 3 contracts

Samples: Tax Matters Agreement (Manitowoc Foodservice, Inc.), Tax Matters Agreement (Manitowoc Co Inc), Tax Matters Agreement (Manitowoc Foodservice, Inc.)

Late Payments. Any Except as otherwise provided in this Agreement, any amount owed by one party Party to another party Party under this Agreement which that is not paid when due shall bear interest from the due date until paid at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 2 contracts

Samples: Tax Matters Agreement (Maxeon Solar Technologies, Ltd.), Tax Matters Agreement (Maxeon Solar Technologies, Pte. Ltd.)

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Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 Article 14 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 Article 14 or the interest rate provided under such other provision.

Appears in 2 contracts

Samples: Tax Matters Agreement (CBS Outdoor Americas Inc.), Tax Matters Agreement (CBS Outdoor Americas Inc.)

Late Payments. Any amount owed by one party Party to another party Party under this Agreement which is not paid when due shall bear interest at 4.0% per annum, or, if less, the Prime Rate plus two percentmaximum interest rate allowable under applicable Law in the applicable jurisdiction, compounded semiannuallyquarterly, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 Article 14 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 Article 14 or the interest rate provided under such other provision.

Appears in 2 contracts

Samples: Tax Matters Agreement (Neogen Corp), Tax Matters Agreement (Neogen Corp)

Late Payments. Any amount owed by one party to another party under this Agreement which that is not paid when due shall bear interest at the Prime Rate plus two percent2%, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 Article XV duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 Article XV or the interest rate provided under such other provision.

Appears in 2 contracts

Samples: Tax Matters Agreement (Brinks Co), Tax Matters Agreement (Brink's Home Security Holdings, Inc.)

Late Payments. Any amount owed by one party Party to another party Party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, 2% per annum from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 2 contracts

Samples: Tax Matters Agreement (Oneok Inc /New/), Tax Matters Agreement (ONE Gas, Inc.)

Late Payments. Any amount owed by one party Party to another party Party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 2 contracts

Samples: Tax Matters Agreement (CNX Resources Corp), Tax Matters Agreement (CONSOL Mining Corp)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two 2% percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 1 contract

Samples: Tax Sharing Agreement (NCR Corp)

Late Payments. Any amount owed payable by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Base Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 5.07 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 5.07 or the interest rate provided under such other provision.

Appears in 1 contract

Samples: Tax Sharing Agreement (Fluor Corp)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 16 duplicates interest required to be paid under any other provision of this H-29 129 Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 16 or the interest rate provided under such other provision.

Appears in 1 contract

Samples: Distribution Agreement (Pactiv Corp)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, Table of Contents compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 1 contract

Samples: Tax Matters Agreement (Hewlett Packard Enterprise Co)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percentpercent (2%), compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 14 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest in- terest rate provided under this Section 15 14 or the interest rate provided under such other provision.

Appears in 1 contract

Samples: Tax Matters Agreement (Adient LTD)

Late Payments. Any amount owed by one party Party to another party Party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 Article XV duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 Article XV or the interest rate provided under such other provision.

Appears in 1 contract

Samples: Tax Matters Agreement (Healthy Choice Wellness Corp.)

Late Payments. Any amount owed by one party Party to another party Party under this Agreement which that is not paid when due shall bear interest at the Prime Rate plus two percentpercent (2%), compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher high- er of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 1 contract

Samples: Tax Matters Agreement (GXO Logistics, Inc.)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due shall bear interest at the Prime Rate plus two 2 percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 or the interest rate provided under such other provision.

Appears in 1 contract

Samples: Tax Sharing Agreement (Teradata Corp /De/)

Late Payments. Any amount owed by one party to another party under this Agreement which is not paid when due (after giving effect to the periods provided herein to make such payments) shall bear interest at the Prime Rate plus two percent, compounded semiannually, from the due date of the payment to the date paid. To the extent interest required to be paid under this Section 15 14 duplicates interest required to be paid under any other provision of this Agreement, interest shall be computed at the higher of the interest rate provided under this Section 15 14 or the interest rate provided under such other provision.

Appears in 1 contract

Samples: Tax Matters Agreement (Us Neurosurgical Inc)

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