Late Repayment After the Production Period Interest Sample Clauses

Late Repayment After the Production Period Interest where the Producer has made a repayment later than the timeframe established in 3.3 above, the Producer must pay penalty interest on the repayment amount, at the Prime rate of the Lender plus 1.00% per annum over the number of days the repayment was late. Where applicable, the penalty interest is to be charged in lieu of the normal interest-bearing rate on the late repayment amount over the period it was late.
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Related to Late Repayment After the Production Period Interest

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  • FINAL COMPLETION AND FINAL PAYMENT 9.9.1 Upon receipt of written notice that the Work is ready for final inspection and acceptance and upon receipt of a final Application for Payment, the Architect will promptly make such inspection and, when he or she finds the Work acceptable under the Contract Documents and the Contract fully performed, he or she will promptly issue a final Certificate for Payment stating that to the best of his / her knowledge, information and belief, and on the basis of his or her observations and inspections, the Work has been completed in accordance with the terms and conditions of the Contract Documents and that the entire balance found to be due the Contractor, and noted in said final Certificate, is due and payable. The Architect's final Certificate for Payment will constitute a further representation that the Contractor has fulfilled the conditions entitling him or her to final payment as set forth in Subparagraph 9.9.2 of these General Conditions.

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