Maximum Interest Rate; Payment of Fee Sample Clauses

Maximum Interest Rate; Payment of Fee. If the rate of interest payable hereunder with respect to any Revolving Loan and the MTA RAN which evidences and secures the Revolving Loan or any other Obligations hereunder or under the Fee Letter shall exceed the Maximum Lawful Rate for any period for which interest is payable, then (i) interest at such Maximum Lawful Rate shall be due and payable with respect to such interest period and
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Maximum Interest Rate; Payment of Fee. If the rate of interest payable hereunder or under the Fee Letter shall exceed the Maximum Lawful Rate for any period for which interest is payable, then (i) interest at such Maximum Lawful Rate shall be due and payable with
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Maximum Interest Rate; Payment of Fee. If the rate of interest payable hereunder with respect to any Loan, the Note or any other Obligations hereunder shall exceed the Maximum Lawful Rate for any period for which interest is payable, then (a) interest at such Maximum Lawful Rate shall be due and payable with respect to such period and (b) interest at the rate equal to the difference between (i) the rate of interest calculated in accordance with the terms hereof and thereof and (ii) such Maximum Lawful Rate (the “Excess Interest”), shall be deferred until such date as the rate of interest calculated in accordance with the terms hereof ceases to exceed such Maximum Lawful Rate, at which time the Borrower shall pay or cause to be paid to the Bank, with respect to any Loan, the Note or any other Obligations hereunder, such portion of the deferred Excess Interest as will cause the rate of interest then paid to the Bank to equal such Maximum Lawful Rate, which payments of deferred Excess Interest shall continue to apply to such unpaid Loan, the Note or any other Obligations hereunder until all deferred Excess Interest is fully paid to the Bank. On the date on which no principal amount with respect to the Obligations or the Note remains unpaid, in consideration for any limitation of the rate of interest which may otherwise be payable hereunder, the Borrower shall pay or cause to be paid to the Bank a fee equal to the amount of all unpaid deferred Excess Interest (the “Excess Interest Fee”).
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Maximum Interest Rate; Payment of Fee. Upon termination of this Agreement, the Commission shall pay to the Bank a fee in an amount equal to the aggregate Excess Amount (as defined herein), if any, for all Bank Bonds. The “Excess Amount” for each Bank Bond shall be the aggregate amount obtained by multiplying the principal amount due on such Bank Bond on any day by the positive difference between (w) the Bank Rate or Default Rate otherwise applicable to such Bank Bond and (x) the Maximum Interest Rate, for each day during any period that the Bank Rate or Default Rate is higher than the Maximum Interest Rate (the “Excess Interest Period”). The Excess Amount for each Bank Bond shall be reduced by the aggregate amount obtained by multiplying the principal amount due on such Bank Bond on any day by the negative difference between (y) the Bank Rate or Default Rate otherwise applicable to such Bank Bond and (z) the Maximum Interest Rate, for each day following any Excess Interest Period that such Bank Bond continues to accrue interest at the Maximum Interest Rate. As long as a Bank Bond is Outstanding, if the Bank Rate or Default Rate relating to such Bank Bond shall change, the Excess Amount, if any, shall be recalculated using the then current Bank Rate or Default Rate. In the event that the Bank Rate or Default Rate applicable to a Bank Bond on any day falls below the Maximum Interest Rate, interest on the principal amount due on such Bank Bond shall continue to accrue, but only until such Bank Bond is paid in full, at the Maximum Interest Rate until such time as the Excess Amount is reduced to zero. The amount of the fee payable to the Bank under this Section 2.02(h) shall be in consideration for the limitation of the rate of interest on the Bank Bonds to the Maximum Interest Rate.
Sample 1

Related to Maximum Interest Rate; Payment of Fee

  • 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”).

  • 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.

  • 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.

  • 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).

  • 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.

  • 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.

  • Payment of Fee The cash management fee referred to in Clause 9.1 (Fee Payable) shall only be payable to the Current Issuer Cash Manager on each Payment Date in the manner contemplated by, in accordance with and subject to the provisions of the Current Issuer Pre-Enforcement Revenue Priority of Payments or, as the case may be, the Current Issuer Post-Enforcement Priority of Payments.

  • 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.).

  • 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 Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

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