OVERDUE DEBT Clause Samples
OVERDUE DEBT. 6.9.1. If any payment hereunder or in connection with performance of this Agreement is not received by the Lender within the terms provided for herein, all such payments non-performed and/or untimely performed by the Borrower hereunder shall be considered as occurrence of the Borrower’s overdue debt to the Lender.
6.9.2. From the date following the date of occurrence of the overdue Principal debt under the Credit Facility and till the Final debt repayment date under the Credit Facility, the Bank shall be entitled to demand payment of penalty in the amount of 0.05 (Zero point five hundredths) per cent accrued to the overdue Principal debt amount under the Credit Facility for each day of delay.
6.9.3. From the date following the date of occurrence of the overdue interest debt under the Credit Facility and till its final repayment date, the Bank shall be entitled to demand payment of penalty in the amount of 0.05 (Zero point five hundredths) per cent accrued to the overdue interest debt amount under the Credit Facility for each day of delay.
6.9.4. In case of non-performance or undue performance by the Borrower of the conditions provided for in subclause 6.7.2.2 hereof, the Bank shall be entitled to request payment of the forfeit for the Borrower’s failure to pay the interest, repay the principal debt or any other obligations of the Borrower according to the conditions hereof valid from the Effective Date.
6.9.5. If the Lender decides to file the claim against the Borrower for payment of the forfeit in accordance with subclause 6.9.4 hereof, the Lender shall send the written notification to the Borrower with specification of the claim performance term.
OVERDUE DEBT. Any principal amount which is not paid on its due date and not approved by the Lender for restructuring shall become an overdue debt on the day following the due date (“Overdue Date”). The Default Rate on Principal stated in Article 1.3 Part B of this Agreement shall be applied on the Overdue Date until the actual payment date (both dates inclusive)
OVERDUE DEBT. 6.10.1. If any payment under this Agreement or connected with performance hereof is not received by the Creditor within the time specified in this Agreement, all such non-effected and/or late payments of the Borrower hereunder shall be considered as the Borrower’s overdue debt to the Creditor.
6.10.2. Beginning with the date following the date when overdue debt under Credit Facility Principal arises, and through the Credit Facility repayment date, the Bank may require payment of penalty in the amount of 0.05 (zero point five hundredths) per cent accrued on the amount of Credit Facility Principal overdue for every day of delay.
6.10.3. Beginning with the date following the date when interest overdue occurs and through the date of its repayment in full, the Bank may require payment of penalty in the amount of 0.05 (zero point five hundredths) per cent accrued on the amount of Credit Facility interest overdue for every day of delay.
6.10.4. Beginning with the date following the date when fee(s) overdue occurs and through the date of its repayment in full, the Bank may require payment of penalty in the amount of 0.05 (zero point five hundredths) per cent accrued on the amount of overdue debt for every day of delay.
OVERDUE DEBT. 10.1 The outstanding amount of the minimum payment due remaining unpaid shall be classified as overdue debt. If Cardholder is 45 days past due, the whole Statement Balance shall be classified as overdue debt.
10.2 All Card Transactions not debited to Credit Card Account upon the carrying over of overdue debt classified as overdue debt when debited.
10.3 After the conversion classification to overdue, BIDV may suspend or terminate Cardholder’s use of Card and resort to any lawful measures to recover the debt (including the principal, all accrued interest and charges thereof) from Cardholder’s income, Accounts, other saving accounts opened via any other credit institution, or assets under the ownership or co- ownership of Cardholder without Cardholder’s consent.