OVERDUE DEBT Sample Clauses

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.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
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)
Sample 1
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.
Sample 1
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.
Sample 1

Related to OVERDUE DEBT

  • Overdue Charges If any invoiced amount is not received by Us by the due date, then without limiting Our rights or remedies, (a) those charges may accrue late interest at the rate of 1.5% of the outstanding balance per month, or the maximum rate permitted by law, whichever is lower, and/or (b) We may condition future subscription renewals and Order Forms on payment terms shorter than those specified in Section 6.2 (Invoicing and Payment).

  • Overdue Amounts Until paid, all amounts due and payable by the Company hereunder shall be a debt secured by the Collateral and shall bear, whether before or after judgment, interest at the rate of interest for overdue principal set forth in the Transaction Documents.

  • Overdue Payments Lessee shall pay interest on all overdue payments of Rent or other monetary amounts due hereunder at the rate of fifteen percent (15%) per annum or the highest rate allowed by law, whichever is less, accruing from the date such Rent or other monetary amounts were properly due and payable.

  • Payment of default interest on overdue amounts The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

  • Interest on Overdue Amounts 22.1 Any Licence Fee which is payable and remains unpaid for a period in excess of 30 (thirty) days from the date of the invoice, will attract interest at the current legal rate, calculated in accordance with the interest rate prescribed by the Minister of Justice in accordance with the Prescribed Rate of Interest Act 55 of 1975, as amended. 22.2 Such interest will be calculated monthly in advance and is payable by the Licensee to SAMRO on demand.

  • Default Interest Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

  • Compounding of default interest Any such interest which is not paid at the end of the period by reference to which it was determined shall thereupon be compounded.

  • INTEREST ON PAST-DUE OBLIGATIONS Except as expressly herein provided, any amount due to Lessor not paid when due shall bear interest at the maximum rate then allowable by law from the date due. Payment of such interest shall not excuse or cure any default by Lessee under this Lease, provided, however, that interest shall not be payable on late charges incurred by Lessee nor on any amounts upon which late charges are paid by Lessee.

  • Post-Default Interest Upon the occurrence, and during the continuance, of any Event of Default, the unpaid principal amount of each Advance shall bear interest at a rate per annum equal at all times to 2% per annum above the rate per annum otherwise required to be paid on such Advance in accordance with subsection (a), (b) or (c) above; provided that any amount of principal which is not paid when due (whether at stated maturity, by acceleration or otherwise) shall bear interest, from the date on which such amount is due until such amount is paid in full, payable on demand, at a rate per annum equal at all times to the greater of (x) 2% per annum above the Base Rate in effect from time to time and (y) 2% per annum above the rate per annum required to be paid on such Advance immediately prior to the date on which such amount became due.

  • Interest on Overdue Payments (a) If the User fails to pay an invoice by the Due Date, the User must, if required by the Service Provider, pay the Service Provider interest on any amount outstanding. (b) Interest will be calculated from the Due Date to the actual date of payment (both inclusive) at an annual percentage rate equal to the aggregate of: (i) the corporate overdraft reference rate (monthly charging cycle) applied by the Commonwealth Bank of Australia (Bank) as at the Due Date (or if the Bank ceases to quote such a rate, then the rate which in the opinion of the Bank is equivalent to such rate in respect of similar overdraft accommodation) expressed as a percentage; plus (ii) 2 per cent per annum.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!