Common use of Payment in Immediately Available Funds; Interest Clause in Contracts

Payment in Immediately Available Funds; Interest. All payments made pursuant to this Agreement shall be made in immediately available funds. Except as otherwise provided herein, any payment not made within 15 days of receipt of notice of such payment shall thereafter bear interest at the Overdue Rate from the date of receipt of notice of such payment.

Appears in 2 contracts

Samples: Tax Allocation and Indemnity Agreement (Park Place Entertainment Corp), Tax Allocation and Indemnity Agreement (Park Place Entertainment Corp)

AutoNDA by SimpleDocs

Payment in Immediately Available Funds; Interest. All payments made pursuant to this Agreement shall be made in immediately available funds. Except as otherwise provided herein, any payment not made within 15 fourteen (14) days of receipt of notice of such payment when due shall thereafter bear interest at the Overdue Rate from the date of receipt of notice of such paymentpayment was due.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Five Star Quality Care Inc), Tax Sharing Agreement (Host Marriott Corp/Md)

AutoNDA by SimpleDocs

Payment in Immediately Available Funds; Interest. All payments made pursuant to this Agreement shall be made in immediately available funds. Except as otherwise provided herein, any payment not made within 15 thirty (30) days of receipt of notice of such payment when due shall thereafter bear interest from the date such payment was due at the Overdue Rate from the date of receipt of notice calculated as of such paymentdate.

Appears in 1 contract

Samples: Tax Sharing Agreement (General Cigar Holdings Inc)

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