PAYMENT, INTEREST& DISCOUNTS Sample Clauses

PAYMENT, INTEREST& DISCOUNTS. 2.1 DO will be issued only after receipt of payment/security of payment by MOIL through any of the following: 1. Payment through RTGS/NEFT. 2. Irrevocable Bank Guarantee (BG). 3. Irrevocable Letter of Credit (LC). 4. Any or all of the above. 2.1.1. However, in exceptional cases, Demand Draft (DD)/Pay Order (PO) will also be accepted. 2.2 In case the payment is made in the form of DD/PO/RTGS/NEFT by the buyer against the DO, a cash discount @ 0.50% will be allowed. 2.3 Credit Balance (CB) in the account will be considered as payment for issuing DO or will be refunded, if so requested by the buyer. If DO is issued against the credit balance, the same shall accordingly be eligible for cash discount of 0.50% to the extent of clear balance quantified by MOIL for this purpose. The actual discount shall, however, be calculated on the ore value of quantity dispatched. 2.4 The BG or LC shall be drawn from any Scheduled Commercial Bank acceptable to MOIL including Nationalized Bank having operating branch at Nagpur as per proforma provided by MOIL. The terms and conditions of BG or LC shall be such as acceptable to MOIL. BG or LC shall be routed through State Bank of India, Main Branch, Nagpur or IDBI Bank, Civil Lines, Nagpur and remittance against the bills shall be made to SBI A/c no: 11172255746 (IFSC Code: SBIN0063869) or IDBI A/c No.041102000018027(IFSC Code : IBKL0000041). MOIL shall have the discretion of obtaining confirmation of BG or LC from the Bankers at Nagpur. 2.5 The Advance payment/Credit Balance/BG or LC shall be for the 100% of the F.O.R. value of the DO for dispatch plus applicable interest plus Royalty, DMF, NMET, Madhya Pradesh Gramin Avsanrachna Tatha Xxxxx Xxxxxx Adhiniyam 2005 Tax, thereafter referred as road cess, plus CGST, SGST or IGST as applicable on date of supply and other levies as may be applicable (collectively referred to as “Taxes and Duties”). Further, additional 5% of contracted value/ DO value shall be payable on account of price and quantity variation for rail dispatch. 2.6 Since MOIL does not have railway siding at its Gumgaon, Beldongri, Parsoda, Ukwa and Sitapatore Mines, the ore from these mines shall be transported by Road transport at the cost of the Buyer to Kandri, Munsar, Balaghat and Tirodi Mines respectively, in case buyer desires for dispatch via Rail from these mines. 2.6.1 The actual cost for such Road Transport from respective Mines to the preferred Railway siding including additional loading/unloading operatio...
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Related to PAYMENT, INTEREST& DISCOUNTS

  • Payment; Interest Computation Interest is payable monthly on the first calendar day of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Pacific time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

  • Prepayment Fee The Prepayment Fee, when due hereunder, to be shared between the Lenders in accordance with their respective Pro Rata Shares; and

  • Prepayment Fees Borrower agrees to pay to each New Term Loan Lender the following prepayment fees, if any: [ ].

  • 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).

  • Interest Due Without limiting any other rights or remedies available to either Party, each Party shall pay the other interest on any payments that are not paid on or before the date such payments are due under this Agreement at a rate of [*] per annum or the maximum applicable legal rate, if less, calculated on the total number of days payment is delinquent.

  • Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges Borrower will pay each Periodic Payment when due. Borrower will also pay any prepayment charges and late charges due under the Note, and any other amounts due under this Security Instrument. Payments due under the Note and this Security Instrument must be made in U.S. currency. If any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (d) Electronic Fund Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 16. Lender may accept or return any Partial Payments in its sole discretion pursuant to Section 2. Any offset or claim that Borrower may have now or in the future against Lender will not relieve Borrower from making the full amount of all payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument.

  • Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate. 5.10.2 In respect of Interest Periods pursuant to Clause 5.3.2 and subject to Clause 5.3.2, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during an Interest Period shall be the Fixed Rate.

  • Interest Amount Unless otherwise specified in Paragraph 11(f)(iii), the Transferee will transfer to the Transferor at the times specified in Paragraph 11(f)(ii) the relevant Interest Amount to the extent that a Delivery Amount would not be created or increased by the transfer, as calculated by the Valuation Agent (and the date of calculation will be deemed a Valuation Date for this purpose).

  • Payments of Principal and Interest Prepayments Fees Section 3.01 Repayment of Loans 35 Section 3.02 Interest 35 Section 3.03 Alternate Rate of Interest 36 Section 3.04 Prepayments 37 Section 3.05 Fees 38

  • Interest on Delinquent Payments Without waiving any other right or action available to Authority, in the event of default of Company's payment of Rents or other charges hereunder, and in the event Company is delinquent in paying to Authority any Rents or other charges for a period of five (5) days after the payment is due, Authority reserves the right to charge Company interest thereon from the date the Rents or other charges became due to the date of payment at one and one-half percent (1.5%) per month, to the maximum extent permitted by Applicable Law.

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