Payment Terms and Default Interest Sample Clauses

Payment Terms and Default Interest. 4.4.1. The Borrower shall pay to the Agent in accordance with applicable provisions of this Agreement to its account with Citibank N.A. in New York or as otherwise designated by the Agent, all sums (such as principal, interests or fees) which it is required to pay by this Agreement or related documents, in immediately available funds and in US Dollars before 12:00 noon time (Taipei time) on the due date.
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Payment Terms and Default Interest. 4.4.1. The Borrower shall pay to the Agent in accordance with applicable provisions of this Agreement, all sums (such as principal, interests or fees) which it is required to pay by this Agreement or related documents, in immediately available funds and in NT Dollars before 1:00 pm (Taipei time) on the due date.
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Payment Terms and Default Interest. 4.4.1. The Borrower shall pay to the Agent in accordance with applicable provisions of this Agreement, all sums (such as principal, interests or fees) which it is required to pay by this Agreement or related documents, in immediately available funds and in NT Dollars before 1:00 pm (Taipei time) on the due date. 4.4.2. Any sum payable hereunder may be paid on the next Business Day if the due date thereof is not a Business Day, unless such Business Day falls in another calendar month, in which case the payment shall be made on the Business Day 11 immediately preceding the due day. 4.4.3. If any of the payments required under this Agreement is not paid when due, the Borrower shall immediate cure such nonpayment pursuant to the Agreement, and pay interests thereon to the Banks and/or the Agent at the Default Rate, calculated on the basis of a 365-day year and the actual number of days elapsed, for the period from the due date to the date of actual receipt by the Banks and/or the Agent of such payment. If any such nonpayment pertains to interest payments, a penalty equal to 10% of the overdue nonpayment shall be levied against the Borrower for the first 6 months, and a penalty equal to 20% of the overdue amount shall be levied against the Borrower if such nonpayment remains outstanding for more than six months. 4.4.4. All payments to the Banks from the Borrower under this Agreement shall be paid to the Agent for its distribution to the Banks. Payments made directly to the Banks by the Borrower will not relieve Borrower of its obligations under the Agreement. Save for payments payable solely to the Arrangers or the Agent, the Agent shall, upon its receipt from the Borrower of payments due to the Banks, distribute and forward such payments to each Bank for repayment. Each Bank, the Arrangers and the Agent shall issue and deliver a receipt directly to the Borrower for payment received. 4.5.
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Payment Terms and Default Interest. 4.4.1. The Borrower/Guarantor shall pay to such location or account designated by the Agent all sums (such as principal, interests or fees) required to pay by this Agreement or related documents, in immediately available funds and in NT Dollars before 12:00 noon Taipei time on the maturity or due date in accordance with applicable provisions of this Agreement. Any calculated interest rate or fee rate under this Agreement shall be rounded to four decimal places with rounding up if the fifth decimal place is 5 or more, and any amount of interest or fee shall be rounded to the nearest whole NT Dollar.
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Related to Payment Terms and Default Interest

  • Payment of Default Interest Any interest which shall have accrued under Clause 16.2 (Default Interest) in respect of an unpaid sum shall be due and payable and shall be paid by the Borrower at the end of the period by reference to which it is calculated or on such other dates as the Lender may specify by written notice to the Borrower.

  • Payment of accrued default interest Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.

  • 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.

  • 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:

  • Interest and Default Rate (a) Subject to the provisions of subsection (b) below, (i) each Eurocurrency Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.

  • 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.

  • 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.

  • Default Interest Rate From and after the occurrence of any Event of Default, and so long as any such Event of Default remains unremedied or uncured thereafter, the Obligations outstanding under the Agreement shall bear interest at a per annum rate of five percent (5%) above the otherwise applicable interest rate hereunder, which interest shall be payable upon demand. In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar days after the payment due date therefor, but acceptance of payment of any such charge shall not constitute a waiver of any Event of Default under the Agreement. In no event shall the interest payable under this Addendum and the Agreement at any time exceed the maximum rate permitted by law.

  • Calculation of default rate of interest The rates referred to in Clause 7.2 are:

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