PAYMENTS AND DEFAULT INTEREST Sample Clauses

PAYMENTS AND DEFAULT INTEREST. 13.1 All monies due under the Agreement are to be paid by the Customer by direct debit. To this end, the Customer agrees to complete and return a direct debit form to the Manager within three (3) Working Days of being requested by the Manager to do so. 13.2 Where any part of the Licence Fee, Outgoings or other monies due under the Agreement remains outstanding for more than three (3) Working Days from the due date noted in the relevant invoice, the Manager may charge default interest. Default interest will accrue at the Default Rate (calculated on a daily basis) on the outstanding amount from the due date until the date of payment (inclusive).
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PAYMENTS AND DEFAULT INTEREST. Subject to Section 11.04, the Company covenants and agrees that it will cause to be paid the Payments and Default Interest on each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes.
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PAYMENTS AND DEFAULT INTEREST. 13.1 All monies due under the Agreement are to be paid by the Customer using direct debit. To this end, the Customer agrees to complete and return a direct debit form to the BBC within three (3) Working Days of being requested by the BBC to do so. 13.2 Where any part of the Licence Fee, Outgoings or other monies due under the Agreement remains outstanding for more than three (3) Working Days from the due date noted in the relevant invoice, the BBC may at its discretion charge default interest. Default interest will accrue at the Default Rate (calculated on a daily basis) on the outstanding amount from the due date until the date of payment (inclusive).
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PAYMENTS AND DEFAULT INTEREST. 13.1 All payments to be made by any Borrower under this agreement shall be made on the due date in immediately available funds to the Bank by payment in U.S. Dollars (or in the case of a Guarantee denominated in an Optional Currency or costs, expenses and taxes and the like in the relevant Optional Currency or in the currency in which they are incurred (as the case may be)) to the Bank's U.S. Dollar Account Number 3582 023094 001 at Standard Chartered Bank, 000 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx SWIFT-ID SCBLUS33 or such other account as the Bank may specify. 13.2 All payments to be made by any Borrower under or in connection with this agreement shall be made without any set-off or counterclaim and free of and without deduction for any taxes or other deductions of any nature whatsoever now or hereafter imposed or made, all of which shall be for the account of such Borrower. Should any such payment be subject to any such tax or deduction, the Borrowers shall indemnify the Bank against the same and shall pay to the Bank as provided above such additional amounts as may be necessary to enable the Bank to receive a net amount equal to the full amount provided for under this agreement, had there been no such tax or deduction. The relevant Borrower shall deliver to the Bank within thirty days of each such payment by the relevant Borrower of such tax evidence satisfactory to the Bank (including all relevant tax receipts) that such tax has been duly remitted to the appropriate authority. 13.3 If the Bank determines, in its absolute discretion, that it has received, realised, utilised and retained a tax benefit by reason of any deduction or withholding in respect of which a Borrower has made an indemnity payment under Clause 13.2, the Bank shall, as and when it has received all amounts which are then due and payable by the Obligors under any Security Document, pay to that Borrower (to the extent that the Bank can do so without prejudicing the amount of the benefit or repayment and right of the Bank to obtain any other benefit, relief or allowance which may be available to it) such amount, if any, as the Bank, in its absolute discretion shall determine, will leave the Bank in no worse position that it would have been in if the deduction or withholding had not been required, provided that: 13.1.1 the Bank shall have an absolute discretion as to the time at which and the order and manner in which it realises or utilises any tax benefit and shall not be obliged to arrange...
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PAYMENTS AND DEFAULT INTEREST. 6.1 The amount payable by one Party to the other Party pursuant to the provisions of clause 5 shall be paid by the close of business on the 2nd Business Day following such close-out and liquidation of the position. Payments made by the Agent to Lloyd’s under this Agreement shall be made without set-off, deduction or counterclaim. To the extent permitted by applicable law, any amounts required to be paid under clause 5 and not paid on the due date therefore shall bear interest at 1% over National Westminster Bank’s base rate from time to time in force.‌ 6.2 The Agent hereby irrevocably directs that any payment to Lloyd’s hereunder shall be made out of the Premiums Trust Funds of the Syndicate Members and confirms the authority of Lloyd’s (including as operator of the Central Accounting System) to debit accounts holding such funds.
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PAYMENTS AND DEFAULT INTEREST. 36.1 When a party pays an amount due under this Agreement, it shall pay it: (a) for value on the due date; (b) to such account of the other party as it has specified therefor; (c) in RUB; and (d) in full, without, and free and clear of, any deduction for: (i) set-off or counterclaim; and (ii) any withholding for or on account of any Tax, or any other deduction, unless the law requires it. 36.2 If a party must make a withholding or deduction referred to in Clause 36.1(d) because the law requires it, that party shall: (a) ensure the withholding or deduction does not exceed the minimum amount the law requires; and (b) increase the amount payable so the net amount the other party receives and holds equals the amount it would have received and held if the law had not required the withholding or deduction. 36.3 If any payment under this Agreement would become due on a day which is not a Business Day, it must be paid on the immediately following Business Day. 36.4 If a party fails to pay any amount payable by it under this Agreement on its due date, interest shall accrue on the overdue amount: (a) daily; (b) from the due date until the date of payment (both before and after judgment); and (c) at 5% per cent per annum. 36.5 Any interest accruing under this Clause shall be immediately payable by the party that has failed to pay the relevant amount on demand by the other party.
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PAYMENTS AND DEFAULT INTEREST. 7.1 Time of payment
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Related to PAYMENTS AND DEFAULT INTEREST

  • 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. (i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. (ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. (iii) Upon the request of the Required Lenders, while any Event of Default exists (including a payment default), all outstanding Obligations (including L/C Fees) may accrue at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. (d) For the purposes of the Interest Act (Canada), (i) whenever a rate of interest or fee rate hereunder is calculated on the basis of a year (the “deemed year”) that contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest or fee rate shall be expressed as a yearly rate by multiplying such rate of interest or fee rate by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year, (ii) the principle of deemed - 45 - reinvestment of interest shall not apply to any interest calculation hereunder and (iii) the rates of interest stipulated herein are intended to be nominal rates and not effective rates or yields.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • Payments after Default Upon the occurrence and during the continuance of an Event of Default, interest on the outstanding principal balance of the Loan and, to the extent permitted by law, overdue interest and other amounts due in respect of the Loan, shall accrue at the Default Rate, calculated from the date such payment was due without regard to any grace or cure periods contained herein. Interest at the Default Rate shall be computed from the occurrence of the Event of Default until the earlier of (i) in the event of a non-monetary default, the cure of such Event of Default by Borrower and acceptance of such cure by Lender, and (ii) in the event of a monetary default, the actual receipt and collection of the Debt (or that portion thereof that is then due). To the extent permitted by applicable law, interest at the Default Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Mortgage. This paragraph shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default and Lender retains its rights under the Note and this Agreement to accelerate and to continue to demand payment of the Debt upon the happening and continuance of any Event of Default.

  • 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.

  • Prepayments After Default Following an Event of Default, if Borrower or anyone on Borrower's behalf makes a tender of payment of all or any portion of the Debt at any time prior to a foreclosure sale (including a sale under the power of sale under the Mortgage), or during any redemption period after foreclosure, (i) the tender of payment shall constitute an evasion of Borrower's obligation to pay any Prepayment Consideration due under this Agreement and such payment shall, therefore, to the maximum extent permitted by law, include a premium equal to the Prepayment Consideration that would have been payable on the date of such tender had the Loan not been so accelerated, or (ii) if at the time of such tender a prepayment of the principal amount of the Loan would have been prohibited under this Agreement had the principal amount of the Loan not been so accelerated, the tender of payment shall constitute an evasion of such prepayment prohibition and shall, therefore, to the maximum extent permitted by law, include an amount equal to the greater of (i) 1% of the then principal amount of the Loan (or the relevant portion thereof being prepaid) and (ii) an amount equal to the excess of (A) the sum of the present values of a series of payments payable at the times and in the amounts equal to the payments of principal and interest (including, but not limited to the principal and interest payable on the Maturity Date) which would have been scheduled to be payable after the date of such tender under this Agreement had the Loan (or the relevant portion thereof) not been accelerated, with each such payment discounted to its present value at the date of such tender at the rate which when compounded monthly is equivalent to the Prepayment Rate, over (B) the then principal amount of the Loan.

  • Default Interest; Other Amounts Prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party that defaults in the performance of any payment obligation will, to the extent permitted by law and subject to Section 6(c), be required to pay interest (before as well as after judgment) on the overdue amount to the other party on demand in the same currency as such overdue amount, for the period from (and including) the original due date for payment to (but excluding) the date of actual payment, at the Default Rate. Such interest will be calculated on the basis of daily compounding and the actual number of days elapsed. If, prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party defaults in the performance of any obligation required to be settled by delivery, it will compensate the other party on demand if and to the extent provided for in the relevant Confirmation or elsewhere in this Agreement.

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