Penalty Interest Clause Samples

Penalty Interest. Following the occurrence and during the continuance of any Event of Default, the holders of the Notes shall be entitled to receive, to the extent permitted by applicable law, interest on the outstanding principal of, and overdue interest, if any, on, the Notes at a rate per annum equal to the highest rate permitted by applicable law.

Penalty Interest. Overdue penalty interest, misappropriation penalty, calculation and payment arising out of the financing under this Agreement shall be defined by the Credit Line Table or subsequent financing documents.

Penalty Interest. (1) Where the loan is overdue or is not used for purposes as agreed herein, penalty interest will be imposed on the part of loan overdue or used for other purposes at the penalty interest rate as agreed herein from the date on which the loan becomes overdue or is misappropriated, till both the principal and interests are paid up. Where the loan is overdue and misappropriated at the same time, penalty interest will be imposed at a higher penalty interest rate. (2) Where the Borrower fails to pay the interest and penalty interest on time, the interest settlement method as agreed in Para. 3 herein shall apply, and compound interest will be calculated and collected at the penalty interest rate as agreed herein. (3) Penalty interest rate ∎ Penalty interest rate for floating rate loan A. Penalty interest rate shall be subject to repricing according to the repricing periods as agreed in Para. 1 herein from the day on which the loan becomes overdue or is misappropriated. The penalty interest rate repricing day shall be the corresponding day of the day on which the loan becomes overdue or is misappropriated in the reppricing month. Where there is no corresponding day, the last day of the month shall be the penalty interest rate repricing day. B. The penalty interest rate for overdue loan shall be 150 % of the basic penalty interest rate as determined in Item C herein, and that for misappropriated loan shall be 200 % of the basic penalty interest rate as determined in Item C herein. C. In the initial repricing period, the basic penalty interest rate shall be the interest rate for loan applicable in the current period of overdue or misappropriated loan. When each repricing period expires, the basic penalty interest rate of the next period shall be repriced on the repricing day by the method as agreed in Para. 1 herein.

Penalty Interest. 3.3.3.1 Where the borrower fails to repay the loan principal within the period set forth herein, the lender will charge the penalty interest period by period according to the overdue period on the overdue loan from the due date on the basis of the applicable loan interest rate set forth herein: penalty interest will be charged at the applicable loan interest rate plus _fifty_(in words) percent within 30 days (inclusive) of the due date; penalty interest will be charged at the applicable loan interest rate plus _fifty_(in words) percent beyond 30 days and less than 60 days (inclusive) of the due date; penalty interest will be charged at the applicable loan interest rate plus _fifty_(in words) percents beyond 60 days of the due date; During the overdue period, with respect to RMB loan on which interest accrues at the fixed interest rate (base rate pricing), the penalty interest rate shall be adjusted accordingly as of the date of adjustment to the base rate in case of any upward adjustment to the RMB loan base rate of the same period by the People’s Bank of China; with respect to RMB loan on which interest accrues at the fixed interest rate (prime rate pricing), the penalty interest rate shall be adjusted accordingly as of the working day immediately following the adjustment to the one-year LPR in case of any upward adjustment to the one-year LPR. 3.3.3.2 Where the borrower fails to use the loan for the purpose set forth herein, the lender will charge the penalty interest on the misappropriated loan from the misappropriation date at the agreed loan interest rate plus one hundred (in words) percent, until repayment of the loan principal and interest. During the misappropriation period, with respect to RMB loan on which interest accrues at the fixed interest rate (base rate pricing), the penalty interest rate shall be adjusted accordingly as of the date of adjustment to the base rate in case of any upward adjustment to the RMB loan base rate of the same period by the People’s Bank of China; with respect to RMB loan on which interest accrues at the fixed interest rate (prime rate pricing), the penalty interest rate shall be adjusted accordingly as of the working day immediately following the adjustment to the one-year LPR in case of any upward adjustment to the one-year LPR. 3.3.3.3 Where the borrower fails to both repay the loan principal on due date and use the loan for the purpose set forth herein with respect to one and the same loan, the penalty interest r...

Penalty Interest. Nothing herein shall ▇▇▇▇▇ or reduce any penalty and/or interest that will be assessed by the Johnson County Treasurer in accordance with applicable state laws relating to late tax payments.

Penalty Interest. (1) For the loan overdue or violated use the loan purpose, penalty interest rate will apply to the loan amount that is overdue or misappropriated from the date of overdue or misappropriation until the principal and interest are paid off. On both overdue and misappropriation of loans, a higher penalty interest rate shall be charged. (2) If the borrower does not pay interest and/or penalty interest by the interest payment date, the interest is calculated based on Clause 3 and 4. (3) Penalty rate ■ The penalty interest rate on floating-rate loans According to the floating period and the method of floating as agreed in Clause 1, the penalty interest rate of the overdue loan shall be the agreed interest rate plus 50%, and the penalty interest rate of the misappropriated loan shall be the agreed interest rate plus 100%;

Penalty Interest. ‌ (a) Council will pay to the Lending Body by way of electronic transfer all Penalty Interest received by Council from the Owner or otherwise recovered by Council, whether as a result of the exercise of its powers of enforcement or otherwise, less an amount equal to that Penalty Interest calculated at the rate of 0.5% per annum paid with respect to the unpaid amount under clause 4.2(a), which Council may retain as an administrative cost of imposing and collecting the Penalty Interest. Payment must be made by Council by way of electronic transfer within 5 Business Days after Council has received cleared funds for the Penalty Interest. (b) Council is not liable to the Lending Body if Council fails to receive all Penalty Interest from the Owner. Accordingly, any such failure does not make Council liable to pay the Lending Body any amount under clause 5.4(a) as if Council had received that amount from the Owner.

Penalty Interest. If the Buyer fails to pay the purchase price within the period agreed, the Seller shall levy a 16% penalty interest starting from the invoice due date. The penalty interest shall be charged in a reminder invoice and a reminder fee.

Penalty Interest. ‌ (a) The Owner shall pay penalty interest on any amount of a Charge Payment:‌ (i) which the Owner is liable to pay; and (ii) which has not been paid by the Owner by the Charge Payment Date, calculated at the rate for the time being fixed under section 2 of the Penalty Interest Rates ▇▇▇ ▇▇▇▇ (Vic) (“Penalty Interest”). (b) The Penalty Interest must be calculated, paid by the Owner and recovered by Council in accordance with sections 172(2), 172(2A) and 172(4) of the Local Government Act.