Penalty Interest and Compound Interest Sample Clauses

Penalty Interest and Compound Interest. (1) If the Borrower does to use the loan for the purpose agreed under this Agreement or the Borrower fails to repay the loan on a timely basis and has not achieved agreement with the Lender concerning extension (which constitutes a late repayment), the Lender shall be entitled to a penalty interest for the misused or overdue loan based on the penalty interest rate agreed under this Agreement. With respect to the interest that is not paid on time, the Lender shall be entitled to a compound interest based on the penalty interest rate as agreed under this Agreement. (2) If the Borrower fails to repay the loan on a timely basis and has not achieved agreement with the Lender concerning extension, which shall constitute an late repayment, the penalty interest rate shall be determined in the way of the following: a) the interest rate under this Agreement is a fixed rate and the penalty interest and compound interest shall be calculated based on a fixed rate during the overdue period. The penalty interest rate shall be % higher than the interest rate of the loan; or b) the interest rate under this Agreement is a floating rate and the penalty interest and compound interest shall be calculated based on a floating rate during the overdue period, with the same floating range. The penalty interest shall be higher than the interest of the loan. (3) If the Borrower does not use the loan for the purpose agreed under this Agreement, which shall constitute a misuse of the loan, the penalty interest rate shall be determined in the way of the following: a) the interest rate under this Agreement is a fixed rate and the penalty interest and compound interest shall be calculated based on a fixed rate during the misusing period. The penalty interest rate shall be % higher than the interest rate of the loan; or b) the interest rate under this Agreement is a floating rate and the penalty interest and compound interest shall be calculated based on a floating rate during the misusing period, within the same floating range. The penalty interest shall be higher than the interest of the loan. (4) The compound interest shall be calculated in the way as agreed under this Agreement.
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Penalty Interest and Compound Interest. (1) If the Borrower fails to use the loan for the purpose as agreed hereunder, the Lender may impose penalty interest on the misappropriated part of the loan at the misappropriation penalty interest rate which is the rate _50_% higher than loan interest rate; if the Borrower fails to make repayment in time, that is, such repayment overdues, the Lender may impose penalty interest on overdue debt at the overdue penalty interest rate which is the rate _50_% higher than loan interest rate; for such interest (including interest before and after loan maturity, misappropriation penalty and overdue penalty interest) if the Borrower fails to pay in time the Lender may impose compound interest at the rate of overdue indebt according to agreement under this Contract. Where the same loan is both overdue and not used for the purpose agreed in the contract, the penalty interest rate shall be calculated at a higher rate. (2) The penalty rate is also a fixed rate if the payment interest rate is a fixed rate; the penalty rate is also a floating rate if the payment interest rate is a floating rate by a consistent floating period with the floating period of the borrowing rate. (3) The penalty interest and compound interest are calculated in accordance with the loan interest repayment method agreed in this Contract.
Sample 1See All (5)
Penalty Interest and Compound Interest. 1. If Party B fails to repay the loan on schedule as agreed herein, Party A will calculate the interest on the portion that is past due at the Overdue Penalty Interest Rate starting on the day following the due date of that portion, until both the principal and interest of the loan is paid off. The Penalty Interest Rate for the delayed portion shall be the original interest rate as stipulated in Article 1 herein plus an additional 50% thereof. 2. If Party B fails to use the loan in accordance with the provisions herein, the interest on the diverted portion of the loan shall be calculated at the Diversion Penalty Interest Rate starting on the day of appropriating the portion of the loan, until both the principal and interest of the loan is paid off. The Diversion Penalty Interest Rate for the diverted portion shall be the original interest rate as stipulated in Article 1 herein plus an additional 100% thereof. 3. For the portion that is both past due and used for diverted purpose(s), the interest on this portion of the loan shall be calculated at the Diversion Penalty Interest Rate as stipulated above. 4. If Party B fails to pay any interest on schedule, the interest shall be calculated using the settlement method as stipulated in Provision 3 of in this Article. The interest will be compounded at the loan rate as stipulated in Provision 1 of this article within the term of the loan. After the maturity of the loan, the interest will be compounded at the Penalty Interest Rate stipulated herein. 5. The calculation of penalty interest and compounded interest shall be adjusted in accordance with the loan interest rates as stipulated in this contract; such penalty and compounded interests shall be calculated in segments on the adjustment dates.
Sample 1Sample 2
Penalty Interest and Compound Interest. (1) If the borrower fails to use the loan based on the purpose agreed in the contract, since the date of embezzlement, the lender shall have the right to collect penalty interest for the loan being embezzled, and the penalty interest rate shall be 150% of the loan interest rate; if the borrower fails to repay the loan as scheduled and fails to reach an agreement with the lender on the loan renewal, namely, if the loan becomes overdue, since the date of overdue, the lender shall have the right to collect penalty interest for the overdue loan, and the penalty interest rate shall be 130% of the loan interest rate. For the interest not repaid as scheduled (including interest before and after the expiry of the loan, penalty interest for loan embezzlement and penalty interest for overdue loan), the lender shall have the right to collect compound interest based on the loan overdue penalty interest rate agreed herein. If the loan not only becomes overdue, but is also embezzled, the penalty interest will be collected in the way whichever is higher. (2) If the fixed loan interest rate is adopted, the penalty interest will also be fixed; if the loan interest rate is floating, the penalty interest will also be floating; the floating cycle will be consistent with the floating cycle of the loan interest rate. (3) The way to collect the penalty interest and the compound interest shall be implemented based on the loan interest repayment way agreed herein.
Sample 1Sample 2
Penalty Interest and Compound Interest. (1) If the Borrower fails to use the loan according to the use hereof, the Lender shall have the right to impose upon penalty interest, and the penalty interest rate increases by ____% of loan interest rate. If the Borrower is overdue to pay back and does not agree with the Lender about future payment, that is, overdue borrowed money; the Lender has the right to impose upon the penalty interest, and penalty interest rate increases by 50 % of loan interest rate. As for the overdue paid interest, the Lender has the right to impose upon the compound interest based on the penalty interest rate hereof. (2) Loan interest rate adopts the fixed rate, so the penalty interest rate shall be fixed, too. If the loan interest rate uses the fluctuating interest rate, so the penalty interest rate shall be the same, and the fluctuating period shall be the same with the loan interest rate’. (3) The counting method and payment of penalty interest and compound interest shall perform according to the repayment of loan interest hereof.
Sample 1
Penalty Interest and Compound Interest. 1. For the loan overdue or violated use the loan purpose, 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%. Overdue interest bears compound interest with penalty interest rate.
Sample 1
Penalty Interest and Compound Interest. The Borrower shall repay the principal and interest of the loan to the Lender in time according to the repayment plan. Where the Borrower fails to repay the amount due in full before the agreed repayment date, the Lender has the right to collect overdue penalty interest and compound interest from the agreed repayment date, and has the right to deduct the repayable amount directly from any account opened by the Borrower and the Guarantor of joint and several liability in Baosheng County Bank and its branches on the agreed repayment date and at any time thereafter, but this deduction does not constitute the Lender’s obligation.
Sample 1
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Penalty Interest and Compound Interest. 1. If Party B fails to repay the loan as agreed in this Contract, Party A has the right to charge interest at the penalty interest rate for the loan principal that cannot be repaid on time. The number of days to be charged is the actual number of days overdue from the date of overdue loan to the date of actual settlement. The penalty interest rate is 50% more than the loan interest rate. Compound interest shall be charged at the penalty interest rate for the loan interest that cannot be paid on time. 2. If Party B fails to use the loan for the purposes agreed in the Contract, Party A shall have the right to collect interest on the loan principal not used for the agreed purpose at the default interest rate. The collections days shall be from the day when Party B misappropriates the loan to the actual settlement date. The penalty interest rate is plus 100% on the basis of the loan interest rate, and a compound interest shall be collected according to the default interest rate for the interest that cannot be paid on time. 3. When the loan interest rate of the Contract is adjusted, the penalty interest rate shall be adjusted accordingly, which shall be applied at the same time as the loan interest rate and calculated in sections. If a loan is overdue and not used for the purpose specified in the Contract, the default interest rate shall be calculated at the one whichever is higher.
Sample 1
Penalty Interest and Compound Interest. (1) If the borrower cannot return the loan fund of relevant amount on the payment date appointed in the agreement, the penalty interest will be collected for the overdue part as per the overdue penalty interest as of the overdue date until the loan fund and interest are paid off. The overdue penalty interest rate is 130% of the loan interest appointed in Article 7.1 (1) of this agreement. (2) If the borrower cannot use the loan capital as per the usage stated in Article 5 of this agreement, the penalty interest will be collected for the used part as per the penalty interest rate as of the using date until the loan fund and interest are paid off. The used penalty interest rate is 150% of the loan interest appointed in Article 7.1 (1) of this agreement. (3) For the overdue loan fund used, the penalty interest will be calculated as per the used penalty interest rate. (4) The loan interest which cannot be paid by the borrower will be collected for compound interest as per the loan interest rate stated in Article 7.1 (1) of this agreement. The compound interest will be collected for the overdue loan as per the penalty interest rate stated in the agreement. (5) If the loan interest rate is changed when penalty interest and compound interest are collected, the penalty and compound interest can be calculated as per the loan interest rate after adjustment as of the adjustment date of interest rate.
Sample 1

Related to Penalty Interest and Compound Interest

  • Penalty Interest (1) If the loan is overdue or not used for the purpose specified in the contract, from the date of overdue or misappropriation, the penalty interest shall be calculated and collected according to the penalty interest rate specified in this paragraph for the overdue or misappropriated part until the principal and interest are paid off. For overdue and misappropriated loans, the penalty interest shall be calculated and charged at higher penalty interest rate. (2) For the interest and penalty interest that cannot be paid on time by the borrower, compound interest shall be calculated and collected by the interest settlement method described in paragraph 3 of this article. (3) Penalty interest rate Penalty Interest Rate of the Floating Rate Loan A. The interest rate shall float according to the floating period specified in this article from the date of overdue or misappropriation. B. The penalty interest rate of overdue loan is 50% higher than the penalty interest base rate determined in item C of this article, and the penalty interest rate of misappropriated loan is 100% higher than the penalty interest base rate. C. In the first floating cycle of the loan, the penalty prime rate is the actual current interest rate in the cycle when overdue or misappropriation occurs. At the end of each cycle, the penalty interest prime rate of the next floating cycle will be adjusted on the repricing date by using the method specified in paragraph 1 of this article.

  • Payment and Interest The amount determined payable pursuant to the decision, less any portion already paid, normally should be paid without awaiting Contractor action concerning appeal. Such payments shall be without prejudice to the rights of either party. Interest on amounts ultimately determined to be due to a Contractor shall be payable at the Statutory rate applicable to judgments against the State under Chapter 662, HRS from the date of receipt of a properly certified final written statement of actual adjustment required until the date of decision; except, however, that if an action is initiated in circuit court, interest under this Section 7.25, DISPUTES AND CLAIMS (§3-126-31 HAR) shall only be calculated until the time such action is initiated. Interest on amounts due the Department from the Contractor shall be payable at the same rate from the date of issuance of the Project Manager’s notice to the Contractor. Where such payments are required to be returned by a subsequent decision, interest on such payments shall be paid at the statutory rate from the date of payment.

  • Interest and Late Charges If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall bear interest at the maximum rate then allowed by law. Tenant acknowledges that the late payment of any Monthly Installment of Base Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including without limitation, administrative and collection costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Therefore, in addition to interest, if any such installment is not received by Landlord within ten (10) days from the date it is due, Tenant shall pay Landlord a late charge equal to ten percent (10%) of such installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by Tenant. Acceptance of any interest or late charge shall not constitute a waiver of Tenant's default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease.

  • Notification of Rate of Interest and Interest Amounts The Principal Paying Agent will cause the Rate of Interest and each Interest Amount for each Interest Period and the relevant Interest Payment Date to be notified to the Issuer and any stock exchange on which the relevant Floating Rate Notes or Index Linked Interest Notes are for the time being listed and notice thereof to be published in accordance with Condition 15 as soon as possible after their determination but in no event later than the fourth London Business Day thereafter. Each Interest Amount and Interest Payment Date so notified may subsequently be amended (or appropriate alternative arrangements made by way of adjustment) without prior notice in the event of an extension or shortening of the Interest Period. Any such amendment will be promptly notified to each stock exchange on which the relevant Floating Rate Notes or Index Linked Interest Notes are for the time being listed and to the Noteholders in accordance with Condition 15. For the purposes of this paragraph, the expression “

  • Liability for Uncollected Tax, Interest and Penalty If the Providing Party has not received an exemption certificate from the Purchasing Party and the Providing Party fails to xxxx the Purchasing Party for any Tax as required by Section 41.1, then, as between the Providing Party and the Purchasing Party, (a) the Purchasing Party shall remain liable for such unbilled Tax and (b) the Providing Party shall be liable for any interest assessed thereon and any penalty assessed with respect to such unbilled Tax by such authority. If the Providing Party properly bills the Purchasing Party for any Tax but the Purchasing Party fails to remit such Tax to the Providing Party as required by Section 41.1, then, as between the Providing Party and the Purchasing Party, the Purchasing Party shall be liable for such uncollected Tax and any interest assessed thereon, as well as any penalty assessed with respect to such uncollected Tax by the applicable taxing authority. If the Providing Party does not collect any Tax as required by Section 41.1 because the Purchasing Party has provided such Providing Party with an exemption certificate that is later found to be inadequate by a taxing authority, then, as between the Providing Party and the Purchasing Party, the Purchasing Party shall be liable for such uncollected Tax and any interest assessed thereon, as well as any penalty assessed with respect to such uncollected Tax by the applicable taxing authority. If the Purchasing Party fails to pay the Receipts Tax as required by Section 41.2, then, as between the Providing Party and the Purchasing Party, (x) the Providing Party shall be liable for any Tax imposed on its receipts and (y) the Purchasing Party shall be liable for any interest assessed thereon and any penalty assessed upon the Providing Party with respect to such Tax by such authority. If the Purchasing Party fails to impose and/or collect any Tax from Subscribers as required by Section 41.3, then, as between the Providing Party and the Purchasing Party, the Purchasing Party shall remain liable for such uncollected Tax and any interest assessed thereon, as well as any penalty assessed with respect to such uncollected Tax by the applicable taxing authority. With respect to any Tax that the Purchasing Party has agreed to pay, or is required to impose on and/or collect from Subscribers, the Purchasing Party agrees to indemnify and hold the Providing Party harmless on an after-tax basis for any costs incurred by the Providing Party as a result of actions taken by the applicable taxing authority to recover the Tax from the Providing Party due to the failure of the Purchasing Party to timely pay, or collect and timely remit, such Tax to such authority. In the event either Party is audited by a taxing authority, the other Party agrees to cooperate fully with the Party being audited in order to respond to any audit inquiries in a proper and timely manner so that the audit and/or any resulting controversy may be resolved expeditiously.

  • Interest and Interest Rates The rate or rates at which the Notes shall bear interest, the date or dates from which such interest shall accrue, the interest payment dates on which any such interest shall be payable and the regular record date for any interest payable on any interest payment date, in each case, shall be as set forth in the form of Note set forth as Exhibit A hereto.

  • Deferred Interest The amount by which the interest due on a Mortgage exceeds the borrower’s monthly payment, which amount is added to the unpaid principal balance of the Mortgage.

  • ASSIGNMENT OF RIGHTS, TITLE, INTEREST AND BENEFITS The Purchaser shall not without the written consent of the Assignee/Bank, Developer/Proprietor (if applicable) and/or the relevant authorities be entitled to assign his rights, title, interest and benefits under the contract of sale made pursuant hereto or the principal Sale and Purchase Agreement entered between the Developer/Proprietor and the original Purchaser before the Property has been duly assigned or transferred to him by the Assignee/Bank. The Assignee/Bank’s decision to grant the consent or otherwise shall be in its absolute discretion and shall not be questioned.

  • Interest and Payments The rate at which the Notes shall bear interest shall be 87/8%. With respect to the Series A Notes, interest shall accrue from the date hereof. With respect to the Series B Notes, the date from which interest shall accrue shall be the date on which interest was most recently paid on the Series A Notes, or if there has been no Interest Payment Date relating to the Series A Notes prior to the issuance of the Series B Notes, interest shall accrue from the date hereof. The Interest Payment Dates for the Notes on which interest will be payable shall be April 1 and October 1 of each year, beginning October 1, 2001; the Regular Record Dates for the interest payable on the Notes on any Interest Payment Date shall be March 15 with respect to the April 1 Interest Payment Date and September 15 with respect to the October 1 Interest Payment Date. Interest on overdue principal and premium, if any, from time to time, shall be at a rate of 2% per annum in excess of the rate then in effect; interest on overdue installments of interest and Special Interest, if any, from time to time, shall be at the same rate, to the extent lawful; and the basis upon which interest shall be calculated shall be that of a 360-day year consisting of twelve 30-day months. The place where the principal of (and premium, if any) and interest, including, Special Interest, if any, with respect to and interest on the Notes shall be payable and the Notes may be surrendered for the registration of transfer or exchange shall be the Corporate Trust Office of the Trustee which, as of this writing, is located at 100 Wall Street, 20th Floor New York, New York 10005, Attention: Corpoxxxx Xxxxx Xxxxxxxxxxxxxx. Xxx xxxxx xxxxx xxxxxxx xr demands to or upon the Company in respect of the Notes and this Sixth Supplemental Indenture may be served shall be the Corporate Trust Office of the Trustee. In addition, payment of interest (including any Special Interest) on any Note may, at the option of the Company, be made by check mailed to the address of the Person in whose name the Note is registered at the close of business on the Regular Payment Date; provided, however, that all payments of principal, and premium (including Special Interest, if any), if any, and interest on the Notes to Holders of which have given wire instructions to the Company or the Paying Agent at least 10 Business Days prior to the applicable payment date shall be made by wire transfer to an account maintained by such Holder entitled thereto as specified by such Holder in the instructions.

  • Distributions and Interest Amount (i) Interest Rate. "Interest Rate" for any day means, the Federal Funds Overnight Rate. For the purposes hereof, "Federal Funds Overnight Rate" means, for any day, an interest rate per annum equal to the rate published as the Federal Funds Effective Rate that appears on Telerate Page 118 for such day.

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