Penalty Interest Rate. (1) In the event that the Borrower fails to repay the loan within the agreed time limit, interest shall be calculated and charged over the overdue part at the penalty interest rate for overdue loan from the overdue day, until the principal and interest are paid off;
(2) In the event that the Borrower uses the loan for any purposes other than those agreed herein, interest shall be calculated and charged over the misappropriated part at the penalty interest rate for misappropriated loan from the misappropriation date, until the principal and interest are paid off;
(3) In the event that the loan is overdue and misappropriated, interest shall be calculated and charged at the penalty interest rate for misappropriated loan;
(4) With respect to the interest and penalty interest that the Borrower fails to pay as scheduled, compound interest shall be calculated and charged at the penalty interest rate agreed in this paragraph in the interest settlement method as agreed in Paragraph 2 hereof;
(5) In case of any adjustment to the loan interest rate agreed herein, the penalty interest and compound interest shall be calculated at the adjusted interest rate from the adjustment date;
(6) Penalty Interest Rate The penalty interest rate for overdue loan shall be 50% higher than the loan interest rate agreed in Paragraph 1 hereof; the penalty interest rate for misappropriated loan shall be 100% higher than the loan interest rate agreed in Paragraph 1 hereof.
Penalty Interest Rate. (clause 5) Double the current Official Cash Rate (OCR). See Reserve Bank of New Zealand website
Penalty Interest Rate. (1) If Party A fails to use the loan for the purpose specified herein, the penalty interest rate shall be floated above 100% of the loan interest rate, if the loan rate is adjusted as article 1 (3) described, then the penalty interest rate will be adjusted corresponding to the new loan interest rate and the foresaid floating scope.
(2) The penalty interest for overdue loan hereunder shall be shall be floated above 50% of the loan interest rate, if the loan rate is adjusted as article 1 (3) described, then the penalty interest rate will be adjusted corresponding to the new loan interest rate and the foresaid floating scope.
(3) It depends on the severity for the calculation of the penalty interest and compound interest, if the loan is overdue and embezzled simultaneously.
Penalty Interest Rate. If Party A fails to use the loan according to the contracted purpose, the penalty interest rate shall be 100% above the loan interest rate. The penalty interest rate for overdue loans is 50% above the loan interest rate. At the same time, overdue and misappropriation of loans, it should be recalculated to collect penalty interest and compound interest.
Penalty Interest Rate. 6.1 Should Party A fail to repay the principal and interest under the Contract on time, Party B is entitled to claim penalty interest at a rate 30% upward the current interest rate on any balance of loan used by Party A in breach of this Contract for the days of breach.
6.2 Should Party A fail to use the loan for the purpose as stipulated in the Contract, Party B is entitled to claim penalty interest at a rate 50% upward the current interest rate on any balance of loan used by Party A in breach of this Contract for the days of breach.
Penalty Interest Rate. (1) If the Borrower fails to make due repayment of any Loan Fund under this Agreement, the amount overdue will be charged at an interest rate which is 50% higher than the applicable loan interest rate from the original due date of such amount until its full repayment (the “Overdue Penalty Interest Rate”).
(2) If any Loan Fund is misused by the Borrower, such amount misused will be charged at an interest rate which is 100% higher than the applicable interest rate from the date of occurrence of such misuse until the date of its termination (the “Misuse Penalty Interest Rate”).
(3) If any Loan Fund is overdue and misused, the higher of the Overdue Penalty Interest Rate or the Misuse Penalty Interest Rate will apply.
(4) Any overdue or misused amount will be charged with compound interest pursuant to relevant provisions of the PBOC.
Penalty Interest Rate. (1) In case Party A fails to use the loan consistently with the loan purpose, the penalty interest rate shall be 100% more than the above mentioned 8.1‰ .
(2) In case Party A fails to repay on time, the penalty interest rate shall be 50% more than the above mentioned 8.1‰ .
Penalty Interest Rate. If the Co-borrowers fails to pay any sum payable under this Agreement when due then an additional 1% penalty interest rate shall be levied on all amounts due and unpaid.
Penalty Interest Rate. (i) Should the Debtor become delinquent or incur late payment in respect of any sum due hereunder, whether with regard to principal amount, interest, fees or on any other account, whether at the stated maturity, upon occurrence of a legal or conventional termination event, due to mandatory prepayment or for another reason, or (ii) should any of the Events of Default listed in One) of section Nine below occur, the sums due shall accrue as penalty interest, the TAB rate of the relevant Interest Period plus an applicable margin of three point five percentage points per annum. The Penalty Interest Rate shall apply as from the moment of occurrence of the delay or from the date of commencement of the Event of Default, as applicable, and until actual payment of the sum due or cessation of the Event of Default, as applicable, to the extent that such penalty interest rate does not exceed the conventional maximum interest rate allowed by law for money credit transactions readjustable in legal tender, in which event, the penalty interest
Penalty Interest Rate. 4.3.1 Where the Borrower fails to use the loan according to the purpose of the Loan Contract, the Lender has the right to collect penalty interest, the rate of which is twice the loan interest rate. Where the loan interest rate is adjusted according to Item (2) of Article 4.2.1, the penalty interest rate is twice the adjusted loan interest rate.
4.3.2 Where the loan is overdue under this Contract, the lender has the right to collect penalty interest, which is 1.5 times of the loan interest rate. Where the loan interest rate is adjusted according to Item (2) of Article 4.2.1, the penalty interest rate is 1.5 times of the adjusted loan interest rate.
