Rights to Interest Sample Clauses
The 'Rights to Interest' clause establishes a party's entitlement to receive interest on certain amounts, typically those that are overdue or unpaid under the agreement. In practice, this clause specifies the conditions under which interest accrues, such as late payments, and may detail the applicable interest rate or calculation method. Its core function is to incentivize timely payments and compensate the owed party for the time value of money lost due to delays, thereby reducing the risk of late payment and ensuring fairness in financial transactions.
Rights to Interest. Subject to the provisions set forth herein relating to Record Dates and record dates for the payment of any defaulted interest, each Security delivered pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of, any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.
Rights to Interest. 14 SECTION 2.08. Temporary Securities....................................... 14 ARTICLE THREE ISSUE OF SECURITIES SECTION 3.01. Authentication, Delivery and Dating........................ 15
Rights to Interest. Bank (through any of its officers, employees, or --- ------------------ agents) shall have the right, upon reasonable prior notice, from time to time during Borrower's usual business hours, to inspect Borrower's books and to make copies thereof and to check, test, and appraise the Collateral in order to verify Borrower's financial condition or the amount, condition of, or any other matter relating to, the Collateral.
Rights to Interest. 15 SECTION 2.08. Temporary Securities......................................... 16 ARTICLE THREE