Arrears Interest definition

Arrears Interest with respect of any arrears whatsoever in payment, i.e.: interest at the maximum rate of interest customary during the period of arrears at Bank Hapoalim for overdraft facilities above and beyond approved credit framework in shekel debit accounts.

Arrears Interest. As this term is defined in clause 5.1 of the Conditions Recorded in the Overleaf.

Arrears Interest. As defined hereunder in clause 5.1;

Examples of Arrears Interest in a sentence

• The Company hereby covenants to pay all sums of the Principal and the interest and the linkage differentials payable pursuant to the Bond conditions (including Arrears Interest, if and to the extent that any shall apply), to the extent payable, and to fulfill all other conditions and obligations imposed on it pursuant to the Bond conditions and pursuant to This Deed.

• In this regard, the Arrears Interest rate shall be the maximum interest rate that shall be customary at that time at Bank Leumi le-Israel Ltd.

• In the event that Arrears Interest is paid, the Company shall give immediate notice of the Arrears Interest rate and the interest rate to be paid, which includes the interest bearing on the Debentures together with the Arrears Interest, and of the payment date of the total interest for such period, at least two (2) Trading Days prior to such payment.

• Notwithstanding the foregoing, to the extent the Company pays the Amount in Arrears within seven (7) days of the date it was required to make such payment, then the Amount in Arrears shall not accrue Arrears Interest during such seven days.

• In the event that Seller or the Controlling Shareholders shall fail to pay any sum which any one of them is liable to pay Seller under the provisions of this Agreement, on the date fixed therefor, then in such a case Buyer and the Controlling Shareholders shall be liable to pay Seller Arrears Interest, in addition to V.A.T. as set out in the law, on the amount in arrears, at the rate charged at that time by Bank Leumi Le'Israel Ltd.

More Definitions of Arrears Interest

Arrears Interest. The Interest plus 3% annually. The arrears interest shall be added to the principal at the end of every six months.

Arrears Interest means the Interest plus an additional margin of 2.3% (Two percent and Three Decimal of a Percent) per year. Entries - Shall mean any entry or copy thereof which preserves information regarding or with respect to activity in the Account, whether recorded or copied by way of printing, duplication, electronic imaging, photographing (including microfilm), and whether recorded or copied by means of any mechanical, electrical or electronic machine or any technology which preserves the information regarding or in connection with activity in the Account, and any output, computer material which is information and electronic messages containing the Account information or notices of the Facility Agent regarding the Account, which were created by computer entry means, as "output," "computer material" (which is information) and "computer" are defined in the Computers Law, 5755-1995, and a paper printout of the contents of a computer file, or any entry by any other means of entry or presentation of words or digits or other symbols which the Facility Agent ordinarily uses or is aided by in its entries. General License - Shall mean the General License for the Provision of Domestic Fixed-Line Telecommunication Services which was granted to Bezeq, in accordance with the Communications Law. Licenses - Shall mean the General License and Additional Licenses.

Arrears Interest shall have the meaning ascribed thereto under Section ‎2.7.2 below.

Arrears Interest. Arrears interest to be paid according to the provisions of clause 20 of this Agreement.

Arrears Interest. The highest rate of interest that is determined from time to time at Bank Leumi Le-Israel Ltd. with respect to excessive credit utilization in customer accounts that are over the approved credit ceiling. To remove all doubt, it is hereby clarified that, as prescribed by law, value-added tax shall be added to each payment in accordance with the provisions of this Agreement.

Arrears Interest. Arrears interest to be paid according to the provisions of clause 14.5 of this Agreement.

Arrears Interest. Daily interest at the maximum rate applied by the bank to current debitory accounts that have exceeded their overdraft limit.