Compensatory Interest definition

Compensatory Interest means the interest that is due and payable at the Compensatory Interest Rate in accordance with Condition 22.6;

Compensatory Interest means any AP Compensatory Interest and/or VP Compensatory Interest (as applicable);

Compensatory Interest has the meaning set forth in Section 16 hereof.

Examples of Compensatory Interest in a sentence

• As long as BORROWER continues to be in Default LENDER shall be entitled to receive compensatory interest at the Interest Rate plus Late-Payment Interest equal to *** of the Compensatory Interest rate.

• Any payments received by you from us under the Scheme will be treated as being applied first towards: (i) in the case of a Borrower, interest paid by the Borrower under the Loan, before being applied towards Compensatory Interest on those amounts; and (ii) in the case of a Guarantor, all principal and interest paid by the Guarantor, before being applied towards Compensatory Interest on those amounts.

• Compensatory Interest Interest at rate of 8% per annum to be applied to a Gross Scheme Liability (that is agreed or otherwise determined, in accordance with this Scheme, to be owed by the Company to a Scheme Creditor), from the date of Loan or the payment of the Guarantee (as applicable) to the Implementation Date.

• This data is summarized in the Private Equity Performance Monitor 2006 (Private Equity Intelligence, 2006), which we use to benchmark the performance of our sample funds.

• Using a bull that is infertile or that has structural problems will frequently result in a higher percentage of open cows.

More Definitions of Compensatory Interest

Compensatory Interest means any CP Compensatory Interest, OP Compensatory Interest and/or T&S Compensatory Interest (as applicable);

Compensatory Interest. As defined in Section 7.2(a).

Compensatory Interest means interest in accordance with Article 229 (3) of the Code calculated in accordance with Point 295.

Compensatory Interest means the annual interest of 15 (fifteen) per cent payable by the Borrower on any amounts not repaid timely as compensation for failure to fulfil the relevant obligation for the time period from the date of lodging of a claim with court until the date the relevant obligations are fulfilled in full.

Compensatory Interest shall have the meaning set forth in Section 5.12.

Compensatory Interest. Interest due to the contractor at the ruling rate of interest on amounts certified after thirty-one (31) calendar days of the date of practical completion, compounded monthly until the date of payment DEFAULT INTEREST: Interest at six (6) percentage points per annum above the ruling rate of interest where payment has not been received within the stipulated period, compounded monthly from the due date for payment until the date of payment INTEREST: The bank rate applicable from time to time to registered banks borrowing money from the Central or Reserve Bank of the country [CD]. The ruling bank rate on the first calendar day of each month shall be used in calculating the interest due for such month The bank rate referred to in the definition of interest is determined by the Reserve Bank’s Monetary Policy Committee (MPC) every two months (six times a year) and it is the rate at which commercial banks would borrow money from the Reserve Bank. During their meetings they analyse a considerable amount of economic information and then decide whether the rate (known as the repo rate) should go up, go down or stay constant Uncertainty in the past has often existed between consultants and (sub)contractors on whether the repo rate or prime lending (overdraft) bank rate should be used. The overdraft rate is not ‘fixed’, banks generally add three-and-a-half percent (3.5%) on top of the repo rate, but will adjust this rate depending on the financial status of the client or type of transaction in question. This is then typically expressed as an ‘overdraft rate plus (or minus) a certain percentage’. The overdraft rate is therefore not suitable to be used In order to make the repo rate a ‘punishable’ rate six (6) percentage points on top of the repo rate is added in the case of default interest (see definition) to make it a truly ‘punishable’ rate when employers/contractors fail to make payments by the due date to contractors/ subcontractors After remaining at 15.5% for 21 years (since 1993) the Prescribed Rate of Interest (‘xxxx interest’) was changed to 9% as of August 2014. At the time of drafting and final date of publishing Edition 6.1 (March 2014) the 15.5% rate applied and was found to be a sufficiently ‘punishable’ rate when employers/ contractors make an unjustified call on a security. However, because of the drastic lowering of the rate to 9% this was no longer the case and it was, therefore, decided to remove the application of the xxxx interest rate in Edition ...

Compensatory Interest has the meaning established in item 5.2.2;