Contract interest definition

Contract interest means interest that an obligor has paid or agreed to pay to a creditor under a written contract of the parties. The term does not include judgment interest.
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Contract interest has the meaning specified in Section 2.4.
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Contract interest means conventional interest, whether or not denominated as interest, that an obligor has agreed to pay to a creditor.
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Examples of Contract interest in a sentence

  • Any payments or portions thereof due hereunder which are not paid when due will bear interest at the Contract Interest Rate, compounded annually, calculated on the number of days such payment is delinquent.

  • If amounts disputed have been paid by Owner are later resolved in favor of Owner, Contractor shall refund any such payment and pay interest on such payment at the Contract Interest Rate, from the date on which the payment was originally made by Owner until such refunded payment is received by Owner.

  • On each Payment Date during the Funding Period, amounts on deposit in the Capitalized Interest Account will be required to be transferred to the Remittance Account to the extent the aggregate amount of Contract Interest for the related Remittance Period is insufficient to fund the full amount of the Certificate Interest and Servicer Fee payable on such Payment Date.

  • If a Contractor’s Invoice was properly submitted in accordance with all of the provisions of this Agreement and amounts disputed by Owner in regards to such invoice are later resolved in favor of Contractor, Owner shall pay interest on such disputed amounts due to Contractor at the Contract Interest Rate, from the date on which the payment was originally due pursuant to such invoice until the date such payment was received by Contractor.

  • The Contract, unless it is a Step-up Rate Contract or an Adjustable Rate Home Equity Contract, has a fixed Contract Interest Rate and provides for monthly payments (except, in the case of a Balloon Loan, for the final monthly payment of such loan) which fully amortize the loan over its term.

  • The Contract has a fixed Contract Interest Rate and provides for level monthly payments which fully amortize the loan over its term.

  • All Contract Interest Rate adjustments have been made in strict compliance with state and federal law and the terms of the related Contract.

  • Whenever, subsequent to the date of this Agreement, the Base Rate is increased or decreased, the applicable Contract Interest Rate for Domestic Rate Loans shall be similarly changed without notice or demand of any kind by an amount equal to the amount of such change in the Base Rate during the time such change or changes remain in effect.

  • All disbursements or payments related to Letters of Credit shall be deemed to be Domestic Rate Loans consisting of Revolving Advances and shall bear interest at the Contract Interest Rate for Domestic Rate Loans.

  • The weighted average (by Scheduled Principal Balance) of the Contract Interest Rates of the Fixed Rate Home Equity Contracts as of the Post-Funding Payment Date will not be more than 25 basis points less than the weighted average of the Contract Interest Rates of the Initial Fixed Rate Home Equity Contracts.


More Definitions of Contract interest

Contract interest means, respectively as to each Major Contract, the undivided interest in, to and under such Major Contract which is specified in the Property Schedule.
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Related to Contract interest

  • Working Interest means an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense.

  • Leasehold interest means the interest of the lessor or the lessee under a lease contract.

  • Proprietary Interest means any legal, equitable or other ownership, whether through stock holding or otherwise, of an interest in a business, firm or entity; provided, that ownership of less than 5% of any class of equity interest in a publicly held company shall not be deemed a Proprietary Interest.

  • Contract Area means, on the Effective Date, the area described in Appendix-A and delineated on the map attached as Appendix B or any portion of the said area remaining after relinquishment or surrender from time to time pursuant to the terms of this Contract (including any additional area as provided under Article 11.3).

  • Royalty Interest is defined in Section 1.01.

  • Working interest owner means a person or the estate of a person who owns an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense. “Working interest owner” does not include an unleased mineral owner.