INTEREST ON LATE PAYMENTS definition

INTEREST ON LATE PAYMENTS. On invoices for fees or reimbursements for which payment is not received within thirty (30) days of invoice date, you agree to pay us simple interest, computed monthly, at one and one-half percent (1 1/2 percent) over the prime rate of interest in effect at Chase Manhattan Bank, in New York City, on the undisputed amount outstanding at the end of such 45-day period, until such payment is received. In the event of a disputed charge, you shall notify us in writing of the disputed amount and reason for the dispute, and you agree to pay all undisputed amounts owed while the dispute is under negotiation.
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INTEREST ON LATE PAYMENTS. If any amount payable on any of Borrowers Liabilities is not paid in full when due and provided an Event of Default has not occurred, Borrower with interest on such delinquent payment, from its due date until it is paid in full, at the same rate as then payable on the latest Advance made grower hereunder prior to such delinquency or at such rate as is otherwise agreed to by EAB in writing.
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INTEREST ON LATE PAYMENTS. Interest payable on any overdue amounts under this CONFIDENTIALITY: Confidential information (the "Confidential Information") refers to any data or information relating to the business of the Client which would reasonably be considered to be proprietary to the Client including, but not limited to, accounting records, business processes, and client records and that is not generally known in the industry of the Client and RETURN OF PROPERTY: Upon the expiration or termination of this Agreement, the
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Examples of INTEREST ON LATE PAYMENTS in a sentence

  • FOR ANY PAYMENTS TEN DAYS OR MORE OVERDUE, REGISTRY OPERATOR SHALL PAY INTEREST ON LATE PAYMENTS AT THE RATE OF 1.5% PER MONTH OR, IF LESS, THE MAXIMUM RATE PERMITTED BY APPLICABLE LAW.

  • PAYMENTS AND INTEREST ON LATE PAYMENTS: Payment may only be made after the delivery and acceptance of goods or services.

  • CONTRACTUAL PENALTIES, INTEREST ON LATE PAYMENTS, DAMAGES In the event that the Contractor violates the obligation to remove the Error or Unavailability within the Time for removal stipulated in Art.

  • IF CLIENT FAIL TO MAKE TIMELY PAYMENTS OF ANY MONIES OWING TO MACKINAW ADMINISTRATORS, L.L.C. WHETHER FOR CLAIMS SETTLEMENTS, ALLOCATED LOSS ADJUSTMENT EXPENSE OR FEES FOR SERVICES RENDERED, WE WILL HAVE THE RIGHT TO CHARGE CLIENT INTEREST ON LATE PAYMENTS OF ONE (1%) PERCENT PER MONTH ON THE BALANCE.

  • In the event funds are not appropriated or otherwise available for these services or goods, this Purchase Order Contract becomes void and of no effect after June 30.9. PAYMENTS AND INTEREST ON LATE PAYMENTS: Payment may only be made after the delivery and acceptance of goods or services.

  • FOR ANY PAYMENTS TEN DAYS OR MORE OVERDUE, REGISTRY SHALL PAY INTEREST ON LATE PAYMENTS AT THE RATE OF 1.5% PER MONTH OR, IF LESS, THE MAXIMUM RATE PERMITTED BY APPLICABLE LAW.

  • Article Item TITLE 7‌‌‌‌ INTEREST ON LATE PAYMENTS CHAPTER 7 0 — INTEREST ON LATE PAYMENTS 7 0 0 Interest on late payments 7 0 0 0 Interest due on late payments into the accounts held with the treasuries of the Member States Legal basis Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council of 25 October 2012 on the financial rules applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/ 2002 (OJ L 298, 26.10.2012, p.

  • INTEREST ON LATE PAYMENTS: _________________% per annum above the Interest Rate.

  • Substitute Teachers: $150.00/day Substitute Teacher Aides: $105.00/day Substitute Clerical: $ 20.00/hr Substitute Custodial I: $ 20.00/hr.

  • PAYMENT BY THE STATE / INTEREST ON LATE PAYMENTS: Payments to the Contractor shall generally be made within thirty (30) days of receipt by the State of an accurate invoice and receipt in Finance of the responsible State Project Manager’s certification of acceptable completion of work, presuming receipt by the State of a correct, detailed invoice from the Contractor.


More Definitions of INTEREST ON LATE PAYMENTS

INTEREST ON LATE PAYMENTS. The College shall make every reasonable effort to remit payment as required by this Service Agreement within thirty (30) days of its receipt of an invoice from the Contractor, if services have been fully rendered. However, the College shall not be held responsible for any late fees or interest resulting from delays in its remitting payment to the Contractor. INSTRUCTION FOR PREPARATION This form will be used in contracting for professional services with any individual, private company, or governmental agency. The appropriate xxxx, director, coordinator or other supervisor contracting for professional services will prepare this agreement in duplicate and forward both copies to the Office of Business and Finance. Items I thru IV will be completed prior to forwarding to the Office of Business and Finance. Item I, A must be completed fully, describing all services to be furnished, including any supplies and required reports. The rate of pay specified in item I, B includes all expenses of the contractor, including travel and subsistence. Official Course Number must be entered in Item I, D for Continuing Education Courses. Contractor’s federal identification number must be entered in the appropriate space in Section IV, A. All companies or business required to report employment taxes or give tax statements to employees are required to have a federal identification number. This is normally a (9) digit number starting with “56” and is listed as “56-XXXXXXX”. To obtain certificate of authority: write Secretary of State, Corporation Division, 000 X. Xxxxxxxxx Street, Raleigh, NC 00000-0000 or fax a form request to (000) 000-0000. Persons with INTERNET access may download the form from the Secretary of State’s website, xxxx://xxx.xxxxx.xx.xx/secstate/. This questionnaire must be completed to determine if an individual is eligible to be an independent contractor and must be submitted to the Office of Business and Finance before any service is performed. All available information will be evaluated in the determination of status. You will be notified of the
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Related to INTEREST ON LATE PAYMENTS

  • Late Payment Rate As defined in the Insurance Agreement.

  • Late Payment Fee means the excess of the Price Differential paid as a result of its calculation at the Post-Default Rate over the Price Differential as would have been calculated at the Pricing Rate.

  • Late Payment means any amount that is due and payable by law under a written procurement contract, without deferral, delay, or set-off under COMAR 21.02.07.03, and remains unpaid more than 45 days after an agency receives a Proper Invoice.

  • Interest-Only Period means the period from and including the first Borrowing Date and through and including the sixteenth (16th) Payment Date following the first Borrowing Date.

  • Interest Only Loan means a Mortgage Loan which only requires payments of interest for a period of time specified in the related Mortgage Note.

  • Late Payment Surcharge shall have the meaning ascribed thereto in Article 10.3.3 of this Agreement;

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Late Payment Interest means and refer to interest on a particular Late Payment at the Default Rate.

  • Cash Interest Rate means the Federal Funds Effective Rate - the rate for that day opposite the caption “Federal Funds (Effective)” as set forth in the weekly statistical release designated as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System.

  • Overdue Interest Rate means, with respect to any Class, the Interest Rate applicable to such Class.

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Interest Differential is defined in Section 3.4.

  • Adjusted Actual/360 Accrued Interest Amount with respect to any REMIC I Regular Interest referred to in clause (B) of the second sentence of the prior paragraph, for any Interest Accrual Period, is an amount of interest equal to the product of (a) the Net Mortgage Rate then in effect (including as a result of any step-up provision) for the related Mortgage Loan under the original terms of such Mortgage Loan in effect as of the Closing Date (without regard to any modifications, extensions, waivers or amendments of such Mortgage Loan subsequent to the Closing Date, whether entered into by the Master Servicer or the Special Servicer or in connection with any bankruptcy, insolvency or other similar proceeding involving the related Borrower), multiplied by (b) a fraction, the numerator of which is the number of days in such Interest Accrual Period, and the denominator of which is 360, multiplied by (c) the Uncertificated Principal Balance of such REMIC I Regular Interest immediately prior to the Distribution Date that corresponds to such Interest Accrual Period; provided that, if the subject Interest Accrual Period occurs during (x) December of any year that does not immediately precede a leap year or (y) January of any year, then the amount of interest calculated with respect to the subject REMIC I Regular Interest pursuant to this definition for such Interest Accrual Period without regard to this proviso shall be decreased by the Interest Reserve Amount, if any (and the fraction described in clause (B) of the second sentence of the preceding paragraph shall be adjusted accordingly), with respect to the related Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) transferred, in accordance with Section 3.04(c), from the Distribution Account to the Interest Reserve Account on the Master Servicer Remittance Date that occurs immediately following the end of such Interest Accrual Period; and provided, further, that, if the subject Interest Accrual Period occurs during February of any year (or during any December or January preceding the month of the Final Distribution Date), then the amount of interest calculated with respect to the subject REMIC I Regular Interest pursuant to this definition for such Interest Accrual Period without regard to this proviso shall be increased by the Interest Reserve Amount(s), if any (and the fraction described in clause (B) of the second sentence of the preceding paragraph shall be adjusted accordingly), with respect to the related Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) transferred, in accordance with Section 3.05(c), from the Interest Reserve Account to the Distribution Account on the Master Servicer Remittance Date that occurs immediately following the end of such Interest Accrual Period.

  • Annual Interest Rate in accordance with the rate applicable to the equal instalment financing plan in effect on the conversion date, up to a maximum of 19.90%.

  • Accrued Interest means, with respect to Single Family Shared-Loss Loans, the amount of earned and unpaid interest at the note rate specified in the applicable loan documents, limited to 90 days.

  • Late Payment Charge means the charge that is applied when either Party fails to remit payment for any charges by the Bill Due Date, or if payment for any portion of the charges is received after the Bill Due Date, or if payment for any portion of the charges is received in funds which are not immediately available or received by either Party as of the Bill Due Date, or if either Party does not submit the Remittance Information.

  • Reference Interest Rate means the following rate (expressed as a percentage rate per annum) for deposits in the currency of the Strike Price: the Reference Interest Rate specified in the Table which has been published on the screen page specified in the Table (the "Screen

  • Default Interest means interest chargeable in terms of this Agreement to unpaid amounts or outstanding obligations which interest shall be calculated, from the due date until date of payment, on a daily balance and compounded monthly in arrear at an annual rate of two percent (2%) above the prevailing, variable prime rate publicly quoted by ABSA Bank Limited from time to time.

  • Overdue Payment shall have the meaning specified in Section 4.03(a).

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • additional rate means the additional rate levied by the City of Cape Town on rateable properties within the designated boundaries of the Special Rating Area for purposes of raising funds for improving and upgrading that area, subject to any exemptions or permissible differentiation between categories of property, as contemplated in section 22(1) of the Rates Act, read with sections 8(1) and 12(2) of the By-Law;

  • Maximum Uncertificated Accrued Interest Deferral Amount With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC 2 Pass-Through Rate applicable to REMIC 2 Regular Interest LTZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC 2 Regular Interest LTZZ minus the REMIC 2 Overcollateralization Amount, in each case for such Distribution Date, over (b) the sum of the Uncertificated Accrued Interest on REMIC 2 Regular Interest LTAV1, REMIC 2 Regular Interest LTAV2, REMIC 2 Regular Interest LTAV3, REMIC 2 Regular Interest LTAF1, REMIC 2 Regular Interest LTAF2, REMIC 2 Regular Interest LTAF3, REMIC 2 Regular Interest LTAF4, REMIC 2 Regular Interest LTAF5, REMIC 2 Regular Interest LTAF6, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8 and REMIC 2 Regular Interest LTM9, with the rate on each such REMIC 2 Regular Interest subject to a cap equal to the Pass-Through Rate for the related Corresponding Certificate for the purpose of this calculation; provided, however, that for this purpose, calculations of the Uncertificated REMIC 2 Pass-Through Rate and the related caps with respect to each such REMIC 2 Regular Interest for which the Corresponding Certificate is a Group I Certificate shall be multiplied by a fraction, the numerator of which is the actual number of days elapsed in the related Interest Period and the denominator of which is 30.

  • Compounded Interest shall have the meaning set forth in Section 4.1.

  • Adjusted Interest Rate is defined in Section 1.2(e).

  • Audit fees means the aggregate fees billed in each of the fiscal years listed for professional services rendered by our principal auditors for the audit of our annual financial statements.