Past Due Interest definition

Past Due Interest means with reference to any Funding Period Settlement Date, any portion of the Funding Period Interest originally due on a previous Funding Period Settlement Date that remains outstanding on the current Funding Period Settlement Date.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Past Due Interest means the past due interest due by the Client to PGPB in accordance to each one of the Purchase/Sale Contracts and in accordance wit this Contract.

Past Due Interest failure by Purchaser to make payments in due time and proper form shall give rise to past due interests payable thereby to accrue. Those past due interests that shall be computed over past due outstanding balances, beginning on maturity date and continuing during all time the debt due and payable remains outstanding and up until paid in full;

Examples of Past Due Interest in a sentence

• All overdue amounts shall bear interest at a rate equal to the lower of: (i) ten percent (10%) per annum or (ii) the highest rate permitted by law ("Past Due Interest").

• Concessionaire shall continue to be liable for all amounts due as under this Agreement on the dates specified plus interest thereon at the Past Due Interest Rate together with such amounts as would be payable, including costs, attorney's fees, repairs, and improvements.

• Any payments not made to City when due shall accrue interest at the Past Due Interest Rate, as herein defined.

• Lender is willing to presently provide a waiver and forbear from exercising its rights and remedies to collect the Past Due Interest, on the terms and subject to the conditions contained in this Agreement.

• Any bills by the City for such costs shall be due within thirty (30) days and shall accrue interest at the Past Due Interest Rate if not paid when due.

• The payments referred to in this Clause will apply in the first place to the Past Due Interest (should there be any) and secondly to the Adjustments per Coverage.

• The foregoing requirement of Concessionaire to pay for certain audits notwithstanding, if, after any audit by any duly authorized representative, including any outside party or firm engaged by the City to conduct audits on its behalf, it is determined for any year that the Gross Revenues and business transacted shown by Concessionaire's statement for such year were understated, Concessionaire forthwith shall pay the amount of the deficiency plus interest at the Past Due Interest Rate.

• If an audit reveals that Concessionaire has understated its Gross Revenues by more than 1% in two of any six months of an audited period of no more than twelve months prior to the date of the audit, the entire expense of the audit shall be paid for by Concessionaire; Concessionaire shall pay the Past Due Amount to City, plus interest at the Past Due Interest Rate, plus the cost of the audit all within 30 calendar days of the City’s invoice.

• If the application of such sums is sufficient to cure the Material Breach, including Past Due Interest owed to date of draw, then the Material Breach shall be deemed cured and Ryder shall not terminate this Agreement due to such Material Breach; if the application of such sums is not sufficient for such purpose, then Ryder may terminate this Agreement due to the Material Breach pursuant to Section 13A.

• Any bills by the City for such costs shall be due within 30 days and shall accrue interest at the Past Due Interest Rate if not paid when due.

More Definitions of Past Due Interest

Past Due Interest as defined in subsection 2.1(b).

Past Due Interest. XX Net Loan Collection Expenses to Date: XX Current P&I Payment: XX Interest Paid to Date: XX Number of Days Past Due: XX Last Amount Received: XX Maturity Date: XX Mortgage Interest Rate: XX Group Number (Sub-Pool Number): XX Servicing Transfer Date: XX Servicing Transfer Type: XX Performing/Non-Performing Status: XX Recourse: XX

Past Due Interest means any interest paid or payable pursuant to Clause 8.4.