Payment of normal interest Sample Clauses
The 'Payment of normal interest' clause establishes the obligation for a party to pay interest at a standard or agreed-upon rate on outstanding amounts due under the contract. Typically, this clause specifies the interest rate, the period over which interest accrues, and the circumstances that trigger such payments, such as late payments or overdue balances. Its core practical function is to compensate the party owed money for the time value of delayed payments and to incentivize timely fulfillment of financial obligations, thereby reducing the risk of late payments.
Payment of normal interest. Subject to the provisions of this Agreement, interest on the Loan in respect of each Interest Period shall be paid by the Borrower on the last day of that Interest Period.
Payment of normal interest. Subject to the provisions of this Agreement, interest on each Advance in respect of each Interest Period relative to that Advance shall be paid by the Borrowers on the last day of that Interest Period.
Payment of normal interest. Subject to the provisions of this Agreement, interest on each Tranche in respect of each Interest Period relative to that Tranche shall be paid by the Borrowers on the last day of that Interest Period.
Payment of normal interest. Subject to Clause 5.3 and the other provisions of this Agreement, interest on each Advance in respect of each Interest Period shall be paid by the Borrowers on the last day of that Interest Period.
Payment of normal interest. Subject to the provisions of this Agreement, interest on each Advance in respect of each Interest Period applicable to it shall be paid by the Borrower on the last day of that Interest Period applicable to it. For the first Interest Period applicable to the Loan, the outstanding principal amount of the Loan on which interest shall accrue and be paid under this Clause 5.1 shall be deemed to be throughout the whole of that Interest Period the same as the outstanding principal amount (immediately prior to the occurrence of the Effective Date) of the Original Loan Agreement Tranche for the Ship.
Payment of normal interest. Subject to the provisions of this Agreement, interest on the Loan or any part thereof in respect of each Interest Period shall be paid by the Borrowers on the last day of that Interest Period, unless the Borrowers shall have selected a 6 or 12 month Interest Period, in which case interest on the Loan or any part thereof shall also be payable quarterly in arrears.
Payment of normal interest. Subject to the provisions of this Agreement, the rate of interest on the Loan shall be 11 per cent. per annum.
Payment of normal interest. Subject to the provisions of this Agreement, interest on:
(a) each Advance; and
(b) the Loan, shall be paid by the Borrower on the Facility Reset Date in respect of (i) the Interest Period in respect of such Advance or the Loan ending on that Facility Reset Date and (ii) each other Interest Period (if any) in respect of such Advance or the Loan commencing on or after the immediately preceding Facility Reset Date.
Payment of normal interest. Subject to the provisions of this Agreement, the Borrowers shall pay interest on the Loan (or as the case may be, each portion thereof to which a different Interest Period relates) in respect of each Interest Period related thereto on each Interest Payment Date.
Payment of normal interest. Subject to the provisions of this Agreement, interest on the Loan shall be due and payable in arrears by the Borrower on each Interest Payment Date and on the Maturity Date. Interest shall be payable by adding the amount thereof on each Interest Payment Date to increase the principal amount of the Loan then outstanding (and any interest so capitalized shall bear interest as provided in this Clause 5 and shall otherwise be treated as principal of the Loan for all purposes of the Finance Documents thereafter); provided, however, that notwithstanding the foregoing, all accrued and unpaid interest shall be payable in cash on the Maturity Date.