PAYMENT ON DEMAND definition

PAYMENT ON DEMAND the Corporation shall fail to pay the Principal Amount or interest thereon when demanded by the Holder;
Sample 1
PAYMENT ON DEMAND. The Guarantor shall make payment to the Agent of the amount of its liability hereunder forthwith after demand therefor is made in writing; the liability of the Guarantor shall bear interest from the date of such demand at the applicable rates set forth in Sections 4.7 and 12.1 of the Credit Agreement. The Guarantor agrees that whenever, at any time, or from time to time, it shall make any payment to the Agent or any Lender on account of the Obligations, it will notify the Agent in writing that such payment is made for such purpose under this Guarantee. The Guarantor hereby agrees that any payments in respect of the Obligations pursuant to this Guarantee will be paid to the Agent without set-off, compensation or counterclaim in the same currency in which the Obligations are denominated. If the Agent receives any payment from or for the account of the Guarantor in any currency other than the currency in which the Obligations are denominated, that payment shall constitute satisfaction of the Obligations only to the extent of the amount of such currency that the Agent, in accordance with its normal procedures, could purchase with the amount of the other currency received by it from the Guarantor on the first business day after the day of receipt.
Sample 1

Examples of PAYMENT ON DEMAND in a sentence

  • PAYMENT ON DEMAND Xxxxxx's record shall, at any time, be conclusive evidence of the unpaid Principal Balance and interest owing on this note.

  • XXXXXXXX UNDERSTANDS AND ACKNOWLEDGES THAT THE LINE OF CREDIT IS A PAYMENT ON DEMAND LOAN FACILITY.

Related to PAYMENT ON DEMAND

  • Video-On-Demand or “VOD” means a programming system for transmission and retransmission of a single motion picture or programme (or series of related programs) delivered by means of a telecommunications or other technical system from a digital storage devise or presented in any form that permits Exhibition of such motion picture or programs in a non-linear form at the discretion of the viewer.

  • on demand means a system where a user, subscriber or viewer is enabled to access, at a time chosen by such user, any content in electronic form, which is transmitted over a computer resource and is selected by the user;

  • Peak Demand means the maximum Metered Demand in the last 12 months;

  • Default Fee means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 2% above the Prime Rate.

  • Fronting Fee shall have the meaning provided in Section 4.1(c).

  • Payment Notice has the meaning assigned to it in Section 8.06(c).

  • Review Demand Date means, for a Review, the date when the Indenture Trustee determines that each of (a) the Delinquency Trigger has occurred and (b) the required percentage of Noteholders has voted to direct a Review under Section 7.2 of the Indenture.

  • LC Fee is defined in Section 2.19.4.

  • Hookup fee means a fee for the installation and inspection of any pipe, line,

  • LC Payment Notice has the meaning specified in Section 2.04(e).

  • L/C Fee has the meaning specified in Section 2.03(i).

  • Certificate of Termination Demand means a certificate substantially in the form of Annex C to any Multi-Series Letter of Credit.

  • Billing Demand means the metered demand or connected load after necessary adjustments have been made for power factor, intermittent rating, transformer losses and minimum billing. A measurement in kiloWatts (kW) of the maximum rate at which electricity is consumed during a billing period;

  • Extension Fee means the fee payable to the Trustee on each occasion the Manager, upon a Participating Dealer’s request, grants the Participation Dealer an extended settlement in respect of a Creation Application or Redemption Application.

  • Renewal Fee means the fee that Borrower must pay Coast upon renewal of this Agreement pursuant to Section 9.1 hereof, in the amount set forth on the Schedule.

  • Expense Fee As to each Mortgage Loan and any Distribution Date, the product of the Expense Fee Rate and its Stated Principal Balance as of that Distribution Date.

  • Maximum Demand means the greatest demand required by a customer during a specific length of time.

  • Acceptance Fee means a fee payable in Canadian Dollars by the Canadian Borrower to the Administrative Agent for the account of a Canadian Lender with respect to the acceptance of a B/A or the making of a B/A Equivalent Loan on the date of such acceptance or loan, calculated on the face amount of the B/A or the B/A Equivalent Loan at the rate per annum applicable on such date as set forth in the row labeled “Fixed Rate Spread” in the definition of the term “Applicable Percentage” on the basis of the number of days in the applicable Contract Period (including the date of acceptance and excluding the date of maturity) and a year of 365 days (it being agreed that the rate per annum applicable to any B/A Equivalent Loan is equivalent to the rate per annum otherwise applicable to the Bankers’ Acceptance which has been replaced by the making of such B/A Equivalent Loan pursuant to Section 2.24).

  • Application Fee means any nonrefundable fee, which is paid by a tenant to a landlord or managing

  • Remarketing Fee has the meaning specified in Section 5.4(b)(i).

  • Repayment Notice Each notice required to be delivered by the Borrower pursuant to Section 2.3 in respect of any reduction in the Facility Amount or repayment of Advances Outstanding, in the form of Exhibit A-2.

  • Reverse Termination Fee shall have the meaning set forth in Section 9.2(b).

  • Expense Fees As to each Mortgage Loan, the sum of the Servicing Fee and the Trustee Fee.

  • Drawing Fee means, with respect to each Draft drawn by TCCI and purchased by any Person on any Drawing Date and subject to the provisions of Section 2.15, an amount equal to the product of (i) the Applicable Rate times the aggregate Face Amount of the Draft, multiplied by (ii) a fraction the numerator of which is the number of days in the term to maturity of such Draft and the denominator of which is 365 or 366, as applicable.

  • LC Payment Date is defined in Section 2.20.5.

  • L/C Fee Payment Date the last day of each March, June, September and December and the last day of the Revolving Credit Commitment Period.