Examples of Penal Interest in a sentence
STATUTORY PENALTYPenalty / Penal Interest April 2017 to 2018FY 2017-2018 B.
Interest on Overdue Loan will be Applicable Loan Interest Rate plus 2% Penal Interest Rate.
The Borrower shall be liable to repay the entire outstanding loan amount to Xxxxxx Xxxxx Finance Limited along with the Interest and Penal Interest.
The Penal Interest shall be in addition to the applicable Interest and any other charges which the Borrower/s are liable to pay to the Lender, in terms of this Agreement and the Transaction Documents.
The Borrower/s agree, acknowledge and confirm that the rate of the Penal Interest is reasonable and represents a genuine pre-estimate of the loss expected to be incurred by the Lender in the event of non-payment of any monies by the Borrower/s.