Examples of Penalty Interest in a sentence

In these circumstances interest will accrue on the reducing balance of the Global Fees from the Due Date at the rate set out and amended from time to time in the Penalty Interest Rates Act 1983 (Vic).

More Definitions of Penalty Interest

Penalty Interest means interest at the rate of 10 per cent per annum, or such other rate as may be fixed by section 2 of the Penalty Interest Rates Act 1983 from time to time.

Penalty Interest. With respect to any Trust Mortgage Loan or Serviced Non-Trust Mortgage Loan (or any successor REO Mortgage Loan with respect thereto), any amounts collected thereon, other than late payment charges, Additional Interest, Prepayment Premiums or Yield Maintenance Charges, that represent penalty interest (arising out of a default) in excess of interest on the Stated Principal Balance of such Trust Mortgage Loan or Serviced Non-Trust Mortgage Loan (or such successor REO Mortgage Loan) accrued at the related Mortgage Rate. Penalty Interest with respect to an Outside Serviced Trust Mortgage Loan will be allocated to such Trust Mortgage Loan as provided in the related Co-Lender Agreement and the related Outside Servicing Agreement, and to the extent not inconsistent with the related Co-Lender Agreement and the related Outside Servicing Agreement, as provided in this Agreement.

Penalty Interest has the meaning ascribed thereto in clause 15.1;

Penalty Interest. As such term is defined in the Note.

Penalty Interest. In pesos, the maximum legal penalty rate certified by the competent authority; in US dollars, 3-month LIBOR plus 4%.

Penalty Interest has the meaning given in clause 5.5.

Penalty Interest means an interest rate of 12% per annum and calculated on a daily basis, or otherwise the penalty interest rate as provided by applicable legislation.