Examples of Penalty Rate in a sentence
The Penalty Rate applies to new and outstanding account balances if you fail to make the required minimum payment to Nusenda Federal Credit Union within 60 days after the payment is due.
Any introductory or promotional rate that applies to new or outstanding Account balances will increase to the standard rate that would otherwise apply, or, when appropriate under the terms of this Agreement, a Penalty Rate due to an Adjustment Event (as indicated above).
Under these circumstances the Market Participant pays a penalty based upon the Forward Reserve Failure-to-Reserve Penalty Rate and that Market Participant’s Forward Reserve Failure-to-Reserve Megawatts.
Forward Reserve Failure-to-Activate Penalty for TMOR = The sum of the Forward Reserve Payment Rate for TMOR and the Forward Reserve Failure-to-Activate Penalty Rate multiplied by the Forward Reserve Failure-to-Activate Megawatts for TMOR; Where: Forward Reserve Failure-to-Activate Penalty Rate = Maximum of 2.25 multiplied by the Forward Reserve Payment Rate, or the applicable nodal LMP.
Please see the ACCOUNT OPENING DISCLOSURE for information regarding the Penalty Rate for your Account.