Statutory Interest definition

Statutory Interest means statutory interest as defined in the Late Payment of Commercial Debts (Interest) Act 1998 as amended & supplemented by the Late Payment of Commercial Debts Regulations 2002.

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Statutory Interest means interest carried by virtue of the term implied by section 1(1); and

Statutory Interest means simple interest for late payment at a rate which is the sum of the reference rate, plus at least seven percentage points;

Examples of Statutory Interest in a sentence

• Repayment must include Statutory Interest computed from the first day of the month following the overpayment.

• If the Total Loan Amount was not repaid after the termination of the Agreement, the Partner shall continue to pay the Statutory Interest to the Lender.

• Statutory Interest interest established pursuant to effective laws and regulations, the size whereof at the conclusion moment of the Agreement is 6% per annum, and which is calculated after the termination of the Agreement.

• The rate of interest shall be equal to the Statutory Interest Rate ("Basiszinssatz") plus eight percent.

• The amount of the interest is equal to the statutory interest for non-commercial transactions (which may be found at ▇▇▇.▇▇▇▇▇▇.▇▇▇▇▇▇▇▇.▇▇, “Besluit wettelijke rente” (Statutory Interest Decree)) plus the maximum number of percentage points as contained in the Besluit kredietvergoeding (Lending Rate Decree) (article 4), which may also be found at ▇▇▇.▇▇▇▇▇▇.▇▇▇▇▇▇▇▇.▇▇.

More Definitions of Statutory Interest

Statutory Interest means any interest payable to a CVA Creditor pursuant to any relevant statutory provision (including, without limitation, the Judgments Act 1838, the Insolvency Act or the Insolvency Rules);

Statutory Interest means statutory interest as defined in the Late Payment of Commercial Debts (Interest) Act 1998

Statutory Interest means simple interest for late payment at the rate of 8% above the base rate set by the Gibraltar Savings Bank for savings on the day the debt became due; if the base rate changes thereafter, the Reference Rate shall also change to remain 8% above the base rate; and

Statutory Interest in the Finnish legislation means both the interest rate that applies to an outstanding debt before the due date and penalty interest for late payments. Provisions on both types of statutory interest are laid down in the Interest Act (633/1982). The obligation to pay interest or penalty interest for late payments is determined under the Interest Act, unless otherwise follows from the obligation of the debtor or a business practice or unless otherwise provided by law (Interest Act, section 2, subsection 1).

Statutory Interest has the meaning provided in Exhibit Y.8.

Statutory Interest means statutory interest as defined in the Late Payment of

Statutory Interest means simple interest for late payment at a rate which is