Default Interest and Compound Interest Clause Samples

Default Interest and Compound Interest. (1) In the event that the Borrower misappropriates any amount of the Borrowing for any purpose other than those specified herein, the Entrustor hereby authorizes the Lender to charge compound interest on such amount so misappropriated at a default interest rate equal to the Interest Rate plus N/A%. In the event that the Borrower fails to repay any amount of the Loan and fails to reach agreement with the Entrustor on the extension of the Tenor, and as result, such amount becomes delinquent, the Entrustor hereby authorizes the Lender to charge default interest on such delinquent amount at a default interest rate equal to the Interest Rate plus N/A%. In the event that any interest accrued on the Loan fails to be paid on time, the Entrustor hereby authorizes the Lender to charge compound interest at the default interest rate applicable to the delinquent amount specified above. (2) Where the Interest Rate is a fixed rate, the default interest rate shall also be a fixed one; and accordingly, where the Interest Rate is a floating rate, the default interest rate shall also be a floating one. The floating period of the default interest shall be consistent to that of the Interest Rate. (3) The default interest and the compound interest shall be calculated and collected in the same way as the regular interest on the Loan set forth herein.
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Default Interest and Compound Interest. (1) The Lender has the right to collect default interest. The default interest rate is shown in the special provision 6(4) of Article 23 specified in the Contract in detail. (2) If the loan interest rate is lent at fixed interest rate, the default interest rate will also be fixed rate. If the loan interest rate is lent at floating interest rate, the default interest rate will also be floating rate and its floating period is consistent with the floating period of loan interest rate. (3) The calculation method of default interest and compound interest is executed in accordance with repayment method of loan interest specified in the Contract.
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Default Interest and Compound Interest. (I) If borrower fails to use loan in light of purpose agreed herein, from date of embezzlement, lender is entitled to calculate and collect default interest of the embezzled loan, and for rate of default interest, see Item XII in Article 23 Special Agreement Clause hereof; if borrower fails to repay on schedule and also fails to reach an agreement with lender with regard to grace, that is, if loan is overdue, from the overdue date, lender is entitled to calculate and collect default interest for overdue loan, and for rate of default interest, see Item XIII in Article 23 Special Agreement Clause hereof; for interest that is not paid on schedule (including interest before and after loan is due, default interest for embezzlement or overdue default interest), lender is entitled to calculate and collect compound interest based on overdue default interest rate for loan agreed herein. If the same loan is not only overdue but also not used based on the purpose agreed herein, default interest rate shall be calculated according to the higher one. (II) If loan interest rate uses a fixed interest rate, default interest rate is also the fixed interest rate; if loan interest rate uses floating interest rate, default interest rate is also the floating interest rate, and floating cycle thereof is consistent with that of loan interest rate. (III) Method of calculation and collection of default interest and compound interest shall be subject to loan interest repayment method agreed herein.
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Default Interest and Compound Interest. I. If the borrower does not use the loan for the purpose specified in this agreement, the Lender has the right to charge default interest for the appropriated loans, and the rate of default interest is the loan rate up by 100%. In case of the borrower's inability for timely repayment or to reach an agreement with the Lender about the extension of loans, that's the loan is overdue, the Lender has the right to charge default interest for the overdue loans, and the rate of default interest is the loan rate up by 50%. For the interest which cannot be paid on time, the Lender has the right to charge the compound interest for it according to the overdue default interest rate specified in this agreement.
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Default Interest and Compound Interest. (1) In the event the Borrower fails to use the loan for the agreed purpose, the Lender shall be entitled to require the Borrower to pay default interest for the misappropriated part at a default interest rate of one hundred percent (100%) over the interest rate for the loan hereunder. In the event the Borrower fails to make repayment on schedule and fails to reach an agreement with the Borrower concerning the extension of the payment, that is, the loan is overdue, the Lender shall be entitled to require the Borrower to pay default interest for the overdue loan at a default interest rate of fifty percent (50%) over the interest rate for the loan hereunder. As for the interest which has not been paid on schedule, the Lender shall be entitled to require the Borrower to pay compound interest at the default interest rate for overdue loan agreed hereunder. (2) In case of executing fixed interest rate for the loan, the default interest shall take fixed interest rate; in case of executing floating interesting rate for the loan, the default interest shall take floating interest rate, the floating period of which shall be the same as the floating period of the interest rate for the loan. (3) The settlement and payment method for the default interest and compound interest shall be executed according to the payment method for the loan interest as agreed hereunder.
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Related to Default Interest and Compound Interest

  • Interest and Late Charges If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall bear interest at the maximum rate then allowed by law. Tenant acknowledges that the late payment of any Monthly Installment of Base Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including without limitation, administrative and collection costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Therefore, in addition to interest, if any such installment is not received by Landlord within ten (10) days from the date it is due, Tenant shall pay Landlord a late charge equal to ten percent (10%) of such installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by Tenant. Acceptance of any interest or late charge shall not constitute a waiver of Tenant's default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease.

  • Notification of Rate of Interest and Interest Amounts The Principal Paying Agent will cause the Rate of Interest and each Interest Amount for each Interest Period and the relevant Interest Payment Date to be notified to the Issuer and any stock exchange on which the relevant Floating Rate Notes or Index Linked Interest Notes are for the time being listed and notice thereof to be published in accordance with Condition 15 as soon as possible after their determination but in no event later than the fourth London Business Day thereafter. Each Interest Amount and Interest Payment Date so notified may subsequently be amended (or appropriate alternative arrangements made by way of adjustment) without prior notice in the event of an extension or shortening of the Interest Period. Any such amendment will be promptly notified to each stock exchange on which the relevant Floating Rate Notes or Index Linked Interest Notes are for the time being listed and to the Noteholders in accordance with Condition 15. For the purposes of this paragraph, the expression “

  • Compounding of default interest Any such interest which is not paid at the end of the period by reference to which it was determined shall thereupon be compounded.

  • Default Interest Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

  • Interest and Costs You agree to pay all legal fees and disbursements incurred by Canada to collect any amount of your Outstanding Loan Balance owing under the MSFAA-Canada and you agree to pay interest, if applicable, before and after default and delinquency. You agree to pay interest before and after judgment, as applicable.