Default Interest and Indemnity Sample Clauses
The "Default Interest and Indemnity" clause establishes the consequences for a party's failure to make payments on time under a contract. Typically, it stipulates that overdue amounts will accrue interest at a specified rate, and may also require the defaulting party to compensate the other party for any additional losses or costs resulting from the late payment. This clause serves to deter late payments, compensate the non-defaulting party for the time value of money and any related damages, and ensures financial discipline throughout the contractual relationship.
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Default Interest and Indemnity. 15.1 If interest in respect of any Note which is due and payable by the Issuer hereunder is not paid on the due date therefor or if any sum due and payable by the Issuer under any judgment of any court in connection herewith is not paid on the date of such judgment, such sum (the balance thereof for the time being unpaid being herein referred to as an “unpaid sum”) shall bear interest at the rate specified in Clause 14.1 beginning on such due date or, as the case may be, the date of such judgment and ending on the date upon which the obligation of the Issuer to pay is discharged.
15.2 Any interest which shall have accrued under Clause 15.1 in respect of an unpaid sum shall be due and payable and shall be paid by the Issuer to the relevant Noteholder(s) at the end of the period by reference to which it is calculated or on such other date or dates as such Noteholder(s) may specify by written notice to the Issuer, provided, however that any such interest which shall have accrued as a result of an event which, but for the payment of such accrued interest as provided in the proviso set forth in the definition of “Interest Payment Default”, would become an Interest Payment Default, shall be payable on the date upon which the obligation of the Issuer to pay such accrued interest is discharged, whether in accordance with the definition of “Interest Payment Default” or as otherwise provided herein.
15.3 The Issuer undertakes to indemnify each Noteholder against any cost, claim, loss, expense (including legal fees) or liability, which it may sustain or incur as a consequence of the occurrence of any default by the Issuer in the performance of any of the obligations expressed to be assumed by it in respect of the Notes.
Default Interest and Indemnity. 65 12.01 .............................................................................65 12.02 .............................................................................66 12.03 .............................................................................66 12.04 .............................................................................67 ARTICLE 13. SET-OFF AND REDISTRIBUTION OF PAYMENTS.........................................67 13.01 .............................................................................67 13.02 .............................................................................68 13.03 .............................................................................68 13.04 .............................................................................68 13.05 .............................................................................68
Default Interest and Indemnity. 17 17. Payments...............................................................18 18.
Default Interest and Indemnity. 25 18. Currency of Account and Payment ....................................... 27 19. Payments .............................................................. 27 20.
Default Interest and Indemnity. Notwithstanding the foregoing, in the event of any default in the payment when due, of any Obligation, the unpaid amount shall bear default interest, payable on demand, unless otherwise specified in the relevant Application or Facility Documentation, at the rate determined by the Bank from time to time to be four percent per annum (4% p.a.) above the Bank's cost of funds ("Default Rate"). In addition to the payment of interest at the Default Rate ("Default Interest"), the Customer shall pay, and otherwise indemnify and hold the Bank harmless from and against, all costs or losses arising from such default.
(d) 貨幣兌換：有關 貴行為立約人所為之任何交易，如 貴行需將一貨幣兌換為另一貨幣（包含但不限於依後段約定所為之兌換）時，立約人應負擔全部有關之費用及損失，包含但不限於因匯率變動所致之損失。於違約情事（定義如后）發生時， 貴行有權（但無義務）為調度資金、求償執行或其他目的，而逕行將立約人尚未清償之融資，自一貨幣 兌換為另一貨幣。
Default Interest and Indemnity. 25 15. SET-OFF AND REDISTRIBUTION OF PAYMENTS . . . . . . . . . . . . . . . . . . . . 26 16.
Default Interest and Indemnity. 48 PART 13 PAYMENTS.........................................................................................................50 28. Currency of Account and Payment.............................................................................50 29. Payments....................................................................................................50 30. Setoff......................................................................................................52 31. Sharing.....................................................................................................52 PART 14 FEES, COSTS AND EXPENSES.........................................................................................54
Default Interest and Indemnity. 8.1 If any sum payable by the Borrower hereunder is not paid when due in accordance with this Agreement, the Borrower shall pay interest on such overdue amount (including overdue default interest) from the date that the amount is overdue to the date of actual payment (both inclusive) at the rate of four (4) per cent per annum.
8.2 The Borrower shall indemnify the Lender against any actions, charges, claims, costs, damages, demands, expenses, fees, liabilities, losses and proceedings which the Lender may sustain or incur as a consequence of any default by the Borrower in the performance of any of his obligations under this Agreement.
Default Interest and Indemnity. 28.1 If any sum due and payable by or on behalf of a party hereto (the "Payer") to the other party (the "Payee") hereunder is not paid on the due date therefor in accordance with the provisions hereof or if any sum due and payable by the Payer under any judgment of any court in connection herewith is not paid on the date of such judgment (the balance of such sum for the time being unpaid being herein referred to as an "unpaid sum"), an unpaid sum shall bear interest (to the extent permitted by law) at the rate per annum which is the sum of two percent (2.0%) and the short-term prime lending rate quoted by ABN AMRO Bank N.V., Tokyo Branch from time to time for the period beginning on, and including, such due date or, as the case may be, the date of such judgment and ending on, but excluding, the date upon which the obligation of the Payer to pay such sum is discharged (calculated on a basis of a year of 360 days). Such default interest shall be payable upon demand of the Payee.
28.2 Each of the Seller and the Collection Agent shall indemnify the Representative Purchaser and each Purchaser against any loss or expense, including legal fees reasonably incurred, which the Representative Purchaser and such Purchaser may sustain or incur as a consequence of any default by the Seller or the Collection Agent (as the case may be) in the performance of any of the obligations expressed to be assumed by it in this Agreement.
Default Interest and Indemnity. 15.1 If any sum due and payable by the Borrower hereunder is not paid on the due date or if any sum due and payable by the Borrower under any judgement of any court in connection herewith is not paid on the date of such judgement, (the balance thereof for the time being unpaid being herein referred to as an "unpaid sum") the unpaid sum shall bear interest at the rate per annum which is the sum from time to time of two per cent, the Margin and the Prime Rate from time to time applicable thereto.
15.2 The Borrower undertakes to indemnify the Lender against any cost, claim, loss, expense (including legal fees) or liability together with any VAT thereon, which it may sustain or incur as a consequence of the occurrence of any Event of Default or any default by the Borrower in the performance of any of the obligations expressed to be assumed by it in this Agreement.