Interest and Additional Payments Sample Clauses

The 'Interest and Additional Payments' clause establishes the obligation for a party to pay interest on overdue amounts and may also specify other financial penalties or charges that accrue if payments are late. Typically, this clause details the applicable interest rate, the method of calculation, and the timeframe for when interest begins to accrue, such as immediately after a missed payment deadline. Its core practical function is to incentivize timely payments and compensate the receiving party for the delay, thereby reducing the risk of late payments and providing a clear mechanism for handling payment defaults.
Interest and Additional Payments. On each Payment Date, the amount of interest that will accrue on the outstanding Notes during the related Accrual Period is equal to: • one-twelfth (1/12) of the Class Coupon, multiplied by • the Class Principal Balance of the Notes immediately prior to such Payment Date. Interest on the Notes shall be calculated and payable on the basis of a 360-day year consisting of twelve 30-day months. Interest shall be payable in arrears. In addition to the interest payable on the Notes on each Payment Date as specified above, to the extent that: (a) a prepayment or substitution premium charge or yield maintenance charge is due under a related reimbursement agreement and is actually collected by, or on behalf of, the related servicer on the related BCE Reference Obligation or supplemental loan for which a ▇▇▇▇▇▇▇ Mac Credit Facility Fee (as defined in the related reimbursement agreement) was payable to ▇▇▇▇▇▇▇ Mac for providing credit enhancement with respect to the related tax-exempt bond financing, ▇▇▇▇▇▇▇ Mac shall also pay an amount on the Notes equal to the Reference Obligation Percentage multiplied by 30% of the portion of such charges derived from the ▇▇▇▇▇▇▇ Mac Credit Facility Fee to the extent that they are actually collected and reported to ▇▇▇▇▇▇▇ Mac by the related servicer or the trustee of the related tax-exempt bond financing, or (b) a prepayment premium charge or yield maintenance charge (i) is due under the terms of the Loan Documents for a PC Reference Obligation in the yield maintenance period during which voluntary principal prepayments must be accompanied by a 1% prepayment premium charge or a yield maintenance charge, and (ii) is actually collected by, or on behalf of, the related servicer of such PC Reference Obligation or supplemental loan and reported to ▇▇▇▇▇▇▇ Mac by such servicer, ▇▇▇▇▇▇▇ Mac shall also pay an amount on the Notes equal to the Reference Obligation Percentage multiplied by 20% of the excess of (1) each such charge collected from the related borrower, over (2) the portion of each such charge that is required to be passed through to investors in the related PC. After the end of such yield maintenance period, but prior to the start of the applicable open prepayment period, ▇▇▇▇▇▇▇ Mac shall not be required to pay on the Notes any portion of a prepayment premium charge on a PC Reference Obligation collected by the related servicer.
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Interest and Additional Payments. During the Extended Period, the unpaid amount of the Note shall bear interest at 12% per annum. This interest shall be paid currently on the last day of each month that the unpaid principal is outstanding. In the event of a default in this Second Note Modification Agreement, interest on the outstanding balance of the Note shall be increased to 15%.
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Interest and Additional Payments. On each Payment Date, the amount of interest that will accrue on the outstanding Notes during the related Accrual Period is equal to: • one-twelfth (1/12) of the Class Coupon, multiplied by • the Class Principal Balance of the Notes immediately prior to such Payment Date. Interest on the Notes shall be calculated and payable on the basis of a 360-day year consisting of twelve 30-day months. Interest shall be payable in arrears. In addition to the interest payable on the Notes on each Payment Date as specified above, to the extent that a prepayment premium or yield maintenance charge is due with respect to ▇▇▇▇▇▇▇ Mac’s guarantee of the related tax-exempt bond financing or, in the case of supplemental loans, interest collected, ▇▇▇▇▇▇▇ Mac shall also pay on each Payment Date an amount equal to a specified percentage of such premium or charge that is payable to ▇▇▇▇▇▇▇ Mac and that is actually collected by or on behalf of the related servicer on each Reference Obligation during the related Reporting Period. The percentage of such premiums and charges payable on the Notes on each Payment Date shall be equal to 50% of the total of such premiums and charges.
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Interest and Additional Payments. On each Payment Date, the amount of interest that will accrue on the outstanding Notes during the related Accrual Period is equal to: • one-twelfth (1/12) of the Class Coupon, multiplied by • the Class Principal Balance of the Notes immediately prior to such Payment Date. Interest on the Notes shall be calculated and payable on the basis of a 360-day year consisting of twelve 30-day months. Interest shall be payable in arrears. In addition to the interest payable on the Notes on each Payment Date as specified above, to the extent that a prepayment premium or yield maintenance charge is due with respect to Freddie Mac’s guarantee of the related tax-exempt bond financing or, in the case of supplemental loans, interest collected, Freddie Mac shall also pay on each Payment Date an amount determined with reference to a specified portion of such premium or charge that is received by or on behalf of the related servicer on each Reference Obligation during the related Reporting Period. The portion of such premiums and charges payable on the Notes on each Payment Date shall be an amount equal to the pro rata share of the total of such premiums and charges based on the Class Notional Amounts of the Class A-H and Class B Reference Tranches immediately prior to such Payment Date.
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Interest and Additional Payments. During the Extended Period, the
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Related to Interest and Additional Payments

  • Additional Payments (i) Anything in this Agreement to the contrary notwithstanding, if it is determined that any payment, award, benefit or distribution (or any acceleration of any payment, award, benefit or distribution) by the Company or any entity which effectuates a change in control (or other change in ownership) to or for the benefit of Executive would be subject to the excise tax imposed by Section 4999 of the Code (“EXCESS PARACHUTE PAYMENTS”), or any interest or penalties are incurred by Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “EXCISE TAX”), then the Company shall pay to Executive an additional payment (a “GROSS-UP PAYMENT”) in an amount equal to that required to result in Executive receiving, after application of the Excise Tax, a net amount that would have been received hereunder had the Excise Tax not applied. (ii) Subject to clause (i), all determinations required to be made under this Section, including whether and when a Gross-Up Payment is required, the amount of such Gross-Up Payment and the assumptions to be used in arriving at such determinations, shall be made by a public accounting firm that is selected by the Board (the “ACCOUNTING FIRM”) which shall provide detailed supporting calculations both to the Company and Executive within 15 business days of the receipt of notice from the Company or Executive that there has been a Excess Parachute Payment, or such earlier time as is requested by the Company or Executive (collectively, the “DETERMINATION”). All fees and expenses of the Accounting Firm shall be borne solely by the Company and the Company shall enter into any agreement requested by the Accounting Firm in connection with the performance of the services hereunder. The Gross-Up Payment under SECTION 3.2(c) with respect to any Excess Parachute Payments made to Executive shall be made no later than 30 days following such Excess Parachute Payment. (iii) As a result of the uncertainty in the application of Section 4999 of the Code at the time of the Determination, it is possible that Gross-Up Payments which will not have been made by the Company should have been made (“UNDERPAYMENT”) or Gross-Up Payments will be made by the Company which should not have been made (“OVERPAYMENT”), consistent with the calculations required to be made hereunder. If Executive thereafter is required to make payment of any Excise Tax or additional Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment (together with interest at the rate provided in Section 1274(b)(2)(B) of the Code) shall be promptly paid by the Company to or for the benefit of Executive. If the amount of the Gross-Up Payment exceeds the amount necessary to reimburse Executive for his Excise Tax, the Accounting Firm shall determine the amount of the Overpayment that has been made and any such Overpayment (together with interest at the rate provided in Section 1274(b)(2) of the Code) shall be promptly paid by Executive to or for the benefit of the Company. Executive shall cooperate, to the extent his expenses are reimbursed by the Company, with any reasonable requests by the Company in connection with any contest or disputes with the Internal Revenue Service in connection with the Excise Tax. The Company shall in any event pay any Underpayment due to Executive no later than 15 days after the earlier of (A) the Company’s receipt of Executive’s notice of the amount of related taxes to be paid, or (B) Executive’s remittance of the related taxes to the applicable taxing authority; provided that any reimbursement required under this SECTION 3.2(c) of expenses incurred by Executive due to a tax audit or litigation addressing the existence or amount of a tax liability shall be paid no later than 15 days after the earlier of (X) Executive’s presentation of a statement of any such expense, or (Y) the taxes that are the subject of such contest are remitted to the applicable taxing authority, or where as a result of the audit or contest no taxes are remitted, the date on which the audit is completed or there is a final and nonappealable settlement or other resolution of the contest.

  • No Additional Payments There is no obligation on the part of the Company or any other party to make payments in addition to those made by the Mortgagor;

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.

  • 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.

  • INTEREST AND CHARGES 7.1 If we do not receive your full payment of the current balance specified in the statement of account on or before the payment due date, you must pay daily interest at the rate of (i) S$3.00 per month or (ii) at the retail interest rate or cash interest rate (where applicable) as set out in the statement of account, whichever is the greater, on:- (a) the amount of each unpaid card transaction, or part thereof, listed in the current statement of account, from the date each such card transaction was effected until the date of the current statement of account; and (b) the current balance specified in the statement of account, from the date of the statement of account until the day before the date when we receive payment of the current balance (entirely or partly); and (c) the current balance specified in the statement of account less any partial payment, from the date of such partial payment to the date of the next statement of account or the date when we receive full payment of the current balance, whichever is the earlier; and (d) the amount of each card transaction debited to the card account after the date of the statement of account, from the date each such card transaction was effected until the date of the next statement of account or the date when we receive full payment of the current balance, whichever is the earlier.