Interest; Interest Rate; Payment Clause Samples

This clause defines the terms under which interest is calculated and paid on outstanding amounts between parties. It typically specifies the applicable interest rate, the method of calculation (such as simple or compound interest), and the timing or frequency of interest payments. By clearly outlining these details, the clause ensures both parties understand their financial obligations regarding interest, thereby reducing disputes and providing a mechanism for compensating delayed payments.
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Interest; Interest Rate; Payment. (a) The Note shall bear interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in clause (b) below) at a rate equal to ten (10%) percent (the "Interest Rate") per annum on a 360-day year. Interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in subparagraph (b) below) shall be due and payable in cash semi-annually in arrears following the end of each semi-annual period, commencing with the semi-annual period ended June 30, 2006, pro rated for partial periods; PROVIDED, HOWEVER, that any interest accruing on overdue amounts pursuant to subparagraph (b) of this Section 3.3 shall be payable on demand. (b) If all or a portion of the principal amount of the Note or any interest payable thereon shall not be repaid when due whether on the applicable repayment date, by acceleration or otherwise, such overdue amounts shall bear interest at a rate per annum that is three percent (3%) above the Interest Rate (I.E., 13%) from the date of such non-payment until such amount is paid in full (as well after as before judgment). (c) All payments to be made by Seller hereunder or pursuant to the Note shall be made, without setoff or counterclaim, in lawful money of the United States by check or wire transfer in immediately available funds.
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Interest; Interest Rate; Payment. (a) Each of the Notes shall bear interest at a rate equal to eight (8%) percent (the "Interest Rate") per annum based on a 365-day year and shall be payable quarterly in arrears. Interest (other than interest accruing as a result of a failure by Seller to pay any amount when due as set forth in subsection (b) below) in respect of each of the Notes shall accrue until all amounts remaining owed under such Note shall be fully repaid or the date on which such Note shall be fully converted into Conversion Shares (the "Conversion Date"), as the case may be, and shall be payable in full on the earlier of (i) the Note Maturity Date, (ii) if only the principal of such Note shall have been converted, and such conversion shall have occurred prior to the Note Maturity Date, ten (10) days after the Conversion Date or (iii) otherwise in accordance with Section 6.2(c)(iii) hereof; PROVIDED, HOWEVER, that any interest accruing on overdue amounts pursuant to subsection (b) of this Section 3.3 shall be payable on demand. (b) If all or a portion of the principal amount of any of the Notes or any interest payable thereon shall not be repaid when due whether on the applicable repayment date, by acceleration or otherwise, such overdue amounts on such Note shall bear interest at a rate per annum that is three (3%) percent above the Interest Rate (I.E., 11%) from the date of such non-payment until such amount is paid in full (after as well as before judgment). All payments to be made by Seller hereunder or pursuant to the Notes shall be made, without setoff or counterclaim, in lawful money of the United States by certified check or wire transfer in immediately available funds.
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Interest; Interest Rate; Payment. (a) The Note shall bear interest (other than interest accruing as a result of a failure by Issuer to pay any amount when due as set forth in subparagraph (b) below) at an annual interest rate equal to eight percent (8%) per annum on the then outstanding principal balance (the “Interest Rate”). Interest (other than interest accruing as a result of a failure by Issuer to pay any amount when due as set forth in subparagraph (b) below) shall accrue until all amounts owed under the Note shall be fully repaid and shall be due and payable quarterly in arrears on the last business day of each calendar quarter following the issuance date. (b) If all or a portion of the principal amount of the Note or any interest payable thereon shall not be repaid when due whether on the applicable repayment date, by acceleration or otherwise, such overdue amounts shall bear interest at a rate per annum that is three percent (3%) above the Interest Rate from the date of such non-payment until such amount is paid in full (before as well as after judgment). (c) All payments to be made by Issuer hereunder shall be made, without setoff or counterclaim, in lawful money of the United States by check or wire transfer in immediately available funds.
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Interest; Interest Rate; Payment 
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Related to Interest; Interest Rate; Payment

  • Interest Rate Payments Subject to Holder's right to charge the Default Rate (as hereinafter defined) pursuant to Section 4 hereof, this Note shall bear interest, and Maker shall make payments as follows: (a) Interest shall accrue on the unpaid principal balance of this Note at the Interest Rate (as defined in Exhibit A). For purposes of computing interest on the debt evidenced hereby, interest shall be calculated on the basis of a twelve (12) month calendar year applied to the actual number of months funds are outstanding. Payments (or prepayments) made on account hereof shall be applied first to the payment of late charges or other fees and costs owed to Holder (if any), next to the payment of accrued and unpaid interest, and then to principal, or, during the continuance of an Event of Default (as hereinafter defined), in such other order or proportion as Holder, in its sole discretion, may elect from time to time. (b) Interest and principal over the term of the Note shall be due and payable monthly in accordance with the Payment Schedule set forth in Exhibit F. Maker may at any time or from time to time make a voluntary prepayment, whether in whole or in part, of this Note, without premium or penalty. (c) The entire outstanding Obligations (as hereinafter defined) shall be due and payable in full on the Maturity Date (as defined in Exhibit A) or such earlier date resulting from acceleration by Holder of the Obligations due hereunder following an Event of Default (the “Maturity Date”).

  • Late Payment Interest If the Customer fails to make payment by the agreed time, the Contractor shall be entitled to claim interest on any overdue amount, pursuant to the Act No. 100 of 17 December 1976 relating to Interest on Overdue Payments, etc. (Late Payment Interest Act).

  • Interest Due Without limiting any other rights or remedies available to either Party, each Party shall pay the other interest on any payments that are not paid on or before the date such payments are due under this Agreement at a rate of [*] per annum or the maximum applicable legal rate, if less, calculated on the total number of days payment is delinquent.

  • Interest on late payment Subject to clause 9.7, the Trader or the Distributor (as the case may be) must pay any Tax Invoice issued under this clause 9. If any part of a Tax Invoice that is properly due in accordance with this Agreement is not paid by the due date, Default Interest may be charged on the outstanding amount for the period that the Tax Invoice remains unpaid.

  • Fixed Interest Rate The loan interest rate hereunder is determined by the latest þ1-year ☐5-year and above ☐ other LPR published on the natural day before þ the Effective Date of this Contract ☐the loan issuance date plus (plus/less) 105.000000 basis points (LPR, the loan prime rate published by the National Interbank Funding Center, 1 basis point =0.01%, the same below), subject to the loan receipts or the electronic data and vouchers generated by E-banking such as online banking. During the term of loan, the loan interest rate shall not be adjusted.