Interest on Claims Clause Samples

Interest on Claims. If a claim is not paid within 28 days of the date on which a completed claim form and all supporting information and documents are lodged, the Insurer will pay interest on the amount of the claim admitted by the Insurer at the Standard Rate from the date the completed claim form and supporting information and documents were lodged until payment of the claim.

Interest on Claims. Payments to a Non-U.S. Holder that are attributable to accrued but untaxed interest on its Claim generally will not be subject to U.S. federal income or withholding tax, provided that the withholding agent has received or receives, prior to payment, appropriate documentation (generally, IRS Form W-8BEN or W-8BEN-E) establishing that the Non-U.S. Holder is not a U.S. person, unless: a. the Non-U.S. Holder actually or constructively owns 10 percent or more of the total combined voting power of all classes of the Debtors’ stock entitled to vote (after application of certain attribution rules); b. the Non-U.S. Holder is a “controlled foreign corporation” that is a “related person” with respect to the Debtors as described in section 881(c)(3)(C) of the Tax Code; c. the Non-U.S. Holder is a bank receiving interest described in section 881(c)(3)(A) of the Tax Code; or d. such interest is effectively connected with the conduct by the Non-U.S. Holder of a trade or business within the United States and, if required by an applicable income tax treaty, is attributable to a U.S. permanent establishment or fixed base of the Non-U.S. Holder (in which case, provided the Non-U.S. Holder provides a properly executed IRS Form W-8ECI (or successor form) to the withholding agent, the Non-U.S. Holder (x) generally will not be subject to withholding tax, but (y) will be subject to U.S. federal income tax in the same manner as a U.S. Holder (unless an applicable income tax treaty provides otherwise), and a Non-U.S. Holder that is a corporation for U.S. federal income tax purposes may also be subject to a branch profits tax with respect to such Non-U.S. Holder’s effectively connected earnings and profits that are attributable to the accrued but untaxed interest at a rate of 30 percent (or at a reduced rate or exemption from tax under an applicable income tax treaty)).

Interest on Claims. The amount of any Claim submitted under Section 6.1 shall bear interest from and including the date any indemnified party is required to make payment in respect thereof at the prime lending rate of interest expressed at a rate per annum which Royal Bank of Canada establishes as a reference rate of interest for commercial demand loans in Canadian dollars, calculated from and including such date to but excluding the date reimbursement of such Claim by the indemnifying party is made, and the amount of such interest shall be deemed to be part of such Claim.

Interest on Claims. The amount of any Claim submitted under this Article VIII as damages or by way of indemnification shall bear interest from and including the date any Indemnified Party is required to make payment in respect thereof at the prime rate of interest charged by HSBC Bank Canada to its most creditworthy commercial customers calculated from and including such date to but excluding the date reimbursement of such Claim by the Indemnifying Party is made, and the amount of such interest shall be deemed to be part of such Claim.

Interest on Claims. 51 10.11 Payment of Indemnity Obligations.................................51 10.12 Exclusive Remedy. ...............................................52

Interest on Claims. Except as otherwise provided herein, postpetition interest shall not accrue or be paid on Claims, and no holder of a Claim shall be entitled to interest accruing on or after the Petition Date on any Claim. Interest shall not accrue or be paid upon any Disputed Claim in respect of the period from the Petition Date to the date a Final Distribution is made thereon if and after such Disputed Claim becomes an Allowed Claim. To the extent that any Allowed Claim entitled to a distribution under the Plan is composed of indebtedness and accrued but unpaid interest thereon, such distribution shall, to the extent permitted by applicable law, be allocated for federal income tax purposes to the principal amount of the Allowed Claim first and then, to the extent the consideration exceeds the principal amount of the Allowed Claim, to the portion of such Allowed Claim representing accrued but unpaid interest.

Interest on Claims. If Ceding Company pays interest on a claim, Reinsurer agrees to pay the interest on the Reinsured Net Amount at Risk computed at the same rate and for the same period as that paid by Ceding Company, but in no event later than the date the claim is finally adjudicated by Ceding Company.

Interest on Claims. The amount of any claim for Loss and Expense submitted under Section 10.7 as damages or by way of indemnification shall bear interest from and including the date any Indemnified Party is required to make payment in respect thereof at the rate of 10% per annum calculated from and including such date to but excluding the date reimbursement of such claim for Loss and Expense by the Indemnifying Party is made, and the amount of such interest shall be deemed to be part of such claim.

Interest on Claims. 24 C. Distributions by Disbursing Agent and the Indenture Trustee............................................24