Interest payable on amounts past due Clause Samples
The 'Interest Payable on Amounts Past Due' clause establishes that if a party fails to pay an amount owed by the due date, interest will accrue on the overdue sum. Typically, this clause specifies the interest rate to be applied, the method of calculation (such as daily or monthly), and the period over which interest will be charged until payment is made. Its core function is to incentivize timely payments and compensate the owed party for the delay, thereby reducing the risk of late payments and providing a clear consequence for non-compliance.
Interest payable on amounts past due. All late payments due under this Agreement will bear interest at a rate equal to the annualized interest rate at prime (as published in the Wall Street Journal from time to time) plus three percentage points, from the invoice due date to the date of payment. If Buyer disputes any portion of any invoice, Buyer must notify Supplier in writing of the nature and the basis of the dispute within 60 days after the date of the applicable invoice, after which time Buyer will have waived any rights to dispute such amount.
Interest payable on amounts past due. All payments required to be made pursuant to this Agreement shall bear interest from and including the date such payment is due until but excluding the date of payment, at a rate of 5% per annum. Such interest shall be payable at the same time as the payment to which it relates and will be calculated on the basis of a year of 365 days and the actual number of days elapsed, compounded quarterly.
Interest payable on amounts past due. All late payments due under this Transition Services Agreement will bear interest at a rate equal to the prime rate (as published in the Wall Street Journal from time to time) plus three (3) percentage points, from the invoice due date to the date of payment.
Interest payable on amounts past due. All payments required to be made pursuant to this Agreement will bear interest from and including the date 10 days after such payment is due to but excluding the date of payment with interest thereon, at a rate equal to the average daily rate of interest publicly announced by JPMorgan Chase Bank in Chicago, Illinois from time to time as its prime rate calculated on the basis of the actual number of days elapsed over 365 as in effect from time to time during the period, from the date such interest begins to accrue to the date of payment. Such interest will be payable at the same time as the payment to which it relates.
Interest payable on amounts past due. All payments required to be made pursuant to this Agreement shall bear interest from and including the date such payment is due until but excluding the date of payment, at a monthly rate equal to the lesser of (i) one and one quarter of one percent (1.25%) per month or (ii) the maximum rate permitted by applicable Law. In addition, Recipient shall indemnify Provider for its costs, including reasonable attorneys’ fees and disbursements, incurred to collect any unpaid amount that is past due and not disputed in writing by Recipient.
Interest payable on amounts past due. All payments required to be made pursuant to this Agreement or any Supplemental Agreement (including pursuant to Section 4.01) will bear interest from and including the date such payment is due but excluding the date of payment at the three (3) month LIBOR rate plus 350 basis points in effect from time to time during the period from the date such payment is past due to the date of payment. Such interest will be payable at the same time as the payment to which it relates and will be calculated on the basis of a year of 365 days and the actual number of days elapsed, compounded quarterly.
Interest payable on amounts past due. All payments required to be made pursuant to this Agreement will bear interest from and including the date [ORIGINAL TEXT REDACTED] after such payment is due to but excluding the date of payment at the Prime Rate in effect from time to time during the period from the date such interest begins to accrue to the date of payment. Such interest will be payable at the same time as the payment to which it relates and will be calculated on the basis of a year of 365 days and the actual number of days elapsed, compounded quarterly.
Interest payable on amounts past due. All payments required to be made pursuant to this Agreement will bear interest from and including the date [ORIGINAL TEXT REDACTED] after such payment is due to but excluding the date of payment at the Prime Rate in effect from time to time during the period from the date such interest begins to accrue to the date of payment. Such interest will be payable at the same time as the payment to which it relates and will be calculated on the basis of a year of 365 days and the actual number of days elapsed, compounded quarterly.