Late Payments of Interest Sample Clauses

The "Late Payments of Interest" clause establishes the obligation for a party to pay additional interest if they fail to make payments on time. Typically, this clause specifies the rate of interest that will accrue on overdue amounts and the period over which it will be calculated, such as a daily or monthly rate applied until the outstanding payment is settled. Its core practical function is to incentivize timely payments and compensate the non-breaching party for the delay, thereby reducing the risk and financial impact of late payments.
Late Payments of Interest. The provisions of Section 307 (Payment of interest on Bonds; interest rights preserved) (other than the first and last paragraphs thereof) of the Mortgage shall not apply to the Bonds. Interest on any Bond, other than that paid in accordance with first sentence of such Section 307, shall be paid to the Person in whose name that Bond (or one or more Predecessor First Mortgage Bonds (as defined in the Mortgage)) is registered at the close of business on the day before such payment.
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Late Payments of Interest. If any installment of interest or ------------------------- other amount payable hereunder shall not be paid on its due date, the amount unpaid shall bear interest, from the due date of such amount to the date of payment thereof, computed at the Overdue Rate on such amount. The payment of said late charge or such interest shall not constitute a waiver, nor excuse or cure, of any default under this Note, nor prevent Lender from exercising any other rights and remedies available to Lender.
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Late Payments of Interest. 15 Section 5.5 No Presentation of Bonds. 16
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Related to Late Payments of Interest

  • Late Payments Except as expressly provided to the contrary in this Agreement or in any Ancillary Agreement, any amount not paid when due pursuant to this Agreement or any Ancillary Agreement (and any amounts billed or otherwise invoiced or demanded and properly payable that are not paid within thirty (30) days of such ▇▇▇▇, invoice or other demand) shall accrue interest at a rate per annum equal to Prime Rate plus two (2%) percent.

  • Payments of Interest Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.

  • Late Payment Fees If you have not paid a bill by the pay-by date, we may require you to pay a late payment fee, which is part of our standing offer prices published on our website.

  • Late Payment Timeliness of payment and any interest to be paid to Contractor for late payment shall be governed by Article 11-A of the State Finance Law to the extent required by law.

  • 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).