No Payment of Interest Clause Samples
The "No Payment of Interest" clause establishes that no interest will accrue or be payable on any amounts owed under the agreement. In practice, this means that if a party is late in making a payment, the other party cannot charge interest on the overdue sum, regardless of the delay's length. This clause serves to limit financial exposure for the paying party and prevents disputes over additional charges, ensuring that only the principal amount is ever due.
POPULAR SAMPLE Copied 1 times
No Payment of Interest. The Company shall not be required to pay regularly scheduled interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture.
No Payment of Interest. For the avoidance of doubt and notwithstanding of any other provisions of this Agreement, it is hereby agreed and declared that nothing in the Letter of Offer, this Agreement and/or the Security Documents shall oblige any party thereto to pay or receive interest (by whatever means or name called) on any amount due or payable to another party or to do anything contrary to the Shariah principles.
No Payment of Interest. This Debenture was issued for an Original Issue Discount. No interest payments shall be due and payable to the Holder hereunder.
No Payment of Interest. Except as specifically set forth in this Debenture, the Holder acknowledges and agrees that the Company shall not pay interest to the Holder on this Debenture.
No Payment of Interest. For the avoidance of doubt and notwithstanding any other provisions to the contrary herein contained, it is hereby agreed and declared that nothing in this Agreement shall oblige the Bank or the Customer, respectively, to pay or to receive interest (by whatever means or name called) on any amount due or payable to another party or to do anything contrary to the Shariah Principles.
No Payment of Interest. For the avoidance of doubt and notwithstanding any other provision to the contrary herein contained, it is hereby agreed and declared that nothing in this Agreement shall oblige any party hereto nor shall any party be entitled to pay interest (by whatever name called) on any amount due or payable to any of the other parties hereto or to receive any interest on any amount due or payable to such party.
No Payment of Interest. The Company shall not pay interest to the Holder on this Debenture. The Company acknowledges and agrees that this Debenture was issued for an Original Issue Discount in lieu of future cash interest payments.
No Payment of Interest. For the avoidance of doubt and notwithstanding any other provisions to the contrary herein contained, it is hereby agreed and declared that nothing in the Security Documents shall oblige any party to the Security Documents to pay or to receive interest (by whatever means or name called) on any amount due or payable to another party to the Security Documents or to do anything contrary to Shariah Principles.
No Payment of Interest. Except as set forth herein, the Company shall not pay interest to the Holder on this Debenture.
No Payment of Interest. The AUTHORITY shall not be liable for interest for any reason, whether as prejudgment interest or for any other purpose, and in furtherance thereof GENERAL COUNSEL waives, rejects, disclaims and surrenders any and all entitlement it has or may have to receive interest in connection with a dispute or claim based on or related to this Agreement.