Payment and Interest Charges Clause Samples

The Payment and Interest Charges clause establishes the obligations regarding when and how payments must be made under the agreement, as well as the consequences of late payments. Typically, it specifies the due dates for payments, acceptable methods of payment, and the interest rate or penalties that will apply if payments are not made on time. By clearly outlining these terms, the clause helps ensure timely payment, discourages late payments, and provides a mechanism for compensating the payee if delays occur.
Payment and Interest Charges. For value received, Applicant promises to pay to the order of Company the amount of invoiced credit as may be extended by Company from time to time as evidenced on the books and records of Company, plus any finance charge ▇▇▇▇▇▇▇ established herein, plus all other fees imposed by Company from time to time, plus all costs of enforcement and collection (including reasonable attorneys' fees) in the event of Applicant’s default under this Agreement, and other remedial obligations imposed on Applicant hereunder. Payment must be received by Company by the 25th day of the month following the original invoice date or if no invoice is issued, within thirty (30) days following the date of delivery of products or services. Payments shall be directed to the address for notice set forth herein or the payment address provided in Company’s invoice. Applicant authorizes Company to process any checks submitted as an automated clearing house transaction. Applicant acknowledges and agrees to be bound by the terms of any purchase program, offering, invoice, statement, policy, or procedures of Company, whether related to credit requirements or otherwise. The unpaid principal balance owing to Company after any applicable due date shall bear interest at the lesser of the rate of twenty-four percent (24%) per annum or the maximum legal rate. Payments shall be applied by Company first to unpaid interest charges, then to accrued and unpaid expenses, and then to the unpaid principal balance. Applicant, Co-Applicant, and any Guarantor(s) are jointly and severally liable for any and all indebtedness under this Agreement.
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Payment and Interest Charges i) Payment will be made by way of electronic funds transfer (EFT) as per the settlement date on the ▇▇▇▇▇▇▇▇▇ Statement and in any event not earlier than 30 days from the date of ▇▇▇▇▇▇▇▇▇, in accordance with the terms and conditions in Schedule B, payable in line with the banking details provided in writing to MEATCO by the PRODUCER or his/her/its duly authorised Agent. ii) In the event of MEATCO failing to pay the PRODUCER within the period specified in (i) above, prime interest rate less 3.75% shall accrue in favour of the PRODUCER, reckoned from the 45th day after the invoice became due and payable. The interest rate shall be worked out every three months, at the average prime interest rate charge by the Bank of Namibia.
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Payment and Interest Charges i) Payment will be made by way of electronic funds transfer (EFT) as per the settlement date on the ▇▇▇▇▇▇▇▇▇ Statement and in any event not earlier than 30 days from the date of ▇▇▇▇▇▇▇▇▇, in accordance with the terms and conditions in Schedule B, payable in line with the banking details provided in writing to MEATCO by the PRODUCER or his/her/its duly authorised Agent. ii) In the event of MEATCO failing to pay the PRODUCER within the period specified in (i) above, prime interest shall accrue in favour of the PRODUCER, reckoned from the settlement date as per the ▇▇▇▇▇▇▇▇▇ statements.
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Payment and Interest Charges. For value received, Applicant promises to pay to the order of Star Energy FS the amount of invoiced credit as may be extended by Star Energy FS from time to time as evidenced on the books and records of Star Energy FS, plus any finance charge thereon established herein, plus all other fees imposed by Star Energy FS from time to time, in the event of Applicant’s default under this Agreement, and other remedial obligations imposed on Applicant hereunder. Payment must be received by Star Energy FS by the 20th day of the month following the original invoice date or if no invoice is issued, within thirty (30) days following the date of delivery of products or services. Payments shall be directed to the address for notice set forth herein or the payment address provided in Star Energy FS’s invoice. Applicant authorizes Star Energy FS to process any checks submitted as an automated clearing house transaction. Applicant acknowledges and agrees to be bound by the terms of any purchase program, offering, invoice, statement, policy or procedures of Star Energy FS, whether related to credit requirements or otherwise. The unpaid principal balance owing to Star Energy FS after any applicable due date shall bear interest at the lesser of the rate of twenty-four percent (24%) per annum or the maximum legal rate. Payments shall be applied by Star Energy FS first to unpaid interest charges, then to accrued and unpaid expenses, and then to the unpaid principal balance. Applicant and Co-Applicant are jointly and severally liable for any and all indebtedness under this Agreement. Default. Occurrence of any of the following shall constitute a default: (a) the failure to make any payment hereunder on or before any due date: (b) breach of any representation, covenant or obligation under this Agreement (c) if any statement or report furnished by Applicant to Star Energy FS is false in any material respect.
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Payment and Interest Charges. For value received, Applicant promises to pay to the order of Company the amount of invoiced credit as may be extended by Company from time to time as evidenced on the books and records of Company, plus any finance charge ▇▇▇▇▇▇▇ established herein, plus all other fees imposed by Company from time to time, in the event of Applicant’s default under this Default. Occurrence of any of the following shall constitute a default: (a) the failure to make any payment hereunder on or before any due date: (b) breach of any representation, covenant or obligation under this Agreement (c) if any statement or report furnished by Applicant to Company is false in any material respect.
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Related to Payment and Interest Charges

  • Interest Charges You agree to pay interest at the rate(s) disclosed to you at the time you open your account and as may be changed from time to time in accordance with applicable law. Average Daily Balance including new transactions: Interest Charges will accrue on your average daily balance outstanding during the month. To get the average daily balance, we take the beginning balance each day, add any new purchases, cash advances, balance transfers or other advances, and subtract any payments, unpaid interest charges, and unpaid late charges. This gives us the daily balance. Then, we add up all the daily balances for the billing cycle and divide that by the number of days in the billing cycle. We then multiply that by the periodic rate corresponding to the Annual Percentage Rate on your account. If you have different rates for purchases, cash advances or balance transfers, separate average daily balances for each will be calculated and the appropriate periodic rate is then applied to each.

  • Payment and Interest The amount determined payable pursuant to the decision, less any portion already paid, normally should be paid without awaiting Contractor action concerning appeal. Such payments shall be without prejudice to the rights of either party. Interest on amounts ultimately determined to be due to a Contractor shall be payable at the Statutory rate applicable to judgments against the State under Chapter 662, HRS from the date of receipt of a properly certified final written statement of actual adjustment required until the date of decision; except, however, that if an action is initiated in circuit court, interest under this Section 7.25, DISPUTES AND CLAIMS (§3-126-31 HAR) shall only be calculated until the time such action is initiated. Interest on amounts due the Department from the Contractor shall be payable at the same rate from the date of issuance of the Project Manager’s notice to the Contractor. Where such payments are required to be returned by a subsequent decision, interest on such payments shall be paid at the statutory rate from the date of payment.

  • Payments and Interest Payments required of PURCHASER by this contract or modifications of this contract, other than those in Sections 13 and 42, shall be received by STATE within the time period stated on the instrument requesting payment from PURCHASER. Payments received after the due date stated on the billing instrument may be subject to an interest charge. The interest rate applied to overdue payments shall be the prime interest rate in effect on the day the payment became delinquent, as established by U.S. Bank, ▇▇▇▇ and ▇▇▇▇ Branch, plus 4 percent. Interest shall be calculated from the date of the original billing to the date payment is received by the State Forester.

  • Distributions and Interest Amount (i) Interest Rate. "Interest Rate" for any day means, the Federal Funds Overnight Rate. For the purposes hereof, "Federal Funds Overnight Rate" means, for any day, an interest rate per annum equal to the rate published as the Federal Funds Effective Rate that appears on Telerate Page 118 for such day.

  • Notification of Rate of Interest and Interest Amounts The Principal Paying Agent will cause the Rate of Interest and each Interest Amount for each Interest Period and the relevant Interest Payment Date to be notified to the Issuer and any stock exchange on which the relevant Floating Rate Notes or Index Linked Interest Notes are for the time being listed and notice thereof to be published in accordance with Condition 15 as soon as possible after their determination but in no event later than the fourth London Business Day thereafter. Each Interest Amount and Interest Payment Date so notified may subsequently be amended (or appropriate alternative arrangements made by way of adjustment) without prior notice in the event of an extension or shortening of the Interest Period. Any such amendment will be promptly notified to each stock exchange on which the relevant Floating Rate Notes or Index Linked Interest Notes are for the time being listed and to the Noteholders in accordance with Condition 15. For the purposes of this paragraph, the expression “