Bonus Interest Sample Clauses

Bonus Interest. In addition to Base Interest, Borrower shall pay Lender additional interest on the outstanding principal balance of the Loans at an annual rate of 5.3% ("BONUS INTEREST"), which shall be due and payable with respect to the Current Quarter within 30 days of the close of the Current Quarter to the extent of Cash Available for Debt Service for the Current Quarter only after payment of Base Interest for the Current Quarter. Bonus Interest which is unpaid shall accrue without further interest but shall not be added to the outstanding principal balance of the Loans or be considered in calculating Base Interest. Accrued Bonus Interest shall be payable quarterly solely from Cash Available for Debt Service for the Current Quarter only after payment of Base Interest and Bonus Interest for the Current Quarter. Anything to the contrary herein notwithstanding, the aggregate Bonus Interest payable under this Agreement shall in no event exceed the Cash Available for Debt Service on or before the Maturity Date after payment of all accrued Base Interest and any Accrued Bonus Interest which is not paid from Cash Available for Debt Service on or before the Maturity Date, shall not be due or payable.
Sample 1
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Bonus Interest. In consideration of the maintenance and continuation of the Credit Facility, the relaxation and amendment of certain covenants as set out hereunder, and the extension of the Credit Facility Maturity Date (which the Borrower acknowledges that it and each other Loan Party will receive benefit from), and concurrent with the Effective Date, the Borrower will pay bonus interest to the Lenders in the amount of $500,000 (the "Bonus Interest") net of any and all applicable withholding taxes, being 1.00% of the aggregate total of the Commitments as of the Effective Date, payable in the form of 588,235 common shares in the capital of the Borrower (the "Bonus Shares"). The Canadian dollar equivalent of the Bonus Interest will be determined by multiplying the amount of $500,000 by the daily average exchange rate for the conversion of U.S. to Canadian dollars set by the Bank of Canada as at the Business Day immediately prior to the date of issuance of the Bonus Shares. The Bonus Shares shall be payable to Sprott Resource Lending II (Collector), LP, or as Sprott Resource Lending II (Collector), LP may direct in writing, in accordance with its Commitment and shall be subject to a hold period under applicable Canadian legislation of four months and one day from their date of issue and not less than six months from their date of issue under applicable U.S. law. For certainty, Evanachan Limited has waived any requirement for or entitlement to any additional interest whether in the form of Bonus Interest or otherwise. Sprott Resource Lending II (Collector), LP understands and agrees that the Bonus Shares have not been registered under the United States Securities Act and may not be offered or sold in the United States or to any U.S. Person unless the securities are registered under the United States Securities Act or an exemption from the registration requirements of the United States Securities Act is available and that Borrower will refuse to transfer the Bonus Shares except in accordance with the foregoing provisions. As a condition precedent to the issue of the Bonus Shares, the Borrower shall have received an investor certificate from each Lender in the form attached hereto as Schedule "Y".
Sample 1
Bonus Interest. If you maintain an average ledger cycle-to-date balance of $10,000 or more in a Commercial Checking account, you will receive a bonus interest rate of 10 basis points above the current offered market rate for the Premier Business Money Market account. This bonus interest rate is subject to change without notice. Please allow three business days for initial enrollment into the bonus rate program. Once enrolled in the bonus rate program, your account will be evaluated for the interest rate adjustment three days prior to the statement cycle date. If the account meets eligibility criteria to receive the bonus interest rate, it will be applied for the following cycle. For more information, please speak with your account officer. ** For savings and/or money market accounts, you are permitted to make up to six transfers and withdrawals or any combination thereof per statement cycle (or similar period of at least 4 weeks) by means of a preauthorized or automatic transfer, withdrawal by check, draft, debit card or transfer or withdrawal by online bill pay or telephonically. These limitations are applied according to the date when the transaction is posted to the account and not the date when the check is written or the transfer is authorized. The limits do not apply to withdrawals made at a branch, by ATM or by mail.
Sample 1
Bonus Interest. Should the Company complete a transaction for the sale of substantially all of the assets or stock of the Company prior to the Maturity Date, the Holder shall be entitled to bonus interest of fifty percent (50%) of the face amount of the Note.
Sample 1
Bonus Interest. So long as any portion of the Note remains outstanding the Company shall pay to the Holder an amount equal to one-third (1/3) of Excess Cash Flow for such calendar quarter.
Sample 1
Bonus Interest. If you maintain an average ledger cycle-to-date balance of $10,000 or more in a Simple Business Checking account or in a Commercial Checking account, you will receive a bonus interest rate of 10 basis points above the current offered market rate for the Premier Business Money Market account. This bonus interest rate is subject to change without notice. Please allow three businessdays for initial enrollment into the bonus rate program. Once enrolled in the bonus rate program, your account will be evaluated for the interest rate adjustment three days prior to the statement cycle date. If the account meets eligibility criteria to receive the bonus interest rate, it will be applied for the following cycle. For more information, please speak with your account officer. **For savings and/or money market accounts, you are permitted to make up to sixtransfers and withdrawals or any combination thereof per statement cycle (or similar period of at least 4 weeks) by means of a preauthorized or automatic transfer, withdrawal by check, draft, debit card or transfer or withdrawal by online bill pay or telephonically. These limitations are applied according to the date when the transaction is posted to the account and not the date when the check is written or the transfer is authorized. The limits do not apply t o withdrawals made at a branch, by ATM or by mail. If these limits are exceeded on 3 monthly statement cycles during a period of 12 consecutive months, the account will be reclassified as a non-interest bearing Popular Business Checking Account.
Sample 1

Related to Bonus Interest

  • Payments; Interest Any amount payable to any Indemnitee on account of a Claim shall be paid within 30 days after receipt by Company of a written demand therefor from such Indemnitee accompanied by a written statement describing in reasonable detail the Claims that are the subject of and basis for such indemnity and the computation of the amount payable. Any payments made pursuant to this Section 4.02 directly to an Indemnitee or to Company, as the case may be, shall be made in immediately available funds at such bank or to such account as is specified by the payee in written directions to the payor or, if no such directions are given, by check of the payor payable to the order of the payee and mailed to the payee by certified mail, return receipt requested, postage prepaid to its address referred to in Section 7.01. To the extent permitted by applicable law, interest at the Past Due Rate shall be paid, on demand, on any amount or indemnity not paid when due pursuant to this Section 4.02 until the same is paid. Such interest shall be paid in the same manner as the unpaid amount in respect of which such interest is due.

  • Maximum Interest Notwithstanding anything in this Subordinated Note to the contrary, the Buyer shall never be required to pay unearned interest on any amount outstanding hereunder and shall never be required to pay interest on the principal amount outstanding hereunder at a rate in excess of the maximum nonusurious interest rate that may be contracted for, charged or received under applicable federal or state law (such maximum rate being herein called the “Highest Lawful Rate”). If the effective rate of interest which would otherwise be payable under this Subordinated Note would exceed the Highest Lawful Rate, or if the holder of this Subordinated Note shall receive any unearned interest or shall receive monies that are deemed to constitute interest which would increase the effective rate of interest payable by the Buyer under this Subordinated Note to a rate in excess of the Highest Lawful Rate, then (i) the amount of interest which would otherwise be payable by the Buyer under this Subordinated Note shall be reduced to the amount allowed by Applicable Law, and (ii) any unearned interest paid by the Buyer or any interest paid by the Buyer in excess of the Highest Lawful Rate shall be refunded to the Buyer. Without limitation of the foregoing, all calculations of the rate of interest contracted for, charged or received by the Originator under this Subordinated Note that are made for the purpose of determining whether such rate exceeds the Highest Lawful Rate applicable to the Originator (such Highest Lawful Rate being herein called the “Originator’s Maximum Permissible Rate”) shall be made, to the extent permitted by usury laws applicable to the Originator (now or hereafter enacted), by amortizing, prorating and spreading in equal parts during the actual period during which any amount has been outstanding hereunder all interest at any time contracted for, charged or received by the Originator in connection herewith. If at any time and from time to time (i) the amount of interest payable to the Originator on any date shall be computed at the Originator’s Maximum Permissible Rate pursuant to the provisions of the foregoing sentence and (ii) in respect of any subsequent interest computation period the amount of interest otherwise payable to the Originator would be less than the amount of interest payable to the Originator computed at the Originator’s Maximum Permissible Rate, then the amount of interest payable to the Originator in respect of such subsequent interest computation period shall continue to be computed at the Originator’s Maximum Permissible Rate until the total amount of interest payable to the Originator shall equal the total amount of interest which would have been payable to the Originator if the total amount of interest had been computed without giving effect to the provisions of the foregoing sentence.

  • Excess Interest Notwithstanding any provision to the contrary contained herein or in any other Loan Document, no such provision shall require the payment or permit the collection of any amount of interest in excess of the maximum amount of interest permitted by applicable law to be charged for the use or detention, or the forbearance in the collection, of all or any portion of the Loans or other obligations outstanding under this Agreement or any other Loan Document (“Excess Interest”). If any Excess Interest is provided for, or is adjudicated to be provided for, herein or in any other Loan Document, then in such event (a) the provisions of this Section shall govern and control, (b) neither the Borrower nor any guarantor or endorser shall be obligated to pay any Excess Interest, (c) any Excess Interest that the Administrative Agent or any Lender may have received hereunder shall, at the option of the Administrative Agent, be (i) applied as a credit against the then outstanding principal amount of Obligations hereunder and accrued and unpaid interest thereon (not to exceed the maximum amount permitted by applicable law), (ii) refunded to the Borrower, or (iii) any combination of the foregoing, (d) the interest rate payable hereunder or under any other Loan Document shall be automatically subject to reduction to the maximum lawful contract rate allowed under applicable usury laws (the “Maximum Rate”), and this Agreement and the other Loan Documents shall be deemed to have been, and shall be, reformed and modified to reflect such reduction in the relevant interest rate, and (e) neither the Borrower nor any guarantor or endorser shall have any action against the Administrative Agent or any Lender for any damages whatsoever arising out of the payment or collection of any Excess Interest. Notwithstanding the foregoing, if for any period of time interest on any of Borrower’s Obligations is calculated at the Maximum Rate rather than the applicable rate under this Agreement, and thereafter such applicable rate becomes less than the Maximum Rate, the rate of interest payable on the Borrower’s Obligations shall remain at the Maximum Rate until the Lenders have received the amount of interest which such Lenders would have received during such period on the Borrower’s Obligations had the rate of interest not been limited to the Maximum Rate during such period.

  • Late Charge; Interest Tenant acknowledges that the late payment of Base Rent or any other amounts payable by Tenant to Landlord hereunder (all of which shall constitute additional rental to the same extent as Base Rent) will cause Landlord to incur administrative costs and other damages, the exact amount of which would be impracticable or extremely difficult to ascertain. Landlord and Tenant agree that if Landlord does not receive any such payment on or before five (5) days after the date the payment is due, Tenant shall pay to Landlord, as additional rent, (a) a late charge equal to five percent (5%) of the overdue amount to cover such additional administrative costs; and (b) interest on the delinquent amounts at the lesser of the maximum rate permitted by law if any or twelve percent (12%) per annum from the date due to the date paid.

  • 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).

  • Payment of Principal, Premium, if any, and Interest The Company covenants and agrees for the benefit of the Holders of the Securities that it will duly and punctually pay the principal of and any premium and interest (including any Additional Interest) on the Securities in accordance with the terms of the Securities and this Indenture.

  • Minimum Interest In no event shall the rate of interest chargeable hereunder for any day be less than 7.0% per annum. To the extent that interest accrued hereunder at the rate set forth herein would be less than the foregoing minimum daily rate, the interest rate chargeable hereunder for such day automatically shall be deemed increased to the minimum rate.

  • Unconditional Right of Securityholders to Receive Principal, Premium and Interest Notwithstanding any other provisions in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of (and premium, if any) and (subject to Section 3.07) interest on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption or repayment, on the Redemption Date or Repayment Date, as the case may be) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

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