Contractual Interest Clause Samples
Contractual Interest. Maximum contractual interest rate published by the Central Bank of the Republic of Turkey as of the date of signature of this Agreement will be applied as a contractual interest rate per month (maximum contractual interest rate published by the Central Bank of the Republic of Turkey as of the date of signature of this Agreement x 12 = contractual interest rate per annum). Credit card contractual interest rate per month (excluding RUSF and BITT) is 2.02%.
Contractual Interest. Contractual Interest is any interest and other fees that the Insured Buyer is legally bound to pay the Insured pursuant to a Supply Chain Finance Facility, excluding always any interest payable beyond the earliest to occur of the following events, namely:
a) the elapsing of the Protracted Default Period; or
b) the occurrence of Insolvency; or
c) the payment of a claim on that Insured Buyer by the Insurer (the time for the payment to reach the Insured will not be counted); and provided always that the interest rate and other fees applicable for the purpose of this definition will be exclusive of any element of penalty or increase in consequence of the relevant Insured Buyer’s non-payment on the original contracted due date or breach of any covenant pertaining to the Supply Chain Finance Facility. For the avoidance of any doubt, cover for all contractual interest together with the principal amount due, will be subject to the one Credit Limit Endorsement issued in respect of the relevant Insured Buyer.
Contractual Interest. The interest which the Lender would have received for the period from the date of receipt of such amount to the last day of the current Interest Period in respect of the Loan or overdue amount in question, if such amount had been paid on the last day of that Interest Period.
Contractual Interest. The repayment plan indicated in Article 2.1 (until November 2016) is not subject to interest.