Delayed Payment Interest Clause Samples
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Delayed Payment Interest. The Delayed Payment Interest (if any) of the Partnership for such fiscal year shall be allocated to all Partners (other than, with respect to each payment, the Partner or Partners liable to pay such interest (who shall not receive any allocation of the interest paid by them)) in proportion to their respective Contributions in the same manner as Net Profit.
Delayed Payment Interest. An amount not exceeding Four (4) per cent over and above the applicable Rate of Interest.
Delayed Payment Interest. In case of late payment, a penalty of 8% will be added to the invoiced amount. The legal delayed payment interest will also be applied from the time when payment becomes due until when it is received.
Delayed Payment Interest. 2.8.1 Notwithstanding any other rights or remedies available to it under this Agreement or Applicable Law, where an amount has become due under this Agreement, but has not been paid within the Payment Date, the same shall carry Delayed Payment Interest as such rate as specified in the Schedule II. The Delayed Payment Interest shall be payable forthwith and shall form a part of sums due under this Agreement. The Borrower agrees that the Delay Payment Interest contemplated herein is a fair and reasonable estimate of the loss likely to be suffered by the Lender on account of the delay/default on the part of the Borrower. The payment of the Delay Payment Interest shall not absolve the Borrower of other obligations in respect of such default or affect any other rights that the Lender in respect of the delay/default.
Delayed Payment Interest. In case of any delay of any payment or part thereof, due and payable under this Agreement from the Allottee, including but not limited to the installments of the Entire Consideration as per the Forth Schedule and the terms mentioned herein, then notwithstanding and/or without prejudice to the Promoter’s rights of termination of this Agreement, the Allottee shall be liable to pay interest at Specified Interest Rate i.e., SBI MCLR + 2 %