Interest and Payments Sample Clauses
The 'Interest and Payments' clause defines the terms under which interest is calculated and payments are made between parties in a contract. It typically specifies the interest rate applied to overdue amounts, the timing and method of payments, and any penalties for late payment. For example, if a payment is not received by the due date, a specified interest rate may accrue on the outstanding balance until it is paid. This clause ensures that both parties understand their financial obligations and provides a mechanism to encourage timely payments, thereby reducing the risk of disputes over late or missed payments.
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Interest and Payments. The rate at which the Notes shall bear interest shall be 6 3/8%. With respect to the Series A Notes, interest shall accrue from the date hereof. With respect to the Series B Notes, the date from which interest shall accrue shall be the date on which interest was most recently paid on the Series A Notes, or if there has been no Interest Payment Date relating to the Series A Notes prior to the issuance of the Series B Notes, interest shall accrue from the date hereof. The Interest Payment Dates for the Notes on which interest will be payable shall be April 15 and October 15 of each year, beginning October 15, 2004; the Regular Record Dates for the interest payable on the Notes on any Interest Payment Date shall be April 1 with respect to the April 15 Interest Payment Date and October 1 with respect to the October 15 Interest Payment Date. Interest on overdue principal and premium, if any, shall be at a rate of 2% per annum in excess of the rate then in effect; interest on overdue installments of interest and Special Interest, if any, from time to time, shall be at the same rate, to the extent lawful; and the basis upon which interest shall be calculated shall be that of a 360-day year consisting of twelve 30-day months. The place where the principal of (and premium, if any) and interest (including Special Interest, if any) on the Notes shall be payable and the Notes may be surrendered for the registration of transfer or exchange shall be the Corporate Trust Office of the Trustee which, as of this writing, is located at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: Corporate Trust Administration. The place where notices or demands to or upon the Company in respect of the Notes and this Fifteenth Supplemental Indenture may be served shall be the Corporate Trust Office of the Trustee. In addition, payment of interest (including Special Interest, if any) on any Note may, at the option of the Company, be made by check mailed to the address of the Person in whose name the Note is registered at the close of business on the Regular Payment Date; provided, however, that all payments of principal, and premium (including Special Interest, if any), if any, and interest on the Notes to Holders of which have given wire instructions to the Company or the Paying Agent at least 10 Business Days prior to the applicable payment date shall be made by wire transfer to an account maintained by such Holder entitled thereto as specified by such Holder in the inst...
Interest and Payments. Borrower shall make payments in accordance with the Note at the rates set forth in the Note.
Interest and Payments. 5 (a) Interest....................................................5 (b) Payments....................................................6
Interest and Payments. The outstanding principal balance of this Note shall bear interest, from the date of each Advance made by Lender until repaid in full, at the rate specified in the Credit Agreement, which interest shall be due and payable, in arrears, as provided in the Credit Agreement. Principal payments shall be due and payable as provided in the Credit Agreement. Upon the Term Loan Maturity Date or upon the earlier termination of the Credit Agreement, the entire outstanding principal balance of this Note, together with all accrued but unpaid interest thereon and all other sums due hereunder, shall be due and payable in full. The Borrower shall have the right to prepay the outstanding principal balance of this Note, together with all accrued but unpaid interest thereon and all other sums due hereunder, in full or in part, as set forth in the Credit Agreement. All payments of principal, interest and any other sums on this Note due from the Borrower to Lender shall be made to Lender in lawful money of the United States of America in the manner set forth in the Credit Agreement.
Interest and Payments. Interest shall accrue and be paid to Lender on --------------------- the outstanding and unpaid principal amount of the Loan at the rate of 4.98% per annum, computed on the basis of the actual number of days elapsed and a year of 360 days consisting of twelve 30 day months. Payments of principal and interest will be made to Lender in the manner specified in the Convertible Subordinated Note.
Interest and Payments. The Note shall bear interest at the rate of twelve percent (12%) per annum. Interest only shall be payable for the first four (4) years of the Note, with the principal being amortized over the following six (6) year period.
Interest and Payments. Subject to Clause 21.14, if any party fails to pay any monies due to the other(s) within five Working Days after the date upon which the same shall fall due under this Agreement then whether before or after any Court judgment the paying party shall pay the payee interest thereon at the Prescribed Rate calculated on a daily basis from the date such monies became due until the date upon which the payee shall receive the same.
Interest and Payments. (a) Borrower promises to pay interest on the outstanding principal amount of the Term Loan from the date of funding of the Term Loan until such principal amount is irrevocably paid in full in cash. Interest on the outstanding principal amount of the Term Loan shall be due and payable monthly in arrears on the first calendar day of each calendar month, commencing December 1, 2003, at an annual rate of the Prime Rate plus 3.5%, calculated on the basis of a 360-day year and for the actual number of calendar days elapsed in each interest calculation period; provided, however, that, notwithstanding, any other provision of this Note or any other Loan Document, the interest on the outstanding Term Loan shall be not be less than 9.0%.
(b) Interest and other Obligations payments shall be made automatically, when due, by the application of funds advanced under the Revolving Facility in accordance with the provisions of the Loan Agreement. Any payments of principal or interest or other amounts on or payments under this Note not paid automatically through Advances as provided in the Loan Agreement shall be paid to Lender, only by wire transfer on the date when due, without offset or counterclaim, in Dollars in immediately available funds as required in the Loan Agreement. Notwithstanding and without limiting or being limited by any other provision of this Note, any payments or prepayments received upon termination (as defined in the Loan Agreement) or otherwise under this Note shall be credited and applied in such manner and order as is set forth in Section 2.5 of the Loan Agreement.
Interest and Payments. The Borrower shall repay, and shall pay interest on, the aggregate unpaid principal amount of all Advances and the Term Loan in accordance with the Notes, except that after and during the continuance of an Event of Default the Borrower shall pay interest at an annual rate equal to 2.0% in excess of the rate of interest otherwise provided under the Notes. All payments of principal, interest and fees under this Agreement shall be made when due to the Bank in immediately available funds. All computations of interest shall be made by the Bank on the basis of the actual number of days elapsed in a year of 360 days. Whenever any such payment shall be due on a non-Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall be included in the computation of interest. The Bank is expressly authorized to charge any principal or interest payment, when due, to the Borrower's demand deposit account maintained at the Bank, or, if that account shall not contain sufficient funds, to any other account maintained by the Borrower at the Bank.
Interest and Payments. The outstanding principal balance of this Note shall bear interest, from the date of each Advance made by Lender until repaid in full, (i) in the case of Base Rate Loans, at a per annum rate of interest equal to the Base Rate plus the Base Rate Margin and (ii) in the case of LIBOR Rate Loans, at a per annum rate of interest equal to the applicable LIBOR Rate plus the LIBOR Rate Margin, in each case as specified in the Credit Agreement, which interest shall be due and payable, quarterly in arrears, as provided in the Credit Agreement. Upon the Maturity Date or earlier upon termination of the Credit Agreement, the entire outstanding principal balance of this Note, together with all accrued but unpaid interest thereon and all other sums due hereunder, shall be due and payable in full. The Borrower shall have the right to prepay the outstanding principal balance of this Note, together with all accrued but unpaid interest thereon and all other sums due hereunder, in full or in part, as set forth in the Credit Agreement. All payments of principal, interest and any other sums on this Note due from the Borrower to Lender shall be made to Lender in lawful money of the United States of America in the manner set forth in the Credit Agreement.