Interest on Past Due Bills Sample Clauses

Interest on Past Due Bills. Any payments required to be made under this Agreement that are not paid when due (and any overpayments) shall bear interest, accrued daily from the due date to the date of payment (or from the date of payment until the date of refund in the case of overpayments), at the lesser of (a) the annual rate of five percent plus the Prime Rate as reported in the Money Rates column of The Wall Street Journal on the last Business Day of the preceding Month, as the rate may from time to time change, or (b) the maximum rate of interest permitted by Applicable Law. Notwithstanding the provisions for calculating interest on late payments, a failure to make payment when due shall be a default under this Agreement by the non-paying Party to the extent provided in Sections 11.5 and 11.6.
Sample 1
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Interest on Past Due Bills. Any bills rendered by Company hereunder (specifically excluding any xxxxxxxx for construction or maintenance power and energy) which are not paid when due and any payments due by Company to Cogenerator pursuant to Article VII which are not paid when due shall bear interest, compounded monthly, from the due date until paid, at the Commercial Paper Rate.
Sample 1
Interest on Past Due Bills. Any bills sent by TU Electric to Producer under this Agreement that are not paid when due and any payments due by TU Electric to Producer that are not paid when due bear interest, compounded monthly, from the due date until paid, at the Commercial Paper Rate in effect on the first Business Day of each calendar month in which interest accrues. "Commercial Paper Rate" means the lesser of (i) the rate published weekly in the Federal Reserve Statistical Release for "one month commercial paper" or (ii) the highest rate permitted by applicable law. If the Federal Reserve Statistical Release is not published or is otherwise not available, then a weekly average rate must be determined from the Wall Street Journal for high grade unsecured notes sold through dealers by major corporations or another recognized financial publication for similar instruments. In computing the highest rate allowed by applicable law, the indicated rate ceiling computed under Article 5069-1.04(a)(1) of the Texas Revised Civil Statutes applies.
Sample 1

Related to Interest on Past Due Bills

  • Interest on Past Due Amounts In addition to the late charge described in Article 14 below, if any installment of Annual Basic Rent or Additional Rent is not paid promptly when due, it shall bear interest at the Default Rate; provided, however, this provision shall not relieve Tenant from any default in the making of any payment at the time and in the manner required by this Lease; and provided, further, in no event shall the Default Rate exceed the maximum rate (if any) permitted by applicable law.

  • INTEREST ON PAST-DUE OBLIGATIONS Except as expressly herein provided, any amount due to Lessor not paid when due shall bear interest at the maximum rate then allowable by law from the date due. Payment of such interest shall not excuse or cure any default by Lessee under this Lease, provided, however, that interest shall not be payable on late charges incurred by Lessee nor on any amounts upon which late charges are paid by Lessee.

  • Interest on Overdue Payments Without limiting the rights of Executive at law or in equity, if the Company fails to make the Lump-Sum Payment or any Gross-Up Payment on a timely basis, the Company shall pay interest on the amount thereof at an annualized rate equal to the rate in effect, at the time such payment should have been made, under the 401(k) Plan for loans to participants in such plan.

  • Interest on Overdue Amounts (a) If an Obligor fails to pay any amount payable by it under the Finance Documents, it must immediately on demand by the Facility Agent pay interest on the overdue amount from its due date up to the date of actual payment, both before, on and after judgment.

  • Interest on Payments Any payment by the Receiver pursuant to Section 2.6(d) shall be made together with interest on the amount thereof that accrues with effect from five (5) Business Days after the date on which payment was agreed or determined to be due until such amount is paid. The annual interest rate shall be determined by the Receiver based on the coupon equivalent of the three (3)-month U.S. Treasury Xxxx Rate in effect as of the first Business Day of each Calendar Quarter during which such interest accrues as reported in the Federal Reserve Board Statistical Release for Selected Interest Rates H.15 opposite the caption “Treasury bills (secondary market), 3-Month” or, if not so reported for such day, for the next preceding Business Day for which such rate was so reported.

  • Interest on Late Payments With respect to any payment between the Parties pursuant to this Agreement not made by the due date set forth in this Agreement for such payment, the outstanding amount will accrue interest at a rate per annum equal to the rate in effect for underpayments under Section 6621 of the Code from such due date to and including the payment date.

  • Interest on Loans (a) Subject to the provisions of Section 2.08, each ABR Loan shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 days or 366 days in a leap year) at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin.

  • Interest on Term Loans The outstanding principal amount of each Term Loan made by each Lender shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as such Term Loan is a Base Rate Loan, the Base Rate plus the Applicable Margin in effect from time to time, and (ii) during such periods as such Term Loan is a Eurodollar Loan, the relevant Adjusted Eurodollar Rate for such Eurodollar Loan for the applicable Interest Period plus the Applicable Margin in effect from time to time.

  • Interest on Term Loan The Credit Agreement is hereby further amended by deleting ss.4.5.1. thereto in its entirety and substituting in lieu thereof the following new ss.4.5.1.:

  • Payment of default interest on overdue amounts The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is:

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