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 Payments. Without limiting the rights of the Executive at law or in equity, if the Company fails to make any payment required to be made hereunder on a timely basis, the Company shall pay interest on the amount thereof on demand at an annualized rate of interest equal to the Prime Rate as reported in the Money Rates section of The Wall Street Journal (or in the successor to such section or, if there is no such successor section, the most comparable Prime Rate), compounded daily (but in no event shall such interest exceed the highest lawful rate).
Interest on Payments. Except as otherwise expressly provided in this Agreement, all payments by one party to the other under this Agreement or any Ancillary Agreement shall be paid, by wire transfer of immediately available funds to an account in the United States designated by the recipient, within [thirty (30)] days after receipt of an invoice or other written request for payment setting forth the specific amount due and a description of the basis therefor in reasonable detail. Any amount remaining unpaid beyond its due date, including disputed amounts that are ultimately determined to be payable, shall bear interest at a floating rate of interest equal to the prime commercial lending rate publicly announced by BankBoston, N.A. or any successor thereto at its principal office (or any alternative rate substituted therefor by such bank).
Interest on Payments. To the extent any payment obligation under this Section 10 or Article 9 is not made on a timely basis (as determined by the relevant provision of this Section 10 or the relevant provision of Article 9), the amount due and payable shall bear interest at a floating annual rate equal to the annual prime lending rate of The Chase Manhattan Bank in effect, from time to time, from the last date such payment would be timely under the relevant provision of this Section 10 or Article 9, as applicable, to the date of the payment of such amount.
Interest on Payments. Each Borrower hereby agrees that it shall pay interest on the amount of each payment, loss, cost and expense made, suffered or incurred from time to time by the Working Capital Bank under or by reason or in consequence of any Bank Guarantee issued for its account from and including the date upon which such payment, loss, cost or expense is made, suffered or incurred as aforesaid up to and including the date upon which payment or reimbursement of such amount is demanded from such Borrower which demand shall be made promptly by the Working Capital Bank upon it making the relevant payment or, as the case may be, becoming aware of the relevant loss, cost or expense. The amount of such interest shall be calculated in accordance with Clause 9.2.6. For the avoidance of doubt, interest on sums demanded under the provisions of this Clause 6.11 shall also accrue in accordance with Clause 9.2.6.
Interest on Payments. All payments to be made pursuant to this Agreement outstanding after the applicable due date shall, commencing after such date until paid, bear interest at the Interest Rate, which rate, the Parties agree, shall be equally applicable to both Parties’ late payment obligations.
Interest on Payments. Except as expressly provided to the contrary in this Agreement or in any other Transaction Document, any amount not paid when due pursuant to this Agreement shall accrue interest at 3% per annum, or, if less, the maximum interest rate allowable under applicable Law in the applicable jurisdiction, compounded quarterly. Notwithstanding the foregoing, at no time shall any Party be obligated pursuant to the foregoing sentence to pay interest at a rate exceeding the maximum interest rate allowable under applicable Law in any applicable jurisdiction. If, by the terms of such foregoing sentence, any Party would otherwise be obligated at any time to pay interest at a rate in excess of the such maximum interest rate in such applicable jurisdiction, the interest payable shall be recomputed and reduced to such maximum interest rate, and the portion of all prior interest payments exceeding such maximum rate shall be applied to payment of the underlying principal amount.
Interest on Payments. Each Borrower shall pay to the Facility Agent for the account of the Issuing Bank or the account of the Banks, as the case may be, interest on the amount of each payment, loss, cost and expense made, suffered or incurred by the Issuing Bank or any Bank under or by reason of any Bank Guarantee issued by the Issuing Bank and any Bank Indemnity from and including the date upon which such payment, loss, cost or expense is made, suffered or incurred up to and including the date upon which payment or reimbursement of such amount is demanded from that Borrower. The amount of such interest shall be calculated in accordance with Clause 6.4 (Default interest). For the avoidance of doubt, interest on sums demanded under Clause 4.14 (Counter indemnity for the Banks) shall also accrue in accordance with Clause 6.4 (Default interest).
Interest on Payments. In the event that any payment due pursuant to this Agreement, including research payments, license fees and royalties, is not made when due, the payment shall accrue interest from the date due until paid at the rate of one percent (1%) per month; provided, however, that in no event shall such rate exceed the maximum legal annual interest rate. The payment of such interest shall not limit SIGNAL's right to exercise any other rights it may have as a consequence of the lateness of any payment.