INTEREST ON UNPAID DUE AMOUNT Sample Clauses

INTEREST ON UNPAID DUE AMOUNT. ­ Without prejudice to the right of the Promoter to take action for breach arising out of delay in payment of the instalments on the due dates, the Allottee/s shall be bound and liable to pay interest as per State Bank of India highest Marginal Cost of Lending Rate plus 2 % per annum, with monthly rests, on all the amounts which become due and payable by the Allottee/s to the Promoter till the date of actual payment, provided that tender of the principal amounts and interest or tender of the interest and expenses thereof shall not itself be considered as waiver of the right of the Promoter under this Agreement, nor shall it be construed as condonation of delay by the Promoter. The amount of interest may be informed to the allottee/s from time to time or on completion of the said project/apartment, and the allottee/s has/have agreed to pay the same as and when demanded before the possession of the said apartment.
Sample 1
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INTEREST ON UNPAID DUE AMOUNT. (a)Without prejudice to the right of the Promoter to take action for breach arising out of delay in payment of the installments on the due dates, the Allottee/s shall be bound and liable to pay interest as per State Bank of India is highest Marginal Cost of Lending Rate plus 2 % per annum, with quarterly rests, on all the amounts which become due and payable by the Allottee/s to the Promoter till the date of actual payment.
Sample 1
INTEREST ON UNPAID DUE AMOUNT. Without prejudice to the right of the Promoter to take action for breach arising out of delay in payment of the Installments on the due dates, the Allottee/s shall be bound and liable to pay interest as per State Bank of India highest Marginal Cost of Lending Rate + 2% per annum with monthly rests, on all the amounts which become due and payable by the Allottee to the Promoter till the date of Actual Payment.
Sample 1
INTEREST ON UNPAID DUE AMOUNT. Without prejudice to the right of the Promoter to take action of breach arising out of the delay in the payment of the installments on the due dates the Allottee/s shall be bound and liable to pay interest as specified in the rules on all the amounts which become due and payable by the Allottee/s to the Promoter till the date of actual payment, provided that tender of the principal amounts and interest or tender of the interest and expenses thereof shall not itself be considered as waiver of the right of the Promoter under this agreement nor shall it be construed as condonation of the delay in payments by the Promoter against delay by the Allottee/s. Similarly, if the Promoter fails to abide by the time schedule for completing the project and handing over the unit to the Allottee/s, the Promoter agrees to pay to the Allottee/s, who does not intend to withdraw from the project, interest as specified in the rules, on all amounts paid by the Allottee/s, for every month of delay, till the handing over of the possession.
Sample 1

Related to INTEREST ON UNPAID DUE AMOUNT

  • Interest on Unpaid Amounts Any amount which has become payable pursuant to the terms of this Agreement or any decision by arbitrators or judgment by a court of law pursuant to this Section 11 but which has not been timely paid shall bear interest at the prime rate in effect at the time such amount first becomes payable, as quoted by the Bank, except as otherwise provided in Sections 5(g), 6(d) and 7(g) of this Agreement (concerning interest payable with respect to certain delayed payments that are subject to Section 409A of the Code).

  • Interest on Unpaid Balances Interest on any unpaid amount (including amounts placed in escrow) shall be calculated in accordance with the method specified for interest on refunds in the Commission’s regulations at 18 C.F.R. § 35.19a (a)(2)(iii). Interest on unpaid amounts shall be calculated from the due date of the xxxx to the date of payment. Invoices shall be considered as having been paid on the date of receipt of payment.

  • Interest on Overdue Amounts 22.1 Any Licence Fee which is payable and remains unpaid for a period in excess of 30 (thirty) days from the date of the invoice, will attract interest at the current legal rate, calculated in accordance with the interest rate prescribed by the Minister of Justice in accordance with the Prescribed Rate of Interest Act 55 of 1975, as amended.

  • 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:

  • Interest on Overdue Payments (a) If, for any reason, a Party does not pay an amount payable under or in connection with this Agreement on or before the due date for payment, it must pay interest to the other Party (who is entitled to receive the payment).

  • 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 Loans (a) Except as otherwise set forth herein, each Class of Loan shall bear interest on the unpaid principal amount thereof from the date made through repayment (whether by acceleration or otherwise) thereof as follows:

  • Interest on Arrears Any interest instalment unpaid on maturity shall yield interest, of right and without formal notice, at the same rate as applicable to the portion of the loan whose interest is unpaid on maturity, such interest being payable to the Lender on request.

  • Interest on Delinquent Payments Without waiving any other right or action available to Authority, in the event of default of Company's payment of Rents or other charges hereunder, and in the event Company is delinquent in paying to Authority any Rents or other charges for a period of five (5) days after the payment is due, Authority reserves the right to charge Company interest thereon from the date the Rents or other charges became due to the date of payment at one and one-half percent (1.5%) per month, to the maximum extent permitted by Applicable Law.

  • Interest on Advances Each Borrower shall pay interest on the unpaid principal amount of each Advance made to such Borrower by each Bank from the date of such Advance until such principal amount shall be paid in full, at the following rates per annum:

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