Interest Provision Sample Clauses

An Interest Provision clause sets out the terms under which interest will accrue on outstanding amounts owed between parties. Typically, it specifies the applicable interest rate, the method of calculation (such as simple or compound interest), and the circumstances that trigger interest, such as late payments or overdue invoices. By clearly defining these terms, the clause incentivizes timely payments and compensates the party owed money for the delay, thereby reducing disputes and financial uncertainty.
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Interest Provision. The Contractor and SCDHHS further agree that, in addition to the amount disallowed by audit being repaid to SCDHHS in accordance with this Section, the Contractor shall pay interest on the disallowed amount with said interest accruing from the thirtieth (30th) calendar day following the date of receipt by the Contractor of the final audit report. The interest to be paid by the Contractor to SCDHHS shall be at the current prime rate plus two percentage (2%) points as established on the thirtieth (30th) calendar day following the issuance of the final report.
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Interest Provision. The Parties further agree that, in addition to any amounts disallowed by audit to be repaid to SCDHHS in accordance with this Section VII.B.3, the Party required to make such payment shall pay interest on the amount required to be paid with said interest accruing from the thirtieth (30th) calendar day following the date of receipt by the audited party of the final audit report. The interest to be paid pursuant to this provision shall be at the current prime rate plus two percentage (2%) points as established on the thirtieth (30th) calendar day following the issuance of the final report.
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Interest Provision. I shall reimburse you all amounts advanced and other balances due shall be charged interest in accordance with your usual custom, which may include the compounding of interest including any increases in reflect overdraft commercial bank and such other charges as you make to cover your facilities and extra services.
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Interest Provision. 13.1. All amounts advanced and other balances due by me to ▇▇▇▇▇▇▇▇, shall be charged interest in at the in accordance with the rate of interest charged by ▇▇▇▇▇▇▇▇, and the terms and conditions of applying such interest, as notified by ▇▇▇▇▇▇▇▇ to its clients from time to time. Such terms and conditions may include the compounding of interest, increases in rates which reflect adjustments in the prevailing overdraft rate at ▇▇▇▇▇▇▇▇’▇ commercial bank, and such other costs and charges as ▇▇▇▇▇▇▇▇ may incur and/or charge in connection with this clause (including extra services and facilities ▇▇▇▇▇▇▇▇ may have to provide). 13.2. Payment of all amounts advanced and other balances due, together with the interest thereon, shall be made by me to ▇▇▇▇▇▇▇▇ at any of its offices, and by so doing such amounts shall be deemed paid to ▇▇▇▇▇▇▇▇.
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Interest Provision. All amounts advanced and other balances due shall be charged interest in accordance with rates from time to time charged by FHCIL and notified to its clients, as well as such other charges as FHCIL may make to cover its facilities and any additional services.
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Interest Provision. The interest provision of the Note shall remain at Prime plus 150 basis points. This is a variable rate adjusting each time a change in the Prime Rate occurs.
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Interest Provision. It is expressly stipulated and agreed to be the intent of each Borrower, the Administrative Agent and each Lender at all times to comply strictly with the applicable Law governing the maximum rate or amount of interest payable on the indebtedness evidenced by any Note, any Loan Document, and the Related Indebtedness (or applicable United States federal Law to the extent that it permits any Lender to contract for, charge, take, reserve or receive a greater amount of interest than under applicable Law). If the applicable Law is ever judicially interpreted so as to render usurious any amount (a) contracted for, charged, taken, reserved or received pursuant to any Note, any of the other Loan Documents or any other communication or writing by or between any Borrower and any Lender related to the transaction or transactions that are the subject matter of the Loan Documents, (b) contracted for, charged, taken, reserved or received by reason of the Administrative Agent’s or any Lender’s exercise of the option to accelerate the maturity of any Note or the Related Indebtedness, or (c) each Borrower will have paid or the Administrative Agent or any Lender will have received by reason of any voluntary prepayment by any Borrower of any Note or the Related Indebtedness, then it is each Borrower’s, the Administrative Agent’s and Lenders’ express intent that all amounts charged in excess of the Maximum Rate shall be automatically canceled, ab initio, and all amounts in excess of the Maximum Rate theretofore collected by the Administrative Agent or any Lender shall be credited on the principal balance of any Note or the Related Indebtedness (or, if any Note and all Related Indebtedness have been or would thereby be paid in full, refunded to such Borrower), and the provisions of any Note and the other Loan Documents shall immediately be deemed reformed and the amounts thereafter collectible hereunder and thereunder reduced, without the necessity of the execution of any new document, so as to comply with the applicable Law, but so as to permit the recovery of the fullest amount otherwise called for hereunder and thereunder; provided, however, if any Note or Related Indebtedness has been paid in full before the end of the stated term thereof, then each Borrower, the Administrative Agent and each Lender agree that the Administrative Agent or any Lender, as applicable, shall, with reasonable promptness after the Administrative Agent or such ▇▇▇▇▇▇ discovers or is advised by suc...
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Related to Interest Provision

  • Default Provisions In addition to any Default arising under Section 20.1 above, each of the following shall constitute a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a ten (10) day period in which to cure any such failure; (b) except as is otherwise provided below in this Section 20.2, if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure to completion, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 270 days after the initial delivery of Landlord’s original default notice and same shall not be deemed to be a “Default” for purposes of this Lease; (c) the occurrence of a default under any or all of the leases scheduled on Exhibit D (“Other Leases”), which default under one or more of the Other Leases is not cured on a timely basis, pursuant to the terms of the applicable Other Lease(s) (“Other Lease Default”); upon the occurrence of an Other Lease Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder; rather, the occurrence of an Other Lease Default shall immediately constitute a Default under this Lease; and (d) Guarantor defaults under any or all of its obligations under that certain Guaranty of Lease, dated of even date herewith (the “Guaranty”), and fails to cure same within the time period, if any, provided in the Guaranty (each, a “Guaranty Default”); upon the occurrence of any Guaranty Default, there shall be no notice required to be delivered hereunder, nor shall any cure period be available to Tenant hereunder, but rather the occurrence of a Guaranty Default shall immediately constitute a Default under this Lease.

  • Interest Payments Unless otherwise specified on the face hereof, the Interest Payment Dates will be, in the case of a Floating Rate Note which resets: (1) daily, weekly or monthly—the fifteenth day of each calendar month or on the fifteenth day of March, June, September and December of each year, as specified on the face hereof; (2) quarterly—the fifteenth day of March, June, September and December of each year; (3) semi-annually—the fifteenth day of the two months of each year specified on the face hereof; and (4) annually—the fifteenth day of the month of each year as specified on the face hereof. In addition, the Maturity Date will also be an Interest Payment Date. If any Interest Payment Date other than the Maturity Date for this Floating Rate Note would otherwise be a day that is not a Business Day, such Interest Payment Date will be postponed to the next succeeding Business Day, except that in the case of a Floating Rate Note as to which LIBOR is an applicable Interest Rate Basis and that Business Day falls in the next succeeding calendar month, the particular Interest Payment Date will be the immediately preceding Business Day. If the Maturity Date of a Floating Rate Note falls on a day that is not a Business Day, the Trust will make the required payment of principal, premium, if any, and interest or other amounts on the next succeeding Business Day, and no additional interest will accrue in respect of the payment made on that next succeeding Business Day.