Moratorium Interest Clause Samples

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Moratorium Interest. Upon default in performance of any of the payment obligations derived from this Agreement, moratorium interest on such outstanding amount, at a rate equal to that resulting from multiplying the Interest Rate to be applied under this Agreement effective during the time in which the default continues without being cured by two (2). Interest to be accrued under this Agreement shall be calculated on the basis of a 360-calendar-day year and the actual number of days elapsed.
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Moratorium Interest. In the event of a moratoruium, this shall cause interest on the expired and unpaid balances of the Credit, at the annual rate resulting from multiplying the Ordinary Rate in effect on the date of payment by 1.50 (ONE POINT FIFTY). The Moratorium interest shall be caused as long as the delay lasts, as from the date in which the default originates and up to the total payment, and shall be payable on sight.
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Moratorium Interest. In the event the Obligor fails to pay the Bank in full on the due date, the Obligor shall pay moratorium interest to the Bank on any amount (with the exception of interest) in arrears in accordance herein, calculated from the due date of payment to the date on which the total amount is paid, at an annual interest rate of eight per cent (8%), said interest being accrued daily. Interest in accordance with this Agreement shall be calculated based on a year of three hundred and sixty days (360) days, and the number of days that transpire, including the first and last days.
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Moratorium Interest. In case that MAPFRE does not comply with the obligations assumed in the insurance contract when they are payable, it shall be obliged to pay its obligations pursuant to article 135 Bis of the General Law on Insurance Institutions and Mutual Insurance Companies that is transcribed verbatim below, even when the claim is extrajudicial. Moreover, the insurance company shall pay Moratorium Interest on the obligation denominated in Investment Units pursuant to the provisions of the above paragraph, the rate of which shall be equal to the result of multiplying the cost of installment collection for liabilities denominated in Investment Units of Mexican multiple banking institutions published by Banco de México in the Official Gazette of the Federation corresponding to each one of the months of arrears by 1.25;
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Related to Moratorium Interest

  • Moratorium Any moratorium is declared on the payment of any external indebtedness of the Russian Federation or of Russian residents generally.

  • Moratorium legislation To the fullest extent permitted by law, the provisions of all statutes whether existing now or in the future operating directly or indirectly: (a) (To affect obligations): to lessen or otherwise to vary or affect in favour of any party any obligation under this Agreement; or (b) (To affect rights): to delay or otherwise prevent or prejudicially affect the exercise of any rights or remedies conferred on a party under this Agreement, are hereby expressly waived, negatived and excluded.

  • Receivership The employment of a receiver appointed by court order to take possession of substantially all of Tenant’s assets or the Premises, if such receivership remains undissolved for a period of thirty (30) days;

  • No Bankruptcy Developer is not now nor has it ever been in bankruptcy or receivership.

  • Insolvency If Borrower becomes insolvent, or if an Insolvency Proceeding is commenced by Borrower, or if an Insolvency Proceeding is commenced against Borrower and is not dismissed or stayed within thirty (30) days (provided that no Credit Extensions will be made prior to the dismissal of such Insolvency Proceeding);