No Interest Payable Clause Samples
The 'No Interest Payable' clause establishes that no interest will accrue or be paid on any amounts owed under the agreement. In practice, this means that if a party is late in making a payment or if funds are held for a period of time, the receiving party cannot claim additional interest on those sums. This clause is commonly used to prevent disputes over interest calculations and to ensure that the financial obligations remain clear and limited to the principal amounts due, thereby simplifying the payment terms and reducing potential liabilities.
POPULAR SAMPLE Copied 8 times
No Interest Payable. No interest shall accrue on or be paid with respect to any portion of any payments hereunder.
No Interest Payable. No Partner shall be entitled to receive interest on the amount of its capital Contribution or any balance in its current account from the Limited Partnership. No Partner shall be liable to pay interest to the Limited Partnership on any negative balance of capital or on any negative balance in its current account.
No Interest Payable. No Partner shall receive any interest on its contributions to the capital of the Partnership.
No Interest Payable. Except as otherwise provided herein, no Member shall receive any interest on its contributions to the capital of the Company.
No Interest Payable. No interest is payable on any payment to the Contractor under this Agreement.
No Interest Payable. No Member shall receive any interest on any of its Capital Contributions except for such Member’s Operating Return.
No Interest Payable. No Member shall receive any interest on its contributions to the Capital of the Company.
No Interest Payable. No Venturer shall receive any interest on its Capital Account.
No Interest Payable. No interest shall be payable to the Contractor on any payment due or awarded by any authority.
No Interest Payable. 14 4.4 NO WITHDRAWALS........................................................14 4.5