Penalty Interest Rate. (1) In the event that the Borrower fails to repay the loan within the agreed time limit, interest shall be calculated and charged over the overdue part at the penalty interest rate for overdue loan from the overdue day, until the principal and interest are paid off;
Penalty Interest Rate. (clause 5) Double the current Official Cash Rate (OCR). See Reserve Bank of New Zealand website
Penalty Interest Rate. (1) If Party A fails to use the loan for the purpose specified herein, the penalty interest rate shall be floated above 100% of the loan interest rate, if the loan rate is adjusted as article 1 (3) described, then the penalty interest rate will be adjusted corresponding to the new loan interest rate and the foresaid floating scope.
Penalty Interest Rate. If Party A fails to use the loan according to the contracted purpose, the penalty interest rate shall be 100% above the loan interest rate. The penalty interest rate for overdue loans is 50% above the loan interest rate. At the same time, overdue And misappropriation of loans, it should be recalculated to collect penalty interest and compound interest.
Penalty Interest Rate. 6.1 Should Party A fail to repay the principal and interest under the Contract on time, Party B is entitled to claim penalty interest at a rate 30% upward the current interest rate on any balance of loan used by Party A in breach of this Contract for the days of breach.
Penalty Interest Rate. (1) In case Party A fails to use the loan consistently with the loan purpose, the penalty interest rate shall be 100% more than the above mentioned 8.1‰.
Penalty Interest Rate. (i) Should the Debtor become delinquent or incur late payment in respect of any sum due hereunder, whether with regard to principal amount, interest, fees or on any other account, whether at the stated maturity, upon occurrence of a legal or conventional termination event, due to mandatory prepayment or for another reason, or (ii) should any of the Events of Default listed in One) of section Nine below occur, the sums due shall accrue as penalty interest, the TAB rate of the relevant Interest Period plus an applicable margin of three point five percentage points per annum. The Penalty Interest Rate shall apply as from the moment of occurrence of the delay or from the date of commencement of the Event of Default, as applicable, and until actual payment of the sum due or cessation of the Event of Default, as applicable, to the extent that such penalty interest rate does not exceed the conventional maximum interest rate allowed by law for money credit transactions readjustable in legal tender, in which event, the penalty interest
Penalty Interest Rate. 4.3.1 Where the Borrower fails to use the loan according to the purpose of the Loan Contract, the Lender has the right to collect penalty interest, the rate of which is twice the loan interest rate. Where the loan interest rate is adjusted according to Item (2) of Article 4.2.1, the penalty interest rate is twice the adjusted loan interest rate.
Penalty Interest Rate. In the event the Purchaser does not complete payment of the full Phase II or Phase III purchase price (each referred to as Phase II or Phase III “Installment Purchase Price”) for the Shares required to be purchased from the Company within the time period provided in the Agreement for the particular Phase, as an additional purchase price (“Additional Purchase Price”) for the Shares to be purchased in that particular Phase, the Purchaser shall pay interest at the rate of 13.5% per annum (“Penalty Interest”) on the unpaid balance of any such unpaid Installment Purchase Price. The Company shall not issue the Shares represented by any unpaid portion of the applicable Installment Purchase Price that is in default under the Agreement until the Purchaser has paid such unpaid balance together with, as an Additional Purchase Price, the Penalty Interest applicable to such unpaid Installment Purchase Price accumulated to the date of issuance of such Shares.
Penalty Interest Rate. If the Co-borrowers fails to pay any sum payable under this Agreement when due then an additional 1% penalty interest rate shall be levied on all amounts due and unpaid.
