Contractual Penalty definition

Contractual Penalty means the amount equal to the Replacement Cost (as defined later) for the Lender corresponding to a swap or operation of exchange of flows of fixed-variable interest rates (hereinafter, "Swap") under the terms established hereafter. This amount shall be determined by the Lender in good faith and in accordance with the market practices in force, the working day after the "Termination Date". The term "Termination Date" means the date on which any of the scenarios cited in sections A), B), C) or D) above occurs. For the purposes of determining the Swap operation, this would be equal to a hypothetical exchange in Mexican pesos for a theoretical amount equal to the Debt Amount to be paid or prepaid, with the interest payment dates in the Swap being the same ones established in the Sixth Clause of this amendment agreement for the Debt Amount. Assuming in addition that repayment dates and amounts applicable for the Swap are equal to the interest and repayment dates established in the Fifth Clause of this agreement pending to begin as of the Termination Date. However, in the event that any partial prepayment of the Debt Amount is made, the repayment amounts applicable to the Swap will be the ones remaining after this advance payment has been made per the stipulations of the Seventh Clause of this amendment agreement. Under this Swap, the Lender will collect interest calculated at a Fixed Annual Interest Rate equal to 8.30% and payable interest will be calculated at an annual Variable Interest Rate equal to T.I.I.E. [Tasa de Interes Interbancaria de Equilibrio, or Mexican Interbank Equilibrium Interest Rate] (as defined later). The Swap period will be the period which begins on and including the Termination Date and ends on and includes the Termination Date of the Agreement. For the purposes of calculating the Contractual Penalty, in the event that the T.I.I.E. rate no longer exists, the rate set by the Bank of Mexico to replace it shall be applied or, if there is no replacement, the parties shall agree on the new applicable interest rate; with the understanding that if an agreement is not reached with respect to the replacement rate, the CETES [Certificados de la Tesoreria de la Federacion, or Mexican Treasury Bill] rate or the CPP [Costo de Captacion a Plazo de Pasivos, or Cost xx Xaking Term Deposits] rate cited in the "Definitions" section included later in this amendment agreement shall be applied. In all the scenarios cited above, the Lender shall give writte...
Sample 1
Contractual Penalty means in respect of each Lease Exhibit, the amount to be paid by the Lessee to the Lessor for breach of its obligations under this Agreement and each Lease Exhibit, plus applicable VAT, as well as the amount to be paid by the Lessee to the Lessor in the event of early termination.
Sample 1
Contractual Penalty without distinguishing between same), instructing the Agent to create said deposit to with the Agent, acting as depositary in order to comply with the provisions set forth in Clause Seventh hereof.
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Examples of Contractual Penalty in a sentence

  • The Passenger is obliged to identify himself for the purposes of the execution of the “Certificate of Non-Adherence to the Conditions of Carriage” using personal data necessary for the collection of the Fare, the Surcharge (Contractual Penalty) to Fare or other fees.

  • Contractual Penalty in Case of Violation of the Disclosure Obligations9 V.

  • If the passenger violates this provision, he may be excluded from the carriage by the authorized person.(4) The additionally submitted Certificates or other additional submission of discounts shall be not taken into consideration and the Passenger continues to be obliged to pay the difference in the Fare, eventually also Surcharge (Contractual Penalty) to Fare in sense mentioned in the previous article.

  • Skis must be packed in a suitable cover, which covers all their edges, otherwise the Passenger shall pay a Surcharge (Contractual Penalty) to Fare in the amount of CZK 100.

  • In case that the Passenger does not pay the Surcharge (Contractual Penalty) or does not use the cover provided by the operator, operator reserves the right to exclude them from transport.

  • The amount of the FX Swap Line Contractual Penalty can be amended in accordance with the procedure set out in Chapter I Part 1 Number 17.2 of the Clearing Conditions.

  • If the Passenger fails to pay this amount on the spot in cash or by a payment card, or at any LE cash-desk within fifteen (15) days at any of the day when his obligation to pay this amount arose, the amount may be enforced.(3) The amount of the Surcharge (Contractual Penalty) is CZK 1000.(4) Passenger may choose prior to the payment in which currency fee is paid.

  • Instead the Clearing Member is obliged to pay the FX Swap Line Contractual Penalty to Eurex Clearing AG, provided that the FX Swap Line Contractual Penalty is only payable once with respect to the same FX Hedging Transaction.

  • The FX Swap Line Contractual Penalty applies regardless of any actual damages incurred by Eurex Clearing AG.

  • In cases where the Passenger shall be in violation with the provisions, the Surcharge (Contractual Penalty) may be imposed on him repeatedly, and even multiple times during one journey.(5) The Person Authorized by LE who deals with the Passenger in relation to the violation of these Conditions shall issue a so-called “Certificate of Non-Adherence to the Conditions of Carriage” for each instance of violation of these Conditions.


More Definitions of Contractual Penalty

Contractual Penalty has the meaning as defined in Section 6.8. “XXX” XXX. “XXX” XXX. “XXX” XXX. “XXX” XXX.
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Related to Contractual Penalty

  • Contractual Service means the rendering by a contractor of its time and effort rather than the furnishing of specific commodities. The term applies only to those services rendered by individuals and firms who are independent contractors. Contractual Services do not include auditing services, Maintenance Services, or Professional Services as defined in Section 287.055(2)(a) of the Florida Statutes, and these Rules. Contractual Services also do not include any contract for the furnishing of labor or materials for the construction, renovation, repair, modification, or demolition of any facility, building, portion of building, utility, park, parking lot, or structure or other improvement to real property entered into pursuant to Chapter 255 of the Florida Statutes, and Rules 3.5 or 3.6.

  • Statutory Penalties are those amounts awarded as a penalty, but are fixed in amount by statute.

  • Contractual Services are defined as those specified services established within the OAG approved budget for which the Provider is to be paid upon completion at the set rate also established within the OAG approved budget, as authorized expenditures eligible for payment, or reimbursement pursuant to ARTICLE 9, AUTHORIZED EXPENDITURES, of this Agreement.

  • CAISO Penalties means any fees, liabilities, assessments, or similar charges assessed by the CAISO for (a) violation of the CAISO Tariff and all applicable protocols, WECC rules or CAISO operating instructions or orders or (b) as a result of Seller’s failure to follow Prudent Electrical Practices. “CAISO Penalties” do not include the costs and charges related to Scheduling and imbalances as addressed in Section 14.1 of this Agreement.

  • EU Standard Contractual Clauses means the standard contractual clauses approved by the European Commission in Commission Implementing Decision (EU) 2021/914 of 4 June 2021 on standard contractual clauses for the transfer of personal data to third countries pursuant to Regulation (EU) 2016/679 of the European Parliament and of the Council, as applicable (referencing Module 2: Transfer Controller to Processor) and as may be amended or replaced by the European Commission from time-to-time;

  • Extra Contractual Obligations shall be defined as those liabilities not covered under any other provision of this Contract and that arise from the handling of any claim on business covered hereunder, such liabilities arising because of, but not limited to, the following: failure by the Company to settle within the Policy limit, or by reason of alleged or actual negligence, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such action.

  • Standard Contractual Clauses means the clauses attached hereto as Exhibit 1 pursuant to the European Commission’s decision (C(2010)593) of 5 February 2010 on Standard Contractual Clauses for the transfer of personal data to processors established in third countries which do not ensure an adequate level of data protection.

  • Contractual Requirement shall have the meaning provided in Section 8.3.

  • Civil penalty means a penalty which is imposed on a credit provider by the operation of this Act and under which the debtor is not liable to pay to the credit provider an amount otherwise payable under a regulated contract.

  • Parent of a covered servicemember means a covered servicemember’s biological, adoptive, step or foster father or mother, or any other individual who stood in loco parentis to the covered servicemember. This term does not include parents “in law.”

  • Administrative penalty means a monetary fine imposed by the division for acts or

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • Contract carrier means any person who, under special and individual contracts or agreements, and

  • Covered Servicemember means: 1) a current member of the Armed Forces, including a member of the National Guard or Reserves, who is undergoing medical treatment, recuperation, or therapy, is otherwise in outpatient status, or is otherwise on the temporary disability retired list, for a serious injury or illness; or 2) a veteran who is undergoing medical treatment, recuperation, or therapy, for a serious injury or illness and who was a member of the Armed Forces, including a member of the National Guard or Reserves, at any time during the period of five years preceding the date on which the veteran undergoes that medical treatment, recuperation, or therapy. (29 CFR § 825.102 & 825.122.)

  • Son or daughter of a covered servicemember means a covered servicemember's biological, adopted, or foster child, stepchild, legal ward, or a child for whom the covered servicemember stood in loco parentis, and who is of any age.

  • Published Penalties means any additional published cancellation penalties levied by Your travel agency or Travel Supplier that apply to all clients of the travel agency or Travel Supplier and can be documented at time of Your purchase of Travel Arrangements from Your travel agency. The maximum amount reimbursable for travel agency published penalties is 25% of the total trip cost excluding taxes and other non-commissionable items.

  • Medicare Advantage The Medicare managed care options that are authorized under Title XVIII as specified at Part C and 42 C.F.R. § 422.

  • Baseline actual emissions means the rate of emissions, in tons per year, of a regulated NSR pollutant, as determined in accordance with paragraphs (i) through (iv) of this definition.

  • Prepayment Penalty With respect to each Mortgage Loan, the amount of any premium or penalty required to be paid by the Mortgagor if the Mortgagor prepays such Mortgage Loan as provided in the related Mortgage Note or Mortgage.

  • BREACH OF CONTRACTUAL OBLIGATION means amongst others also the following:

  • Contractual Obligations means, as to any Person, any provision of any security issued by such Person or of any agreement, undertaking, contract, indenture, mortgage, deed of trust or other instrument, document or agreement to which such Person is a party or by which it or any of its Property is bound.

  • Next of kin of a covered servicemember means the nearest blood relative other than the covered servicemember’s spouse, parent, son, or daughter, in the following order of priority: blood relatives who have been granted legal custody of the covered servicemember by court decree or statutory provisions, brothers and sisters, grandparents, aunts and uncles, and first cousins, unless the covered servicemember has specifically designated in writing another blood relative as his or her nearest blood relative for purposes of military caregiver leave under the FMLA. When no such designation is made and there are multiple family members with the same level of relationship to the covered servicemember, all such family members shall be considered the covered servicemember’s next of kin, and the employee may take FMLA leave to provide care to the covered servicemember, either consecutively or simultaneously. When such designation has been made, the designated individual shall be deemed to be the covered servicemember’s only next of kin.

  • Abortion-inducing drug means a drug, medicine, mixture, or preparation, when it is prescribed or administered with the intent to terminate the pregnancy of a woman known to be pregnant.

  • eligible penalty means a judgment, penalty or fine awarded or imposed in, or an amount paid in settlement of, an eligible proceeding;

  • Medicare Advantage plan means a plan of coverage for health benefits under Medicare Part C as defined in 42 U.S.C. 1395w-28(b)(1), and includes:

  • Assigned Contract has the meaning set forth in Section 2.2.