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 ▇▇ ▇aking 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...
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Contractual Penalty has the meaning as defined in Section 6.8. “XXX” XXX. “XXX” XXX. “XXX” XXX. “XXX” XXX.
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Contractual Penalty means the fee Tallink charges a passenger in the cases and according to the procedure set out in the Travel Terms and Conditions for changing or cancelling a ticket.
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Examples of Contractual Penalty in a sentence

  • The Contractual Penalty payment shall not affect the Fund’s right to request a damage compensation for any damages caused to the Fund.

  • The Contractual Penalty payment shall not affect the Funďs right to request a damage compensation for any damages caused to the Fund.

  • 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.

  • 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.

  • The Contractual Penalty shall be paid by the Grantee within 15 working days from the written notice of the Fund.

  • For the avoidance of doubt, this obligation to pay the Contractual Penalty shall apply to each and every individual Closing following the Closing of the Core Portfolio until the last Closing.

  • In this case the payment is made in fulfillment of the Purchaser's obligation to pay the Contractual Penalty pursuant to Section 5.3.

  • The German Notary has to inform the relevant Purchaser of Seller’s payment request for the Contractual Penalty in writing by registered mail together with a copy of the confirmation received from the Seller.

  • The amount of the FX Swap Line Contractual Penalty – as determined by Eurex Clearing AG – is the equivalent in the relevant Clearing Currency of 40 basis points of the payment due under the relevant leg of the relevant FX Hedging Transaction, with a minimum of EUR 2,500.00, CHF 3,000.00 or GBP 2,000.00, as applicable, and a maximum of EUR 10,000,000.00, CHF 12,000,000.00 or GBP 8,000,000.00, as applicable.


More Definitions of Contractual Penalty

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.
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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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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.

  • PAGA Penalties means the total amount of PAGA civil penalties to be paid from the Gross Settlement Amount, allocated seventy-five percent (75%) to the LWDA and the twenty-five percent (25%) to the Aggrieved Employees in settlement of PAGA claims.

  • 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.