Examples of Delayed Payment Rate in a sentence
For purposes of Paragraph 4 above, if there is a delayed settlement of a payment due, there will be an interest penalty, at the Delayed Payment Rate, described in Paragraph 8 below, for the period that the amount is overdue.
For purposes of this Paragraph, a payment will be considered overdue thirty (30) days after the date such payment is due, and the interest penalty will be determined by multiplying the amount due by the product of the Delayed Payment Rate multiplied by a fraction, the numerator of which is the number of days the amount was overdue and the denominator of which is 360.
For purposes of Paragraph 4 above, if there is a delayed settlement of a payment due, there will be an interest penalty, at the Delayed Payment Rate described in Paragraph 9 below, for the period that the amount is overdue.
The Delayed Payment Rate at the end of each Accounting Period will be equal to 75 basis points plus the quotient of the sum of the one month London Interbank Offered Rates (LIBOR) as published by The Wall Street Journal at the end of each calendar month ending during the current Accounting Period, divided by the number of calendar months ending during the current Accounting Period.
For purposes of Paragraph 4 above, if there is a delayed settlement of a payment due, an interest penalty at the Delayed Payment Rate defined in Paragraph 8 below shall be due for the period for which the amount is overdue.