Interest on Overdue Amounts definition

Interest on Overdue Amounts. Interest on overdue amounts is payable as specified in Schedule A hereto.
View Source
Interest on Overdue Amounts means interest at a per annum rate equal to the "prime rate" (or substantial equivalent) announced from time to time (as adjusted monthly) by Comerica Bank, Detroit, Michigan, plus 2%; provided, however, that if such rate shall exceed the lawful rate of interest which Landlord is entitled to charge under applicable law, then the per annum rate of interest on any such overdue amounts shall be the maximum rate permitted by applicable law. Landlord: Captec Ster Aurora, L.L.C. 24 ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Drive Lobby L 4th Floor, P. 0. ▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ FAX: (▇▇▇) ▇▇▇-▇▇▇▇
View Source
Interest on Overdue Amounts the Company must immediately on demand by the Facility Agent pay interest on the overdue amount from its due date up to the date of actual payment, calculated by the Facility Agent. Interest on an overdue amount is payable at a rate determined by the Facility Agent to be two per cent per annum above the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount.
View Source

Examples of Interest on Overdue Amounts in a sentence

  • Payments; Computations; Interest on Overdue Amounts 35 Section 2.11.

  • Interest on Overdue Amounts; Alternative Rate of Interest............................................

  • Interest on Overdue Amounts; Alternative Rate of Interest................

  • Payments; Computations; Interest on Overdue Amounts; Retroactive Adjustments of Applicable Rate 49 Section 2.11.

  • Interest on Overdue Amounts; Alternative Rate of Interest 36 SECTION 2.11.

  • Interest on Overdue Amounts; Alternative Rate of Interest 52 Section 2.12.

  • Interest on Overdue Amounts.............................................................

  • Interest on Overdue Amounts; Alternate Rate of Interest31 SECTION 2.09.

  • Interest on Overdue Amounts.......................................

  • Interest on Overdue Amounts: I agree to pay interest, which shall accrue daily and be calculated and payable on the last day of each calendar month or upon any demand being made by H&S, on all overdue balances owing by me to H&S (after as well as before any judgment).