Overdue Loan definition

Overdue Loan. ’ means any loan or leasing arrangement provided by the Borrower, where the obligor of such loan or leasing arrangement has not paid amounts under such loan or leasing arrangement within 90 days after the due date;
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Examples of Overdue Loan in a sentence

  • Default Interest for Overdue Loan = the Principal of the Overdue Loan x Daily Default Interest Rate for Overdue Loan x Actual Days Overdue; Interest on Unpaid Default Interest = Payable Default Interest on Overdue Loan x Daily Default Interest Rate for Overdue Loan x Actual Days Overdue.

  • Provided the loans are not repaid in full on the first Business Day after the statutory holiday and public holiday, it will be deemed to be an Overdue Loan, while the penalty interest will be charged at the interest rate of the Overdue Loan from the Principal Payment Date agreed under this contact.

  • If Party B fails to pay the interest on time, Party A shall have the right to charge compound interest on the outstanding interest at the Overdue Loan Interest Rate specified in this Article.

  • The Interest shall be paid on the last day of each interest period; • pay to the Pledgee a penalty (fines) in the amount of *** percent per annum accrued in respect of the Overdue Loan and a penalty (fines) in the amount of *** percent per annum accrued in respect of the Overdue Interest.

  • As regards the interest charged on the Overdue Loan and Appropriation of Loans, if it cannot be repaid on time, compound interest will be charged at a relevant penalty interest rate.

  • At any time that the Borrower’s Salary account has a positive balance, the Borrower hereby authorizes the Bank to debit the Salary account for any available amount which the Bank may then credit to the Overdue Loan Account to satisfy the obligations of the Borrower owning the Bank.

  • In case that the Borrower cannot repay the principal of the due loans according to the agreement under this contract, the penalty interest will be charged at the penalty interest rate for the Overdue Loan as agreed in this contract.