Examples of Penal Interest in a sentence
STATUTORY PENALTYPenalty / Penal Interest April 2017 to 2018FY 2017-2018 B.
Interest on Overdue Loan will be Applicable Loan Interest Rate plus 2% Penal Interest Rate.
The Borrower shall be liable to repay the entire outstanding loan amount to Xxxxxx Xxxxx Finance Limited along with the Interest and Penal Interest.
The Borrower/s agree, acknowledge and confirm that the rate of the Penal Interest is reasonable and represents a genuine pre-estimate of the loss expected to be incurred by the Lender in the event of non-payment of any monies by the Borrower/s.
The Penal Interest shall be in addition to the applicable Interest and any other charges which the Borrower/s are liable to pay to the Lender, in terms of this Agreement and the Transaction Documents.