Standard Interest definition
Examples of Standard Interest in a sentence
Moreover, the Parties have agreed that the Bank is deemed to have properly warned the Client about changing the Standard Interest Rate if he has informed the Client by posting information on the Bank's Official Website.
Up until the Loan Period End Date, interest shall accrue on the Amount Outstanding at the Standard Interest Rate, such interest to be simple interest calculated on a daily basis, and will be payable to the Lender in addition to the original Loan amount.
In case the payment of any Invoice for charges payable under this Agreement is delayed by either Party (“Owing Party”) beyond its Due Date, a Late Payment Surcharge shall be payable by the Owing party to the Owed Party at the rate of the Standard Interest per year on the outstanding amount, calculated on a day to day basis for each day of the delay, compounded on monthly rests.
In the event of delay beyond such period, the defaulting Party shall pay interest for the period of delay calculated at a rate equal the Standard Interest per year, and recovery thereof shall be without prejudice to the rights of the Parties under this Agreement including Termination thereof.
In this case, the Parties agree that the Bank shall be deemed to have duly notified the Client of the change in the amount of the Standard Interest Rate if it notifies the Client by posting information on the Bank's Official Website.
Accrued interest on the Loan shall be due and payable in arrears on the last Business Day of each calendar quarter (each, an “Interest Payment Date”); provided that in the event of any prepayment of the Loan, accrued interest on the principal amount prepaid (which interest shall be deemed to have accrued at the Standard Interest Rate if such prepayment occurs during the Specified Accrual Period) shall be payable in cash on the date of such prepayment.
Late payments will be subject to interest at the Standard Interest Rate and errors or omissions in the invoicing shall be addressed in accordance with the procedures set out in Section 3.6 below.
Such Additional Rent due from Tenant in payment for the restoration costs that are in excess of the Loss Cap shall be amortized on a straight line basis over the Lease Term (including all remaining Extension Periods whether or not an Option to Extend therefor has then been exercised or not) with interest on the unamortized balance at the Standard Interest Rate.
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Acquisition Note, dated as of January 6, 1998, in the maximum principal amount of $2,327,000 made by Debtors and payable to the order of Secured Party on or before January 1, 2002, together with interest until maturity at the Standard Interest Rate, and after maturity or default at the Default Rate; and 3.