Penal Interest Sample Clauses

Penal Interest. Any delay or default in the payment of the Monthly Installments or any other amount on the respective Due Date(s) to the Lender, shall render the Borrower/s, liable to pay the Penal Interest along with other charges, on all such overdue / unpaid amounts from the relevant Due Date, till the date of actual payment of such unpaid amount. 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. 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.
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Penal Interest. (d) Without prejudice to the obligations of the Borrower under this Agreement and the other Financing Documents, the Borrower shall pay Penal Interest at such rate as specified in Sr. No. 14 of the Schedule I or any other rate as may be communicated by the Bank to the Borrower (“Penal Rate”) over and above the rate of interest as specified in Sr. No. 11 of the Schedule I on all amounts outstanding under the Facilities upon the failure by the Borrower to pay any Loan Obligations or to comply with any terms and conditions specified in this Agreement. Such Penal Interest will be computed from the respective due date of payment or from the date of non compliance of the terms of this Agreement, as the case may be until the date on which the Borrower has repaid /reimbursed such amounts or complied with such terms of this Agreement for which the default had occurred, and shall become payable upon the footing of compound interest with monthly rests as provided in this Agreement and shall be payable by the Borrower immediately on demand by the Bank.
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Penal Interest. (i) The Borrower shall operate and monitor the Cash Credit Facility in a manner so that the outstanding in the account does not exceed the sanctioned Limit or the Drawing Power, whichever is less. In the event of any exceeding or overdrawing, the Borrower shall bring down the drawal to the sanctioned Limit or Drawing Power, whichever is lower, as the case may be, immediately and shall also be liable to pay Penal Interest on the overdue amount or on the entire outstanding, at the discretion of the Bank, prevailing on from the date of exceeding upto the date of bringing down.
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Penal Interest. (a) Upon occurrence of any of the events mentioned in Article 8 below, the Borrower shall be liable to pay Penal Interest which shall be in addition to the interest payable by the Borrower under Article 2.3.
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Penal Interest. In default of regular payment of Interest / EMI / Repayment Amounts / Outstanding Amounts on the due dates as per the Repayment Schedule, Penal Interest at the rate as specified in Schedule I over and above the Applicable Rate of Interest shall become payable on monies due from the date of default up to the date of actual payment. Such obligation to pay the Penal Interest shall arise without the need for any notice thereof or demand therefore.
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Penal Interest a. A penal interest of 2.00% p.a. would be charged on the amount of overdue installment/ interest over limit.
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Penal Interest. If a duly agreed and invoiced fee or expense remains unpaid by Customer after a written reminder from Supplier, Supplier reserves the right to suspend further performance of Services until payment is received and to charge penal interest on arrears of 0.5% per delayed week.
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Penal Interest. (g) Without prejudice to the obligations of the Borrower under this Agreement and the other Financing Documents, the Borrower shall pay Penal Interest at such rate as specified in Sr. No. 14 of the Schedule or
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Related to Penal Interest

  • Financial Interest A person has a financial interest if the person has, directly or indirectly, through business, investment, or family:

  • Interest (a) The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus the Applicable Rate.

  • Late Payment Interest If the Customer fails to make payment by the agreed time, the Contractor shall be entitled to claim interest on any overdue amount, pursuant to the Act No. 100 of 17 December 1976 relating to Interest on Overdue Payments, etc. (Late Payment Interest Act).

  • Liquidated Damages The Company’s obligations to pay any partial liquidated damages or other amounts owing under the Transaction Documents is a continuing obligation of the Company and shall not terminate until all unpaid partial liquidated damages and other amounts have been paid notwithstanding the fact that the instrument or security pursuant to which such partial liquidated damages or other amounts are due and payable shall have been canceled.

  • Defaulted Interest If the Company defaults in a payment of interest on the Notes, it shall pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Company shall fix or cause to be fixed each such special record date and payment date, provided that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid.

  • Premium Once your contract of insurance has been concluded, we will send you an invoice (also referred to as a debit note). You must pay the premium due in accordance with the amounts and payment dates specified in the invoice. Failure to meet the payment due date may lead insurers to cancel your policy. No payment shall be deemed to have been received until we have received cleared funds. Where insurers have specified that the premium must be received by a certain date, failure to comply can result in automatic termination of your insurance contract.

  • Prohibited Interest No member, officer, or employee of the CITY shall have any interest, direct or indirect, in this Agreement or the proceeds thereof.

  • Additional Amounts If the Securities of a series expressly provide for the payment of Additional Amounts, the Company will pay to the Holder of any Security of such series Additional Amounts as expressly provided therein. Whenever in this Indenture there is mentioned, in any context, the payment of the principal of, or premium (if any) or interest on any Security of any series or the net proceeds received from the sale or exchange of any Security of any series, such mention shall be deemed to include mention of the payment of Additional Amounts provided for in this Section 10.10 to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section 10.10 and express mention of the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made. If the Securities of a series provide for the payment of Additional Amounts, at least 10 days prior to the first Interest Payment Date with respect to that series of Securities (or if the Securities of that series will not bear interest prior to Maturity, the first day on which a payment of principal and any premium is made), and at least 10 days prior to each date of payment of principal and any premium or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers’ Certificate, the Company shall furnish the Trustee and the Company’s principal Paying Agent or Paying Agents, if other than the Trustee, with an Officers’ Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of and any premium or interest on the Securities of that series shall be made to Holders of Securities of that series who are United States Aliens without withholding for or on account of any tax, assessment or other governmental charge described in the Securities of that series. If any such withholding shall be required, then such Officers’ Certificate shall specify by country the amount, if any, required to be withheld on such payments to such Holders of Securities and the Company will pay to such Paying Agent the Additional Amounts required by this Section 10.10. The Company covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against any loss, liability or expense reasonably incurred without negligence, willful misconduct or bad faith on their part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officers’ Certificate furnished pursuant to this Section 10.10.

  • Material Interest We will act honestly, fairly and professionally known as conducting business in ‘Client’s best interest’ regulations. Occasionally situations may arise where we or one of our other clients have some form of interest in business transacted for you. If this happens or we become aware that our interests or those of one of our other clients conflict with your interest, we will write to you and obtain your consent before we carry out your instructions, and detail the steps we will take to ensure fair treatment. In accordance with the rules of our regulator, The Financial Conduct Authority, we are prohibited from accepting any payment (commission or other non-monetary benefits) which is likely to conflict with the duty of the firm to its clients.

  • Liquidated Damages Security The Board may require that a Member that has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit securing such Member’s payment and performance obligations under this Agreement in such amounts as the Board deems appropriate, or may require such Member to personally guaranty, and/or have other Members or third parties personally guaranty, such Member’s payment and performance obligations under this Agreement.

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