Late Payment Premium definition

Late Payment Premium means, with respect to any Payment Deficiency for which a Late Payment Premium is payable on a Payment Date, an amount of interest (computed on the basis of a 360-day year of twelve 30-day months) on the Payment Deficiency, for the period from and including the Payment Date immediately preceding such Payment Date to but excluding such Payment Date, at a rate equal to 1.5% per annum.
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Late Payment Premium shall have the meaning set forth in Section 3.
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Examples of Late Payment Premium in a sentence

  • The Bank’s failure to collect a Late Payment Premium at any time shall not constitute a waiver of the Bank’s right thereafter, at any time and from time to time (including without limitation, upon acceleration of the Note or upon payment in full of the Loan), to collect such previously uncollected Late Payment Premiums or to collect subsequently accruing Late Payment Premiums.

  • The acceptance by the Bank of a late payment or the Late Payment Premium shall not constitute a waiver of any Default or Event of Default then existing or arising thereafter pursuant to any Loan Document.

  • In any event, their characterization does not bind the Court or undercut the conclusion that the Default Rate of interest was designed to compensate the Original Lenders for the increased risk of non-payment and the costs associated with the Debtor’s default.C. Late Payment Premium Although interest at the Default Rate is allowable, the Late Payment Premium is not.

  • The Late Payment Premium will be subject to interest until payment is made.

  • S.7In addition to paying interest to abrdn Life as provided under the Policy, the Policyholder shall indemnify abrdn Life against all reasonable legal and other costs incurred by abrdn Life in connection with the recovery of any Shortfall, Late Payment Premium or Supplementary Premium which is not paid within 90 days of it becoming due or the recovery of any amount under Clause Q.6.S.8abrdn Life shall inform the Policyholder of any claim or costs in respect of which an indemnity is sought.

  • C.9 ASI Life may at any time cancel any units allocated to the Policy to meet the amount of any outstanding interest on a Shortfall or Late Payment Premium.

  • C.7 A Late Payment Premium, where payable, will be interest on the amount of the outstanding premium from and including the Settlement Date to and excluding the date the outstanding premium is actually paid.

  • Any balance will become payable immediately and shall be subject to interest until payment is made.C.7A Late Payment Premium, where payable, will be interest on the amount of the outstanding premiumfrom and including the Settlement Date to and excluding the date the outstanding premium is actually paid.The Late Payment Premium will be subject to interest until payment is made.

  • The Schedule does not include additional fees that may become due and payable upon a Default or an Event of Default.2 The Late Payment Premium is a separate from and in addition to the payment of any default rate of interest due under the subject credit facility.

  • C.8 ASI Life will advise if, and the extent of, any Shortfall or Late Payment Premium.

Related to Late Payment Premium

  • Late Payment Fee means the excess of the Price Differential paid as a result of its calculation at the Post-Default Rate over the Price Differential as would have been calculated at the Pricing Rate.

  • Late Payment means any amount that is due and payable by law under a written procurement contract, without deferral, delay, or set-off under COMAR 21.02.07.03, and remains unpaid more than 45 days after an agency receives a Proper Invoice.

  • Late Payment Surcharge shall have the meaning ascribed thereto in Article 10.3.3 of this Agreement;

  • Late Payment Interest means and refer to interest on a particular Late Payment at the Default Rate.

  • Late Payment Charge means the charge that is applied when either Party fails to remit payment for any charges by the Bill Due Date, or if payment for any portion of the charges is received after the Bill Due Date, or if payment for any portion of the charges is received in funds which are not immediately available or received by either Party as of the Bill Due Date, or if either Party does not submit the Remittance Information.

  • Late Payment Rate As defined in the Insurance Agreement.

  • Prepayment Premium means, with respect to the Mortgage Loan, any prepayment premium, spread maintenance premium, yield maintenance premium or similar fee required to be paid in connection with a prepayment of the Mortgage Loan pursuant to the Mortgage Loan Documents, including any exit fee.

  • Overdue Payment shall have the meaning specified in Section 4.03(a).

  • Prepayment Premiums Any prepayment fees and penalties to be paid by the Mortgagor on a Mortgage Loan.

  • Prepayment Premium Period means the period during which, if a prepayment of principal occurs, a prepayment premium will be payable by Borrower to Lender. The Prepayment Premium Period is the period from and including the date of this Note until but not including the first day of the Window Period.

  • Deposit Premium means a provisional premium which is agreed upon in the event of it being impossible at the due date of the premium to determine the exact premium, and which represents a reasonable estimate of the premium;

  • Past Due Rent Payment is defined in Section 2.2(g).

  • Prepayment Fee is, with respect to any Term Loan subject to prepayment prior to the Maturity Date, whether by mandatory or voluntary prepayment, acceleration or otherwise, an additional fee payable to the Lenders in amount equal to:

  • Applicable Prepayment Premium has the meaning specified therefor in the Fee Letter.

  • Late Fee If you don’t pay at least the Minimum Payment Due by the Payment Due Date, we will charge you a late fee. o The fee is $27.00 if you were not charged a late fee during any of the prior six billing periods.

  • Late Charge shall have the meaning set forth in Section 13.09 hereof.

  • Yield Maintenance Premium means the amount (if any) which, when added to the remaining principal amount of this Note, will be sufficient to purchase U.S. Obligations providing the required Scheduled Defeasance Payments; and

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Final Payment is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earliest to occur of (a) the Maturity Date, or (b) the acceleration of any Term Loan, or (c) the prepayment of a Term Loan pursuant to Section 2.2(c) or (d), equal to the original principal amount of such Term Loan multiplied by the Final Payment Percentage, payable to Lenders in accordance with their respective Pro Rata Shares.

  • Nonpayment of premium means the failure or inability of the named insured to discharge any obligation in connection with the payment of premiums on a policy of insurance subject to this section, whether such payments are payable directly to the insurer or its agent or indirectly payable under a premium finance plan or extension of credit;

  • Net Premium means the premium, net of reinsurance premiums paid, HRA and GME payments, and MCO tax expenses.

  • Interest Subsidy Payments means payments, designated as such, consisting of interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Overdue Scheduled Payment means any Scheduled Payment which is not in fact received by the Subordination Agent within five days after the Scheduled Payment Date relating thereto.