Penalty Interest Rate definition

Penalty Interest Rate means the then current rate fixed by the Attorney-General under the Penalty Interest Rates Act 1983 (Vic) applicable at the relevant time.

Penalty Interest Rate. Is the interest rate charged by the Inland Revenue Department on unpaid tax under the Tax Administration Act 1994 during the period for which the interest rate for late settlement is payable plus 5% per annum, calculated on a daily basis.

Penalty Interest Rate means, at any time,the higher of:

Examples of Penalty Interest Rate in a sentence

• If the Penalty Interest Rate changes, the Bank may charge the same at its new rate starting on the day such a change comes into effect.

• The Client acknowledges and agrees that the Bank is entitled to unilaterally adjust the interest rates for interest on the account balance (including the interest rate for charging interest on Authorized Debit under Overdraft and the Penalty Interest Rate) at any time in connection to developments on the monetary market and with regard for its business policy under the conditions of Articles 44.2 through 44.5 of the GBC.

• The current interest rates for interest on the account balance (including the interest rate for charging interest on Authorized Debit under Overdraft and the Penalty Interest Rate) and for term deposits and individual currencies, as well as changes thereto and the day they take effect, are declared by the Bank and published on the Interest Rate Table.

• The meeting was called to order by Chair Bill Lipe at 2:35 p.m. Chair Lipe introduced the representative for District 4, Val King.

• Supplier may in its absolute discretion charge Customer interest on any account unpaid on the due date in accordance with the rate set by section 2 of the Penalty Interest Rate Act 1983 (Vic) from time to time from the due date until the account is paid in full by Customer.

More Definitions of Penalty Interest Rate

Penalty Interest Rate means penalty interest rate as prescribed for the relevant state being one of the following:

Penalty Interest Rate means twenty per cent (20%) per annum;

Penalty Interest Rate means the penalty interest rate specified in the Facility Letter.

Penalty Interest Rate means the rate for the time being fixed under section 2 of the Penalty Interest Rates Act 1983 (Vic).

Penalty Interest Rate. Double the Interest Rate. Vendor: The company that is specified as the vendor in the Purchase Confirmation. Delivery Window: The period (including both the initial date and final date) in which the products must be delivered by the Vendor to XXXXX at the place stipulated in the Purchase Confirmation and in accordance with the rules of interpretation of the Incoterms 2020 (or any rules that may replace them in the future) of the International Chamber of Commerce. The dates stipulated in the Contracts and Purchase Confirmations are essential terms.

Penalty Interest Rate. The Interest Rate plus two percentage points. Vendor: The company of the Xxxxx Group that is specified as the vendor in the Sale Confirmation. Delivery Window: The period (including both the initial date and final date) in which the products must be delivered by XXXXX to the Purchaser at the place stipulated in the Sale Confirmation and in accordance with the rules of interpretation of the Incoterms 2020 (or any rules that may replace them in the future) of the International Chamber of Commerce. The dates stipulated in the Contracts and Sale Confirmations are essential terms.

Penalty Interest Rate shall have the meaning provided in Clause Sixth hereof.