Common use of COMPENSATORY INTEREST Clause in Contracts

COMPENSATORY INTEREST. The Borrower shall reimburse to the Lender on request any amount disbursed by the Lender for the recovery of his claim in principal, interest and accessories and its preservation and protection as well as the guarantees securing the loan. In addition, he shall reimburse on request any amount disbursed by the Lender to ensure the performance of any obligation of the Borrower, for the repair and upkeep of property securing the loan, and for the payment of insurance premiums, taxes, assessments or any other charge related to the loan. Such reimbursement shall be made with interest at the annual rate provided for above, from the time such disbursement is made by the Lender.

COMPENSATORY INTEREST. The Borrower shall reimburse to the Lender on request any amount disbursed by the Lender for the recovery of his claim in principal, interest and accessories and its preservation and protection as well as the guarantees securing the leverage loan. In addition, he shall reimburse on request any amount disbursed by the Lender to ensure the performance of any obligation of the Borrower, for the repair and upkeep of property securing the leverage loan, and for the payment of insurance premiums, taxes, assessments or any other charge related to the leverage loan. Such reimbursement shall be made with interest at the annual rate provided for above, from the time such disbursement is made by the Lender.