Common use of Compounding Clause in Contracts

Compounding. To the extent permitted by applicable law, any interest payable under clause 14.1 which is not paid when due for payment may be added to the overdue amount by the Bank. Interest is payable on the increased overdue amount at the Default Rate in the manner set out in clause 14.1.

Compounding. To the extent permitted by applicable law, any interest payable under clause 14.1 which is not paid when due for payment may be added to the overdue amount by the BankBank at intervals which the Bank determines from time to time or, if no determination is made, every 30 days. Interest is payable on the increased overdue amount at the Default Rate in the manner set out in clause 14.1.