Currency and interest. All payments and accounts shall be made in US Dollars, and all fractional amounts shall be rounded to the nearest whole dollar. Any payment not made when due and payable hereunder, shall from the date such payment was due bear interest at a rate equal to the [time period] US Treasury rate in effect on such date plus [number (#)] bps. In the event any payment due hereunder is not made within [time period] of the date it is due and payable the rate will be reset every [time period] to the US Treasury rate in effect on [time period] anniversary of the date such payment was due, until such payment is made.
Appears in 8 contracts
Samples: Reinsurance Agreement (Separate Acct No 49 of the Equit Life Assu Soci of the U S), Reinsurance Agreement (Separate Account No 45 of Equitable Life Assur Society of Us), Form of Agreement (Separate Account No 45 of Equitable Life Assur Society of Us)
