Common use of Default & Consequences of Default Clause in Contracts

Default & Consequences of Default. 11.1 Interest on overdue amounts owed by the Buyer to the Seller accrues daily from the date when payment becomes due until the date of payment at 2.5% compounding per calendar month or part month.

Default & Consequences of Default. 11.1 9.1 Interest on overdue amounts owed by from the Buyer to the Seller accrues shall accrue daily from the date when payment becomes due until the date of payment at 2.5a rate of 1.5% compounding per calendar month or part month.