Common use of Default & Consequences of Default Clause in Contracts

Default & Consequences of Default. 13.1 Interest on overdue invoices or outstanding amounts payable to the Seller shall accrue from the date when payment becomes due daily until the date of payment at a rate of 2.5% per calendar month and such interest shall comp ound monthly at such a rate before and after any judgement.

Default & Consequences of Default. 13.1 11.1 Interest on overdue invoices or outstanding amounts payable to the Seller Supplier shall accrue daily from the date when payment becomes due daily due, until the date of payment payment, at a rate of 2.51.5% per calendar month and such interest shall comp ound compound monthly at such a rate before and after any judgementjudgment.