Common use of Default in Payment Clause in Contracts

Default in Payment. Any payment not made within ten (10) days after it is due in accordance with this Agreement shall thereafter bear interest, compounded quarterly, at 5% above the prime rate from time to time in effect at XX Xxxxxx Xxxxx Bank or any successor bank.

Default in Payment. Any payment not made within ten (10) days after it is due in accordance with this Agreement shall thereafter bear interest, compounded quarterly, at 5% above the prime rate from time to time in effect at the XX Xxxxxx Xxxxx Bank of New York or any successor bank.