Default Interest and Penalty. (a) If the Issuer fails to pay any amount (other than in payment of interest) payable by it pursuant to, and in accordance with, Clause 20 (Order of Priority) of the Trust Agreement on its due date, interest shall accrue on the overdue amount (at the option of the Subordinated Lender and with notice to the Issuer) from the due date up to the date of actual payment (both before and after judgment) at the rate which would have been payable for successive Interest Periods. Any interest accruing under this Clause 5.3 shall become due by the Issuer on demand by the Subordinated Lender but shall only be paid in accordance with the applicable Order of Priority, provided sufficient funds are available.
Default Interest and Penalty. (a) If the Issuer fails to pay any amount (other than in payment of interest) due and payable by it pursuant to, and in accordance with, clause 21 (Order of Priority) of the Trust Agreement on its due date, interest shall accrue on the overdue amount (at the opinion of the Subordinated Lender and with notice to the Issuer) from the due date up to the date of actual payment (both before and after judgment) at the rate which would have been payable for successive Interest Periods. Any interest accruing under this clause 5.3 (Default Interest and Penalty) shall be immediately payable by the Issuer on demand by the Subordinated Lender.
Default Interest and Penalty. (a) The Borrower shall be in payment default (Verzug) if it fails to pay any amount (other than in payment of interest and fees, other than the commitment fees under Clause 11.1 (Commitment Fee)) payable by it under a Finance Document on its due date. On the occurrence of such a payment default (Verzug), interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate one (1) per cent. higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.6 shall be immediately payable by the Borrower on demand by the Facility Agent.
Default Interest and Penalty. (a) An Obligor shall be in default (Verzug) if it fails to pay any amount (other than in payment of interest and fees, other than commitment fees) payable by it under a Finance Document on its due date. On the occurrence of such a default (Verzug), interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate per annum determined by the Facility Agent from time to time to be the aggregate of (i) EURIBOR or, in relation to any Loan in Dollars, LIBOR, (ii) 4.00 per cent. and (iii) the Mandatory Cost for such period as the Facility Agent may select on the Business Day immediately following such date, such rate to be recalculated on the same basis at the end of each such period until such sum is received by the Facility Agent. Any interest accruing under this Clause 10.7 shall be immediately payable by the Obligor on demand by the Facility Agent.
Default Interest and Penalty. If the Co-Borrowers fail to pay any sums when due and payable pursuant to this Agreement, the Co-Borrowers shall pay the default interest at the Compensatory Interest Rate applicable on the due date for such repayment from and including the due date until the date on which the Co-Borrowers actually make the payment, and the business tax and stamp tax shall be borne by the Co-Borrowers. If (i) the repayment has been overdue for no more than 6 months, the Co-Borrowers shall pay a penalty calculated at 10% of the abovementioned Compensatory Interest Rate [from and including the due date until the date on which the Co-Borrowers actually make the payment]; and if (ii) the repayment has been overdue for more than 6 months, in addition to the penalty calculated in accordance with clause (i) above, the Co-Borrowers shall pay a penalty calculated at 20% of the Compensatory Interest Rate [from and including the first day after 6 months from the due date until the date on which the Co-Borrowers actually make the payment], and the business tax and stamp tax shall be borne by the Co-Borrowers. In the event of change of the Compensatory Interest Rate, the Interest Adjustment Date shall be the first day of the following month. The default interest and the penalty shall daily accrue on the basis of actual number of days elapsed and a year of 365 days. If the Co-Borrowers' repayment of interest has been overdue for more than one year (or a shorter period permitted by applicable laws) and the Co-Borrowers fail to make the payment after the receipt of notice from the Facility Agent, the Lenders may add such accrued and unpaid interest into the Outstanding Principal Amount for the purpose of computation of interest. If the Co-Borrowers fail to pay the arrangement fees then due to Mandated Lead Arrangers, the agency fees then due to the Agent Banks, or the expenses advanced by the Mandated Lead Arrangers or the Agent Banks or the Lenders, the Mandated Lead Arrangers, the Agent Banks or the Lenders may directly add such fees or advances due but remained unpaid by the Co-Borrowers into the Outstanding Principal Amount, and the Co-Borrowers shall pay the default interest and penalty in accordance with the above. The Co-Borrowers shall, on demand, immediately pay such default interest and penalty.
Default Interest and Penalty except as otherwise agreed, if the Customer fails to make repayment of the principal on the date such repayment is due, the Customer shall pay default interest at the above-mentioned rate. In the event of any default of repayment of the capital and/or interest, a past due penalty equivalent to ten percent (10%) of the aforesaid interest rate shall be additionally paid for the default payment that is overdue within six months; and twenty percent (20%) thereof for the default payment that is overdue for more than six months, calculated from the date on which the repayment is due for the principal, and from the date on which the interest should accrue for the interest.
Default Interest and Penalty. In the event that the Borrower shall fail to timely pay any principal or interest due and payable hereunder, the Borrower shall pay default interest on such principal or interest at the rate which is one point five percent (1.5%) per annum above the applicable interest rate of the Facility commencing from the due date or payment date (inclusive) until the date of actual payment. In addition to such default interest, with respect to any principal or interest due and unpaid for a period of less than six (6) months, a penalty charge shall be paid at the rate equal to ten percent (10%) of the default interest Rate; for any amount due and unpaid for a period exceeding six (6) months, a penalty charge shall be paid at the rate equal to twenty percent (20%) of the default interest rate. If the Borrower fails to pay any amount which is due for a period of more than one (1) year (or such shorter period permitted by law) after demand for payment, the Facility Agent may roll over such default interest into any principal of the Facility for the calculation of interest.
