Common use of Default Interest on late payments Clause in Contracts

Default Interest on late payments. (1) Subject to clause F.17, if either of us does not pay any amount due to the other under this Agreement, the party owed the payment (or the Payment Agent if the DHB is owed), may charge the other party interest from the date payment was due until the amount due is paid ("Default Interest"). (2) If either of us owes any amount as a result of any error in relation to a Claim or a payment, the due date for the payment of this amount will be 1 month after the date of notice given under clause F.17. (3) The Default Interest rate will be 2 percentage points per annum above the average New Zealand dollar 90 day bank xxxx rate (rounded up to the nearest second decimal place) as appearing at 11:00 or as soon as practicable after that time on the relevant day on page BKBM of the Reuters screen (or its successor or equivalent page), and will be calculated on a daily basis.

Default Interest on late payments. (1) Subject to clause F.17, if either of us does not pay any amount due to the other under this Agreement, the party owed the payment (or the Payment Agent if the DHB is owed), may charge the other party interest from the date payment was due until the amount due is paid ("Default Interest"). (2) If either of us owes any amount as a result of any error in relation to a Claim or a payment, the due date for the payment of this amount will be 1 month after the date of notice given under clause F.17. (3) The Default Interest rate will be 2 percentage points per annum above the average New Zealand dollar 90 day bank xxxx bill rate (rounded up to the nearest second decimal place) as appearing at 11:00 or as soon as practicable after that time on the relevant day on page BKBM of the Reuters screen (or its successor or equivalent page), and will be calculated on a daily basis.

Default Interest on late payments. (1) Subject to clause F.17, if either of us does not pay any amount due to the other under this Agreement, the party owed the payment (or the Payment Agent if the DHB D HB is owed), may charge the other party interest from f rom the date payment was due until the amount due is paid ("" Default Interest"). (2) If either of us owes any amount as a result of any error in relation to a Claim or a payment, the due date for the payment of this amount will be 1 month after the date of notice given under clause F.17. (3) The Default Interest rate will be 2 percentage points per annum above the average New Zealand dollar 90 day bank xxxx bill rate (rounded up to the nearest second decimal place) as appearing at 11:00 or as soon as practicable after that time on the relevant day on page BKBM of the Reuters screen (or its successor or equivalent page), and will be calculated on a daily basis.