Common use of Default Interest Periods and Rates Clause in Contracts

Default Interest Periods and Rates. Interest under this Clause shall be calculated by reference to successive Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Interest Period shall be of one month or such other period as the Facility Agent may from time to time select and the rate of interest applicable for all or any part of a particular Interest Period shall be the rate per annum equal to the sum of 2% and the 72 69 rate which would be applicable to that overdue sum for (or, as the case may be, for that part of) that Interest Period under Clauses 6.1 and 6.4 if that overdue sum were a non-overdue Advance, except as follows: 20.2.1 subject to the following exceptions, until the third Business Day after the Facility Agent becomes aware of the relevant default, each Interest Period relating to the relevant overdue sum shall be an "overnight" period beginning on one (1) Business Day and ending on the next and the rate of interest for a particular "overnight" period shall be the rate per annum equal to the sum of 2%, the Margin and the rate at which the Lender is offering "overnight" deposits in US Dollars or Singapore Dollars (as the case may be), for that period in amounts comparable to that overdue sum; 20.2.2 if the overdue sum is the principal portion of an Advance or the Outstandings and becomes due otherwise than on an Interest Payment Date relating to that Advance or the Outstandings, the first default Interest Period applicable to that overdue sum shall end on that Interest Payment Date and the rate of interest applicable to that sum for that Interest Period shall be the rate per annum equal to the sum of 2% and the rate applicable to it immediately before it became due; and 20.2.3 if any event equivalent to that mentioned in Clause 11.3 occurs in relation to any Interest Period applicable to an overdue sum, the rate of interest payable on that sum for all or any part of that Interest Period shall be the sum of 2%, the Margin and the cost to the Lender (as certified by it to the Facility Agent and expressed as a rate per annum) of funding that sum during that Interest Period by whatever means it determines to be appropriate (including the cost occasioned by or attributable to complying with reserves, liquidity, deposit or other requirements for the time being imposed on it by the relevant authority or authorities).

Default Interest Periods and Rates. Interest under this Clause shall be calculated by reference to successive Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Interest Period shall be of one month or such other period as the Facility Agent may from time to time select and (1) the rate of interest applicable to an overdue sum denominated in US Dollars for all or any part of a particular Interest Period relating to that overdue sum shall be the rate per annum equal to the sum of 2% three per cent. and the 72 69 rate which would be applicable to that overdue sum for (or, as the case may be, for that part of) that Interest Period under Clauses 6.1 and 6.4 Clause 9(B) if that overdue sum were a non-overdue AdvanceAdvance and (2) the rate of interest applicable to any other overdue sum 51 49 denominated in Singapore Dollars for all or any part of a particular Interest Period relating to that overdue sum shall, in respect of each person's share of that overdue sum on each day during that Interest Period, be the rate per annum equal to the sum of three per cent., the Margin and the cost to that person (as certified by it to the Agent and expressed as a rate per annum) of funding its share (including, without limitation, the Swap Rate in relation to that overdue sum, except as follows:follows:- 20.2.1 (a) subject to the following exceptions, until the third Business Day after the Facility Agent becomes aware of the relevant default, each Interest Period relating to the relevant overdue sum denominated in US Dollars shall be an "overnight" period beginning on one (1) Business Day and ending on the next and the rate of interest for a particular "overnight" period shall be the rate per annum equal to the sum of 2%three per cent., the Margin and the arithmetic mean (rounded up, if necessary, to the next 1/16 per cent.) of the respective rates quoted by each Reference Bank to the Agent on request as the rate at which the Lender it is offering "overnight" deposits in US Dollars or Singapore Dollars (as the case may be), for that period in amounts comparable to that overdue sum; 20.2.2 (b) if the overdue sum is the of principal portion of an Advance or the Outstandings and becomes due otherwise than on an Interest Payment Date relating to that Advance or the OutstandingsAdvance, the first default Interest Period applicable to that overdue sum shall end on that Interest Payment Date and the rate of interest applicable to that sum for that Interest Period shall be the rate per annum equal to the sum of 2% three per cent. and the rate applicable to it immediately before it became due; and 20.2.3 (c) if any event equivalent to that those mentioned in Clause 11.3 12(C) occurs in relation to any Interest Period applicable to an overdue sum, the rate of interest payable on each person's share of that sum for all or any part of that Interest Period shall be the sum of 2%three per cent., the Margin and the cost to the Lender that person (as certified by it to the Facility Agent and expressed as a rate per annum) of funding that sum its share during that Interest Period by whatever means it determines to be appropriate (including the cost occasioned by or attributable to complying with reserves, liquidity, deposit or other requirements for the time being imposed on it by the relevant authority or authorities).

Default Interest Periods and Rates. Interest under this Clause shall be calculated by reference to successive Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Interest Period shall be of one month or such other period as the Facility Agent may from time to time select and (1) the rate of interest applicable to an overdue sum denominated in US Dollars for all or any part of a particular Interest Period relating to that overdue sum shall be the rate per annum equal to the sum of 2% three per cent. and the 72 69 rate which would be applicable to that overdue sum for (or, as the case may be, for that part of) that Interest Period under Clauses 6.1 and 6.4 Clause 9(B) if that overdue sum were a non-overdue AdvanceAdvance and (2) the rate of interest applicable to any other overdue sum denominated in Singapore Dollars for all or any part of a particular Interest Period relating to that overdue sum shall, in respect of each person's share of that overdue sum on each day during that Interest Period, be the rate per annum equal to the sum of three per cent., the Margin and the cost to that person (as certified by it to the Agent and expressed as a rate per annum) of funding its share of that overdue sum, except as follows:follows:- 20.2.1 (a) subject to the following exceptions, until the third Business Day after the Facility Agent becomes aware of the relevant default, each Interest Period relating to the relevant overdue sum denominated in US Dollars shall be an "overnight" period beginning on one (1) Business Day and ending on the next and the rate of interest for a particular "overnight" period shall be the rate per annum equal to the sum of 2%three per cent., the Margin and the arithmetic mean (rounded up, if necessary, to the next 1/16 per cent.) of the respective rates quoted by 52 49 each Reference Bank to the Agent on request as the rate at which the Lender it is offering "overnight" deposits in US Dollars or Singapore Dollars (as the case may be), for that period in amounts comparable to that overdue sum; 20.2.2 (b) if the overdue sum is the of principal portion of an Advance or the Outstandings and becomes due otherwise than on an Interest Payment Date relating to that Advance or the OutstandingsAdvance, the first default Interest Period applicable to that overdue sum shall end on that Interest Payment Date and the rate of interest applicable to that sum for that Interest Period shall be the rate per annum equal to the sum of 2% three per cent. and the rate applicable to it immediately before it became due; and 20.2.3 (c) if any event equivalent to that those mentioned in Clause 11.3 12(C) occurs in relation to any Interest Period applicable to an overdue sum, the rate of interest payable on each person's share of that sum for all or any part of that Interest Period shall be the sum of 2%three per cent., the Margin and the cost to the Lender that person (as certified by it to the Facility Agent and expressed as a rate per annum) of funding that sum its share during that Interest Period by whatever means it determines to be appropriate (including the cost occasioned by or attributable to complying with reserves, liquidity, deposit or other requirements for the time being imposed on it by the relevant authority or authorities).

Default Interest Periods and Rates. Interest under this Clause 21 shall be calculated by reference to successive Default Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Default Interest Period shall be of one month 3 months or such other shorter period as the Facility Agent may from time to time select and the rate of interest applicable for all or any part of a particular Default Interest Period shall be the rate per annum equal to the sum of 21% and the 72 69 rate which would be applicable to that overdue sum for (or, as the case may be, for that part of) that Default Interest Period under Clauses 6.1 and 6.4 Clause 8.2 (Normal Interest Rate) if that overdue sum were a non-overdue Advance, except as follows: 20.2.1 subject (a) Subject to the following exceptionsClauses 21.2(b) and 21.2(c), until the third first Business Day after the Facility Agent first becomes aware of the relevant default, the Agent may require that each Default Interest Period relating to the relevant overdue sum shall be an "“overnight" ” period beginning on one (1) Business Day and ending on the next and the next. The rate of interest for a particular "“overnight" ” period shall be the rate per annum equal to the sum of 21%, the Margin and relevant Margin, the rate at which the Lender is offering "overnight" deposits in US Dollars or Singapore Dollars (Mandatory Costs and, as the case may be), EONIA or LIBOR for that period in amounts comparable to that overdue sum;Default Interest Period. 20.2.2 if (b) If the overdue sum is the of principal portion of an Advance or the Outstandings and becomes due otherwise than on an Interest Payment before the Repayment Date relating to of that Advance or the OutstandingsAdvance, the first default Default Interest Period applicable to that overdue sum shall end on that Interest Payment Repayment Date and the rate of interest applicable to that sum for that Default Interest Period shall be the rate per annum equal to the sum of 21% and the rate applicable to it immediately before it became due; and. 20.2.3 if (c) If any event equivalent to that mentioned in Clause 11.3 14.1 (Triggering Events) occurs in relation to any Default Interest Period applicable to an overdue sum, the rate of interest payable on each Person’s share of that sum for all or any part of that Default Interest Period shall be the sum of 21%, the Margin relevant Margin, the Mandatory Costs and the cost to the Lender that Person (as certified by it to the Facility Agent and expressed as a rate per annum) of funding that sum its share during that Default Interest Period by whatever means it determines to be appropriate appropriate. (including d) Any Default Interest Period which would otherwise end on a non-Business Day shall instead end on the cost occasioned by next Business Day in the same calendar month (if there is one) or attributable to complying with reserves, liquidity, deposit or other requirements for the time being imposed on it by the relevant authority or authoritiespreceding Business Day (if there is not).