Common use of Default Interest Periods Clause in Contracts

Default Interest Periods. If any sum due and payable by an Obligor hereunder is not paid on the due date therefor in accordance with Clause 33.1 (Payments to the Agent) or if any sum due and payable by an Obligor under any judgment of any court in connection herewith is not paid on the date of such judgment, the period beginning on such due date or, as the case may be, the date of such judgment and ending on the date upon which the obligation of such Obligor to pay such sum is discharged shall be divided into successive periods, each of which (other than the first) shall start on the last day of the preceding such period and the duration of each of which shall (except as otherwise provided in this Clause 12) be selected by the Agent.

Default Interest Periods. If any sum due and payable by an Obligor hereunder is not paid on the due date therefor in accordance with Clause 33.1 41.1 (Payments to the Agent) or if any sum due and payable by an Obligor under any judgment of any court in connection herewith is not paid on the date of such judgment, the period beginning on such due date or, as the case may be, the date of such judgment and ending on the date upon which the obligation of such Obligor to pay such sum is discharged shall be divided into successive periods, each of which (other than the first) shall start on the last day of the preceding such period and the duration of each of which shall (except as otherwise provided in this Clause 1220) be selected by the Agent.

Default Interest Periods. If any sum due and payable by an Obligor hereunder is not paid on the due date therefor in accordance with Clause 33.1 31.1 (Payments to the Agent) or if any sum due and payable by an Obligor under any judgment of any court in connection herewith is not paid on the date of such judgment, the period beginning on such due date or, as the case may be, the date of such judgment and ending on the date upon which the obligation of such Obligor to pay such sum is discharged shall be divided into successive periods, each of which (other than the first) shall start on the last day of the preceding such period and the duration of each of which shall (except as otherwise provided in this Clause 1211 (Default Interest)) be selected by the Agent.

Default Interest Periods. If any sum due and payable by an Obligor hereunder is not paid on the due date therefor in accordance with Clause 33.1 ‎33.1 (Payments to the Agent) or if any sum due and payable by an Obligor under any judgment of any court in connection herewith is not paid on the date of such judgment, the period beginning on such due date or, as the case may be, the date of such judgment and ending on the date upon which the obligation of such Obligor to pay such sum is discharged shall be divided into successive periods, each of which (other than the first) shall start on the last day of the preceding such period and the duration of each of which shall (except as otherwise provided in this Clause 12‎12 (Default Interest)) be selected by the Agent.