Common use of Deferred Interest Clause in Contracts

Deferred Interest. 4.1 The Borrower may, with the consent of the Lender, defer the payment of any Interest Amount in respect of the Loan (each such amount being a "Deferred Interest Amount").‌ 4.2 Prior to any consent being given by the Lender under Clause 4.1, the Lender and the Borrower shall agree a rate at which interest shall accrue on such Deferred Interest Amount (the amount of any such accrued interest being "Additional Interest"). The Lender and the Borrower may agree at any time to revise the rate at which Additional Interest accrues. 4.3 The Borrower may, subject to Clause 4.4, pay the Deferred Interest Amount together with any Additional Interest accrued to the Lender at any time. 4.4 Following any deferral pursuant to Clause 4.1, the Lender may, upon no less than 120 calendar days' written notice, require the Borrower to pay the Deferred Interest Amount. Upon the expiry of such notice period, the Borrower shall pay to the Lender the Deferred Interest Amount together with any Additional Interest accrued.‌