Common use of Delinquent Payments Clause in Contracts

Delinquent Payments. Payments provided for in this Agreement shall, when overdue, bear interest at the then existing prime rate at Citibank of New York (or its successor) plus four percent (4%) per annum until paid, but in no event shall such interest exceed the usury limit, if any, as may exist from time to time in the State of Nevada.