Due to NRDA Event of Default. In case NRDA Event of Default, then the Developer shall be entitled to receive from the NRDA, Delayed Interest calculated on the default amount for the number of days delayed.
Appears in 3 contracts
Samples: Grant of Development Rights for Group Housing Development, Grant of Development Rights for Group Housing Development, License Agreement
Due to NRDA Event of Default. In case the event of occurrence of NRDA Event of Default, then the Developer shall be entitled to receive from the NRDA, delayed interest @ 14% per annum (the “Delayed Interest Interest”), calculated on the default amount for the number of days delayed.
Appears in 2 contracts
Samples: License Agreement, License Agreement
