Common use of INTEREST AND CHARGE Clause in Contracts

INTEREST AND CHARGE. If the BUYER is in default to payment as to any Installment as provided in Paragraph 1 (a) (b) and (c) of this Article, the BUYER shall pay interest on such Installment at the rate of six percent ( 6 %) per annum from the due date thereof to the date of payment to the SELLERS of the full amount including interest; in case the BUYER shall fail take delivery of the VESSEL as provided in Paragraph 1 (d) of this Article, the BUYER shall be deemed in default of payment of the Fifth Installment and shall pay interest thereon at same rate as aforesaid from and including the day on which the VESSEL is tendered for delivery by the SELLERS. In any event default by the BUYER, the BUYER shall also pay all charges and expenses incurred by the SELLERS in consequence of such default.

INTEREST AND CHARGE. If the BUYER is in default to of a payment as to any Installment installment as provided in Paragraph 1 (a) (b1(a) and (cb) of this Article, the BUYER shall pay interest on such Installment installment at the rate of six percent ( 6 %) the three-month LIBOR plus 2% per annum from the due date thereof to the date of payment to the SELLERS of BUILDER on the full amount including interest; in case the BUYER shall fail to take delivery of the VESSEL as provided in Paragraph 1 (d1(a) of this Article, the BUYER shall be deemed in default of the final payment of the Fifth Installment and shall pay interest thereon at the same rate as aforesaid from and including the day on which the VESSEL is tendered for delivery by the SELLERSBUILDER. In any event of default by the BUYER, the BUYER shall also pay all charges and expenses incurred by the SELLERS BUILDER in consequence of such default.

INTEREST AND CHARGE. If the BUYER is in default to payment as to any Installment as provided in Paragraph 1 (a) (b1(a) and (cb) of this Article, the BUYER shall pay interest on such Installment at the rate of six eight percent ( 6 (8%) per annum from the due date thereof to the date of payment to the SELLERS BUILDER of the full amount including interest; in case the BUYER shall fail to take delivery of the VESSEL as provided in Paragraph 1 (d1(c) of this Article, the BUYER shall be deemed in default of payment of the Fifth Third Installment and shall pay interest thereon at the same rate as aforesaid from and including the day on which the VESSEL is tendered for delivery by the SELLERSBUILDER. In any event of default by the BUYER, BUYER the BUYER shall also pay all charges and expenses incurred by the SELLERS BUILDER in consequence of such default.

INTEREST AND CHARGE. If the BUYER is in default to payment as to any Installment as provided in Paragraph 1 (a) ), (b) and (c) of this Article, the BUYER shall pay interest on such Installment at the rate of six percent ( 6 (6%) per annum from the due date thereof to the date of payment to the SELLERS SELLER of the full amount including interest; in case the BUYER shall fail take delivery of the VESSEL as provided in Paragraph 1 (d) of this Article, the BUYER shall be deemed in default of payment of the Fifth Fourth Installment and shall pay interest thereon at same rate as aforesaid from and including the day on which the VESSEL is tendered for delivery by the SELLERSSELLER. In any event default by the BUYER, the BUYER shall also pay all charges and expenses incurred by the SELLERS SELLER and the BUILDER in consequence of such default.

INTEREST AND CHARGE. If the BUYER is in default to of payment as to any Installment as provided in Paragraph 1 (a) (b) and (c) of this Article, the BUYER shall pay interest on such Installment at the rate of six five percent ( 6 (5%) per annum from the due date thereof to the date of payment to the SELLERS BUILDER of the full amount including interest; in case the BUYER shall fail to take delivery of the VESSEL as provided in Paragraph 1 (d1(d) of this Article, the BUYER shall be deemed in default of payment of the Fifth Installment and shall pay interest thereon at the same rate as aforesaid from and including the day on which the VESSEL is tendered for delivery by the SELLERSBUILDER. In any event of default by the BUYER, the BUYER shall also pay all charges and expenses incurred by the SELLERS BUILDER in consequence of such default.