Common use of Interest and Compensation Clause in Contracts

Interest and Compensation. (i) If the Client fails to make any payment under the Agreement when due, the Client will, to the fullest extent permitted by law, pay to GTJAFX interest (before and after judgment) on such unpaid amount, from (and including) the due date to (but excluding) the date of actual payment, at the Default Rate, as determined by GTJAFX. (ii) Interest under this Clause 5.6 (Interest and Compensation) will be calculated by GTJAFX on the basis of daily compounding and the actual number of days elapsed.