Common use of Interest Calculation on Late Payments Clause in Contracts

Interest Calculation on Late Payments. Interest will accrue from the due date at a rate equal to the Three Month London Interbank Offering Rate (LIBOR) as published in the Wall Street Journal (or if not available, a comparable publication) on the due date or, if the due date is not a business day, on the next business day after the due date, plus 50 basis points per annum to be compounded and adjusted every three months after such due date.

Interest Calculation on Late Payments. Interest will accrue from the due date at a rate equal to the Three Month London Interbank Offering Rate (LIBOR) } as published in the Wall Street Journal (or if not available, a comparable publication) } on the due date or, if the due date is not a business day, on the next business day after the due date, plus 50 basis points per annum to be compounded and adjusted every three months after such due date.