Common use of Interest cap Clause in Contracts

Interest cap. Notwithstanding any other provision of this Deed, the Crown may (in is sole and unfettered discretion) decline to accept liability for any amount of Interest on or in respect of any Indebtedness to the extent that that Interest accrues after the date by which the Crown reasonably considers adequate time has elapsed following the date on which that Indebtedness became due and payable in order for the relevant Creditor to submit a Notice of Claim in respect of, and for the Crown to thereafter satisfy itself as to the extent (if any) of its liability under the Crown Guarantee respect of, the relevant Indebtedness (taking into account the date on which the Crown sent a form of Notice of Claim to the relevant Creditor or waived the requirement for it to receive a Notice of Claim), and to the extent that the Crown does so decline to accept liability for any such amount of interest it shall not be liable under the Crown Guarantee for that amount of interest. For the purposes of this clause 2.9, “

Interest cap. Notwithstanding any other provision of this Deed, the Crown may (in is sole and unfettered discretion) decline to accept liability for any amount of Interest on or in respect of any Indebtedness to the extent that that Interest accrues after the date by which the Crown reasonably considers adequate time has elapsed following the date on which that Indebtedness became due and payable in order for the relevant Creditor to submit a Notice of Claim in respect of, and for the Crown to thereafter satisfy itself as to the extent (if any) of its liability under the Crown Guarantee respect of, the relevant Indebtedness (taking into account the date on which the Crown sent a form of Notice of Claim to the relevant Creditor or waived the requirement for it to receive a Notice of Claim), and to the extent that the Crown does so decline to accept liability for any such amount of interest it shall not be liable under the Crown Guarantee for that amount of interest. For the purposes of this clause 2.92.7, “Interest” means any amount of interest and any amount/s in the nature of interest, or having a similar purpose or effect to interest, or which the Crown reasonably considers to be economically equivalent to interest (including any fee or other amount incurred on a regular or recurring basis).