Common use of Interest for late payment Clause in Contracts

Interest for late payment. (a) If the relevant Borrower fails to pay any sum (including, without limitation, any sum payable pursuant to this clause 5.5) on its due date for payment under this Agreement that Borrower shall pay interest on such sum from the due date up to the date of actual payment (as well after as before judgment) at a rate determined pursuant to this clause 5.5. The period beginning on such due date and ending on such date of payment shall be divided into successive periods of not more than three months as selected by the Agent, the Swingline Bank or the Overdraft Bank (as the case may be) each of which (other than the first, which shall commence on such due date) shall commence on the last day of the preceding such period.

Interest for late payment. (a) If the relevant Borrower fails to pay any sum (including, without limitation, any sum payable pursuant to this clause 5.55.3) on its due date for payment under this Agreement that Agreement, the Borrower shall pay interest on such sum from the due date up to the date of actual payment (after as well after as before judgmentjudgement) at a rate and for periods determined by the Agent pursuant to this clause 5.55.3. The period beginning on such due date and ending on such date of payment shall be divided into successive periods of not more than three months one month as selected by the Agent, the Swingline Bank or the Overdraft Bank (as the case may be) Agent each of which (other than the first, which shall commence on such due date) shall commence on the last day of the preceding such period.. The rate of interest applicable to each such period shall be the aggregate (as determined by the Agent) of (a) two per cent (2%), (b) the Margin, and (c)

Interest for late payment. (a) 5.5.1 If the relevant Borrower fails to pay any sum (including, without limitation, any sum payable pursuant to this clause 5.5) on its due date for payment under this Agreement that Borrower shall pay interest on such sum from the due date up to the date of actual payment (as well after as before judgmentjudgement) at a rate determined pursuant to this clause 5.5. The period beginning on such due date and ending on such date of payment shall be divided into successive periods of not more than three months as selected by the Agent, the Swingline Bank or the Overdraft Bank (as the case may be) each of which (other than the first, which shall commence on such due date) shall commence on the last day of the preceding such period.