Interest on Default. 19. (1) If, by reason of the neglect or default of the Purchaser, the purchase is not completed on the Settlement Day the Purchaser shall pay to the Vendor interest on the Purchase Price, or on so much of the Purchase Price as from time to time remains unpaid, at the rate specified in Item 20 or, if no rate is specified in Item 20, at the Default Rate, computed from the Settlement Day until either the date of completion or the date of the determination of this Agreement.
Appears in 6 contracts
Samples: Sale and Purchase, Sale and Purchase of Land, Sale and Purchase of Land
