Common use of Interest on Default Clause in Contracts

Interest on Default. The Customer will pay to the Company on demand interest calculated at the Interest Rate on any Charges or other money payable by the Customer which remain unpaid for 7 days after the due date for payment, such interest to be calculated from and including the relevant due date and to accrue on a daily basis until paid.

Interest on Default. The Customer will pay to the Company on demand interest calculated at the Interest Rate on any Charges or other money payable by the Customer which remain unpaid for 7 days after the due date for payment, such interest to be calculated from and including the relevant due date and to accrue on a daily basis until paid.paid.‌