Common use of Interest on Indebtedness Clause in Contracts

Interest on Indebtedness. 7.1 The Client agrees to pay interest to Wintone in respect of any amount, moneys, funds, indebtedness or liabilities owing to Wintone at such rate and calculated in such manner as shall be specified or determined by Wintone from time to time. Any variation of the rate of interest or manner of calculation shall be effected by Wintone without notice to the Client. The interest accrued shall be debited to the Client's account with the Lender and thenceforward such accrued interest shall bear interest at such rate and calculated in such manner as shall be specified or determined by Wintone from time to time. All the interests charged by the Lender under this Clause shall become due and payable forthwith on demand by Wintone.

Interest on Indebtedness. 7.1 6.1 The Client agrees to pay interest to Wintone in respect of any amount, moneys, funds, indebtedness or liabilities owing to Wintone at such rate and calculated in such manner as shall be specified or determined by Wintone from time to time. Any variation of the rate of interest or manner of calculation shall be effected by Wintone without notice to the Client. The interest accrued shall be debited to the Client's account with the Lender and thenceforward such accrued interest shall bear interest at such rate and calculated in such manner as shall be specified or determined by Wintone from time to time. All the interests charged by the Lender under this Clause shall become due and payable forthwith on demand by Wintone.