Common use of Interest on Overdue Money Clause in Contracts

Interest on Overdue Money. 66.1 The Borrower must pay to the Lender interest on all amounts that from time to time fall due for payment under the Agreement but are unpaid, both before and (as a separate and independent obligation) after any judgment. Such interest will accrue each day from and including the date such amounts fall due for payment until they are paid or satisfied. The Lender will calculate interest on such overdue amounts on the basis of the Overdue Money Rate. The Borrower and the Guarantor must pay such interest on demand.