Common use of Interest on Payments Clause in Contracts

Interest on Payments. Without limiting the rights of the Executive at law or in equity, if the Company fails to make any payment required to be made hereunder on a timely basis, the Company shall pay interest on the amount thereof on demand at an annualized rate of interest equal to the Prime Rate as reported in the Money Rates section of The Wall Street Journal (or in the successor to such section or, if there is no such successor section, the most comparable Prime Rate), compounded daily (but in no event shall such interest exceed the highest lawful rate).

Interest on Payments. Without limiting the rights of the Executive at -------------------- law or in equity, if the Company fails to make any payment required to be made hereunder on a timely basis, the Company shall pay interest on the amount thereof on demand at an annualized rate of interest equal to the Prime Rate as reported in the Money Rates section of The Wall Street Journal (or in the successor to such section or, if there is no such successor section, the most comparable Prime Rate), compounded daily (but in no event shall such interest exceed the highest lawful rate).

Interest on Payments. Without limiting the rights of the Executive -------------------- at law or in equity, if the Company fails to make any payment required to be made hereunder on a timely basis, the Company shall pay interest on the amount thereof on demand at an annualized rate of interest equal to the Prime Rate as reported in the Money Rates section of The Wall Street Journal (or in the successor to such section or, if there is no such successor section, the most comparable Prime Rate), compounded daily (but in no event shall such interest exceed the highest lawful rate).