Common use of Interest on Unpaid Money Clause in Contracts

Interest on Unpaid Money. If the Resident or the Operator defaults in payment of any monies payable under this Occupation Right Agreement for 14 days then the Resident or the Operator respectively shall on demand pay interest on the monies unpaid from the due date for payment down to the date of payment at the rate of 4% per annum above the bank overdraft interest rate of the Operator calculated on a daily basis.

Interest on Unpaid Money. If the Resident or the Operator defaults in payment of any monies moneys payable under this Occupation Right Agreement for 14 days then the Resident or the Operator respectively shall on demand pay interest on the monies moneys unpaid from the due date for payment down to the date of payment at the rate of 4% per annum above the bank overdraft interest rate of the Operator calculated on a daily basis.

Interest on Unpaid Money. If the Resident or the Operator defaults in payment of any monies moneys payable under this Occupation Right Agreement for 14 days then the Resident or the Operator respectively shall on demand pay interest on the monies moneys unpaid from the due date for payment down to the date of payment at the rate of 4% per annum above the bank published business overdraft interest rate of the Operator Operator’s bank calculated on a daily basis.