Common use of Interest on Unpaid Sums Clause in Contracts

Interest on Unpaid Sums. (a) If any Borrower fails to pay any sum (including, without limitation, any sum payable pursuant to this clause 5.4) on its due date for payment under this Agreement such Borrower shall pay interest on such sum from the due date up to the date of actual payment (as well after as before judgment) at a rate determined by the Facility Agent pursuant to this clause 5.4. (b) The period beginning on the due date for payment and ending on the date of actual payment shall be divided into successive periods of not more than three months as selected by the Facility Agent (after consultation with the Banks so far as reasonably practicable in the circumstances) each of which (other than the first, which shall commence on such due date) shall commence on the last day of the preceding such period but so that if the unpaid sum is an amount of principal which shall have become due and payable prior to the next succeeding Interest Payment Date relating thereto or, as the case may be, prior to the relevant Maturity Date, then the first such period selected by the Facility Agent shall end on such Interest Payment Date or, as the case may be, such Maturity Date. (c) The rate of interest applicable to each period referred to in clause 5.4(b) shall (subject to clause 5.6) be the aggregate (as determined by the Facility Agent) of (i) one per cent per annum, (ii) the Applicable Margin (iii) the Additional Cost and (iv) LIBOR but so that if the unpaid sum is an amount of principal (as referred to in clause 5.4(b)) interest shall be payable on such unpaid sum during the first period determined pursuant to clause 5.4(b) at a rate one per cent above the rate applicable thereto immediately before it fell due.

Interest on Unpaid Sums. (a) If any Borrower fails to pay any sum (including, without limitation, any sum payable pursuant to this clause 5.45.2) on its due date for payment under this Agreement such Borrower shall pay interest on such sum from the due date up to the date of actual payment (as well after as before judgment) at a rate determined by the Facility Agent pursuant to this clause 5.45.2. (b) The period beginning on the due date for payment and ending on the date of actual payment shall be divided into successive periods of not more than three months as selected by the Facility Agent (after consultation with the Banks so far as reasonably practicable in the circumstances) each of which (other than the first, which shall commence on such due date) shall commence on the last day of the preceding such period but so that if the unpaid sum is an amount of principal which shall have become due and payable prior to the next succeeding Interest Payment Date relating thereto or, as the case may be, prior to the relevant Maturity Date, then the first such period selected by the Facility Agent shall end on such Interest Payment Date or, as the case may be, such Maturity Date. (c) The rate of interest applicable to each period referred to in clause 5.4(b5.2(b) shall (subject to clause 5.65.4) be the aggregate (as determined by the Facility Agent) of (i) one per cent per annum, (ii) the Applicable Margin (iii) the Additional Cost and (iv) LIBOR but so that if the unpaid sum is an amount of principal (as referred to in clause 5.4(b5.2(b)) interest shall be payable on such unpaid sum during the first period determined pursuant to clause 5.4(b5.2(b) at a rate one per cent above the rate applicable thereto immediately before it fell due. (d) Interest under this clause 5.2 shall be due and payable on the last day of each period determined by the Facility Agent pursuant to this clause 5.2 or, if earlier, on the date on which the sum in respect of which such interest is accruing shall actually be paid or on such date or other dates which the Facility Agent may specify by written notice to the relevant Borrower (but not more frequently than once a month). Any interest payable under this clause 5.2 which is not paid when due shall be deemed an unpaid sum and shall itself bear interest accordingly.

Interest on Unpaid Sums. (a) If any Borrower fails to pay any sum (including, without limitation, any sum payable pursuant to this clause 5.4) on its due date for payment under this Agreement such Borrower shall pay interest on such sum from the due date up to the date of actual payment (as well after as before judgment) at a rate determined by the Facility Agent pursuant to this clause 5.4. (b) The period beginning on the due date for payment and ending on the date of actual payment shall be divided into successive periods of not more than three months as selected by the Facility Agent (after consultation with the Banks so far as reasonably practicable in the circumstances) each of which (other than the first, which shall commence on such due date) shall commence on the last day of the preceding such period but so that if the unpaid sum is an amount of principal which shall have become due and payable prior to the next succeeding Interest Payment Date relating thereto or, as the case may be, prior to the relevant Maturity Date, then the first such period selected by the Facility Agent shall end on such Interest Payment Date or, as the case may be, such Maturity Date. (c) The rate of interest applicable to each period referred to in clause 5.4(b) shall (subject to clause 5.6) be the aggregate (as determined by the Facility Agent) of (i) one per cent per annum, (ii) the Applicable Margin (iii) the Additional Cost and (iv) LIBOR but so that if the unpaid sum is an amount of principal (as referred to in clause 5.4(b)) interest shall be payable on such unpaid sum during the first period determined pursuant to clause 5.4(b) at a rate one per cent above the rate applicable thereto immediately before it fell due. (d) Interest under this clause 5.4 shall be due and payable on the last day of each period determined by the Facility Agent pursuant to this clause 5.4 or, if earlier, on the date on which the sum in respect of which such interest is accruing shall actually be paid or on such date or other dates which the Facility Agent may specify by written notice to the Primary Borrower (but not more frequently than once a month). Any interest payable under this clause 5.4 which is not paid when due shall be deemed an unpaid sum and shall itself bear interest accordingly.

Interest on Unpaid Sums. (a) If any Borrower Obligor fails to pay any sum (including, without limitation, any sum payable pursuant to this clause 5.4) on its due date for payment under this Agreement such Borrower Obligor shall pay interest on such sum from the due date up to the date of actual payment (after as well after as before judgment) at a rate determined by the Facility Agent pursuant to this clause 5.4. (b) The period beginning on the due date for payment and ending on the date of actual payment shall be divided into successive periods of not more than three months as selected by the Facility Agent (after consultation with the Banks so far as reasonably practicable in the circumstances) each of which (other than the first, which shall commence on such due date) shall commence on the last day of the preceding such period but so that if the unpaid sum is an amount of principal which shall have become due and payable prior to the next succeeding Interest Payment Date relating thereto or, as the case may be, prior to the relevant Maturity Date, then the first such period selected by the Facility Agent shall end on such Interest Payment Date or, as the case may be, such Maturity Date. (c) The rate of interest applicable to each period referred to in clause 5.4(b) shall (subject to clause 5.65.6 (Alternative Interest Rates)) be the aggregate (as determined by the Facility Agent) of (i) one per cent per annum, (ii) the Applicable Margin (iii) the Additional Mandatory Cost Rate and (iv) LIBOR but so that if the unpaid sum is an amount of principal (as referred to in clause 5.4(b)) interest shall be payable on such unpaid sum during the first period determined pursuant to clause 5.4(b) at a rate one per cent above the rate applicable thereto immediately before it fell due. (d) Interest under this clause 5.4 shall be due and payable on the last day of each period determined by the Facility Agent pursuant to this clause 5.4 or, if earlier, on the date on which the sum in respect of which such interest is accruing shall actually be paid or on such date or other dates which the Facility Agent may specify by written notice to the Primary Borrower (but not more frequently than once a month). Any interest payable under this clause 5.4 which is not paid when due shall be deemed an unpaid sum and shall itself bear interest accordingly.