Common use of Interest Rate and Accrual Clause in Contracts

Interest Rate and Accrual. Each Interest-bearing Note bears Interest on its Interest Calculation Amount (as at the relevant Interest Payment Date) from the Interest Commencement Date on the Interest Basis. Interest Amounts will be payable in arrear on each Interest Payment Date and will be calculated in respect of the immediately preceding Interest Calculation Period on the basis of the Day Count Fraction. Interest will cease to accrue on each Note on the Interest Cessation Date save that if, upon due presentation, payment of the Redemption Amount due on such due date for redemption is not made, Interest will accrue on the unpaid portion of such amount of Principal that is improperly withheld or refused, in which case Interest will continue to accrue (before as well as after judgment and regardless of the specified Interest Basis) until the Relevant Date at the rate determined daily by the Calculation Agent as the rate for overnight deposits in the currency in which the payment is due to be made. Such interest shall be added annually to the overdue sum and shall bear interest accordingly.