Common use of Payment; Interest on Payment Clause in Contracts

Payment; Interest on Payment. If any Third Party Claim shall have been finally determined (including if any Action (defined below) for indemnification under this Section 17 shall have been finally determined), the amount of such final determination shall be paid to the Indemnified Party, on demand in immediately available funds. A Third Party Claim or Action and the liability for and amount of Losses, shall be deemed to be "finally determined" for purposes of this Section 17 when the parties to such Third Party Claim or Action have so determined by mutual agreement or, if disputed, when a final non-appealable Governmental Order (defined below) with respect thereto shall have been entered. Any amounts not paid when due pursuant to this Section 17 shall bear interest from the date thereof until the date paid at a rate equal to the rate publicly announced from time to time by Citibank, N.A. as its prime or base rate. Nothing in this Section 17 shall operate to bar an Indemnified Party from seeking and (where appropriate) obtaining interest on any claim to the extent ordered by a court adjudicating any Action brought by the Indemnified Party against an Indemnifying Party.