Common use of PAYMENT OF DEFAULT Clause in Contracts

PAYMENT OF DEFAULT. Interest Any interest which shall have accrued under Clause 19.2 (Default Interest) in respect of an Unpaid Sum shall be due and payable and shall be paid by the relevant Obligor, together with any Mandatory Liquid Asset Costs Rate in respect thereof on the last day of each Term in respect thereof or on such other dates as the Agent may specify by notice to the relevant Obligor.

PAYMENT OF DEFAULT. Interest Any interest which shall have accrued under Clause 19.2 31.2 (Default Interest) in respect of an Unpaid Sum shall be due and payable and shall be paid by the relevant Obligor, together with any Mandatory Liquid Asset Costs Rate in respect thereof Obligor owing such Unpaid Sum on the last day of each Term Interest Period in respect thereof or on such other dates as the Facility Agent may specify (acting reasonably) by notice to the relevant such Obligor.

PAYMENT OF DEFAULT. Interest Any interest which shall have accrued under Clause 19.2 27.2 (Default Interest) in respect of an Unpaid Sum shall be due and payable and shall be paid by the relevant Obligor, together with any Mandatory Liquid Asset Costs Rate in respect thereof Obligor owing such Unpaid Sum to the Finance Parties to whom such Unpaid Sum is owed on the last day of each Term the Interest Period in respect thereof or on such other dates as the Agent may specify by notice to the relevant such Obligor.

PAYMENT OF DEFAULT. Interest Any interest which shall have accrued under Clause 19.2 20.1 (Default Interest) in respect of an Unpaid Sum shall be due and payable and shall be paid by the relevant Obligor, together with any Mandatory Liquid Asset Costs Rate in respect thereof on the last day of each Term in respect thereof or on such other dates as the Agent may specify by notice to the relevant Obligor.