Common use of Payment of Overdue Interest Clause in Contracts

Payment of Overdue Interest. The Corporation shall, on demand, pay to the Holder by depositing to the Payment Account, interest on all overdue payments in connection with this Debenture from the date any such payment becomes overdue and for so long as such amount remains unpaid at a rate per annum which is equal to the Interest Rate. Interest at the Interest Rate on overdue amounts shall be computed daily, compounded monthly and shall be payable both before and after default, maturity, and judgement.