Common use of Prejudgment and Postjudgment Interest Clause in Contracts

Prejudgment and Postjudgment Interest. If XXXX becomes entitled to the entry of a judgment against any Merchant or any Guarantor, then XXXX will be entitled to the recovery of prejudgment interest at a rate of 18% per annum, or the maximum rate permitted by applicable law if less, and upon entry of any such judgment, it will accrue interest at a postjudgment rate of 18% per annum, or the maximum rate permitted by applicable law if less, which rate will govern over the statutory rate of interest up until actual satisfaction of the judgment.