Common use of Rate of Interest After a Default Clause in Contracts

Rate of Interest After a Default. If the Notes bear interest at a floating or other variable rate and they become immediately payable under the Conditions, the rate of interest payable in respect of them shall continue to be calculated by the Calculation Agent in accordance with the Conditions (with consequential amendments as necessary) except that the rates of interest need not be published unless the Trustee otherwise requires. The first period in respect of which interest shall be so calculable shall commence on the expiry of the Interest Period during which the Notes become so repayable.

Rate of Interest After a Default. If the Notes Bonds bear interest at a floating or other variable rate and they become immediately payable under the Conditions, the rate of interest payable in respect of them shall continue to be calculated by the Calculation Agent in accordance with the Conditions (with consequential amendments as necessary) except that the rates of interest need not be published unless the Bond Trustee otherwise requires. The first period in respect of which interest shall be so calculable shall commence on the expiry of the Interest Period during which the Notes Bonds become so repayable.

Rate of Interest After a Default. If the Notes bear interest at a floating or other variable rate and they become immediately payable due and repayable under the Conditions, the rate and/or amount of interest payable in respect of them shall continue to be calculated by the Calculation Agent in accordance with the Conditions (with consequential amendments as necessary) except that the rates of interest need not be published unless the Trustee otherwise requires. The first period in respect of which interest shall be so calculable shall commence on the expiry of the Interest Period during which the Notes become so repayable.

Rate of Interest After a Default. If the Notes bear interest at a floating or other variable rate and they become immediately payable under the Conditions, the rate Rate of interest Interest payable in respect of them shall continue to be calculated by the Calculation Agent in accordance with the Conditions and the relevant Loan Agreement (with consequential amendments as necessary) except that the rates Rates of interest Interest need not be published unless the Trustee otherwise requires. The first period in respect of which interest shall be so calculable shall commence on the expiry of the Interest Period during which the Notes become so repayable.