Rate on Overdue Payments. In the event the Board should fail to make any of the payments required in this Section 4.4, the payment in default shall continue as an obligation of the Board until the amount in default shall have been fully paid, and the Board agrees to pay the same with interest thereon at the rate borne by the related Certificates, to the extent permitted by law, from the date of default to the date of payment.
Appears in 3 contracts
Samples: Acquisition Agreement, Acquisition Agreement, Installment Purchase Contract
Rate on Overdue Payments. In the event If the Board should fail fails to make any of the payments Installment Payments required in this Section 4.4, the payment in default shall continue as an obligation of the Board until the amount in default shall have been fully paid, and the Board agrees to will pay the same with interest thereon at the rate borne by the related Certificates, Certificates to the extent permitted by law, from the date of default to the date of payment.
Appears in 1 contract
Samples: Installment Purchase Contract
