Common use of Remedy of Default Clause in Contracts

Remedy of Default. The Defaulting Party shall have the right to remedy the Default at any time prior to forfeiture, as hereinafter provided, by payment in full to Operator or, if the Non-Defaulting Parties have paid any amounts under Article 12.1, the Non-Defaulting Parties, in proportion to the amounts so paid to them, of all amounts in respect of which the Defaulting Party is in Default, which shall include any cost of financing or interest chargeable to the Non-Defaulting Parties pursuant to Article 12.1 (ii), together with interest thereon calculated on a day-to-day basis at a rate equal to five (5) percent per annum above Base Rate from time to time from and including the due date for payment of such amounts until the actual date of payment.

Remedy of Default. The Defaulting Party shall have the right to remedy the Default default at any time prior to forfeiture, as hereinafter provided, by payment in full to the Operator or, if the Non-Defaulting Parties have Party has paid any amounts under Article 12.118.1(v), to the Non-Defaulting PartiesParty, in proportion to the amounts so paid to them, by the Non-Defaulting Party of all amounts in respect of which the Defaulting Party is in Default, has failed to pay (including the amount of Cash Calls and Advances attributable to the Defaulting Party which shall include any cost of financing or interest chargeable to the Non-Defaulting Parties pursuant Party has become liable to pay in terms of Article 12.1 (ii), 18.1(v) together with interest thereon calculated on a day-to-day to day basis at a rate equal to five (5) percent per annum above Base Rate from time to time the Agreed Interest Rate, from and including the due date for payment of such amounts until but not including the actual date of payment.

Remedy of Default. The Defaulting Party shall have the right to remedy the Default at any time prior to forfeiture, as hereinafter provided, by payment in full to Operator or, if the Non-Defaulting Parties have paid any amounts under Article 12.115.1, the Non-Defaulting Parties, in proportion to the amounts so paid to them, of all amounts in respect of which the Defaulting Party is in Default, which shall include any cost of financing or interest chargeable to the Non-Defaulting Parties pursuant to Article 12.1 15.1 (ii), together with interest thereon calculated on a day-to-day basis at a rate equal to five three (53) percent per annum above Base Rate from time to time from and including the due date for payment of such amounts until the actual date of payment.