Common Contracts
1 similar Master Agreement contracts
MASTER AGREEMENTMaster Agreement • March 15th, 2004
judgment) at the Default Rate on the amount outstanding, calculated for the period from (and including) the due date to (but excluding) the day on which such payment is received. “Default Rate” means the higher of (a) the Interbank Rate and (b) the cost to the other party, as certified by it, of funding the relevant amount, in each case plus any interest surcharge which may be agreed in the Special Provisions. “Interbank Rate” means the interbank offered interest rate charged by prime banks to each other for overnight deposits at the place of payment and in the currency of the amount outstanding for each day on which interest is to be charged (being, if an amount in euros is outstanding, the Euro Overnight Index Average (“EONIA”) Rate calculated by the European Central Bank).
