Common use of Applying interest Clause in Contracts

Applying interest. 6.5.1 In the event that the Welsh Ministers need to recover any sum paid, the Beneficiary shall repay the amount in question plus, where applicable, interest. 6.5.2 The Welsh Ministers shall calculate interest for the period elapsing between the payment deadline for the Beneficiary indicated in the recovery order, which shall not be set at more than 60 days, and either the date of repayment or deduction. 6.5.3 The Welsh Ministers shall calculate the rate of interest applicable in accordance with the LIBOR rate on that day plus 1%.

Applying interest. 6.5.1 In the event that the Welsh Ministers need to recover any sum paid, the Beneficiary shall repay the amount in question plus, where applicable, interest. 6.5.2 The Welsh Ministers shall calculate interest for the period elapsing between the payment deadline for the Beneficiary indicated in the recovery order, which shall not be set at more than 60 days, and either the date of repayment ofrepayment or deduction. 6.5.3 The Welsh Ministers shall calculate the rate of interest applicable in accordance with the LIBOR rate on that day plus 1%.