Common use of Default and Consequences of Default Clause in Contracts

Default and Consequences of Default. 14.1 An event of default (“Default Event”) occurs if: (a) any money payable under this Contract is not paid before or on the due date for payment; (b) the Customer fails to observe and perform any of the Customer’s covenants, other than the failure to pay money, and such failure continues for more than three (3) days after BTI had given the Customer notice requiring the Customer to remedy the breach; (c) the Customer, being an individual, commits an act of bankruptcy, is declared mentally ill or is convicted of a criminal offence or dies; (d) a receiver, or an agent in possession for a mortgagee, is appointed in respect of any property of the Customer; (e) a mortgagee takes possession of any property of the Customer; (f) any execution or similar process is made against the property of the Customer; (g) an application is made, a resolution is passed or a meeting is convened for the purpose of considering a resolution for the Customer to be wound up, unless the winding up is for the purpose of reconstruction or amalgamation; (h) a compromise or arrangement is made between the Customer and its creditors; (i) a resolution is passed, or a meeting is convened for the purpose of considering a resolution for the Customer to be placed under official management; (j) the Customer admits in writing its inability to pay its debts; 14.2 On the occurrence of an Default Event: (a) BTI may: (i) take possession of the Goods with, or without notice to the Customer, in accordance with clause 10.3(e); (ii) charge interest on overdue invoices, which shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and one half percent (2.5%) per calendar month (and at BTI’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment; (b) if the Customer owes BTI any money, the Customer shall indemnify BTI from and against all costs and disbursements incurred by BTI in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, BTI’s contract default fee, and bank dishonour fees); (c) further to any other rights or remedies BTI may have under this Contract, if the Customer has made payment to BTI and the transaction is subsequently reversed, the Customer shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by BTI under this clause 14 where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Customer’s obligations under this Contract; (d) without prejudice to BTI’s other remedies at law, BTI shall be entitled to cancel, suspend or terminate the supply of Goods and/or Services or any part of any order of the Customer which remains unperformed in addition to and without prejudice to any other remedies BTI may have and all amounts owing to BTI shall, whether or not due for payment, become immediately payable. BTI will not be liable to the Customer for any loss or damage the Customer suffers because BTI has exercised its rights under this clause.

Default and Consequences of Default. 14.1 18.1 An event of default (“Default Event”) occurs if: (a) any money payable under this Contract is not paid before or on the due date for payment; (b) the Customer Client has exceeded any applicable credit limit provided by ITJEDI; (c) the Client fails to observe and perform any of the CustomerClient’s covenants, other than the failure to pay money, and such failure continues for more than three five (35) days after BTI ITJEDI had given the Customer Client notice requiring the Customer Client to remedy the breach; (cd) the CustomerClient, being an individual, commits an act of bankruptcy, is declared mentally ill or is convicted of a criminal offence or dies; (de) a receiver, or an agent in possession for a mortgagee, is appointed in respect of any property of the CustomerClient; (ef) a mortgagee takes possession of any property of the CustomerClient; (fg) any execution or similar process is made against the property of the CustomerClient; (gh) an application is made, a resolution is passed or a meeting is convened for the purpose of considering a resolution for the Customer Client to be wound up, unless the winding up is for the purpose of reconstruction or amalgamation; (hi) a compromise or arrangement is made between the Customer Client and its creditors; (ij) a resolution is passed, or a meeting is convened for the purpose of considering a resolution for the Customer Client to be placed under official management; (jk) the Customer Client admits in writing its inability to pay its debts; 14.2 18.2 On the occurrence of an Default Event: (a) BTI ITJEDI may: (i) take possession of the Goods with, or without notice to the CustomerClient, in accordance with clause 10.3(e11.3(c); (ii) charge interest on overdue invoices, which shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and one half percent (2.5%) per calendar month (and at BTIITJEDI’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment; (b) if the Customer Client owes BTI ITJEDI any money, the Customer Client shall indemnify BTI ITJEDI from and against all costs and disbursements incurred by BTI ITJEDI in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, BTIITJEDI’s contract default feecollection agency costs, and bank dishonour fees); (c) further to any other rights or remedies BTI ITJEDI may have under this Contract, if the Customer Client has made payment to BTI ITJEDI and the transaction is subsequently reversed, the Customer Client shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by BTI ITJEDI under this clause 14 18.2(c) where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the CustomerClient’s obligations under this Contract; (d) without prejudice to BTI’s other remedies at law, BTI shall be entitled to cancel, suspend or terminate the supply of Goods and/or Services or any part of any order of the Customer which remains unperformed in addition to and without prejudice to any other remedies BTI may have and all amounts owing to BTI shall, whether or not due for payment, become immediately payable. BTI will not be liable to the Customer for any loss or damage the Customer suffers because BTI has exercised its rights under this clause.

Default and Consequences of Default. 14.1 22.1 An event of default (“Default Event”) occurs if: (a) any money payable under this Contract Agreement is not paid before or on the due date for payment; (b) the Customer has exceeded any applicable credit limit provided by Smartcall; (c) the Customer fails to observe and perform any of the Customer’s covenants, other than the failure to pay money, and such failure continues for more than three (3) days 5 Business Days after BTI Smartcall had given the Customer notice requiring the Customer to remedy the breach; (cd) the Customer, being an individual, commits an act of bankruptcy, is declared mentally ill or is convicted of a criminal offence or dies; (de) a receiver, or an agent in possession for a mortgagee, is appointed in respect of any property of the Customer; (ef) a mortgagee takes possession of any property of the Customer; (fg) any execution or similar process is made against the property of the Customer; (gh) an application is made, a resolution is passed or a meeting is convened for the purpose of considering a resolution for the Customer to be wound up, unless the winding up is for the purpose of reconstruction or amalgamation; (hi) a compromise or arrangement is made between the Customer and its creditors; (ij) a resolution is passed, or a meeting is convened for the purpose of considering a resolution for the Customer to be placed under official management; (jk) the Customer admits in writing its inability to pay its debts; 14.2 22.2 On the occurrence of an Default Event: (a) BTI Smartcall may: (i) take possession of the Goods with, or without notice to the Customer, in accordance with clause 10.3(e15.3(c); (ii) charge interest on overdue invoices, which shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and one half percent (2.5%) per calendar month (and at BTISmartcall’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment; (b) if the Customer owes BTI Smartcall any money, the Customer shall indemnify BTI Smartcall from and against all costs and disbursements incurred by BTI Smartcall in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, BTISmartcall’s contract default feecollection agency costs, and bank dishonour fees); (c) further to any other rights or remedies BTI Smartcall may have under this ContractAgreement, if the Customer has made payment to BTI Smartcall and the transaction is subsequently reversed, the Customer shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by BTI Smartcall under this clause 14 22.2(c) where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Customer’s obligations under this Contract; (d) without prejudice to BTI’s other remedies at law, BTI shall be entitled to cancel, suspend or terminate the supply of Goods and/or Services or any part of any order of the Customer which remains unperformed in addition to and without prejudice to any other remedies BTI may have and all amounts owing to BTI shall, whether or not due for payment, become immediately payable. BTI will not be liable to the Customer for any loss or damage the Customer suffers because BTI has exercised its rights under this clauseAgreement.

Default and Consequences of Default. 14.1 An event of default (“Default Event”) occurs if: (a) any money payable under this Contract is not paid before or on the due date for payment; (b) the Customer fails to observe and perform any of the Customer’s covenants, other than the failure to pay money, and such failure continues for more than three (3) days after BTI had given the Customer notice requiring the Customer to remedy the breach; (c) the Customer, being an individual, commits an act of bankruptcy, is declared mentally ill or is convicted of a criminal offence or dies; (d) a receiver, or an agent in possession for a mortgagee, is appointed in respect of any property of the Customer; (e) a mortgagee takes possession of any property of the Customer; (f) any execution or similar process is made against the property of the Customer; (g) an application is made, a resolution is passed or a meeting is convened for the purpose of considering a resolution for the Customer to be wound up, unless the winding up is for the purpose of reconstruction or amalgamation; (h) a compromise or arrangement is made between the Customer and its creditors; (i) a resolution is passed, or a meeting is convened for the purpose of considering a resolution for the Customer to be placed under official management; (j) the Customer admits in writing its inability to pay its debts; 14.2 On the occurrence of an Default Event: (a) BTI may: (i) take possession of the Goods with, or without notice to the Customer, in accordance with clause 10.3(e); (ii) charge interest 30.1 Interest on overdue invoices, which invoices shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and one a half percent (2.5%) per calendar month (and at BTIthe Provider’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment;. (b) if 30.2 If the Customer owes BTI the Provider any money, the Customer shall indemnify BTI the Provider from and against all costs and disbursements disbursements: (a) incurred; and/or (b) which would be incurred and/or (c) for which by BTI the Customer would be liable; in recovering the debt (including but not limited regard to internal administration fees, legal costs on a solicitor and own client basis, BTIinternal administration fees, the Provider’s contract fees owing for breach of these terms and conditions’, including, but not limited to, contract default feefees and/or recovery costs (if applicable), and as well as bank dishonour fees);. (c) further 30.3 Further to any other rights or remedies BTI the Provider may have under this Contract, if the a Customer has made payment to BTI the Provider, and the transaction is subsequently reversed, the Customer shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by BTI the Provider under this clause 14 30 where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Customer’s obligations under this Contract;. (d) without 30.4 Without prejudice to BTIthe Provider’s other remedies at law, BTI law the Provider shall be entitled to cancel, suspend or terminate the supply of Goods and/or Services cancel all or any part of any order of the Customer which remains unperformed in addition to and without prejudice to any other remedies BTI may have unfulfilled and all amounts owing to BTI the Provider shall, whether or not due for payment, become immediately payable. BTI will not be liable payable if: (a) any money payable to the Customer for any loss Provider becomes overdue, or damage in the Provider’s opinion the Customer suffers because BTI will be unable to make a payment when it falls due; (b) the Customer has exercised exceeded any applicable credit limit provided by the Provider; (c) the Customer becomes insolvent, convenes a meeting with its rights under this clausecreditors or proposes or enters into an arrangement with creditors, or makes an assignment for the benefit of its creditors; or (d) a receiver, manager, liquidator (provisional or otherwise) or similar person is appointed in respect of the Customer or any asset of the Customer.

Default and Consequences of Default. 14.1 24.1 An event of default (“Default Event”) occurs if: (a) any money payable under this Contract is not paid before or on the due date for payment; (b) the Customer Client fails to observe and perform any of the CustomerClient’s covenants, other than the failure to pay money, and such failure continues for more than three (3) days after BTI the Supplier had given the Customer Client notice requiring the Customer Client to remedy the breach; (c) the CustomerClient, being an individual, commits an act of bankruptcy, is declared mentally ill or is convicted of a criminal offence or dies; (d) a receiver, or an agent in possession for a mortgagee, is appointed in respect of any property of the CustomerClient; (e) a mortgagee takes possession of any property of the CustomerClient; (f) any execution or similar process is made against the property of the CustomerClient; (g) an application is made, a resolution is passed or a meeting is convened for the purpose of considering a resolution for the Customer Client to be wound up, unless the winding up is for the purpose of reconstruction or amalgamation; (h) a compromise or arrangement is made between the Customer Client and its creditors; (i) a resolution is passed, or a meeting is convened for the purpose of considering a resolution for the Customer Client to be placed under official management; (j) the Customer Client admits in writing its inability to pay its debts; 14.2 24.2 On the occurrence of an a Default Event: (a) BTI the Supplier may: (i) take possession of the Goods Equipment with, or without notice to the CustomerClient, in accordance with clause 10.3(e16.2(c)(vi); (ii) charge interest on overdue invoices, which shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and one half percent (2.5%) per calendar month (and at BTIthe Supplier’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment; (b) if the Customer Client owes BTI the Supplier any money, the Customer Client shall indemnify BTI the Supplier from and against all costs and disbursements incurred by BTI the Supplier in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, BTIthe Supplier’s contract default fee, collection agency costs and/or and bank dishonour fees); (c) further to any other rights or remedies BTI the Supplier may have under this Contractagreement, if the Customer Client has made payment to BTI the Supplier and the transaction is subsequently reversed, the Customer Client shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by BTI the Supplier under this clause 14 24 where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the CustomerClient’s obligations under this Contract; (d) without prejudice to BTIthe Supplier’s other remedies at law, BTI the Supplier shall be entitled to cancel, suspend or terminate the supply of Goods and/or Equipment/Goods/Services or any part of any order of the Customer Client which remains unperformed in addition to and without prejudice to any other remedies BTI the Supplier may have and all amounts owing to BTI the Supplier shall, whether or not due for payment, become immediately payable. BTI The Supplier will not be liable to the Customer Client for any loss or damage the Customer Client suffers because BTI the Supplier has exercised its rights under this clause.

Default and Consequences of Default. 14.1 24.1 An event of default (“Default Event”) occurs if: (a) any money payable under this Contract is not paid before or on the due date for payment; (b) the Customer Client fails to observe and perform any of the CustomerClient’s covenants, other than the failure to pay money, and such failure continues for more than three (3) days after BTI the Supplier had given the Customer Client notice requiring the Customer Client to remedy the breach; (c) the CustomerClient, being an individual, commits an act of bankruptcy, is declared mentally ill or is convicted of a criminal offence or dies; (d) a receiver, or an agent in possession for a mortgagee, is appointed in respect of any property of the CustomerClient; (e) a mortgagee takes possession of any property of the CustomerClient; (f) any execution or similar process is made against the property of the CustomerClient; (g) an application is made, a resolution is passed or a meeting is convened for the purpose of considering a resolution for the Customer Client to be wound up, unless the winding up is for the purpose of reconstruction or amalgamation; (h) a compromise or arrangement is made between the Customer Client and its creditors; (i) a resolution is passed, or a meeting is convened for the purpose of considering a resolution for the Customer Client to be placed under official management; (j) the Customer Client admits in writing its inability to pay its debts; 14.2 24.2 On the occurrence of an Default Event: (a) BTI the Supplier may: (i) take possession of the Goods Equipment with, or without notice to the CustomerClient, in accordance with clause 10.3(e16.2(c)(vi); (ii) charge interest on overdue invoices, which shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and one half percent (2.5%) per calendar month (and at BTIthe Supplier’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment; (b) if the Customer Client owes BTI the Supplier any money, the Customer Client shall indemnify BTI the Supplier from and against all costs and disbursements incurred by BTI the Supplier in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, BTIthe Supplier’s contract default fee, collection agency costs and/or and bank dishonour fees); (c) further to any other rights or remedies BTI the Supplier may have under this Contractagreement, if the Customer Client has made payment to BTI the Supplier and the transaction is subsequently reversed, the Customer Client shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by BTI the Supplier under this clause 14 24 where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the CustomerClient’s obligations under this Contract; (d) without prejudice to BTIthe Supplier’s other remedies at law, BTI the Supplier shall be entitled to cancel, suspend or terminate the supply of Goods and/or Equipment/Goods/Services or any part of any order of the Customer Client which remains unperformed in addition to and without prejudice to any other remedies BTI the Supplier may have and all amounts owing to BTI the Supplier shall, whether or not due for payment, become immediately payable. BTI The Supplier will not be liable to the Customer Client for any loss or damage the Customer Client suffers because BTI the Supplier has exercised its rights under this clause.

Default and Consequences of Default. 14.1 21.1 An event of default (“Default Event”) occurs if: (a) any money payable under this Contract is not paid before or on the due date for payment; (b) the Customer Client fails to observe and perform any of the CustomerClient’s covenants, other than the failure to pay money, and such failure continues for more than three (3) days after BTI Safe Hire Limited had given the Customer Client notice requiring the Customer Client to remedy the breach; (c) the CustomerClient, being an individual, commits an act of bankruptcy, is declared mentally ill or is convicted of a criminal offence or dies; (d) a receiver, or an agent in possession for a mortgagee, is appointed in respect of any property of the CustomerClient; (e) a mortgagee takes possession of any property of the CustomerClient; (f) any execution or similar process is made against the property of the CustomerClient; (g) an application is made, a resolution is passed or a meeting is convened for the purpose of considering a resolution for the Customer Client to be wound up, unless the winding up is for the purpose of reconstruction or amalgamation; (h) a compromise or arrangement is made between the Customer Client and its creditors; (i) a resolution is passed, or a meeting is convened for the purpose of considering a resolution for the Customer Client to be placed under official management; (j) the Customer Client admits in writing its inability to pay its debts; 14.2 21.2 On the occurrence of an Default Event: (a) BTI Safe Hire Limited may: (i) take possession of the Goods Equipment with, or without notice to the CustomerClient, in accordance with clause 10.3(e12.2(c)(vi); (ii) charge interest on overdue invoices, which shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and one half percent (2.5%) per calendar month (and at BTISafe Hire Limited’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment; (b) if the Customer Client owes BTI Safe Hire Limited any money, the Customer Client shall indemnify BTI Safe Hire Limited from and against all costs and disbursements incurred by BTI Safe Hire Limited in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, BTISafe Hire Limited’s contract default fee, collection agency costs and/or and bank dishonour fees); (c) further to any other rights or remedies BTI Safe Hire Limited may have under this Contractagreement, if the Customer Client has made payment to BTI Safe Hire Limited and the transaction is subsequently reversed, the Customer Client shall be liable for the amount of the reversed transaction, in addition to any further costs incurred by BTI Safe Hire Limited under this clause 14 21 where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the CustomerClient’s obligations under this Contract; (d) without prejudice to BTISafe Hire Limited’s other remedies at law, BTI Safe Hire Limited shall be entitled to cancel, suspend or terminate the supply of Goods and/or Equipment/Goods/Services or any part of any order of the Customer Client which remains unperformed in addition to and without prejudice to any other remedies BTI Safe Hire Limited may have and all amounts owing to BTI Safe Hire Limited shall, whether or not due for payment, become immediately payable. BTI Safe Hire Limited will not be liable to the Customer Client for any loss or damage the Customer Client suffers because BTI Safe Hire Limited has exercised its rights under this clause.

Default and Consequences of Default. 14.1 An event 4.1 In case that there is an occurrence of each or any of the following events, it shall be deemed that the Customer is in default (“Default Event”) occurs ifor breach of this Agreement: (a) the Customer breaches any money payable under provisions of this Contract is not paid before or on Agreement and/or breaches any credit facility agreement entered with the due date for paymentBank; (b) the Customer fails provided any information or details, which are false statement, to observe and perform any of the Customer’s covenants, other than the failure to pay moneyBank, and such failure continues information and details are significant and have an adverse effect in terms of the approval of the Bank for more than three (3) days after BTI had given granting the Customer notice requiring Facility to the Customer to remedy the breachCustomer; (c) the Customer, being an individual, commits an act of bankruptcy, Customer ceases or dissolves its business or becomes insolvent or has been administrated or its business is declared mentally ill in rehabilitation proceedings or is convicted of a criminal offence in death or dieshas been ordered by the court to be incompetent or quasi-incompetent person; (d) a receiverthe Customer has been in execution proceedings or its assets has been seized, attached or an agent distressed according to the court judgment or any other laws or has been sued to the court which, in possession for a mortgagee, is appointed in respect of any property the opinion of the CustomerBank, shall affect the capability of the Customer in performing its duties and obligations of this Agreement or any credit facility agreement entered with the Bank; (e) a mortgagee takes possession of any property the value and creditability of the Customercollateral, which the Customer provided to the Bank under this Agreement, or any credit facility agreement, which the Customer entered with the Bank, has been depreciated or such collateral has been, seized, attached or distressed by any third person, or the Bank is unable to enforce such collateral; (f) there is any execution or similar process is made against significant event which, in the property opinion of the Customer; (g) an application Bank, is made, reasonably likely to have a resolution is passed material adverse effect to the business of the Customer or a meeting is convened for the purpose ability of considering a resolution for the Customer to be wound up, unless repay the winding up is for debt under this Agreement. In case of any event of default or breach of the purpose of reconstruction or amalgamation; (h) a compromise or arrangement is made between Agreement as mentioned above and the Customer and its creditors; fails to remedy such event if capable within 30 (ithirty) a resolution is passeddays after becoming known of such occurrences, or a meeting is convened for the purpose of considering a resolution for the Customer agrees that it shall be deemed to be placed under official management; (j) default or breach of this Agreement and therefore consents the Customer admits in writing Bank, at its inability sole discretion, to pay its debts; 14.2 On proceed or act any of the occurrence of an Default Eventfollowings: (a) BTI may: (i) take possession reserve or separate any type of loans or credits, which the Goods withCustomer entered with the Bank, in whole or without notice in part, in order for the Bank to bring any outstanding amount from other type of loans or credits including interests, compensations and liabilities, which are accessory to the Customerobligations, to record as the total outstanding amount in accordance with clause 10.3(e); (ii) charge interest on overdue invoices, which such reserved loans or credits so that it will become the outstanding amount owed by the Customer to the Bank under this Agreement. Any document or evidence prepared by the Bank in whatever forms shall accrue daily from the date when payment becomes due, until the date be deemed an integral part of payment, at a rate of two and one half percent (2.5%) per calendar month (and at BTI’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment;this Agreement; and/or (b) if suspend or cancel the Customer owes BTI any money, the Customer shall indemnify BTI from and against all costs and disbursements incurred by BTI in recovering the debt (including but not limited to internal administration fees, legal costs on a solicitor and own client basis, BTI’s contract default fee, and bank dishonour fees);unutilized Facility Amount; and/or (c) further terminate this Agreement or any credit agreement, which the Customer entered with the Bank, and demand the Customer to any other rights or remedies BTI may have pay within 7 (seven) days the outstanding amount in full under this Contract, if Agreement or the credit facility agreement which the Customer has made payment to BTI and entered with the transaction is subsequently reversed, Bank including may enforce either wholly or partially on the rights of the collateral provided by the Customer to the Bank under this Agreement or any credit facility agreement entered with the Bank. Provided, however, that the termination of this Agreement as mentioned above shall be liable for not affect the amount cancellation or wiping out any right of claim or demand of the reversed transaction, in addition to any further costs incurred by BTI under this clause 14 where it can be proven that such reversal is found to be illegal, fraudulent or in contravention to the Customer’s Bank and also liabilities and obligations under this Contract; (d) without prejudice to BTI’s other remedies at law, BTI shall be entitled to cancel, suspend or terminate the supply of Goods and/or Services or any part of any order of the Customer which remains unperformed in addition to and without prejudice to any other remedies BTI may have and all amounts owing to BTI shall, whether or not due for payment, become immediately payable. BTI will not be liable to the Customer for any loss damage, fine, expense and any monies specified in this Agreement or damage the credit facility agreement, which the Customer suffers because BTI has exercised its rights entered with the Bank or the Customer is required to pay by laws. 4.2 In case that the Customer fails to pay any amount payable by it under this clauseAgreement, the Customer consents that the Bank has the right to calculate and collect from the Customer the interests on the overdue amount at the Default Interest Rate commencing from the date of default until the Bank shall have been paid under this Agreement in full or until the Customer shall have resolved or remedied the event of such default or breach to the satisfactory of the Bank.