Common use of Default Interest and Indemnity Clause in Contracts

Default Interest and Indemnity. 8.1 If any sum payable by the Borrower hereunder is not paid when due in accordance with this Agreement, the Borrower shall pay interest on such overdue amount (including overdue default interest) from the date that the amount is overdue to the date of actual payment (both inclusive) at the rate of four (4) per cent per annum. 8.2 The Borrower shall indemnify the Lender against any actions, charges, claims, costs, damages, demands, expenses, fees, liabilities, losses and proceedings which the Lender may sustain or incur as a consequence of any default by the Borrower in the performance of any of his obligations under this Agreement.

Default Interest and Indemnity. 8.1 If any sum payable by the Borrower hereunder is not paid when due in accordance with this Agreement, the Borrower shall pay interest on such overdue amount (including overdue default interest) from the date that the amount is overdue of this Agreement to the date of actual payment (both inclusive) at the rate of four (4) per cent per annum. 8.2 The Borrower shall indemnify the Lender against any actions, charges, claims, costs, damages, demands, expenses, fees, liabilities, losses and proceedings which the Lender may sustain or incur as a consequence of any default by the Borrower in the performance of any of his its obligations under this Agreement.