Common use of Further Interest Clause in Contracts

Further Interest. If a liability under this Deed becomes merged in a judgment or order, or exists after the bankruptcy or winding up of the Guarantor, then the Guarantor, as an independent obligation, shall pay interest on the amount of that liability from the date the liability becomes payable both before and after the judgment, order, bankruptcy or winding up until it is paid at the higher of the rate payable under the judgment, order, bankruptcy or winding up and the Default Rate.

Further Interest. If a liability under this Deed guarantee becomes merged in a judgment or order, or exists after the bankruptcy or winding up of the Guarantorguarantor, then the Guarantorguarantor, as an independent obligation, shall pay interest on the amount of that liability from the date the liability becomes payable both before and after the judgment, order, bankruptcy or winding up until it is paid at the higher of the rate payable under the judgment, order, bankruptcy or winding up and the Default Ratedefault rate.