Common use of Interest Accrues on Amounts Owing Clause in Contracts

Interest Accrues on Amounts Owing. Subject to Section 2.4, any amount owing to a Party (which for these purposes shall be deemed to include Viterra) by the other Party pursuant to any provision of this Agreement, whether accruing due before, at or after Closing, and remaining unpaid shall bear interest calculated daily and compounded monthly, from the day such amount was due to be paid until the day such amount was paid in full, at the Interest Rate plus an additional four hundred basis points, regardless of whether such Party (which for these purposes shall be deemed to include Viterra) has given the other Party prior notice of the accrual of interest hereunder.