Common use of Interest following judgment Clause in Contracts

Interest following judgment. If a liability becomes merged in a judgment, the Borrower must pay interest on the amount of that liability as an independent obligation. This interest: (a) accrues daily from (and including) the date the liability becomes due for payment both before and after the judgment up to (but excluding) the date the liability is paid; and (b) is calculated at the judgment rate or the Default Rate (whichever is higher). The Borrower must pay interest under this clause to the Financier on demand from the Financier.