Interest on Amounts Payable. If any amounts payable hereunder by the Issuer to the Guarantor is not paid when due, the unpaid amount from time to time shall bear interest at a rate per annum equal to the then prevailing Bank Rate announced by the Bank of Canada. Such interest shall be payable and compounded monthly on the first day of each month.
Appears in 3 contracts
Sources: Indemnity Agreement, Participation Agreement, Indemnity Agreement