Interest on Default. If the Issuer fails to pay any Payment specified herein within twenty (20) days after the due date thereof, the Issuer shall pay to GCC or any successor or assigns of GCC, interest on such delinquent payment at the highest rate allowed by Texas law.
Appears in 11 contracts
Sources: Public Property Finance Act Contract, Public Property Finance Act Contract, Public Property Finance Act Contract
Interest on Default. If the Issuer fails to pay any Payment specified herein within twenty ten (2010) days after the due date thereof, the Issuer shall pay to GCC or any successor or assigns of GCC, interest on such delinquent payment at the lesser of twelve percent (12%) per annum, or the highest rate allowed by Texas law.
Appears in 1 contract
Sources: Public Property Finance Act Contract
Interest on Default. If the Issuer fails to pay any Payment specified herein within twenty (20) days after the due date thereof, the Issuer shall pay to GCC or any successor or assigns of GCC, interest on such delinquent payment at the highest rate allowed by Texas law.
Appears in 1 contract
Sources: Public Property Finance Act Contract