Common use of On the Transfer Date Clause in Contracts

On the Transfer Date. (A) UK Holdings shall pay to GEIH the amount of the UK Holdings Interest accrued but unpaid up to and including the Transfer Date; and (B) GEIH shall pay to UK Holdings the amount of any interest accrued but unpaid in respect of the UK GEIH Debt up to and including the Transfer Date, and the parties shall satisfy their respective interest payment obligations under this clause 4.3 by setting off the respective payable interest amounts.