Common use of Overdue Balances Clause in Contracts

Overdue Balances. Unless the amount is already accruing interest under clause 13.5, Guarantor must pay interest calculated on daily balances on any amount Guarantor owes under clauses 11.2 – 11.4 from the date Financier requests Guarantor for the amount until Guarantor pays it. The interest will be calculated in accordance with clause 13.5 as if references in that clause to Customer are to Guarantor.

Overdue Balances. Unless the amount is already accruing interest under clause 13.5, Guarantor must pay interest calculated on daily balances on any amount Guarantor owes under clauses 11.2 10.2 – 11.4 10.4 from the date Financier requests Guarantor for the amount until Guarantor pays it. The This interest will is to be calculated and is payable in accordance with clause 13.5 as if references in that clause to Customer are to Guarantor12.8.