Common use of Payment of Default Interest Clause in Contracts

Payment of Default Interest. Any Interest which shall have accrued under clause 12.2 above in respect of an Unpaid Sum shall be due and payable and shall be paid by the Borrower at the end of each Interest Period by reference to which it is calculated or on such other dates as TIC may specify by written notice to the Borrower.

Appears in 1 contract

Sources: Equipment Facility Agreement (Tower Semiconductor LTD)

Payment of Default Interest. Any Interest interest which shall have accrued under clause 12.2 above Clause 10.1 (Default Interest) in respect of an Unpaid Sum unpaid sum shall be due and payable and shall be paid by the Borrower Borrowers owing such unpaid sum at the end of each Interest Period the period by reference to which it is calculated or on such other dates as TIC the Bank may specify by written notice to the BorrowerBorrowers.

Appears in 1 contract

Sources: Multi Currency Credit Facility Agreement (Hungarian Telephone & Cable Corp)

Payment of Default Interest. Any Interest interest which shall have accrued under clause 12.2 above Clause 10.1 (Default Interest) in respect of an Unpaid Sum unpaid sum shall be due and payable and shall be paid by the Borrower ▇▇▇▇▇▇ such unpaid sum at the end of each Interest Period the period by reference to which it is calculated or on such other dates as TIC the Bank may specify by written notice to the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Hungarian Telephone & Cable Corp)

Payment of Default Interest. Any Interest interest which shall have accrued under clause 12.2 above Clause 20.2 (Default Interest) in respect of an Unpaid Sum shall be due and payable and shall be paid by the Borrower at on demand of the end of each Interest Period by reference to which it is calculated or on such other dates as TIC may specify by written notice to the BorrowerBank.

Appears in 1 contract

Sources: Guarantee Facility Agreement (Maxtor Corp)