Penalties for Late Payment. Irrespective of the manner according to which any payments are made pursuant to this License Agreement, any amount overdue shall be payable in U.S. Dollars and shall bear interest calculated pro rata temporis, to the extent permitted by law, at a rate per annum equal to the Fed Funds rate plus a spread of 2% (two per cent) p.a., as such rate is available on the Bloomberg page "BTMM".
Appears in 2 contracts
Sources: License Agreement (Quilmes Industrial Quinsa Societe Anonyme), License Agreement (American Beverage Co Ambev)