Common use of Upon Maturity Clause in Contracts

Upon Maturity. For failure to pay any instalments or any payment due and that failure continues beyond the Maturity Date of the Financing Facility or upon judgment, whichever is earlier, the Late Payment Charges rate shall be the prevailing daily overnight Islamic Interbank Money Market (IIMM) rate on the outstanding balance due and payable or any other method approved by SAC BNM from time to time.

Upon Maturity. For failure to pay any instalments or any payment due and that which failure continues beyond the Maturity Date of the Financing Facility or upon judgment, whichever is earlier, at the Late Payment Charges late payment charge rate which shall be the prevailing daily overnight Islamic Interbank Money Market (IIMM) rate on the outstanding balance due and payable or any other method approved by SAC BNM from time to time.