Common use of Compounding Clause in Contracts

Compounding. Interest payable under clause 1.13 (“Obligation to pay interest”) which is not paid when due for payment may be added to the overdue amount by the Seller at intervals which the Seller determines from time to time or, if no determination is made, every 30 days. Interest is payable on the increased overdue amount at the rate set out in clause 1.14 (“Rate of interest”) and in the manner set out in clause 1.13.

Compounding. Interest payable under clause 1.13 14.1 (“Obligation to pay interestpay”) which is not paid when due for payment may be added to the overdue amount by the Seller Fortrend Securities at intervals which the Seller Fortrend Securities determines from time to time or, if no determination is made, every 30 days. Interest is payable on the increased overdue amount at the rate set out in clause 1.14 (“Default Rate of interest”) and in the manner set out in clause 1.1314.1 (“Obligation to pay”).