Default and Interest. If any payment required to be made by a Party hereunder is not made when due, then all unpaid amounts shall bear interest at a rate equal to Base Rate plus 5% per annum, compounded monthly on the last day of each month until such payment and accrued interest is paid in full. The rate of interest payable on such late payments will change simultaneously with changes in the Base Rate from time to time.
Appears in 7 contracts
Sources: Royalty Agreement (Bunker Hill Mining Corp.), Royalty Agreement (Bunker Hill Mining Corp.), Royalty Agreement (Bunker Hill Mining Corp.)