Default and Interest. In the event that any payment required to be made to the Grantor or the Grantee hereunder is not made when due, then all unpaid amounts shall bear interest at the rate equal to 5.0%, compounded quarterly on the last day of each quarter until such credit/payment and accrued interest is paid in full.
Appears in 3 contracts
Sources: Purchase and Sale Agreement, Royalty Agreement, Royalty Agreement