Common use of Default Interest Periods Clause in Contracts

Default Interest Periods. If any sum due and payable by an Obligor hereunder is not paid on the due date therefor in accordance with Clause 31 (Payments) or if any sum due and payable by an Obligor under any judgment of any court in connection herewith is not paid on the date of such judgment, the period beginning on such due date or, as the case may be, the date of such judgment and ending on the date upon which the obligation of such Obligor to pay such sum is discharged shall be divided into successive periods, each of which (other than the first) shall start on the last day of the preceding such period and the duration of each of which shall (except as otherwise provided in this Clause 28) be selected by the Facility Agent.

Default Interest Periods. If any sum due and payable by an Obligor hereunder is not paid on the due date therefor in accordance with Clause 31 29 (Payments) or if any sum due and payable by an Obligor under any judgment of any court in connection herewith is not paid on the date of such judgment, the period beginning on such due date or, as the case may be, the date of such judgment and ending on the date upon which the obligation of such Obligor to pay such sum is discharged shall be divided into successive periods, each of which (other than the first) shall start on the last day of the preceding such period and the duration of each of which shall (except as otherwise provided in this Clause 28) be selected by the Facility AgentBank.

Default Interest Periods. If any sum due and payable by an Obligor the Borrower hereunder is not paid on the due date therefor in accordance with Clause 31 24 (PaymentsPayment Mechanics) or if any sum due and payable by an Obligor the Borrower under any judgment of any court in connection herewith is not paid on the date of such judgment, the period beginning on such due date or, as the case may be, the date of such judgment and ending on the date upon which the obligation of such Obligor the Borrower to pay such sum is discharged shall be divided into successive periods, each of which (other than the first) shall start on the last day of the preceding such period and the duration of each of which shall (except as otherwise provided in this Clause 2820) be selected by the Facility Agent.

Default Interest Periods. If any sum due and payable by an Obligor the Borrower hereunder is not paid on the due date therefor in accordance with Clause 31 22 (Payments) or if any sum due and payable by an Obligor the Borrower under any judgment of any court in connection herewith is not paid on the date of such judgment, the period beginning on such due date or, as the case may be, the date of such judgment and ending on the date upon which the obligation of such Obligor the Borrower to pay such sum is discharged shall be divided into successive periods, each of which (other than the first) shall start on the last day of the preceding such period and the duration of each of which shall (except as otherwise provided in this Clause 2819) be selected by the Facility AgentLender.