Common use of Delay Completion Clause in Contracts

Delay Completion. Fix a new date for Completion not being more than 28 days after the Completion Date) and in that case the Vendors shall pay to the Purchaser interest at the Interest Rate on the Consideration payable on the Completion Date from the date on which Completion was due until Completion takes place. If Completion does not take place other than by reason of a default by the Purchaser then such payment shall not be refundable to the Vendors;