Common use of Delinquent Accounts Clause in Contracts

Delinquent Accounts. All amounts due and owing to OMP hereunder, but not paid by Distributor within 5 days of the due date thereof, shall bear interest in U.S. dollars at the rate of the lesser of: (i) one per cent (1%) per annum above the then applicable prime interest rate announced by the Wall Street Journal for 90-day U.S. dollar loans to prime commercial customers in the United States; or (ii) the maximum lawful interest rate permitted under applicable law. Such interest shall accrue on the balance of unpaid amounts from time to time outstanding from the date on which portions of such amounts become due and owing until payment thereof in full.

Delinquent Accounts. All amounts due and owing to OMP Triax hereunder, but not paid by Distributor OMP within 5 10 days of the due date thereof, shall bear interest in U.S. dollars at the rate of the lesser of: ; (i) one per cent (1%) per annum above the then applicable prime interest rate announced by the Wall Street Journal for 90-day U.S. dollar loans to prime commercial customers in the United States; or (ii) the maximum lawful interest rate permitted under applicable California law. Such interest shall accrue on the balance of unpaid amounts from time to time outstanding from the date on which portions of such amounts become due and owing until payment thereof in full.