Common use of Failure to Pay Interest Clause in Contracts

Failure to Pay Interest. If the Borrower defaults in the due and punctual payment of any Loan Indebtedness (other than any Outstandings) as and when the same becomes due and payable hereunder, and such default continues for a period

Failure to Pay Interest. If the Borrower defaults in the due and punctual payment of any Loan Indebtedness (other than any Outstandingsprincipal) as and when the same becomes due and payable hereunder, and such default continues for a periodperiod of 1 Business Day after notice is given to the Borrower by the Lender specifying such default and requiring it to be remedied.

Failure to Pay Interest. If the Borrower defaults in the due and punctual payment of any Loan Indebtedness (other than any Outstandingsprincipal) as and when the same becomes due and payable hereunder, and such default continues for a periodperiod of 1 Banking Day after notice is given to the Borrower by the Lender specifying such default and requiring it to be remedied.