Guarantor Default Interest Clause Samples

Guarantor Default Interest. (a) If CGIF fails to make a payment in accordance with Clause 3.3 (Payment of a Demand), CGIF will pay interest on the overdue Guaranteed Amount for the period from (and including) the Original Due Date of such Guaranteed Amount to (but excluding) the date of actual payment at the Guarantor Default Rate. (b) If CGIF fails to make a payment in accordance with Clause 5.4 (CGIF Acceleration) in respect of the scenario set out in Clause 5.4(a), CGIF will pay interest on the overdue Guaranteed Amount for the period from (and including) the Acceleration Due Date of such Guaranteed Amount to (but excluding) the date of actual payment at the Guarantor Default Rate.
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Guarantor Default Interest. (a) If CGIF fails to make a payment in accordance with Clause 3.3 (Payment of a Demand), CGIF will pay interest on the overdue Principal Amount portion which forms part of the Guaranteed Amount for the period from (and including) the Original Due Date for such portion of the Guaranteed Amount to (but excluding) the date of actual payment at the Guarantor Default Rate. (b) If CGIF fails to make a payment in accordance with Clause 5.4 (CGIF Acceleration) in respect of the scenario set out in Clause 5.4(a), CGIF will pay interest on the overdue Principal Amount portion which forms part of the Guaranteed Amount for the period from (and including) the Acceleration Due Date for such portion of the Guaranteed Amount to (but excluding) the date of actual payment at the Guarantor Default Rate.
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Guarantor Default Interest. (a) If CGIF fails to make a payment in accordance with Clause 3.3 (Payment of a Demand) or Clause 5.5 (Payment by the Guarantor), CGIF will pay interest on the overdue Guaranteed Amount for the period from (and including) the Original Due Date for the Guaranteed Amount to (but excluding) the date of actual payment at: (i) the Guarantor Default Rate, in respect of the amount corresponding to the Principal Amount portion of the Guaranteed Amount; and (ii) 2% per annum, in respect of the amount corresponding to the Scheduled Interest portion of the Guaranteed Amount. (b) If CGIF fails to make a payment in accordance with Clause 5.4 (CGIF Acceleration) in respect of the scenario set out in Clause 5.4(a) (CGIF Acceleration), CGIF will pay interest on the overdue Guaranteed Amount for the period from (and including) the due date for payment of the Guaranteed Amount by CGIF pursuant to Clause 5.4(a) (CGIF Acceleration) to (but excluding) the date of actual payment at: (i) the Guarantor Default Rate, in respect of the amount corresponding to the Principal Amount portion of the Guaranteed Amount; and (ii) 2% per annum, in respect of the amount corresponding to the Scheduled Interest portion of the Guaranteed Amount.
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Related to Guarantor Default Interest

  • Default Interest (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor on demand by the Agent. (b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan: (i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and (ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due. (c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.