Common use of Guarantor Default Interest Clause in Contracts

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.

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 Acceleration), 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.