Common use of Interest After Maturity Clause in Contracts

Interest After Maturity. Each Fund and, in the case of a Fund comprised of Portfolios, each Fund on behalf of its Portfolios shall pay to the Banks interest on any amount of principal of any Loan borrowed on behalf of each such Fund or Portfolio which is not paid when due, whether at stated maturity, by acceleration or otherwise, accruing from and including the date such amount shall have become due to, but not including, the date of payment thereof in full at the rate per annum which is equal to the greater of (i) 2% in excess of the rate applicable to the unpaid principal amount immediately before it became due, or (ii) 2% in excess of the Reference Rate in effect from time to time. After maturity, accrued interest shall be payable on demand.

Interest After Maturity. Each Fund and, in the case of a Fund comprised of Portfolios, each Fund on behalf of its Portfolios shall pay to the Banks interest on any amount of principal of any Loan borrowed on behalf of each such Fund or Portfolio which is not paid when due, whether at stated maturity, by acceleration or otherwise, accruing from and including the date such amount shall have become due to, but not including, the date of payment thereof in full at the rate per annum which is equal to the greater of (i) 2% in excess of the rate applicable to the unpaid principal amount immediately before it became due, or due and (ii) 2% in excess of the Reference Rate in effect from time to time. After maturity, accrued interest shall be payable on demand.