Common use of Interest for Delay Clause in Contracts

Interest for Delay. If the Borrower is in arrears in the payment of any amount due to the Lender, under this Agreement, beyond the payment date fixed in this Agreement, interest for delay shall be added to the amount in arrears at the maximum rate of interest for delay acceptable at Discount Bank, as it shall be from time to time, for loans linked to the consumer price index (“Interest for Delay”).

Interest for Delay. If the Borrower is in arrears in the payment of any amount due to the Lender, under this Agreement, beyond the payment date fixed in this Agreement, interest for delay shall be added to the amount in arrears at the maximum rate of interest for delay acceptable at Discount Bank, as it shall be from time to timetime during the period of the delay as aforesaid, for loans linked to the consumer price index (“Interest for Delay”).