Common use of Interest on Contractor Indebtedness Clause in Contracts

Interest on Contractor Indebtedness. Notwithstanding any other clause of this Contract, unless otherwise required by Applicable Law, all amounts that become payable by Contractor to Owner under this Contract shall bear simple interest from the date due until paid unless paid within 30 days of becoming due. Unless otherwise required by Applicable Law, the interest rate shall be the interest rate established by the Secretary of the Treasury as provided in Section 12 of the Contract Disputes Act of 1978 (Pub. L. 95-563, 92 Stat. 2383), which is applicable to the period in which the amount becomes due, as provided in this clause, and then at the rate applicable for each 6-month period as fixed by the Secretary until the amount is paid. In no event shall the interest charged or payable hereunder exceed that allowable under Applicable Law. Amounts shall be due at the earliest of the following dates:

Interest on Contractor Indebtedness. ‌ Notwithstanding any other clause of this the Contract, unless otherwise required by Applicable Law, all amounts that become payable by Contractor to Owner Authority under this the Contract shall bear simple interest from the date due until paid unless paid within 30 days of becoming due. Unless otherwise required by Applicable Law, the interest rate shall be the interest rate established by the Secretary of the Treasury as provided in Section 12 of the Contract Disputes Act of 1978 (Pub. L. 95-563, 92 Stat. 2383), which is applicable to the period in which the amount becomes due, as provided in this clause, and then at the rate applicable for each 6-month period as fixed by the Secretary until the amount is paid. In no event shall the interest charged or payable hereunder exceed that allowable under Applicable Law. Amounts shall be due at the earliest of the following dates:

Interest on Contractor Indebtedness. Notwithstanding any other clause of this Contract, unless otherwise required by Applicable Law, all amounts that become payable by Contractor to Owner Authority under this Contract shall bear simple interest from the date due until paid unless paid within 30 days of becoming due. Unless otherwise required by Applicable Law, the interest rate shall be the interest rate established by the Secretary of the Treasury as provided in Section 12 of the Contract Disputes Act of 1978 (Pub. L. 95-563, 92 Stat. 2383), which is applicable to the period in which the amount becomes due, as provided in this clause, and then at the rate applicable for each 6-month period as fixed by the Secretary until the amount is paid. In no event shall the interest charged or payable hereunder exceed that allowable under Applicable Law. Amounts shall be due at the earliest of the following dates: