Common use of Interest on Late Payments Clause in Contracts

Interest on Late Payments. If any payment provided for in Section 5.2 or Section 5.3 hereof is not made when due, then the Company shall pay to Executive interest on the amount payable from the date that such payment should have been made under such Section until such payment is made, which interest shall be calculated at 2% plus the prime or base rate of interest as reported from time to time in the Wall Street Journal, and shall further hold Executive harmless from any liability under Section 409A of the Code.

Interest on Late Payments. If any payment provided for in Section 5.1, Section 5.2 or Section 5.3 hereof is not made when due, then the Company shall pay to Executive interest on the amount payable from the date that such payment should have been made under such Section until such payment is made, which interest shall be calculated calculated, on a per-annum basis, at 2% plus the prime or base rate of interest as reported from time to time in the Wall Street Journal, and shall further hold Executive harmless from any liability under Section 409A of the Code.

Interest on Late Payments. If any payment provided for in Section 5.2 5(a), Section (b) or Section 5.3 5(c) hereof is not made when due, then the Company shall pay to Executive interest on the amount payable from the date that such payment should have been made under such Section until such payment is made, which interest shall be calculated calculated, on a per-annum basis, at 2% plus the prime or base rate of interest as reported from time to time in the Wall Street Journal, and shall further hold Executive harmless from any liability under Section 409A of the Code.

Interest on Late Payments. If any payment provided for in Section 5.2 or Section 5.3 hereof is not made when due, then the Company shall pay to Executive interest on the amount payable from the date that such payment should have been made under such Section until such payment is made, which interest shall be calculated at 2% plus the prime or base rate of interest as reported from time to time in the Wall Street Journal, Journal (or such other amount as permitted under applicable law) and shall further hold Executive harmless from any liability under Section 409A of the Code.