Common use of Interest on Overdue Payments Clause in Contracts

Interest on Overdue Payments. Without limiting the rights of the Employee at law or in equity, if the Company fails to make any payment required to be made under this Agreement on a timely basis, the Company shall pay interest on the amount thereof at an annualized rate of interest equal to the “prime rate” as set forth from time to time during the relevant period in The Wall Street Journal “Money Rates” column, plus 1%.

Interest on Overdue Payments. Without limiting the rights of the Employee at law or in equity, if the Company fails to make any payment required to be made under this Agreement on a timely basis, the Company shall pay interest on the amount thereof at an annualized rate of interest equal to the “prime rate” as set forth from time to time during the relevant period in The Wall Street Journal “Money Rates” columnJournal, plus 1%.

Interest on Overdue Payments. Without limiting the rights of the Employee at law or in equity, if the Company fails to make any payment required to be made under this Agreement on a reasonably or substantially timely basis, the Company shall pay interest on the amount thereof at an annualized rate of interest equal to the “prime rate” as set forth from time to time during the relevant period in The Wall Street Journal “Money Rates” columnJournal, plus 1%.