Common use of Overdue Interest Clause in Contracts

Overdue Interest. Without prejudice to the remedies available to the Lender under this Agreement or otherwise, the Borrower shall pay, in Dollars, interest at the rate of LIBOR Overnight Rate plus 4.50% on any principal amount of any Loan or any other amount which is due under this Agreement which is not paid when due (whether by lapse of time, acceleration, requirement for mandatory prepayment or otherwise), for each day that such amount remains unpaid until payment in full thereof.