Overdue Interest. When the issuing company fails to pay for the principal or interest on each due date according to the paragraph 9, the overdue interest shall be paid on the principal. In this case, overdue interest rate shall be the annual interest rate of 12%. Overdue interest shall be paid on a daily basis with 365 days in a year.
Appears in 2 contracts
Sources: Underwriting Agreement (Hanryu Holdings, Inc.), Underwriting Agreement (Hanryu Holdings, Inc.)