Common use of Payment and Interest Clause in Contracts

Payment and Interest. 8.3.1 Any payment to be made pursuant to Clauses 8.1 or 8.2 shall: (a) to the extent possible, be aggregated and discharged by way of set-off between these payments; (b) be made by wire transfer of immediately available funds to such bank account as the recipient Party may designate on or before the fifth (5th) Business Day after the Statements become final and binding upon the Seller and the Purchaser pursuant to Clause 7 and Schedule 11; and (c) include interest thereon calculated from the day after the Effective Time to the date of payment, both days inclusive, at the Interest Rate. 8.3.2 All payments (including interest payments) made under this Clause 8 shall be made on account of the Purchase Price.