Common use of Payments; Interest Clause in Contracts

Payments; Interest. Any payments due under this Agreement shall be due on such date as specified in this Agreement and, in the event such date is not a Business Day, then the next succeeding Business Day. Based on any failure of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ to make a payment within *** after the due date, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ shall pay computed interest (the interest period commences on the due date and ends on the payment date) to Palatin at a rate per annum equal to the EUR LIBOR or USD LIBOR, as the case may be (according to the underlying payment due), for one month quoted on the due date by the European Central Bank plus a premium of *** percent (***%). The interest rate shall be adjusted monthly and interest shall be compounded monthly in arrears. In addition, interest shall be computed on the basis of a 360 day year actual days elapsed, and shall be due and payable on the tender of the underlying principal payment.

Payments; Interest. Any payments due under this Agreement shall be due on such date as specified in this Agreement and, in the event such date is not a Business Day, then the next succeeding Business Day. Based on any Any failure of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ by Molecular Insight to make a payment within *** ten (10) Business Days after the date when due date, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ shall obligate Molecular Insight to pay computed interest (interest, the interest period commences commencing on the due date and ends ending on the payment date) , to Palatin Schering at a rate per annum equal to the EUR LIBOR EURIBOR or USD LIBOR, as the case may be (according to the underlying payment due), for one month quoted on the due date by the European Central Bank plus a premium of *** three percent (***3%). The interest rate shall be adjusted monthly and interest shall be compounded monthly in arrears. In addition, interest shall be computed on the basis of a 360 day year actual days elapsed, and shall be due and payable on the tender of the underlying principal payment.