per cent. whichever is the greater, compounded monthly and calculated from the due date of payment. A payment not received within seventy-two (72) hours of the due date shall accrue interest from the due date and the non-paying party shall be deemed to be in default from the due date of the payment.
Appears in 3 contracts
Sources: Participation Agreement, Farmout Agreement (ERHC Energy Inc), Production Sharing Contract (CAMAC Energy Inc.)
per cent. whichever is the greater, compounded monthly and calculated from the due date of payment. A payment not received within seventy-seventy- two (72) hours of the due date shall accrue interest from the due date and the non-non- paying party shall be deemed to be in default from the due date of the payment.
Appears in 3 contracts
Sources: Production Sharing Contract (CAMAC Energy Inc.), Production Sharing Contract (CAMAC Energy Inc.), Production Sharing Contract (CAMAC Energy Inc.)