Common use of Interest Clause in Contracts

Interest. (a) Interest (including, for the avoidance of doubt, any PIK Interest) shall accrue on the principal amount of the Subordinated Liabilities at the same rate and on the same terms at which interest accrues on the SPH Facility from the date on which the relevant amount of the Subordinated Liabilities is awarded by a final (právoplatný) and enforceable (vykonateľný) judgment of the relevant Slovak court or arbitral tribunal of competent jurisdiction which is immediately enforceable (and for so long as it remains immediately enforceable) up to the date of actual payment of the relevant amount of the Subordinated Liabilities. Any interest accruing under this Clause 3 (whether payable in cash or as PIK Interest) shall be payable by the Company to the Subordinated Creditor on the same terms as the interest accruing on the SPH Facility is payable in accordance with the ICA and the SPH Facility Agreement. For the avoidance of doubt, to the extent a final judgment which is no longer appealable, including by extraordinary appeal or constitutional complaint, determines that all or a portion of the Subordinated Liabilities were not due, no interest shall be due on all or such portion of the Subordinated Liabilities under this Clause 3 and the Subordinated Creditor shall reimburse all or the applicable portion of any interest paid by the Company hereunder prior to such final judgement (whether such interest had been paid in cash or as PIK Interest, and provided, for the avoidance of doubt, that also any cash interest paid with respect to capitalized PIK Interest determined not to be due shall be so reimbursed). (b) The Subordinated Creditor and the Company agree that no interest (whether statutory, default or otherwise) shall accrue and be paid by the Company to the Subordinated Creditor with respect to the Subordinated Liabilities other than in accordance with the foregoing paragraph (a).

Interest. (a) Interest (including, for the avoidance of doubt, any PIK Interest) shall accrue on the principal amount of the Subordinated Postponed Liabilities at the same rate and on the same terms at which interest accrues on the SPH Facility Subordinated Liabilities in accordance with the Subordination Agreement from the date on which the relevant amount of the Subordinated Postponed Liabilities is awarded by a final (právoplatný) and enforceable (vykonateľný) judgment of the relevant Slovak court or arbitral tribunal of competent jurisdiction which is immediately enforceable (and for so long as it remains immediately enforceable) up to the date of actual payment of the relevant amount of the Subordinated Postponed Liabilities. Any interest accruing under this Clause 3 2.4 (whether payable in cash or as PIK Interest) shall be payable by the Company relevant State Entity to the Subordinated Postponed Creditor on the same terms as the interest accruing on the SPH Facility Subordinated Liabilities is payable in accordance with the ICA and the SPH Facility Subordination Agreement. For the avoidance of doubt, to the extent a final judgment which is no longer appealable, including by extraordinary appeal or constitutional complaint, determines that all or a portion of the Subordinated Postponed Liabilities were not due, no interest shall be due on all or such portion of the Subordinated Postponed Liabilities under this Clause 3 2.4 and the Subordinated relevant Postponed Creditor shall reimburse all or the applicable portion of any interest paid by the Company relevant State Entity hereunder prior to such final judgement (whether such interest had been paid in cash or as PIK Interest, and provided, for the avoidance of doubt, that also any cash interest paid with respect to capitalized PIK Interest determined not to be due shall be so reimbursed). (b) The Subordinated Creditor and the Company agree that no interest (whether statutory, default or otherwise) shall accrue and be paid by the Company to the Subordinated Creditor with respect to the Subordinated Liabilities other than in accordance with the foregoing paragraph (a).