Contractual Penalty. If the Issuer fails to pay to the Bondholder outstanding Interest payable by it under these Terms and Conditions on its due date, contractual penalty in amount of 0.05% of outstanding Interest per day shall accrue, to the fullest extent permitted by law. Any interest accruing under this Clause 6.6 shall be immediately payable by the Issuer on demand by the Bondholder. Payment of the penalty does not relieve the Bondholder from payment of unpaid Interest.
Appears in 4 contracts
Sources: Subscription Agreement, Subscription Agreement, Subscription Agreement