Common use of Interest for late payment Clause in Contracts

Interest for late payment. Any amount due to a Party pursuant to this Agreement and remaining unpaid after the date when payment was due shall bear interest from the date such payment was due until paid at a rate equal to the Base Rate in effect from time to time.

Interest for late payment. Any amount properly due to a Party pursuant to this Agreement and remaining unpaid after the date when payment was due shall bear interest (both before and after judgment), such interest to accrue from day-to-day from the date such payment was due until such amount is paid in full at a rate equal to the Base Interest Rate in effect from time to timethe date when payment was due until the amount due is actually received by the payee.