Common use of Late Payments by the Corporation Clause in Contracts

Late Payments by the Corporation. The amount of any Payment not made to any Member by the applicable Final Payment Date shall be payable together with “Default Rate Interest”, calculated at the Default Rate and accruing on the amount of the unpaid Payment from the applicable Final Payment Date until the date on which the Corporation makes such Payment to such Member.

Late Payments by the Corporation. The amount of any Payment payment not made to any Member by the applicable Final Payment Date Corporation to the Applicable Member when due under the terms of this Agreement shall be payable together with “Default any interest thereon, computed at a floating rate equal to the Interest Rate Interest”, calculated at the Default Rate plus 100 basis points and accruing on the amount of the unpaid Payment commencing from the applicable Final Payment Date until the date on which the Corporation makes such Payment to such Memberpayment was due and payable.