Template:MRA 1996 11(h): Difference between revisions
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Amwelladmin (talk | contribs) Created page with "{{mraprov|11(h)}} To the extent permitted by applicable law, the defaulting party shall be liable to the nondefaulting party for interest on any amounts owing by the defau..." |
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{{mraprov|11(h)}} [[To the extent permitted by applicable law]], the defaulting party shall be liable to the nondefaulting party for interest on any amounts owing by the defaulting party hereunder, from the date the defaulting party becomes liable for such amounts hereunder until such | {{mraprov|11(h)}} [[To the extent permitted by applicable law]], the defaulting party shall be liable to the nondefaulting party for interest on any amounts owing by the defaulting party hereunder, from the date the defaulting party becomes liable for such amounts hereunder until such | ||
amounts are (i) paid in full by the defaulting party or (ii) satisfied in full by the exercise of the nondefaulting party’s rights hereunder. Interest on any sum payable by the defaulting party to the nondefaulting party under this Paragraph {{mraprov|11(h)}} shall be at a rate equal to the greater of the {{mraprov|Pricing Rate}} for the relevant {{mraprov|Transaction}} or the {{Prime Rate}}. <br> | amounts are (i) paid in full by the defaulting party or (ii) satisfied in full by the exercise of the nondefaulting party’s rights hereunder. Interest on any sum payable by the defaulting party to the nondefaulting party under this Paragraph {{mraprov|11(h)}} shall be at a rate equal to the greater of the {{mraprov|Pricing Rate}} for the relevant {{mraprov|Transaction}} or the {{mraprov|Prime Rate}}. <br> | ||
Latest revision as of 10:46, 22 March 2020
11(h) To the extent permitted by applicable law, the defaulting party shall be liable to the nondefaulting party for interest on any amounts owing by the defaulting party hereunder, from the date the defaulting party becomes liable for such amounts hereunder until such
amounts are (i) paid in full by the defaulting party or (ii) satisfied in full by the exercise of the nondefaulting party’s rights hereunder. Interest on any sum payable by the defaulting party to the nondefaulting party under this Paragraph 11(h) shall be at a rate equal to the greater of the Pricing Rate for the relevant Transaction or the Prime Rate.