12. Interest
To the extent permitted by applicable law, if any sum of money payable hereunder or under any
Transaction is not paid when due, interest shall accrue on the unpaid sum as a separate debt at the greater of the
Pricing Rate for the
Transaction to which such sum relates (where such sum is referable to a
Transaction) and
LIBOR on a 360 day basis or 365 day basis in accordance with the applicable ISMA convention, for the actual number of days during the period from and including the date on which payment was due to, but excluding, the date of payment.