In the event that any Franchise payment or recomputed amount is not made on or before the applicable dates heretofore specified, interest shall be charged from such date at the annual rate of twelve percent (12%) or two percent (2%) over the prime rate per month, whichever is higher, at Bank One, N.A. or its successor on the date upon which the Franchise payment was due, compounded monthly.
(Ord. 01-2301, passed 12-11-01)