1.1 In respect of the payments to be made pursuant to this Schedule Part 14 (Compensation on Participant Event of Default and Termination), as soon as practicable after, and in any event within twenty (20) Business Days of the date on which the Participant Default Notice is served, in the case of Section 1, or this Agreement is terminated, in the case of Section 2 (the "Invoice Date"), hubco shall give to the relevant Participant(s) an invoice for the relevant compensation or termination sum and sufficient supporting evidence, reasonably satisfactory to the Participant(s), justifying the amount of the relevant compensation or termination sum including a breakdown of each of the individual elements of such sum.
1.2 Each relevant Participant shall pay to hubco:
1.2.1 the relevant compensation or termination sum within forty (40) Business Days of the Invoice Date; and
1.2.2 interest on the relevant compensation or termination sum (or any part of such sum that remains outstanding) from the date on which the Participant Default Notice is served or on which this Agreement is terminated, as the case may be, in the case of Section 1, or this Agreement is terminated, in the case of Section 2, until the date of payment:
(a) at LIBOR for the period from (but excluding) the date on which the Participant Default Notice is served, in the case of Section 1, or this Agreement is terminated, in the case of Section 2, to (and including) the date which is forty (40) Business Days after the Invoice Date; and
(b) thereafter, at the Default Interest Rate.