Interest.

If Id Software does not receive the applicable Royalty payment on or before the due date of such payment, Licensee agrees to pay and shall pay interest on past due Royalties owed to Id Software from such date as specified in the following sentence at a rate equal to the lesser of (i) eighteen percent (18%) per annum and (ii) the maximum interest rate per annum allowed by applicable law. For purposes of clarification, the interest referenced in the immediately preceding sentence will only begin to accrue on the first (1st) day following the due date of the due and owing, but unpaid, Royalty payment.
NOTHING HEREIN SHALL BE CONSTRUED AS A REQUEST OR DEMAND BY ID SOFTWARE FOR INTEREST AT A RATE HIGHER THAN ALLOWED BY APPLICABLE LAW. IT IS THE INTENT OF THE PARTIES HERETO THAT NO INTEREST BE CHARGED HEREUNDER WHICH EXCEEDS THE MAXIMUM RATE ALLOWED BY APPLICABLE LAW. THE INTEREST RATE APPLICABLE TO PAST DUE ROYALTY PAYMENTS SHALL NEVER EXCEED THE MAXIMUM RATE ALLOWED BY APPLICABLE LAW, UNDER ANY CIRCUMSTANCES.