The unpaid balance of each late payment bears interest at a rate equal to the lesser of 1% per month or the maximum amount permitted by law.</p> <p> <strong>6. Term and Termination</strong> </p> <p>6.1. This Agreement begins on the Effective Date and will remain in effect unless terminated pursuant to Section 6.2 or 6.3 below.</p> <p>6.2.