Acceleration Interest Sample Clauses
Acceleration Interest. In addition to any late payment charge which may be due under the Notes, this Loan Agreement, the Portfolio Mortgages or any other Loan Document (but without duplication thereof), following an Event of Default all sums due hereunder or under any other Loan Document shall bear interest at a rate (the “Default Rate”) equal to the lesser of (a) the interest rate set forth in the Notes plus four percent (4%) per annum, or (b) the maximum rate permitted by law, from and after the first to occur of the following events: (i) if Lender elects to cause the acceleration of the Indebtedness; (ii) if a petition under Title 11 of the Bankruptcy Code, shall be filed by or against Borrower or if Borrower shall seek or consent to the appointment of a receiver or trustee for itself or for any of the Portfolio Properties, file a petition seeking relief under the bankruptcy or other similar laws of the United States, any state or any jurisdiction, make a general assignment for the benefit of creditors, or be unable to pay its debts as they become due; (iii) if a court shall enter an order, judgment or decree appointing, with or without the consent of Borrower, a receiver or trustee for any of them or for any of the Portfolio Properties or approving a petition filed against Borrower which seeks relief under the bankruptcy or other similar laws of the United States, any state or any jurisdiction, and any such order, judgment or decree shall remain in force, undischarged or unstayed, sixty (60) days after it is entered; or (iv) if all sums due hereunder are not paid on the Maturity Date as set forth in the Note.
Acceleration Interest. In addition to any late payment charge which may be due under the Note, Mortgagor shall pay interest on all sums due hereunder at a rate (the "Default Rate") equal to the lesser of (i) the interest rate set forth in the Note plus four percent (4%) per annum, or (ii) the maximum rate permitted by law, from and after the first to occur of the following events: (A) Mortgagee elects in writing to cause the acceleration of the Indebtedness; (B) a petition under ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ Code, shall be filed by Mortgagor or if Mortgagor shall seek or consent to the appointment of a receiver or trustee for itself or for any of the Security, file a petition seeking relief under the bankruptcy or other similar laws of the United States, any state or any other jurisdiction, make a general assignment for the benefit of creditors, or is generally unable to pay its debts as they become due; (C) a court shall enter an order, judgment or decree appointing, with or without the consent of Mortgagor, a receiver or trustee for it or for any of the Security or approving a petition filed against Mortgagor which seeks relief under the bankruptcy or other similar laws of the ▇▇▇▇▇▇ ▇▇▇▇▇▇, any state or any other jurisdiction, and any such order, judgment or decree shall remain in force, undischarged or unstayed, ninety (90) days after it is entered; or (D) if all sums due hereunder are not paid on the Maturity Date as set forth in the Note.
Acceleration Interest. In addition to any late payment charge which may be due under the Notes, Grantor shall pay interest on all sums due hereunder at a rate (the "Default Rate") equal to the lesser of (i) the interest rate set forth in the Notes plus four percent (4%) per annum, or (ii) the maximum rate permitted by law, from and after the first to occur of the following events: if Beneficiary elects to cause the acceleration of the Indebtedness; if a petition under Titl▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇e, shall be filed by or against Grantor or if Grantor shall seek or consent to the appointment of a receiver or trustee for itself or for any of the Security, file a petition seeking relief under the bankruptcy or other similar laws of the United States, any state or any jurisdiction, make a general assignment for the benefit of creditors, or be unable to pay its debts as they become due; if a court shall enter an order, judgment or decree appointing, with or without the consent of Grantor, a receiver or trustee for it or for any of the Security or approving a petition filed against Grantor which seeks relief under the bankruptcy or other similar laws of the United States, any state or any jurisdiction, and any such order, judgment or decree shall remain in force, undischarged or unstayed, sixty (60) days after it is entered; or if all sums due hereunder are not paid on the Maturity Date as set forth in the Notes.
Acceleration Interest. Debtor agrees to pay Lender, upon acceleration of the above indebtedness, interest on all sums then owing hereunder at the rate of 1 1/2% per month if not prohibited by law, otherwise at the highest rate Debtor can legally obligate itself to pay or Lender can legally collect.