Common use of Amounts Not Overdue Clause in Contracts

Amounts Not Overdue. During the continuance of a Default or an Event of Default the principal of the Revolving Credit Loans not overdue shall, until such Default or Event of Default has been cured or remedied or such Default or Event of Default has been waived by the Required Lenders pursuant to §17.12, bear interest at a rate per annum equal to the rate of interest applicable to overdue principal pursuant to §6.10.1.

Appears in 2 contracts

Sources: Revolving Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.), Revolving Credit Agreement (McCormick & Schmick Holdings, L.L.C.)

Amounts Not Overdue. During the continuance of a Default or an Event of Default the principal of the Revolving Credit Loans not overdue shall, at the option of the Administrative Agent or upon the request of the Required Lenders and continuing thereafter until such Default or Event of Default has been cured or remedied or such Default or Event of Default has been waived by the Required Lenders pursuant to §17.12§ 17.14, bear interest at a rate per annum equal to the rate of interest applicable to overdue principal pursuant to §6.10.1§ 6.11.1.

Appears in 2 contracts

Sources: Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.), Revolving Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.)