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 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 Majority Banks pursuant to Section 27, bear interest at a rate per annum equal to the greater of (a) two percent (2%) above the rate of interest otherwise applicable to such Revolving Credit Loans pursuant to Section 2.5 and the Term Loan pursuant to Section 4.5 and (b) the rate of interest applicable to overdue principal pursuant to Section 6.10.1.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Western Digital Corp)

Amounts Not Overdue. During the continuance of a Default or an Event of Default the principal of the Loans not overdue shall, after notice to the Borrower from the Agent, until such Default or Event of Default has been cured or remedied or such Default or Event of Default has been waived by the Majority Banks pursuant to Section 2730, bear interest at a rate per annum equal to 63 -56- the greater of (ai) two percent (2%) above the rate of interest otherwise applicable to such Revolving Credit Loans pursuant to Section 2.5 and the Term Loan pursuant to Section 4.5 and (bii) the rate of interest applicable to overdue principal pursuant to Section 6.10.19.10.1.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Mercury Air Group Inc)

Amounts Not Overdue. During the continuance of a Default or an Event of Default under Sections 13.1(a), (b) or (c) as it relates to Section 10, the principal of the 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 Majority Banks pursuant to Section 2726, bear interest at a rate per annum equal to the greater of (a) two percent (2%) above the rate of interest otherwise applicable to such Revolving Credit Loans pursuant to Section 2.5 and the Term Loan pursuant to Section 4.5 and (b) the rate of interest applicable to overdue principal pursuant to Section 6.10.15.11.1.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Stride & Associates Inc)

Amounts Not Overdue. During the continuance of a Default or an Event of Default Default, the principal of the Revolving Credit Loans and the International Facility 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 Majority Banks Lenders pursuant to Section 27, bear interest at a rate per annum equal to the greater of (ai) two percent (2%) above the rate of interest otherwise applicable to such Revolving Credit Loans pursuant to Section 2.5 and the Term Loan pursuant to or Section 4.5 3.5, and (bii) the rate of interest applicable to overdue principal pursuant to Section 6.10.16.11.1.

Appears in 1 contract

Sources: Credit Agreement (Transtechnology Corp)

Amounts Not Overdue. During the continuance of a Default or an Event of Default the principal of the 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 Majority Banks pursuant to Section 27[Section]26, bear interest at a rate per annum equal to the greater of (ai) two percent (2%) above the rate of interest otherwise applicable to such Revolving Credit Loans pursuant to Section 2.5 and the Term Loan pursuant to Section 4.5 [Section]2.5 and (bii) the rate of interest applicable to overdue principal pursuant to Section 6.10.1[Section]5.10.1.

Appears in 1 contract

Sources: Revolving Credit Agreement (Hadco Acquisition Corp)

Amounts Not Overdue. During the continuance of a Default or an Event of Default Default, the principal of the Revolving Credit Loans, the Term Loan and the International Facility 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 Majority Banks Lenders pursuant to Section 27, bear interest at a rate per annum equal to the greater of (ai) two percent (2%) above the rate of interest otherwise applicable to such Revolving Credit Loans pursuant to Section 2.5 and the Term Loan pursuant to or Section 4.5 3.5, and (bii) the rate of interest applicable to overdue principal pursuant to Section 6.10.16.11.1.

Appears in 1 contract

Sources: Credit Agreement (Transtechnology Corp)