Consequences of Events of Default. (i) If an Event of Default has occurred and is continuing, the interest rate on this Note shall increase immediately by an increment of an additional two hundred basis points, to the extent permitted by applicable law. Any increase of the interest rate resulting from the operation of this subparagraph shall terminate as of the close of business on the date on which no Events of Default exist (subject to subsequent increases pursuant to this subparagraph).
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Samples: Healthessentials Solutions Inc, Healthessentials Solutions Inc, Healthessentials Solutions Inc
Consequences of Events of Default. (ia) If an any Event of Default has occurred and is continuing, the interest rate Interest Rate on this Note shall increase immediately by an increment of an additional two hundred basis points, percentage points (2%) to the extent permitted by applicable law. Any increase of the interest rate Interest Rate resulting from the operation of this subparagraph shall terminate as of the close of business on the date on which no Events of Default exist (subject to subsequent increases pursuant to this subparagraph).
Appears in 2 contracts
Samples: Credit Agreement (Westwood One Inc /De/), Credit Agreement (Westwood One Inc /De/)
Consequences of Events of Default. (ia) If an any Event of Default has occurred and is continuingoccurred, the total interest rate on this the Note shall increase immediately by an increment two (2) percentage points (the “Default Rate”), and such two percent (2%) shall be deemed to be and treated as a part of an additional two hundred basis points, to the extent permitted by applicable lawCurrent Interest Rate. Any increase of the interest rate Current Interest Rate resulting from the operation of this subparagraph subsection shall terminate as of the close of business on the date on which no Events Event of Default exist exists (subject to subsequent increases pursuant to this subparagraph).. 37
Appears in 1 contract
Samples: Note and Warrant Purchase Agreement (Cti Industries Corp)
Consequences of Events of Default. (i) If an Event of Default of the type described in subparagraph 4(a)(i) has occurred and is continuingcontinued for 15 days, the interest rate on this Note the Notes shall increase immediately by an increment of an additional two hundred basis points, percentage point(s) to the extent permitted by applicable law. Any increase of the interest rate resulting from the operation of this subparagraph shall terminate as of the close of business on the date on which no Events such Event of Default exist exists (subject to subsequent increases pursuant to this subparagraph).
Appears in 1 contract
Samples: Commercial Vehicle Group, Inc.
Consequences of Events of Default. (i) If Upon the occurrence of an Event of Default has occurred and is continuing, the interest rate Interest Rate on this Note the Notes shall increase immediately by an increment of an additional two hundred basis points, four percentage point(s) per annum to the extent permitted by applicable law. Any increase of the interest rate Interest Rate resulting from the operation of this subparagraph shall terminate as of the close of business on the date on which no Events of Default exist (subject to subsequent increases pursuant to this subparagraph).
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Consequences of Events of Default. (i) If an any Event of Default has occurred and is continuingoccurred, the interest rate on this Note otherwise applicable to the Notes under Section 1 hereof shall automatically increase immediately by an increment of an additional two hundred 200 basis points, points above the rate determined pursuant to Section 1(a) of this Note to the extent permitted by applicable law. Any increase of the interest rate resulting from the operation of this subparagraph Section 5(b)(i) shall terminate as of the close of business on the date on which no Events of Default exist (subject to subsequent increases pursuant to this subparagraph)exist.
Appears in 1 contract
Samples: Securities Purchase Agreement (Boise Cascade Holdings, L.L.C.)
Consequences of Events of Default. (i) If Upon the occurrence of an Event of Default has occurred and is continuingDefault, the interest rate on this the Note shall increase immediately by an increment of an additional two hundred basis points, (2) percentage points to the extent permitted by applicable law. Any such increase of the interest rate resulting from the operation of this subparagraph shall terminate as of the close of business on the first subsequent date on which no Events of Default exist (subject to subsequent increases pursuant to this subparagraph).
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Consequences of Events of Default. (i) If an any Event of Default has occurred and is continuingcontinued for a period of thirty (30) days thereafter, then the interest rate on this the Note shall increase immediately by an increment as described in the Note, unless the Purchaser has waived such Event of an additional two hundred basis points, to Default or such increase in the extent permitted by applicable lawinterest rate. Any increase of the interest rate resulting from the operation of this subparagraph shall terminate as of the close of business on the date on which no Events of Default exist (subject to subsequent increases pursuant to this subparagraph).
Appears in 1 contract
Samples: Senior Note Purchase Agreement (As Seen on TV, Inc.)
Consequences of Events of Default. (i) If Upon the occurrence and during the continuance of an Event of Default has occurred and is continuingDefault, the interest rate on this Note the Notes shall increase immediately by an increment of an additional two hundred basis points, to the extent permitted by applicable lawDefault Rate. Any increase of the interest rate resulting from the operation of this subparagraph shall terminate as of the close of business on the date on which no Events of Default exist (subject to subsequent increases pursuant to this subparagraph).
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Consequences of Events of Default. (i) If Upon the occurrence and during the continuance of an Event of Default has occurred and is continuingDefault, the interest rate on this the Note shall increase immediately by an increment of an additional two hundred basis points, to the extent permitted by applicable lawDefault Rate. Any increase of the interest rate resulting from the operation of this subparagraph shall terminate as of the close of business on the date on which no Events of Default exist (subject to subsequent increases pursuant to this subparagraph).
Appears in 1 contract
Samples: Note and Warrant Purchase Agreement (AE Biofuels, Inc.)
Consequences of Events of Default. (i) If an any Event of Default has occurred and is continuing, the interest rate on this Note the Notes shall increase immediately by an increment of an additional two hundred basis points, percentage point(s) to the extent permitted by applicable law. Any increase of the interest rate resulting from the operation of this subparagraph shall terminate as of the close of business on the date on which no Events of Default exist (subject to subsequent increases pursuant to this subparagraph).
Appears in 1 contract
Samples: Note and Warrant Purchase Agreement (Churchill Environmental & Industrial Equity Partners Lp)
Consequences of Events of Default. (ia) If an any Event of Default has occurred and is continuingoccurred, then the interest rate on this Note the Notes and any notes issued in exchange for any Securities shall increase immediately by an increment of an additional two hundred basis 3 percentage points, to the extent permitted by applicable law. Any increase of the interest rate resulting from the operation of this subparagraph Section 7.2(a) shall terminate as of the close of business on the date on which no Events of Default exist exists (subject to subsequent increases pursuant to this subparagraphSection 7.2(a)).
Appears in 1 contract
Samples: Convertible Notes Purchase Agreement (Wits Basin Precious Minerals Inc)