Default Interest and Fees. 6.1 Default interest shall be applied to any due but unpaid amount of the Borrower at the rate of 150% over the applicable interest rate calculating from (but not including) the due date until such amount is repaid in full to the Bank. The period for which an overdue amount remains unpaid may be divided into separate periods which the Bank may select in its absolute discretion and, if unpaid at the end of each such period, the relevant interest shall be capitalised (so as to become principal) and itself bear interest in accordance with this provision. Any default interest is immediately payable on demand.
Default Interest and Fees. (a) The Obligors acknowledge and agree that as at 31 December 2012, USD$$116,061 of additional default interest has accrued at the Default Rate under the Original Agreement (and the for avoidance of doubt, this amount excludes ordinary interest that has accrued under Note Condition 2.1 in respect of the same period) (Default Interest). The Obligors agree that all such Default Interest will be payable at the end of the PIK Period and until such payment is made, the Default Interest will accrue interest at 15% per annum during the PIK Period, capitalising on the first day of each month (and the Obligors shall pay all accrued or capitalised amounts in respect of the Default Interest at the end of the PIK Period).
Default Interest and Fees. If there is an Event of Default due to non-payment and while it continues you must pay the default interest charges. In the event of a breach of the contract or on the enforcement of the contract, you must pay us the default fees specified below.
Default Interest and Fees. Following the occurrence and during the continuance of any Event of Default, at the election of the Required Lenders, the Lenders or the Issuing Lender, as applicable, shall be entitled to receive, to the extent permitted by applicable law, and as additional compensation for the additional risks to the Lenders resulting from the existence of such Event of Default, interest on the outstanding principal of, and overdue interest, if any, on, the Loans hereunder at a rate per annum equal to the interest rate thereon (determined as provided in Section 3.1) plus two hundred (200) basis points and Letter of Credit fees at a rate per annum equal to the rate specified in Section 3.14 plus two hundred (200) basis points.
Default Interest and Fees. If you exceed the Credit Limit on your SBS Unwind Loan, you must pay interest on the excess amount at the Default Interest Rate. Interest will be charged at the Default Interest Rate from the date you exceed your Credit Limit until the date you cease to exceed the Credit Limit and is calculated by multiplying the excess amount at the end of each day by the daily Default Interest Rate. The daily Default Interest Rate is the Default Interest Rate divided by 365. Default interest may be capitalised (ie added) to your Loan from time to time at our discretion. Any interest that is capitalised will accrue interest from the date it is capitalised. If you are in breach of your SBS Unwind Loan Agreement, we may charge you default fees as specified in the Reverse Equity Mortgage Fees and Charges Schedule.
Default Interest and Fees. Interest on Advances shall accrue at the default rate set forth in Section 3.1 of the Credit Agreement and Letter of Credit Fees shall be increased by an additional two percent (2%) per annum, in each case commencing with the failure to comply with Section 9.7 for the fiscal year ended December 31, 2012 and shall be payable as provided in the Credit Agreement for the payment of interest and Letter of Credit Fees, respectively.
Default Interest and Fees. Notwithstanding the foregoing or any provision in Section 5, (x) for purposes of the interest rate on all Loans outstanding and the fees set forth in Section 5 with respect to all Loans outstanding and all Letters of Credit outstanding, the interest rate or fee applicable to each Loan or Letter of Credit shall be increased by 2% and (y) interest shall accrue on all other amounts outstanding hereunder that are due hereunder at 2% plus the interest rate applicable to Base Rate Revolving Loans, in each case:
Default Interest and Fees. Upon the occurrence and during the continuance of an event of default, interest will accrue (i) in the case of past due principal, interest or premium (if any) on any loan at a rate of 2.0% per annum plus the rate otherwise applicable to such loan and (ii) in the case of any other past due amount, at a rate of 2.0% per annum plus the non-default interest rate then applicable to Base Rate loans under the Revolving Credit Facility. Default interest shall be payable on demand.
Default Interest and Fees. Upon the occurrence and during the continuance of an event of default or a payment default, interest will accrue at a rate of 14.0% per annum. Mandatory Prepayments: Mandatory prepayments will be consistent with those customary for facilities of this nature.
Default Interest and Fees. Default Interest will accrue on an unpaid principal or Interest due hereunder at the rate of sixteen percent (16%) per annum upon the occurrence of any Event of Default until the Event of Default is cured. Default Interest shall be payable monthly basis commencing thirty (30) days after the Default Interest has begun accruing. Default Interest will be computed on a three hundred sixty-five (365) day year.
