Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.0%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four percent (4.0%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable.
Appears in 6 contracts
Samples: Loan and Security Agreement (Oak Street Health, Inc.), Loan and Security Agreement (Oak Street Health, Inc.), Loan and Security Agreement (Oak Street Health, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.42.3, as applicable.
Appears in 5 contracts
Samples: Loan and Security Agreement (Phaserx, Inc.), Loan and Security Agreement (BrightSource Energy Inc), Loan and Security Agreement (Paratek Pharmaceuticals, Inc.)
Default Interest. In the event any payment is not paid on within five (5) business days of the scheduled payment datePayment Date, an amount equal to four two percent (4.02%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2 plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, to the extent permitted by law, compounded at the rate set forth in Section 2.1(c) 2.2 or Section 2.42.6, as applicable.
Appears in 5 contracts
Samples: Loan and Security Agreement (Aegerion Pharmaceuticals, Inc.), Joinder Agreement (Aegerion Pharmaceuticals, Inc.), Loan and Security Agreement (Aegerion Pharmaceuticals, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four two percent (4.02%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, and compounded interest, and professional fees, interest shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four two percent (4.02%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.42.3, as applicable.
Appears in 5 contracts
Samples: Loan and Security Agreement (Your Internet Defender, Inc), Loan and Security Agreement (Corindus Vascular Robotics, Inc.), Loan and Security Agreement (Corindus Vascular Robotics, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all outstanding Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 4 contracts
Samples: Loan and Security Agreement (Kaleido Biosciences, Inc.), Loan and Security Agreement (Kaleido Biosciences, Inc.), Loan and Security Agreement (Codiak BioSciences, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 3 contracts
Samples: Loan and Security Agreement (Tg Therapeutics, Inc.), Loan and Security Agreement (Tg Therapeutics, Inc.), Loan and Security Agreement (Replimune Group, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05.00%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four five percent (4.05.00%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 3 contracts
Samples: Loan and Security Agreement (Sorrento Therapeutics, Inc.), Loan and Security Agreement (Sorrento Therapeutics, Inc.), Loan and Security Agreement (Sorrento Therapeutics, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2(c) plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 3 contracts
Samples: Loan and Security Agreement (Viridian Therapeutics, Inc.\DE), Loan and Security Agreement (BiomX Inc.), Loan and Security Agreement (Eloxx Pharmaceuticals, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment datePayment Date, an amount equal to four two percent (4.02%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2 plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) 2.2 or Section 2.42.6, as applicable.
Appears in 3 contracts
Samples: Joinder Agreement (Transcept Pharmaceuticals Inc), Loan and Security Agreement (Quatrx Pharmaceuticals Co), Loan and Security Agreement (Quatrx Pharmaceuticals Co)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four two percent (4.02%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four two percent (4.02%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.42.3, as applicable.
Appears in 3 contracts
Samples: Loan and Security Agreement (Polymedix Inc), Loan and Security Agreement, Loan and Security Agreement
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.42.3, as applicable.
Appears in 3 contracts
Samples: Loan and Security Agreement (ReachLocal Inc), Loan and Security Agreement (EPIRUS Biopharmaceuticals, Inc.), Loan and Security Agreement (Agile Therapeutics Inc)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon Upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable).
Appears in 2 contracts
Samples: Loan and Security Agreement (Concert Pharmaceuticals, Inc.), Loan and Security Agreement (Concert Pharmaceuticals, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.42.2, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (BIND Therapeutics, Inc), Loan and Security Agreement (Pacira Pharmaceuticals, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the such past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all outstanding Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2(d) plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(d) or Section 2.4, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (COMPASS Pathways PLC), Working Capital Facility Agreement (Heron Therapeutics, Inc. /De/)
Default Interest. In the event any payment is not paid on the scheduled payment datedate (other than due to ACH failure), an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2(c) plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Stealth BioTherapeutics Corp), Loan and Security Agreement (Nabriva Therapeutics PLC)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. [In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four five percent (4.05%) per annum. annum In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable).
Appears in 2 contracts
Samples: Loan and Security Agreement (uniQure B.V.), Loan and Security Agreement (uniQure B.V.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, fees shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.01(c) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.01(c) or Section 2.42.03, as applicable.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Myovant Sciences Ltd.), Loan and Security Agreement (Myovant Sciences Ltd.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four three percent (4.03%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest upon interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable).
Appears in 2 contracts
Samples: Loan and Security Agreement (Glori Energy Inc.), Loan and Security Agreement (Glori Acquisition Corp.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demanddemand made by Agent in writing. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or this Section 2.4, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Century Therapeutics, Inc.), Loan and Security Agreement (Century Therapeutics, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all unpaid Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (X4 Pharmaceuticals, Inc), Loan and Security Agreement (Arsanis, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four three percent (4.03%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four three percent (4.03%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Cerecor Inc.), Loan and Security Agreement (Cerecor Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or this Section 2.42.3, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Cytrx Corp), Loan and Security Agreement (Motif Bio PLC)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Amyris, Inc.), Loan and Security Agreement (Applied Genetic Technologies Corp)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (XOMA Corp), Loan and Security Agreement (Dynavax Technologies Corp)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent five percentage points (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2(c) plus four percent five percentage points (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (INSMED Inc), Loan and Security Agreement (Insmed Inc)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Immune Pharmaceuticals Inc), Loan and Security Agreement (ChromaDex Corp.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.42.3, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Celator Pharmaceuticals Inc), Loan and Security Agreement (Diomed Holdings Inc)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2(c) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Mattersight Corp), Loan and Security Agreement (ATAI Life Sciences N.V.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all outstanding Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2(c) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Plug Power Inc), Loan and Security Agreement (Proteostasis Therapeutics, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.0%) 5% of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four percent (4.0%) 5% per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or this Section 2.42.3, as applicable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Pulmatrix, Inc.), Loan and Security Agreement (Bellicum Pharmaceuticals, Inc)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all unpaid Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c)Term Loan Interest Rate, plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the Term Loan Interest Rate or the rate set forth in Section 2.1(c) or Section 2.4, as applicable.
Appears in 1 contract
Default Interest. In the event If any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) ), or Section 2.42.3, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.3 plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) 2.3 or Section 2.42.6, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.42.3, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) ), or Section 2.4, as applicable.. 2.4
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, fees shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2(c) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable. Confidential material omitted and filed separately with the Commission.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.42.3, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all unpaid Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.. 2.5
Appears in 1 contract
Samples: Loan and Security Agreement (X4 Pharmaceuticals, Inc)
Default Interest. In the event any payment is not paid on of the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2(c) plus four five percent (4.05%) per annum. In the event any interest is not paid on the date when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and solely during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2(c) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 1 contract
Samples: Loan and Security Agreement (Aldeyra Therapeutics, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(h), plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent ny-2659060 interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(h) or Section 2.4, as applicable.
Appears in 1 contract
Samples: Loan and Security Agreement (Replimune Group, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04.00%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, upon notice by Agent to Xxxxxxxx, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(d), plus four percent (4.04.00%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(d) or Section 2.4, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, fees shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2(d) plus four five percent (4.05%) per annumannum (“Default Rate”). In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded daily at the rate set forth in Section 2.1(c2.2(d) or Section 2.4, as applicable.
Appears in 1 contract
Samples: Joinder Agreement (Mesoblast LTD)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable).
Appears in 1 contract
Samples: Loan and Security Agreement (Omthera Pharmaceuticals, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(f), plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(f) or this Section 2.4, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 1 contract
Samples: Loan and Security Agreement (Audentes Therapeutics, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c) or 2.2(c), as applicable, plus four three percent (4.03%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c), 2.2(c) or Section 2.4, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all unpaid Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 1 contract
Samples: Loan and Security Agreement (X4 Pharmaceuticals, Inc)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four three percent (4.03%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable).
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable).
Appears in 1 contract
Default Interest. In the event any payment is not paid made on or prior to the third Business Day after its scheduled payment date, an amount equal to four percent (4.0%) 6% of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(d), plus four percent (4.0%) 6% per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(d) or Section 2.4, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four five percent (4.05%) per annum. annum In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable).
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.0%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four percent (4.0%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or this Section 2.42.3, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) per annum of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.42.3, as applicable.
Appears in 1 contract
Samples: Loan and Security Agreement (Auris Medical Holding AG)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable).
Appears in 1 contract
Samples: Loan and Security Agreement (Navidea Biopharmaceuticals, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(h), plus four percent (4.04%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(h) or Section 2.4, as applicable.. 2.5
Appears in 1 contract
Samples: Loan and Security Agreement (Replimune Group, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four three percent (4.03%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2(c) plus four three percent (4.03%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four three percent (4.03%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four three percent (4.03%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable).
Appears in 1 contract
Samples: Loan and Security Agreement (Cell Therapeutics Inc)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.1(d), plus four five percent (4.05%) per annum. annum In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable2.1(d).
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment datePayment Date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2 plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) 2.3 or Section 2.42.6, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable.. Zosano Pharma, Inc. LSA
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four three percent (4.03%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable).
Appears in 1 contract
Samples: Loan and Security Agreement (Baxano Surgical, Inc.)
Default Interest. In the event any regular monthly payment (but not an accelerated payment) is not paid on the scheduled payment date, an amount equal to four two percent (4.02%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four three percent (4.03%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable2.2(c).
Appears in 1 contract
Samples: Loan and Security Agreement (Mela Sciences, Inc. /Ny)
Default Interest. In the event any payment is not paid on the scheduled payment date, other than due to a failure of any ACH debit, an amount equal to four percent (4.0%) 5% of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four percent (4.0%) 5% per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or this Section 2.42.3, as applicable.
Appears in 1 contract
Samples: Loan and Security Agreement (Mast Therapeutics, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.04.00%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, upon notice by Agent to Xxxxxxxx, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four percent (4.04.00%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4.0%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus four percent (4.0%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or this Section 2.42.3, as applicable.
Appears in 1 contract
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.2(c), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.. 2.5
Appears in 1 contract
Samples: Loan and Security Agreement (Concert Pharmaceuticals, Inc.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, fees shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), 2.2(c) plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c2.2(c) or Section 2.4, as applicable.
Appears in 1 contract
Samples: Loan and Security Agreement (Axovant Sciences Ltd.)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent five percentage points (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), ) plus four percent five percentage points (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, to the extent permitted by law, compounded at the rate set forth in Section 2.1(c) or Section 2.42.3, as applicable.
Appears in 1 contract
Samples: Loan and Security Agreement (Anthera Pharmaceuticals Inc)
Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four five percent (4.05%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c2.1(d), plus four five percent (4.05%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.4, as applicable2.1(d).
Appears in 1 contract
