Common use of Default Interest Clause in Contracts

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 26 contracts

Samples: Credit Agreement (Dte Energy Co), Credit Agreement (Michigan Consolidated Gas Co /Mi/), Year Credit Agreement (Dte Energy Co)

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Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, and (ii) the Borrower shall pay, to the fullest extent permitted by law, interest on the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 20 contracts

Samples: Credit Agreement (Dte Energy Co), Credit Agreement (Dte Energy Co), Five Year Credit Agreement (Dte Energy Co)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing by such Borrower to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder by such Borrower that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 11 contracts

Samples: Year Credit Agreement (Hershey Co), Credit Agreement (Hershey Co), Credit Agreement (Hershey Co)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower Borrowers shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 10 contracts

Samples: Credit Agreement (Applera Corp), Credit Agreement (Interpublic Group of Companies Inc), Credit Agreement (Applera Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause subsection (a)(i) or (a)(ii) aboveof this Section 2.07, at a rate per annum equal at all times (after as well as before judgment) to 21% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause subsection (a)(i) or (a)(ii) above, of this Section 2.07 and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 21% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause subsection (a)(i) aboveof this Section 2.07.

Appears in 9 contracts

Samples: Year Credit Agreement (United Parcel Service Inc), Five Year Credit Agreement (United Parcel Service Inc), Day Credit Agreement (United Parcel Service Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing by such Borrower to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 21% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder by such Borrower that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 21% per annum above the rate per annum required to be paid on Base Rate Advances such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above.

Appears in 9 contracts

Samples: Execution (Honeywell International Inc), Credit Agreement (Alliedsignal Inc), Credit Agreement (Alliedsignal Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a) or Section 6.01(e), the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance made to it and owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 7 contracts

Samples: Day Credit Agreement (Sprint Corp), Day Credit Agreement (Sprint Corp), Day Credit Agreement (Sprint Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, and (ii) the Borrower shall pay, to the fullest extent permitted by law, interest on the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 7 contracts

Samples: Term Loan Credit Agreement (DTE Electric Co), Term Loan Credit Agreement (DTE Electric Co), Term Loan Credit Agreement (DTE Electric Co)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the unpaid and overdue principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by lawApplicable Law, the amount of any interest, fee or other amount payable by the Borrower hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 7 contracts

Samples: Credit Agreement (Allegheny Energy, Inc), Credit Agreement (Allegheny Energy, Inc), Assignment and Assumption Agreement (Allegheny Energy, Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Defaulta Default under 7.01(a), (e) or (f), the Borrower Borrowers shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder under the Loan Documents that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 5 contracts

Samples: Credit Agreement (Broadwing Inc), Credit Agreement (Cincinnati Bell Inc), Credit Agreement (Broadwing Communications Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Defaulta Default under Section 6.01(a) or 6.01(f), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on Base the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above, and, in all other cases, on Prime Rate Advances pursuant to clause (a)(i) above.

Appears in 4 contracts

Samples: Credit Agreement (Quality Stores Inc), Credit Agreement (Quality Stores Inc), Credit Agreement (Central Tractor Farm & Country Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 21% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 21% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 4 contracts

Samples: Credit Agreement (International Flavors & Fragrances Inc), Credit Agreement (International Flavors & Fragrances Inc), Day Credit Agreement (International Flavors & Fragrances Inc)

Default Interest. (i) Upon the occurrence and during the continuance ---------------- of an Event of DefaultDefault under Section 6.01(a) related to the failure to pay principal, interest or fees, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 4 contracts

Samples: Day Credit Agreement (Agilent Technologies Inc), Credit Agreement (Agilent Technologies Inc), Day Credit Agreement (Agilent Technologies Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i), (a)(ii) or (a)(iia)(iii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i), (a)(ii) or (a)(iia)(iii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 4 contracts

Samples: Day Credit Agreement (Applied Materials Inc /De), Day Credit Agreement (Applied Materials Inc /De), Credit Agreement (Applied Materials Inc /De)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall Borrowers jointly and severally agree to pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 3 contracts

Samples: Year Credit Agreement (Lafarge North America Inc), Year Credit Agreement (Lafarge North America Inc), Day Credit Agreement (Lafarge North America Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on on: (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, ; and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Revolving Credit Advances pursuant to clause (a)(i) above.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Telecomunicaciones De Puerto Rico Inc), Revolving Credit Agreement (Telecomunicaciones De Puerto Rico Inc), Revolving Credit Agreement (Telecomunicaciones De Puerto Rico Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, at the Borrower option of the Agent or on the request of the Required Term Lenders, the Borrowers shall pay interest on the unpaid principal amount of each Revolving Credit Advance owing to each Lenderthe Term Loan then outstanding, payable in arrears on the dates referred to in clause (a)(i) or (a)(iiSections 2.08(b) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance the outstanding amount of the Term Loan pursuant to clause (a)(i) or (a)(iiSection 2.08(b)(i) above. Further, and (ii) the Borrower Borrowers shall paypay interest, to the fullest extent permitted by law, on the amount of any interest, fee or other amount (other than principal) payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) aboveSection 2.08(b)(i).

Appears in 3 contracts

Samples: Joinder Agreement (Sears Holdings Corp), Joinder Agreement (Sears Holdings Corp), Joinder Agreement (Sears Holdings Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance (other than a Competitive Bid Advance) owing to each LenderLender by such Borrower, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Prime Rate Advances pursuant to clause (a)(i) above.

Appears in 3 contracts

Samples: Credit Agreement (Paxar Corp), Pledge Agreement (Paxar Corp), Credit Agreement (Paxar Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an any Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2the lesser of the maximum rate permitted by applicable law and 4% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder under the Loan Documents that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 24% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 3 contracts

Samples: Credit Agreement (Summit Hotel Properties, Inc.), Credit Agreement (Summit Hotel Properties, Inc.), Credit Agreement (Summit Hotel Properties, Inc.)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, with the Borrower consent or at the direction of the Required Lenders, the Borrowers shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i), (a)(ii) or (a)(iia)(iii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i), (a)(ii) or (a)(iia)(iii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Credit Agreement (Invesco Ltd.), Credit Agreement (Invesco Ltd.)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, with the consent or at the direction of the Required Lenders, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i), (a)(ii) or (a)(iia)(iii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i), (a)(ii) or (a)(iia)(iii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Credit Agreement (Invesco Ltd.), Credit Agreement (Invesco Ltd.)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder or under any Note that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Year Credit Agreement (Mirant Corp), Day Credit Agreement (Mirant Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing by such Borrower to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveof this Section 2.07 and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, of this Section 2.07 and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) of this Section 2.07, and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) aboveof this Section 2.07.

Appears in 2 contracts

Samples: Credit Agreement (Ipc Communications Inc /De/), Credit Agreement (Ipc Information Systems Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 7.01(a) in respect of principal amounts, the Borrower Borrowers shall pay interest on the unpaid principal amount of each Revolving Credit Advance and Reimbursement Obligation owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance or Reimbursement Obligation pursuant to clause (a)(i) or (a)(ii) above. Further, and (ii) the Borrower Borrowers shall paypay interest, to the fullest extent permitted by law, on the amount of any interest, fee or other amount (other than principal) payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Credit Agreement (Sears Roebuck Acceptance Corp), Execution (Kmart Holding Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01 (except Section 6.01(c)), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit the Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(ia)(1) or (a)(ii) above, at a rate per annum equal at all times to 21.5% per annum above the rate per annum required to be paid on such Revolving Credit the Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee interest or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 21.5% per annum above the rate per annum required to be paid on Base Rate the Advances pursuant to clause (a)(i) aboveor (a)(ii)above.

Appears in 2 contracts

Samples: Credit Agreement (Macquarie Infrastructure CO Trust), Credit Agreement (Macquarie Infrastructure CO Trust)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder under the Loan Documents that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Credit Agreement (Key3media Group Inc), Credit Agreement (Key3media Group Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(ia) above or Section 2.09(c) or (a)(iid) aboveand on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(ia) above or Section 2.09(c) or (a)(iid) above, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(ia) above.

Appears in 2 contracts

Samples: Credit Agreement (Diveo Broadband Networks Inc), Credit Agreement (Diveo Broadband Networks Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each LenderLender (except as otherwise provided in Section 2.04(e)), payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing by such Borrower to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 21% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 21% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Five Year Credit Agreement (Rohm & Haas Co), Year Credit Agreement (Rohm & Haas Co)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance made to it owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Year Credit Agreement (Polyone Corp), Year Credit Agreement (Polyone Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower Borrowers shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each LenderLender Party, payable in arrears on the dates referred to in clause (a)(i) or (a)(iia) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(ia) or above (a)(ii) above“Default Interest”), as the case may be, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demandwithin three (3) Business Days following notice thereof from the Administrative Agent to the Borrowers, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(ia) above.

Appears in 2 contracts

Samples: And Guaranty Agreement (Pacific Drilling S.A.), And Guaranty Agreement (Pacific Drilling S.A.)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault with respect to any Borrower, the Borrower shall Agent may, and upon the request of the Required Lenders shall, require the Borrowers to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(iia) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(ia) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(ia) above; provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

Appears in 2 contracts

Samples: Credit Agreement (Mirae Asset Discovery Funds), Credit Agreement (Mirae Asset Discovery Funds)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each LenderLender that is not paid when due, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Credit Agreement (Phelps Dodge Corp), Credit Agreement (Phelps Dodge Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (x) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (iiy) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder under the Financing Documents that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Credit Agreement (Amr Corp), Aircraft Security Agreement (Amr Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, subject to Law, the Borrower shall pay interest on the obligations in respect of the Term Loan Facility (“Default Interest”) on (i) the unpaid principal amount of each Revolving Credit Advance owing Accommodation Outstanding to each Lender, payable in arrears on the dates referred to in clause (a)(i1) or (a)(ii2) above, as applicable, and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i1) or (a)(ii2) above, as applicable, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder under this Agreement or any other Credit Document to the Administrative Agent or any Lender that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, and, in all other cases, on Base Rate ABR Advances pursuant to clause (a)(i1) above.

Appears in 2 contracts

Samples: Credit Agreement (Open Text Corp), Credit Agreement (Open Text Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event either of Default(a) a Payment Default or (b) the making of any Distribution by the Company during any Fiscal Quarter in respect of which the Company does not pay cash interest on this Note or has not repaid all amounts added to the principal amount of this Note pursuant to Section 2.01(a), the Borrower Company shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance this Note owing to each Lenderthe Holder, payable in arrears on the dates referred to in clause (a)(iSection 2.01(a) or (a)(iib) aboveabove and on demand, at a rate per annum equal at all times to 25% per annum above the rate per annum required to be paid on such Revolving Credit Advance principal amount pursuant to clause (a)(iSection 2.01(a) or (a)(iib) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount interest payable hereunder under this Note that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 25% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause Section 2.01(a) or (a)(ib) aboveabove ("DEFAULT INTEREST").

Appears in 1 contract

Samples: Txu Us Holdings Co

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, at the Borrower option of the Agent or on the request ofunless waived by the Required Lenders, the Borrowers shall pay interest on the unpaid principal amount of each Revolving Credit Advance owing to each Lenderthe Term LoanLoans then outstanding, payable in arrears on the dates referred to in clause (a)(i) or (a)(iiSections 2.08(a) above, at a rate per annum equal at all times to 22.0% per annum above the rate per annum required to be paid on such Revolving Credit Advance the outstanding amount of the Term Loan pursuant to clause (a)(i) or (a)(iiSection 2.08(a)(i) above. Further, and (ii) the Borrower Borrowers shall paypay interest, to the fullest extent permitted by law, on the amount of any interest, fee or other amount (other than principal) payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 22.0% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) aboveSection 2.08(a)(i).

Appears in 1 contract

Samples: Term Loan Credit Agreement (Sears Holdings Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the The Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each LenderLender that is not paid when due (whether at maturity, by acceleration, or otherwise), payable in arrears on the dates referred to in clause (a)(i), (a)(ii), (a)(iii) or (a)(iia)(iv) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i), (a)(ii), (a)(iii) or (a)(iia)(iv) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that which is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Providence Journal Co)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Defaulta Default under Section 6.01(c) with respect to any covenant contained in Section 5.04 or under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Fitness Holdings Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an ---------------- Event of DefaultDefault under Section 6.01(a) or Section 6.01(e), the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance made to it and owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Day Credit Agreement (Sprint Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder (without duplication as to clause (i) above) that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (360 Communications Co)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to two (2% per annum ) percentage points above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to two (2% per annum ) percentage points above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Puerto Rico Telephone Co Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, at the Borrower option of the Agent or on the request of the Required Lenders, the Borrowers shall pay interest on the unpaid principal amount of each Revolving Credit Advance owing to each Lenderthe Term Loan then outstanding, payable in arrears on the dates referred to in clause (a)(i) or (a)(iiSections 2.08(a) above, at a rate per annum equal at all times to 22.0% per annum above the rate per annum required to be paid on such Revolving Credit Advance the outstanding amount of the Term Loan pursuant to clause (a)(i) or (a)(iiSection 2.08(a)(i) above. Further, and (ii) the Borrower Borrowers shall paypay interest, to the fullest extent permitted by law, on the amount of any interest, fee or other amount (other than principal) payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 22.0% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) aboveSection 2.08(a)(i).

Appears in 1 contract

Samples: Term Loan Credit Agreement (Sears Holdings Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i), (a)(ii) or (a)(iia)(iii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i), (a)(ii) or (a)(iia)(iii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Columbia Energy Group

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance (other than a Competitive Bid Advance) owing to each LenderLender by such Borrower, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above 36 31 the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Prime Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Paxar Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default (or, in the case of any involuntary proceeding described in Section 8.01(f), a Default), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (TBS International LTD)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the unpaid and overdue principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by lawApplicable Law, the amount of any interest, fee or other amount payable by the Borrower hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.. 41 WPPC Credit Agreement

Appears in 1 contract

Samples: Credit Agreement (Allegheny Energy, Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, Default the Borrower applicable Borrowers under each Revolving Credit Facility shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance and Swing Line Advance owing to each LenderLender (whether or not due), payable in arrears on the dates referred to in clause (a)(ia) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(ia) or (a)(ii) above, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances in the same currency in which such overdue amount is denominated pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Senior Secured Revolving Facilities Credit Agreement (Chemtura CORP)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each LenderLender (except as otherwise provided in Section 2.04(e)), payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Warnaco Group Inc /De/)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault the Borrowers shall jointly and severally pay interest, the Borrower shall pay interest after as well as before judgment, on (i) the unpaid principal amount of each Revolving Advance (which shall include any Letter of Credit Advance and any Canadian BA Rate Advance) owing to each Lender, payable in arrears on the dates referred to in clause (a)(ia) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(ia) or (a)(ii) above, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) aboveabove in the case of amounts due in Dollars and clauses (a)(iii) in the case of amounts due in Canadian Dollars.

Appears in 1 contract

Samples: Credit Agreement (World Color Press Inc.)

Default Interest. (i) Upon the occurrence and during the continuance ---------------- of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 21% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 21% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (International Flavors & Fragrances Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on on: (i) the unpaid principal amount of each Revolving Credit Advance the Loan owing to each Term Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance the Loan pursuant to clause (a)(i) or (a)(ii) above, ; and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances the Loan pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Term Credit Agreement (Telecomunicaciones De Puerto Rico Inc)

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Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each LenderLender (except as otherwise provided in Section 2.03(e)), payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Year Credit Agreement (Warnaco Group Inc /De/)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, at the option of the Agent or on the request of the Required Lenders, the Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance the Term Loan owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(iiSection 2.05(a) above, at a rate per annum equal at all times to 23% per annum above the rate per annum required to be paid on such Revolving Credit Advance the Term Loan pursuant to clause (a)(i) or (a)(iiSection 2.05(a) above. Further, and (ii) the Borrower shall paypay interest, to the fullest extent permitted by law, on the amount of any interest, fee or other amount (other than principal) payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 23% per annum above the rate per annum required to be paid on Base Rate Advances Term Loan pursuant to clause (a)(i) aboveSection 2.05(a).

Appears in 1 contract

Samples: Credit Agreement (Sears Canada Inc.)

Default Interest. (i) Upon the occurrence and during the continuance ---------------- of an Event of Default and at the election of the Required Lenders upon the occurrence and during the continuance of any other Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit the Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(iiii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit the Advance pursuant to clause (a)(i) or (a)(iiii) above, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) abovethe Advance.

Appears in 1 contract

Samples: Credit Agreement (Ein Acquisition Corp)

Default Interest. (i) Upon the occurrence and during failure of the continuance Borrower to make any payment of an Event of Defaultamount under the Loan Documents when such amount is then due, the Borrower shall pay interest (“Default Interest”) on (i) the unpaid principal overdue amount of each Revolving Credit such unpaid Advance owing to each Second Lien Lender, payable in arrears on the dates referred to in clause (a)(iSection 2.07(a) or (a)(ii) aboveand on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) aboveSection 2.07(a), and (ii) the Borrower shall pay, to the fullest extent permitted by applicable law, the overdue amount of any such unpaid interest, fee or other amount payable hereunder that is not paid when dueunder this Agreement or any other Loan Document to any Agent or any Second Lien Lender, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, on Base Rate Advances such Advance pursuant to clause (a)(i) aboveSection 2.07(a).

Appears in 1 contract

Samples: Term Loan Agreement (Berliner Communications Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Pe Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, at the Borrower option of the Agent or on the request of the Required Lenders, the Borrowers shall pay interest on the unpaid principal amount of each Revolving Credit Advance owing to each Lenderthe Term Loan then outstanding, payable in arrears on the dates referred to in clause (a)(i) or (a)(iiSections 2.08(b) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance the outstanding amount of the Term Loan pursuant to clause (a)(i) or (a)(iiSection 2.08(b)(i) above. Further, and (ii) the Borrower Borrowers shall paypay interest, to the fullest extent permitted by law, on the amount of any interest, fee or other amount (other than principal) payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) aboveSection 2.08(b)(i).

Appears in 1 contract

Samples: Second Lien Credit Agreement (Sears Holdings Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance made to it and owing to each AYE Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder under the AYE Loan Documents that is not paid by it when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Aye Credit Agreement (West Penn Power Co)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay to the Administrative Agent for the ratable account of the Lenders interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each LenderAdvance, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above, and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (North Atlantic Energy Corp /Nh)

Default Interest. (i) Upon the occurrence and during the continuance of an any Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i), (a)(ii) or (a)(iib) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i), (a)(ii) or (a)(iib) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable by the Borrower hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i), (a)(ii) or (b) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Beckman Instruments Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default of the type described in Section 6.01(a) or (f) or, at the election of the Administrative Agent and the Required Lenders, upon the occurrence and during the continuance of any other Event of Default, the Borrower Borrowers shall pay interest (both before and after judgment) on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(ia) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(ia) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder under the Loan Documents that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on Base Rate Advances the Advance on which such interest has accrued pursuant to clause (a)(ia) above.

Appears in 1 contract

Samples: Revolving Credit Agreement (Digital Realty Trust, L.P.)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, at the option of the Agent or on the request of the Required Lenders, the Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance and Reimbursement Obligation owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(iiSection 2.08(a) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance or Reimbursement Obligation pursuant to clause (a)(i) or (a)(iiSection 2.08(a) above. Further, and (ii) the Borrower shall paypay interest, to the fullest extent permitted by law, on the amount of any interest, fee or other amount (other than principal) payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to (i) with respect to amounts payable in Canadian Dollars, 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause Section 2.08(a)(i), and (a)(iii) abovewith respect to amounts payable in Dollars, 2% per annum above the rate per annum required to be paid on Prime Rate Advances pursuant to Section 2.08(a)(iii).

Appears in 1 contract

Samples: Credit Agreement (Sears Canada Inc.)

Default Interest. (i) Upon the occurrence and during the continuance of ---------------- an Event of DefaultDefault under Section 6.01(a) or Section 6.01(e), the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance made to it and owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Year Credit Agreement (Sprint Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, subject to Law, the Borrower Borrowers shall pay interest on their respective obligations in respect of the Credit Facilities (“Default Interest”) on (i) the unpaid principal amount of each Revolving Credit Advance owing Accommodation Outstanding to each Lender, payable in arrears on the dates referred to in clause (a)(i1) or (a)(ii2) above, as applicable, and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i1) or (a)(ii2) above, as applicable, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder under this Agreement or any other Credit Document to the Administrative Agent or any Lender that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, and, in all other cases, on Base Rate ABR Advances pursuant to clause (a)(i1) above.

Appears in 1 contract

Samples: Credit Agreement (Open Text Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Defaulta Default under Section 6.01(a) or (f), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder under the Loan Documents that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, 44 39 payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Pacificare Health Systems Inc /De/)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the each Borrower shall pay interest on (i) to the fullest extent permitted by law, the unpaid principal amount of each Revolving Credit Regular Advance made to such Borrower and owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that which is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Imc Global Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a) or (e), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i), (a)(ii) or (a)(iia)(iii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i), (a)(ii) or (a)(iia)(iii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be 44 91839933_4 paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Invesco Ltd.)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault and the request of the Required Lenders, the Borrower interest shall pay interest accrue on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder under the Loan Documents that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Term Loan Agreement (Dresser Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each LenderLender by such Borrower, payable in arrears on the dates referred to in clause (a)(ia), (b)(i) or (a)(iib)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(ia), (b)(i) or (a)(iib)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a), (b)(i) or (b)(ii) above, and, in all other cases, on Base Rate Advances pursuant to clause (a)(ib)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Amdocs LTD)

Default Interest. (i) Upon the occurrence and during the continuance of an Event either of Default(a) a Payment Default or (b) the making of any Distribution by the Company during any Fiscal Quarter in respect of which the Company does not pay cash interest on this Note or has not repaid all amounts added to the principal amount of this Note pursuant to Section 2.01(a), the Borrower Company shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance this Note owing to each Lenderthe Holder, payable in arrears on the dates referred to in clause (a)(iSection 2.01(a) or (a)(iib) aboveabove and on demand, at a rate per annum equal at all times to 25% per annum above the rate per annum required to be paid on such Revolving Credit Advance principal amount pursuant to clause (a)(iSection 2.01(a) or (a)(iib) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount interest payable hereunder under this Note that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 25% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause Section 2.01(a) or (a)(ib) aboveabove ("Default Interest").

Appears in 1 contract

Samples: Txu Corp /Tx/

Default Interest. (i) Upon the occurrence and during the continuance of an Event of a Default, the Borrower Issuer shall pay interest on the unpaid principal amount of each Revolving Credit Advance Note owing to each LenderNote Purchaser, payable in arrears on the dates referred to in clause subsection (a)(ia) or (a)(ii) aboveof this Section 2.03 and on demand, at a rate per annum equal at all times to 22.0% per annum above the rate per annum required to be paid on such Revolving Credit Advance Note pursuant to clause subsection (a)(ia) or of this Section 2.03 to the fullest extent permitted by law (a)(ii“Default Interest”) above, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder under the Note Purchase Documents that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 22.0% per annum above the rate per annum required to be paid paid, in the case of interest, on Base Rate Advances the Notes on which such interest has accrued pursuant to clause subsection (a)(ia) aboveof this Section 2.03.

Appears in 1 contract

Samples: Note Purchase Agreement (Itc Deltacom Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) aboveabove (“Default Interest”), as the case may be, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Crowley Newco CORP)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Defaulta Default under Section 6.01(a) or 6.01(f), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above, and, in all other cases, on Alternate Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Desa Holdings Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance and each Letter of Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(iSection 2.08(a)(i) or (a)(ii) above2.08(a)(ii), at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(iSection 2.08(a)(i) or (a)(ii2.08(a)(ii) above, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) aboveSection 2.08(a)(i).

Appears in 1 contract

Samples: Credit Agreement (Genuity Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.1(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance Term Loan owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance Term Loan pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances Loan pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Term Loan Agreement (Applera Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(c) with respect to any covenant contained in Section 5.04 or under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(ia) or (a)(ii) aboveof this Section 2.07 and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(ia) or (a)(ii) above, of this Section 2.07 and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on Base Rate Advances the Type of Advance on which such interest has accrued pursuant to clause (a)(ia) aboveof this Section 2.07.

Appears in 1 contract

Samples: Credit Agreement (Massic Tool Mold & Die Inc)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) aboveabove ("Default Interest"), as the case may be, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Crowley Maritime Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance and Competitive Bid Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder or under any Note that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Mirant Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of DefaultDefault under Section 6.01(a) or (e), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i), (a)(ii) or (a)(iia)(iii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i), (a)(ii) or (a)(iia)(iii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Invesco Ltd.)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of a Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing by it to each Lender, payable in arrears on the dates referred to in clause (a)(i), (a)(ii) or (a)(iia)(iii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i), (a)(ii) or (a)(iia)(iii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder under the Loan Documents that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i), (a)(ii) or (a)(iii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (WHX Corp)

Default Interest. The Borrower shall pay interest, (i) Upon upon the occurrence and during the continuance of (x) an Event of DefaultDefault under Section 6.01(a) or (f) or (y) any other Event of Default at the election of the Required Lenders, the Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(ia) or (a)(ii) aboveabove and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(ia) or (a)(ii) above, and (ii) the Borrower shall pay, to the fullest extent permitted by law, on the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: And Guaranty Agreement (Dana Holding Corp)

Default Interest. (i) Upon the occurrence and during the continuance of an Event of Default, at the Borrower option of the Agent or on the request of the Required Lenders, the Borrowers shall pay interest on the unpaid principal amount of each Revolving Credit Advance and Reimbursement Obligation owing to each Lender, payable in arrears on the dates referred to in clause Sections 2.08(a) and (a)(i) or (a)(iib) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance or Reimbursement Obligation pursuant to clause (a)(i) or (a)(iiSection 2.08(a) above. Further, and (ii) the Borrower Borrowers shall paypay interest, to the fullest extent permitted by law, on the amount of any interest, fee or other amount (other than principal) payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) aboveSection 2.08(a).

Appears in 1 contract

Samples: Intercreditor Agreement (Sears Holdings Corp)

Default Interest. (i) Upon the occurrence and during the ---------------- continuance of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 21% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(i) or (a)(ii) above, above and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 21% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (International Flavors & Fragrances Inc)

Default Interest. (i) Upon the occurrence and during the continuance ---------------- of an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Revolving Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(iSection 2.07(a)(i) or (a)(ii) above2.07(a)(ii), at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Revolving Credit Advance pursuant to clause (a)(iSection 2.07(a)(i) or (a)(ii2.07(a)(ii) above, and (ii) the Borrower shall pay, to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) aboveSection 2.07(a)(i).

Appears in 1 contract

Samples: Credit Agreement (Genuity Inc)

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