Common use of Default Interest Clause in Contracts

Default Interest. Upon the occurrence and during the continuance of any Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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 34 contracts

Samples: Credit Agreement (American Campus Communities Inc), Credit Agreement (American Campus Communities Inc), Term Loan Agreement (Hersha Hospitality Trust)

AutoNDA by SimpleDocs

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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 16 contracts

Samples: Credit Agreement (Steel Dynamics Inc), Credit Agreement (Steel Dynamics Inc), Credit Agreement (Steel Dynamics Inc)

Default Interest. Upon the occurrence and during the continuance of any a Default under Section 6.01(a) or 6.01(f) or an Event of Default, the Administrative Agent may, and upon the request of the Required Lenders shall, require that the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each LenderLender Party, payable in arrears on the dates referred to in clause (a)(ii) or (a)(iiii) above of Section 2.07(a), 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 Advance pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and (ii) to the fullest extent permitted by applicable law, the amount of any interest, fee or other amount payable under the this Agreement or any other Loan Documents Document to any Agent or any Lender Party 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, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and, in all other cases, on Base Rate Advances pursuant to clause (a)(ii) aboveof Section 2.07(a).

Appears in 5 contracts

Samples: Credit Agreement (Davita Inc), Credit Agreement (Davita Inc), Credit Agreement (Davita Inc)

Default Interest. Upon (a) (i) If the Borrower fails to pay any principal of, or any interest on, the Loan, or make any other payment of other amounts under this Agreement or any Loan Document, in each case, when the same becomes due and payable or (ii) upon the occurrence and during the continuance of any Event of Default, the Lender may require the Borrower shall to pay interest ("Default Interest") on (ix) the unpaid principal amount of each Advance the Loan owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above Lender and (iiy) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents hereunder, in each case, 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, in the case of interest, paid on the Type outstanding amount of Advance on which such interest has accrued the Loan pursuant to clause (a)(i) or (a)(ii) above andSection 2.04 above; provided, in all other caseshowever, on Base Rate Advances that following acceleration of the Loan pursuant to clause (a)(i) aboveSection 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Lender.

Appears in 5 contracts

Samples: Credit Agreement (Hut 8 Corp.), Credit Agreement (Hut 8 Corp.), Credit Agreement (Hut 8 Corp.)

Default Interest. Upon the occurrence and during the continuance existence of an Event of Default under Section 6.01(a) or 6.01(f) or at the request of the Required Lenders during the existence of any other Event of Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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 4 contracts

Samples: Credit Agreement (Ace LTD), Assignment and Assumption Agreement (Ace LTD), Credit Agreement (Ace LTD)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, subject to Law, the Borrower Borrowers shall pay interest on their respective obligations in respect of the Revolving Credit Facility (“Default Interest”) on (i) the unpaid principal amount of each Advance owing Accommodation Outstanding to each Lender, payable in arrears on the dates referred to in clause (a)(i1) or (a)(ii2) above 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 Advance pursuant to clause (a)(i1) or (a)(ii2) above above, as applicable, and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under this Agreement or any other Credit Document to the Loan Documents 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, 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 ABR Advances pursuant to clause (a)(i1) above.

Appears in 4 contracts

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

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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 22.0% per annum above the rate per annum required to be 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 4 contracts

Samples: Credit Agreement (Steel Dynamics Inc), Credit Agreement (Steel Dynamics Inc), Credit Agreement (Steel Dynamics Inc)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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 4 contracts

Samples: Credit Agreement (Stage Stores Inc), Credit Agreement (Alliance Resource Partners Lp), Security Agreement (Stage Stores Inc)

Default Interest. 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 (which interest shall be payable both before and after the Administrative Agent has obtained a judgment with respect to the Facility) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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 4 contracts

Samples: Term Loan Agreement (Digital Realty Trust, L.P.), Term Loan Agreement (Digital Realty Trust, L.P.), Global Senior Credit Agreement (Digital Realty Trust, L.P.)

Default Interest. Upon the occurrence and during the continuance ---------------- of any a Default under Section 7.01(a) or 7.01(f) or an Event of Default, the Borrower Borrowers shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lenderof the Lenders, payable in arrears on the dates referred to in clause (a)(ii) or (a)(iiii) above of Section 2.06(a), 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 Advance pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.06(a), as applicable, and (ii) to the fullest extent permitted by applicable law, the amount of any interest, fee or other amount payable under this Agreement or any of the other 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, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.06(a), as applicable, and, in all other cases, on Base Rate Advances pursuant to clause (a)(ii) aboveof Section 2.06(a).

Appears in 3 contracts

Samples: Credit Agreement (Fox Kids Worldwide Inc), Credit Agreement (Fox Television Stations Inc /De/), Credit Agreement (Fox Television Stations Inc /De/)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 above, and, in all other cases, on Base Prime Rate Advances pursuant to clause (a)(i) above.

Appears in 3 contracts

Samples: Credit Agreement (Shoneys Inc), Credit Agreement (Shoneys Inc), Credit Agreement (Shoneys Inc)

Default Interest. Upon the occurrence and during the continuance (i) With respect to any principal amount of any Event of DefaultAdvance not paid when due by the Borrower (whether at the stated maturity, by acceleration or otherwise), the Borrower shall pay interest on (i) the such unpaid principal amount of each Advance owing to each Lenderamount, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) with respect to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents that is hereunder not paid when duedue (whether at the stated maturity, by acceleration or otherwise) the Borrower shall pay interest on such amount to the fullest extent permitted by law 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, 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 above, and, in all other cases, on Base Prime Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Credit Agreement (Private Business Inc), Credit Agreement (Mosler Inc)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by lawApplicable Law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 (Allegheny Energy Supply Co LLC), Credit Agreement (Allegheny Energy Supply Co LLC)

Default Interest. Upon the occurrence and during the continuance of any an Event of DefaultDefault under Section 6.01(a), the each Borrower shall pay interest on (i) the unpaid principal amount of each Advance (other than a Competitive Bid Advance) owing by such Borrower to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above and on demandabove, at a rate per annum equal at all times to 21.00% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above (or, if applicable, the proviso to Section 2.09(b) below) and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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 21.00% per annum above the rate per annum required to be 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, paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Five Year Credit Agreement (Coca-Cola Enterprises, Inc.), Year Credit Agreement (International CCE Inc.)

Default Interest. Upon the occurrence and during the continuance existence of an Event of Default under Section 6.01(a) or 6.01(g) or at the request of the Required Lenders during the existence of any other Event of Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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 (Ace LTD), Credit Agreement (Ace LTD)

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 above, and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 2 contracts

Samples: Credit Agreement (Amf Bowling Inc), Credit Agreement (Amf Bowling Inc)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the each Borrower shall pay interest on (i) the unpaid and overdue principal amount of each 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 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by lawApplicable Law, the amount of any interest, fee or other amount payable by such Borrower under the 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, 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: Assignment and Assumption Agreement (Allegheny Energy, Inc), Credit Agreement (Allegheny Energy, Inc)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each LenderLender Party, payable in arrears on the dates referred to in clause (a)(ii) or (a)(iiii) above of Section 2.07(a), 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 Advance pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and (ii) to the fullest extent permitted by applicable law, the amount of any interest, fee or other amount payable under the this Agreement or any other Loan Documents Document to any Agent or any Lender Party 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, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and, in all other cases, on Base Rate Advances pursuant to clause (a)(ii) aboveof Section 2.07(a).

Appears in 2 contracts

Samples: Credit Agreement (Ntelos Holdings Corp), Credit Agreement (Ntelos Holdings Corp)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower Borrowers shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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 (Microage Inc /De/), Microage Inc /De/

Default Interest. Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a) or (f), or upon receipt by the Loan Parties of notice from the Administrative Agent as to any other Event of Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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 (McDermott International Inc)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, Default the Borrower shall pay interest ("DEFAULT INTEREST") on (i) the unpaid principal amount of each Advance owing to each LenderLender Party, payable in arrears on the dates referred to in clause (a)(ii) or (a)(iiii) above and on demandof Section 2.07(a), as applicable, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and (ii) to the fullest extent permitted by applicable law, the amount of any interest, fee or other amount payable under the this Agreement or any other Loan Documents Document to any Agent or any Lender Party 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, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and, in all other cases, on Base Rate Advances under the Revolving Credit Facility pursuant to clause (a)(ii) aboveof Section 2.07(a).

Appears in 1 contract

Samples: Senior Revolving Credit Agreement (Adams Respiratory Therapeutics, Inc.)

Default Interest. Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent may, and upon the request of the Required Lenders shall, require that the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 above, and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Mediq Inc)

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, in the case of interest, on the Type of Advance on which 89 59 such interest has accrued pursuant to clause (a)(i) or (a)(ii) above above, and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Amf Group Inc)

Default Interest. Upon the occurrence and during the ---------------- continuance of any a Default under Section 6.01(a) or 6.01(f) or an Event of Default, the Administrative Agent may, and upon the request of the Required Lenders shall, require that the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each LenderLender Party, payable in arrears on the dates referred to in clause (a)(ii) or (a)(iiii) above of Section 2.07(a), 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 Advance pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and (ii) to the fullest extent permitted by applicable law, the amount of any interest, fee or other amount payable under the this Agreement or any other Loan Documents Document to any Agent or any Lender Party 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, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and, in all other cases, on Base Rate Advances pursuant to clause (a)(ii) aboveof Section 2.07(a).

Appears in 1 contract

Samples: Credit Agreement (Tri City Dialysis Center Inc)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, in the case of interest, on the Type of Advance on which such interest Alliance Credit Agreement 42 42 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 (Alliance Resource Partners Lp)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each LenderLender Party, payable in arrears on the dates referred to in clause (a)(ii) or (a)(iiii) above of Section 2.07(a), 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 Advance pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and (ii) to the fullest extent permitted by applicable law, the amount of any interest, fee or other amount payable under the this Agreement or any other Loan Documents Document to any Agent or any Lender Party 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, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) aboveSection 2.07(a)(i).

Appears in 1 contract

Samples: Credit Agreement (Americhoice Corp)

Default Interest. Upon the occurrence and during the continuance of any Event of Default, the Borrower shall pay interest (“Default Interest”) on (i) the unpaid principal amount of each the Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above and on demandabove, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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: First Lien Credit Agreement (U S Energy Systems Inc)

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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 above, and, in all other cases, on Alternate Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Afa Products Inc)

Default Interest. Upon the occurrence and during the continuance of any 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 Advance owing Accommodation Outstanding to each Lender, payable in arrears on the dates referred to in clause (a)(i1) or (a)(ii2) above 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 Advance pursuant to clause (a)(i1) or (a)(ii2) above above, as applicable, and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under this Agreement or any other Credit Document to the Loan Documents 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, 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)(i1) above.

Appears in 1 contract

Samples: Credit Agreement (Open Text Corp)

Default Interest. Upon the occurrence and during the continuance of any Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance Loan owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance Loan pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, in the case of interest, on the Type of Advance Loan on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above and, in all other cases, on Base Rate Advances Loans pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Secured Term Loan Agreement (American Campus Communities Inc)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each LenderRefinancing Lender Party, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by lawApplicable Law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 (Allegheny Energy Supply Co LLC)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 above, and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (East Coast Power LLC)

Default Interest. Upon the occurrence and during the continuance of any an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay interest on (i) the unpaid principal amount of each Advance (excluding Competitive Bid Advances) owing to each Lender, payable in arrears on the dates referred to in clause (a)(i), (a)(ii) or (a)(iia)(iii) above and on demandabove, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i), (a)(ii) or (a)(iia)(iii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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, paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Columbia Energy Group)

Default Interest. Upon the occurrence and during the continuance of any Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above and on demand, at a rate per annum equal at all times to two percent (2% %) per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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 two percent (2% %) per annum above the rate per annum required to be 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)(ia)(ii) above.

Appears in 1 contract

Samples: Credit Agreement (American Campus Communities Operating Partnership LP)

Default Interest. Upon the occurrence and during the continuance of any an Event of DefaultDefault under Section 6.01(a), the Borrower shall pay simple interest on (i) the unpaid principal amount of each Advance (excluding Competitive Bid Advances) owing to each Lender, payable in arrears on the dates referred to in clause (a)(i), (a)(ii) or (a)(iia)(iii) above and on demandabove, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i), (a)(ii) or (a)(iia)(iii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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, paid on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Columbia Gas System Inc)

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above and on demand, at a rate per annum equal at all times to two percent (2% %) per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents hereunder that is not paid when duedue (whether at the stated maturity, by acceleration or otherwise), 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 percent (2% %) per annum above the rate per annum required to be 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 above, and, in all other cases, on Base Prime Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Moran Transportation Co)

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the Borrower Borrowers shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(iia) above 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 Advance pursuant to clause (a)(i) or (a)(iia) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents hereunder that is not paid when duedue (whether at the stated maturity, by acceleration or otherwise), 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, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(ia) or (a)(ii) above above, and, in all other cases, on Base Prime Rate Advances pursuant to clause (a)(ia) above.

Appears in 1 contract

Samples: Credit Agreement (Mediabay Inc)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Advance made to such Borrower and owing to each Lender, payable in Dollars or the applicable Foreign Currency, as the case may be, in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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 Dollars or the applicable Foreign Currency, as the case may be, 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, 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 above, and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Uniroyal Chemical Co Inc)

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, in the case of interest, on the Type type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above above, and, in all other cases, on Base Prime Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Columbus McKinnon Corp)

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the Borrower Issuer shall pay interest on (i) the unpaid principal amount of each Advance Note owing to each LenderPurchaser, payable in arrears on the dates referred to in clause subsection (a)(ia) or (a)(ii) above of 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 Advance Note pursuant to clause subsection (a)(ia) or (a)(ii) above of this Section 2.03 to the fullest extent permitted by law and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan 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, in the case of interest, on the Type of Advance Notes on which such interest has accrued pursuant to clause subsection (a)(ia) or (a)(ii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) aboveof this Section 2.03.

Appears in 1 contract

Samples: Securities Purchase Agreement (Itc Deltacom Inc)

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Working Capital Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(ii) or (a)(iiii) above of Section 2.06(a), 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 Working Capital Advance pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.06(a), as applicable, and (ii) to the fullest extent permitted by applicable law, the amount of any interest, fee or other amount payable under the this Agreement or any other Loan Documents Document to any 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, in the case of interest, on the Type of Working Capital Advance on which such interest has accrued pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.06(a), as applicable, and, in all other cases, on Base Rate Advances pursuant to clause (a)(ii) aboveof Section 2.06(a).

Appears in 1 contract

Samples: Security Agreement (Med E America Corp)

Default Interest. Upon the occurrence and during the continuance of any 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 Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i), (a)(ii) or (a)(iia)(iii) above 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 Advance pursuant to clause (a)(i), (a)(ii) or (a)(iia)(iii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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 63 58 times to 2% per annum above the rate per annum required to be 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)(iia)(iii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.. (c)

Appears in 1 contract

Samples: Credit Agreement (Dresser Inc)

Default Interest. Upon the occurrence and during the continuance of a payment or bankruptcy Default or any Event of Default, the each Borrower shall jointly and severally pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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 (Icg Holdings Inc)

Default Interest. Upon the occurrence and during the continuance of a payment or bankruptcy Default or any Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Term Advance owing to each Lender, payable in arrears monthly on the dates referred to in clause (a)(i) or (a)(ii) above last day of each month 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 Term Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, in the case of interest, on the Type of Term 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: Security Agreement (Icg Communications Inc /De/)

Default Interest. Upon the occurrence and during the continuance of any a Default under Section 6.01(a) or 6.01(f), or upon the occurrence and during the continuance of an Event of Default, the Borrower Borrowers shall be required to pay interest ("Default Interest") on (i) the unpaid principal amount of each Advance owing to each LenderLender Party, payable in arrears on the dates referred to in clause (a)(ii) or (a)(iiii) above of Section 2.07(a), 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 Advance pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and (ii) to the fullest extent permitted by applicable law, the amount of any interest, fee or other amount payable under the this Agreement or any other Loan Documents Document to any Agent or any Lender Party 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, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and, in all other cases, on Base Rate Advances pursuant to clause (a)(ii) aboveof Section 2.07(a).

Appears in 1 contract

Samples: Credit Agreement (Alpharma Inc)

Default Interest. Upon the occurrence and during the continuance ---------------- of any an Event of Default, the Borrower shall shall, at the request of the Required Lenders, pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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 (CFW Communications Co)

Default Interest. Upon the occurrence and during the continuance of any Event a Default under paragraph (a) or (f) of DefaultArticle V, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each LenderLoan, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above and on demandabove, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance Loan pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, in the case of interest, on the Type of Advance Loan on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above above, and, in all other cases, on Base Rate Advances Loans pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (American Safety Razor Co)

Default Interest. Upon the occurrence and during the continuance ---------------- of any Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, in the case of interest, on the Type type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above above, and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Channell Commercial Corp)

AutoNDA by SimpleDocs

Default Interest. Upon the occurrence and during the continuance of any Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents AMERICAS/2023134647.11 47 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, 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 (Hersha Hospitality Trust)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Springdale Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by lawApplicable Law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 Springdale Facility (Allegheny Energy Supply Co LLC)

Default Interest. Upon the occurrence and during the continuance of any ---------------- an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each LenderLender Party, payable in arrears on the dates referred to in clause (a)(ii), (ii) or (a)(iiiii) above of Section 2.07(a), 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 Advance pursuant to clause (a)(ii), (ii) or (a)(iiiii) above of Section 2.07(a), as applicable, and (ii) to the fullest extent permitted by applicable law, the amount of any interest, fee or other amount payable under the this Agreement or any other Loan Documents Document to any Agent or any Lender Party 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, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(ii), (ii) or (a)(iiiii) above of Section 2.07(a), as applicable, and, in all other cases, on Base Rate Advances pursuant to clause (a)(ii) aboveof Section 2.07(a).

Appears in 1 contract

Samples: Credit Agreement (Levi Strauss & Co)

Default Interest. Upon the occurrence and during the continuance of any 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 Advance owing to each LenderLender Party, payable in arrears on the dates referred to in clause (a)(ii) or (a)(iiii) above of Section 2.07(a), 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 Advance pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and (ii) to the fullest extent permitted by under applicable law, the amount of any interest, fee or other amount payable under this Agreement or any of the other Loan Documents to any of the Agents or any of the Lender Parties 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, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.07(a), as applicable, and, in all other cases, on Base Rate Advances pursuant to clause (a)(ii) aboveof Section 2.07(a).

Appears in 1 contract

Samples: Credit Agreement (Medpartners Inc)

Default Interest. Upon any failure by the occurrence and during the continuance Company to make any payment hereunder or under any Letter of any Event of DefaultCredit Advance Note, the Borrower Company shall pay interest on (i) the unpaid principal amount of each Letter of Credit Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above and on demandabove, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Letter of Credit Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder or under the Loan Documents any Letter of Credit Advance 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 full in arrears on the any date any 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 then required to be paid, in the case of interest, on the Type of Letter of Credit Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above and, in all other cases, on Base Eurodollar Rate Advances pursuant to clause (a)(ia)(ii) aboveabove (such rate of interest, the "Default Rate").

Appears in 1 contract

Samples: Execution (Perez Companc Sa)

Default Interest. Upon the occurrence and during the continuance of any Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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.. Great Wolf Senior Secured Revolving Credit Facility

Appears in 1 contract

Samples: Revolving Credit Agreement (Great Wolf Resorts, Inc.)

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the each Applicable Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing by such Applicable Borrower to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable by such Applicable Borrower 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, 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 (Tanner Chemicals Inc)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(ii) or (a)(iiii) above of Section 2.05(a), 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 Advance pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.05(a), as applicable, and (ii) to the fullest extent permitted by applicable law, the amount of any interest, fee or other amount payable under the this Agreement or any other Loan Documents Document to any 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, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(ii) or (a)(iiii) above of Section 2.05(a), as applicable, and, in all other cases, on Base Rate Advances pursuant to clause (a)(ii) aboveof Section 2.05(a).

Appears in 1 contract

Samples: Credit Agreement (Ntelos Holdings Corp)

Default Interest. Upon the occurrence and during the ________________ continuance of any an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 above, and, in all other cases, on Base Prime Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Cdsi Acquisition Corp)

Default Interest. Upon the occurrence and during the continuance of any Event of Defaulta Default under Section 5.01(a) or 5.01(f), the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each LenderLoan, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above and on demandabove, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance Loan pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, in the case of interest, on the Type of Advance Loan on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above above, and, in all other cases, on Base Rate Advances Loans pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Desa Holdings Corp)

Default Interest. Upon the occurrence and during the continuance existence of an Event of Default under Section 6.01(a) or 6.01(f) or at the request of the Required Lenders during the existence of any other Event of Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Committed Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above and on demandabove, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Committed Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, in the case of interest, on the Type of Committed 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 (Ace LTD)

Default Interest. Upon the occurrence and during the continuance ---------------- of any an Event of Default, the each Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing by such Borrower to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above of 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 Advance pursuant to clause (a)(i) or (a)(ii) above of this Section 2.07 and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 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 1 contract

Samples: Credit Agreement (Ipc Information Systems Inc)

Default Interest. Upon the occurrence and during the continuance of any Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above and on demand, at a rate per annum equal at all times to 22.00% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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 22.00% per annum above the rate per annum required to be 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.has

Appears in 1 contract

Samples: Credit Agreement (Granite Point Mortgage Trust Inc.)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each New Money Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by lawApplicable Law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 (Allegheny Energy Supply Co LLC)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the 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, 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 (Allegheny Energy Inc)

Default Interest. Upon the occurrence and during the continuance existence of an Event of Default under Section 6.01(a) or 6.01(g) or at the request of the Required Lenders during the existence of any other Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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: Term Loan Agreement (Ace LTD)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the each Borrower shall pay interest on (i) the unpaid and overdue principal amount of each 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 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable by such Borrower under the 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, 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 (Allegheny Energy, Inc)

Default Interest. Upon the occurrence and during the continuance ---------------- of any a Default under Section 6.01(a) or an Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, 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: Amf Bowling Worldwide Inc

Default Interest. Upon After the occurrence and during the continuance date any principal amount of any Event Advance is due and payable (whether on the Maturity Date, upon acceleration or otherwise), or after any other monetary Obligation of Defaultthe Borrowers shall have become due and payable, the Borrower Borrowers shall pay pay, but only to the extent permitted by law, interest (after as well as before judgment) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i), (a)(ii) or (a)(iia)(iii) above and on demandabove, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i), (a)(ii) or (a)(iia)(iii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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, paid on Base Rate Advances pursuant to clause (a)(i) aboveabove (in each case, as certified by the Administrative Agent to the Borrowers (which certification shall be conclusive in the absence of manifest error)).

Appears in 1 contract

Samples: Lender Assignment Agreement (Carnival PLC)

Default Interest. Upon the occurrence and during the continuance of any Event of Default, the Borrower Borrowers shall pay interest on (i) the unpaid principal amount of each Term Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Term Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, in the case of interest, on the Type of Term 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 Credit Agreement (FelCor Lodging Trust Inc)

Default Interest. Upon the occurrence and during the continuance of any Event of a ---------------- Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 above, and, in all other cases, on Alternate Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (PHP Healthcare Corp)

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents hereunder that is not paid when duedue (whether at the stated maturity, by acceleration or otherwise), 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, 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 above, and, in all other cases, on Base Prime Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Audio Book Club Inc)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, the Borrower shall pay interest on (i) the unpaid and overdue principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by lawApplicable Law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 (Allegheny Energy, Inc)

Default Interest. Upon the occurrence and during the continuance of any 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 Advance owing Accommodation Outstanding to each Lender, payable in arrears on the dates referred to in clause (a)(i1) or (a)(ii2) above 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 Advance pursuant to clause (a)(i1) or (a)(ii2) above above, as applicable, and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under this Agreement or any other Credit Document to the Loan Documents 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, 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 ABR Advances pursuant to clause (a)(i1) above.. ARTICLE 4

Appears in 1 contract

Samples: Credit Agreement (Open Text Corp)

Default Interest. Upon the occurrence and during the continuance of any 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 Advance owing Accommodation Outstanding to each Lender, payable in arrears on the dates referred to in clause (a)(i1), (2), (3) or (a)(ii4) above 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 Advance pursuant to clause (a)(i1), (2), (3) or (a)(ii4) above above, as applicable, and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under this Agreement or any other Credit Document to the Loan Documents 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, 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 U.S. Base Rate Advances pursuant to clause (a)(i2) above.

Appears in 1 contract

Samples: Credit Agreement (Open Text Corp)

Default Interest. Upon the occurrence and during the continuance ---------------- of any 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 Agent may, and upon the request of the Required Lenders shall, require that the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 (Glenoit Asset Corp)

Default Interest. Upon the occurrence and during the continuance of any an Event of Default, subject to Law, the Borrower Borrowers shall pay interest on their respective obligations in respect of the Revolving Credit Facility (“Default Interest”) on (i) the unpaid principal amount of each Advance owing Accommodation Outstanding to each Lender, payable in arrears on the dates referred to in clause (a)(i1) or (a)(ii2) above 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 Advance pursuant to clause (a)(i1) or (a)(ii2) above above, as applicable, and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under this Agreement or any other Credit Document to the Loan Documents 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, 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 ABR Advances pursuant to clause (a)(i1) above.. Section 3.06

Appears in 1 contract

Samples: Credit Agreement (Open Text Corp)

Default Interest. Upon the occurrence and during the continuance of any Event of Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Term Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Term Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable 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, in the case of interest, on the Type of Term 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 Credit Agreement (Sunstone Hotel Investors, Inc.)

Default Interest. Upon the occurrence and during the continuance of any an Event of DefaultDefault under Section 6.01(a), the each Borrower shall pay interest on (i) the unpaid principal amount of each Advance Syndicated Loan owing by such Borrower to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above and on demandabove, at a rate per annum equal at all times to 21% per annum above the rate per annum required to be paid on such Advance Syndicated Loan pursuant to clause (a)(i) or (a)(ii) above (or, if applicable, the proviso to Section 2.08(b) below) and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, in the case of interest, paid 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 Syndicated Loan pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Coca Cola Enterprises Inc)

Default Interest. Upon the occurrence and during the continuance ---------------- of any Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 above, and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (Amf Bowling Worldwide Inc)

Default Interest. Upon the occurrence and during the continuance of any Event of a Default, the Borrower shall pay interest on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above 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 Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable under the Loan Documents 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, 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 above, and, in all other cases, on Alternate Base Rate Advances pursuant to clause (a)(i) above.

Appears in 1 contract

Samples: Credit Agreement (PHP Healthcare Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.