Common use of Default Rate and Payment Dates Clause in Contracts

Default Rate and Payment Dates. (a) If all or a portion of the principal amount of any Loan which is a Fixed LIBOR Rate Loan shall not be paid when due or continued as a Fixed LIBOR Rate Loan in accordance with the provisions of Section 2.8 (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount of such Loan shall be converted to a Floating LIBOR Rate Loan at the end of the Interest Period applicable thereto. (b) Upon the occurrence, and during the continuance, of any Event of Default hereunder, the principal of and, to the extent permitted by law, interest on the Loans and any other amounts owing hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate which is (A) in the case of principal, the rate that would otherwise be applicable thereto plus 2% or (B) in the case of interest, fees or other amounts, the rate equal to the Floating LIBOR Rate plus the sum of the Applicable Percentage then in effect and 2% (the “Default Rate”) (after as well as before judgment). The Required Lenders shall have the right to revoke the imposition of any default interest imposed under this Section 2.6(b). (c) Interest on each Loan shall be payable in arrears on each Interest Payment Date; provided that interest accruing pursuant to paragraph (a) of this Section 2.6 shall be payable from time to time on demand.

Default Rate and Payment Dates. (ai) If all or a portion of the principal amount of any Loan which is a Fixed LIBOR Rate Loan shall not be paid when due, such overdue amount shall bear interest at a rate per annum which is equal to the Alternate Base Rate plus the sum of the Applicable Percentage and 5.0% (the “ABR Default Rate”) or (ii) if any interest payable on the principal amount of any Loan or any fee or other amount payable hereunder shall not be paid when due or continued as a Fixed LIBOR Rate Loan in accordance with the provisions of Section 2.8 (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount shall bear interest at a rate per annum which is equal to the ABR Default Rate, in each case from the date of such Loan shall be converted to a Floating LIBOR Rate Loan at the end of the Interest Period applicable thereto. non-payment until such amount is paid in full (b) after as well as before judgment). Upon the occurrence, and during the continuance, of any other Event of Default hereunder, at the option of the Required Lenders, the principal of and, to the extent permitted by lawRequirements of Law, interest on the Loans and any other amounts owing hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate which is (A) in the case of principal, the rate that would otherwise be applicable thereto plus 25.0% or (B) in the case of interest, fees or other amounts, the rate equal to the Floating LIBOR ABR Default Rate plus the sum of the Applicable Percentage then in effect and 2% (the “Default Rate”) (after as well as before judgment). The Required Lenders shall have the right to revoke the imposition of any default interest imposed under this Section 2.6(b). (cb) Interest on each Loan shall be payable in arrears on each Interest Payment Date; provided that interest accruing pursuant to paragraph (a) of this Section 2.6 shall be payable from time to time on demand.

Default Rate and Payment Dates. (ai) If all or a portion of the principal amount of any Loan shall not be paid when due, such overdue amount shall bear interest at a rate per annum which is a Fixed LIBOR Rate equal to the rate that would otherwise be applicable thereto plus 2.5% (the "Default Rate"), or (ii) if any interest payable on the principal amount of any Loan or any fee or other amount, including the principal amount of any Loan, payable hereunder shall not be paid when due or continued as a Fixed LIBOR Rate Loan in accordance with the provisions of Section 2.8 (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount shall bear interest at a rate per annum which is equal to the Default Rate, in each case from the date of such Loan shall be converted to a Floating LIBOR Rate Loan at the end of the Interest Period applicable thereto. non-payment until such amount is paid in full (b) after as well as before judgment). Upon the occurrence, and during the continuance, of any other Event of Default hereunder, the principal of and, to the fullest extent permitted by law, interest on the Loans and any other amounts owing hereunder or under the other Credit Loan Documents shall bear interest, payable on demand, at a per annum rate which is (A) in the case of principal, the rate that would otherwise be applicable thereto plus 22.5% or (B) in the case of interest, fees or other amounts, the rate equal to the Floating LIBOR Default Rate plus the sum of the Applicable Percentage then in effect and 2% (the “Default Rate”) (after as well as before judgment). The Required Requisite Lenders shall have the right to revoke the imposition of any default interest imposed under this Section 2.6(b2.04(a). (cb) Interest on each Loan shall be payable in arrears on each Interest Payment Date; provided that interest accruing pursuant to paragraph (a) of this Section 2.6 2.04 shall be payable from time to time on demand.