Common use of Default Rate of Interest Clause in Contracts

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any Borrower, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum).

Appears in 22 contracts

Samples: Credit Agreement (Virginia Electric & Power Co), Credit Agreement (Virginia Electric & Power Co), Revolving Credit Agreement (Dominion Resources Inc /Va/)

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Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower Loans, Reimbursement Obligations and any other amounts owing by such the Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Adjusted Base Rate Loans plus 2% per annum).

Appears in 12 contracts

Samples: Credit Agreement (Dominion Resources Inc /Va/), Day Credit Agreement (Consolidated Natural Gas Co/Va), Credit Agreement (Dominion Resources Inc /Va/)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 11 contracts

Samples: Credit Agreement (Abacoa Homes Inc), Credit Agreement (Gerber Childrenswear Inc), Credit Agreement (Integrated Living Communities Inc)

Default Rate of Interest. Upon the occurrence, and during the continuancecontinuation, of an Event of Default with respect to any BorrowerDefault, the all past due principal of and, to the extent permitted by law, past due interest on on, the Loans outstanding to such Borrower and any other past due amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to 2% one percent (1%) plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% one percent (1%) per annum).

Appears in 11 contracts

Samples: Credit Agreement (DCP Midstream Partners, LP), Credit Agreement (Spectra Energy Partners, LP), Credit Agreement (Spectra Energy Partners, LP)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default under Section 10.1(a) with respect to any Borrower, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum).

Appears in 8 contracts

Samples: Revolving Credit Agreement (South Carolina Electric & Gas Co), Revolving Credit Agreement (Virginia Electric & Power Co), Revolving Credit Agreement (Dominion Energy South Carolina, Inc.)

Default Rate of Interest. Upon the occurrence, and during the continuancecontinuation, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum)Default Rate.

Appears in 7 contracts

Samples: Credit Agreement (Baker Hughes Inc), Credit Agreement (Baker Hughes Inc), Credit Agreement (Baker Hughes Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 24% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus 2% four percent (4%) per annum).

Appears in 5 contracts

Samples: Credit Agreement (Chattem Inc), Credit Agreement (Highwoods Properties Inc), Credit Agreement (Highwoods Forsyth L P)

Default Rate of Interest. Upon the occurrence, and during the continuancecontinuation, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 5 contracts

Samples: Revolving Credit Agreement (Polaris Industries Inc/Mn), Day Revolving Credit Agreement (Polaris Industries Inc/Mn), Credit Agreement (Polaris Industries Inc/Mn)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any Borrowerunder Section 10.1(a), the principal of and, to the extent permitted by law, interest on the Loans outstanding to such the Borrower and any other amounts owing by such the Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum).

Appears in 4 contracts

Samples: Revolving Credit Agreement (Dominion Energy, Inc), Revolving Credit Agreement (Dominion Energy, Inc), Day Term Loan Credit Agreement (Dominion Energy, Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower (but not timely paid) hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 4 contracts

Samples: Credit Agreement (Knoll Inc), Credit Agreement (Medical Staffing Network Holdings Inc), Credit Agreement (Knoll Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower (but not timely paid) hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Adjusted Base Rate Loans plus two percent (2% %) per annum).

Appears in 3 contracts

Samples: Credit Agreement (Anchor Holdings Inc), Credit Agreement (Moll Industries Inc), Credit Agreement (Ryans Family Steakhouses Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower (but not timely paid) hereunder or under the other Credit Loan Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are U.S. Base Rate Loans plus two percent (2% %) per annum).

Appears in 3 contracts

Samples: Credit Agreement (Shorewood Packaging Corp), Credit Agreement (Shorewood Packaging Corp), Credit Agreement (Shorewood Packaging Corp)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any Borrower, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower Borrower, Reimbursement Obligations and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum).

Appears in 3 contracts

Samples: Credit Agreement (Consolidated Natural Gas Co/Va), Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Virginia Electric & Power Co)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to two percent (2% %) plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 3 contracts

Samples: Credit Agreement (WPS Resources Corp), Credit Agreement (WPS Resources Corp), Credit Agreement (WPS Resources Corp)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to (i) two percent (2% %) plus the rate which would otherwise be applicable or (or ii) if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% per annum%).

Appears in 3 contracts

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

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to two percent (2% %) plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 3 contracts

Samples: Credit Agreement (Integrys Energy Group, Inc.), Credit Agreement (Wisconsin Public Service Corp), Credit Agreement (Wisconsin Public Service Corp)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then a rate per annum equal to the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum).

Appears in 3 contracts

Samples: Multi Year Credit Agreement (Alabama Power Co), Credit Agreement (Alabama Power Co), Credit Agreement (Southern Power Co)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such the Borrower and any other amounts owing by such the Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such the Borrower that are Base Rate Loans plus 2% per annum).

Appears in 2 contracts

Samples: Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Dominion Resources Inc /Va/)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% four percent (4%) plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Prime Rate Loans plus 2% four percent (4%) per annum).

Appears in 2 contracts

Samples: Promissory Note (Brandywine Realty Trust), Promissory Note (Brandywine Realty Trust)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any Borrowerunder Section 10.1(a), the principal of and, to the extent permitted by law, interest on the Term Loans outstanding to such the Borrower and any other amounts owing by such the Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum).

Appears in 2 contracts

Samples: Day Term Loan Credit Agreement (Dominion Energy Inc /Va/), Day Term Loan Credit Agreement (Dominion Energy Inc /Va/)

Default Rate of Interest. Upon After the occurrence, and during the continuancecontinuation, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by lawLaw, interest on the Revolving Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum)Default Rate.

Appears in 2 contracts

Samples: Credit Agreement (PNM Resources Inc), Credit Agreement (PNM Resources)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 2 contracts

Samples: Credit Agreement (Dispatch Management Services Corp), Credit Agreement (United Dominion Realty Trust Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall at the option of the Required Lenders bear interest, payable on demand, at a per annum rate equal to 2% three percent (3%) plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% three percent (3%) per annum).

Appears in 2 contracts

Samples: Revolving Credit Agreement (Pan Pacific Retail Properties Inc), Revolving Credit Agreement (Pan Pacific Retail Properties Inc)

Default Rate of Interest. Upon the occurrence, and during the continuancecontinuation, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to two percent (2% %) plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 2 contracts

Samples: Revolving Credit Agreement (Atmos Energy Corp), Credit Agreement (Atmos Energy Corp)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any Borrowerunder Section 9.1(a), the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to 22.0% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 22.0% per annum).

Appears in 2 contracts

Samples: Term Loan Agreement, Term Loan Agreement (Dominion Midstream Partners, LP)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Adjusted Base Rate Loans plus two percent (2% %) per annum).

Appears in 2 contracts

Samples: Credit Agreement (Wesco International Inc), Credit Agreement (Chic by H I S Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving-A Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 1 contract

Samples: Credit Agreement (Fruit of the Loom Inc /De/)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans aggregate amount of the outstanding to such Borrower Loan and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 25% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum)Prime Rate.

Appears in 1 contract

Samples: Credit Agreement (Summit Holding Southeast Inc)

Default Rate of Interest. Upon the occurrence, and during the ------------------------ continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 24% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus 2% four percent (4%) per annum).

Appears in 1 contract

Samples: Credit Agreement (Chattem Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower (but not timely paid) hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Adjusted Base Rate Loans plus two percent (2% %) per annum) (the "Default Rate").

Appears in 1 contract

Samples: Credit Agreement (Ryans Restaurant Group Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to two percent (2% %) plus the rate which that would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 1 contract

Samples: Credit Agreement (Wisconsin Energy Corp)

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Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall (including without limitation fees and expenses) shall, after written notice of same to the Borrower, bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum).%

Appears in 1 contract

Samples: Credit Agreement (Ivex Packaging Corp /De/)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then a per annum rate equal to the rate for the Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 1 contract

Samples: Credit Agreement (Mississippi Power Co)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum).

Appears in 1 contract

Samples: Credit Agreement (Chattem Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower Loans, the LOC Obligations and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to two percent (2% %) plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving-A Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 1 contract

Samples: Three Year Credit Agreement (Wisconsin Energy Corp)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any Borrower(unless waived by the Lender), the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum) (the "Default Rate").

Appears in 1 contract

Samples: Credit Agreement (Delta & Pine Land Co)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall (including without limitation fees and expenses) shall, after written notice of same to the Borrower, bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 1 contract

Samples: Credit Agreement (Ivex Packaging Corp /De/)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Loan Documents shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum).

Appears in 1 contract

Samples: Credit Agreement (Fruit of the Loom Inc /De/)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum).four percent

Appears in 1 contract

Samples: Credit Agreement (Brandywine Realty Trust)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Loan Documents shall shall, after written notice of same to the Borrower, bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum).

Appears in 1 contract

Samples: Credit Agreement (Ivex Packaging Corp /De/)

Default Rate of Interest. Upon the occurrence, and during the ------------------------ continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower (but not timely paid) hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 1 contract

Samples: Credit Agreement (Knoll Inc)

Default Rate of Interest. Upon the occurrence, and during the ------------------------ continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Revolving Loans outstanding to such Borrower and any other amounts owing by such Borrower (but not timely paid) hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Adjusted Base Rate Loans plus two percent (2% %) per annum).

Appears in 1 contract

Samples: Credit Agreement (Deltic Timber Corp)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% three percent (3%) plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% three percent (3%) per annum).

Appears in 1 contract

Samples: Revolving Credit Agreement (Pan Pacific Retail Properties Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus 2% per annum).

Appears in 1 contract

Samples: Credit Agreement (Chattem Canada Holdings Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, continuation of an Event of Default with respect pursuant to any BorrowerSection 9.1(a), the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 1 contract

Samples: Term Loan Credit Agreement (Quest Diagnostics Inc)

Default Rate of Interest. Upon the occurrence, and during the ------------------------ continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Term Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 24% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus 2% four percent (4%) per annum).

Appears in 1 contract

Samples: Credit Agreement (Chattem Inc)

Default Rate of Interest. Upon the occurrence, and during the continuancecontinuation, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to two percent (2% %) plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Bridge Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 1 contract

Samples: Bridge Credit Agreement (Atmos Energy Corp)

Default Rate of Interest. Upon the occurrence, and during the continuance------------------------ continuation, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents shall bear interest, payable on demand, at a per annum rate equal to two percent (2% %) plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus two percent (2% %) per annum).

Appears in 1 contract

Samples: Credit Agreement (Atmos Energy Corp)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% four percent (4%) plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base shall be the Prime Rate Loans plus 2% four percent (4%) per annum).

Appears in 1 contract

Samples: Credit Agreement (Cornerstone Realty Income Trust Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 24% plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Revolving Loans outstanding to such Borrower that are Base Rate Loans plus 2% four percent (4%) per annum).. (c)

Appears in 1 contract

Samples: Credit Agreement (Chattem Inc)

Default Rate of Interest. Upon the occurrence, and during the continuance, of an Event of Default with respect to any BorrowerDefault, the principal of and, to the extent permitted by law, interest on the Term Loans outstanding to such Borrower and any other amounts owing by such Borrower hereunder or under the other Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% three percent (3%) plus the rate which would otherwise be applicable (or if no rate is applicable, then the rate for Loans outstanding to such Borrower that are Base Rate Loans plus 2% three percent (3%) per annum).

Appears in 1 contract

Samples: Term Credit Agreement (Pan Pacific Retail Properties Inc)

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