Common use of Default Rate of Interest Clause in Contracts

Default Rate of Interest. (i) After the occurrence, and during the continuation, of an Event of Default pursuant to Section 9.1(a), the principal of and, to the extent permitted by Law, interest on the Loans and any other amounts owing hereunder or under the other Loan Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at the Default Rate.

Appears in 25 contracts

Samples: Term Loan Agreement (Public Service Co of New Mexico), Term Loan Agreement (PNM Resources Inc), Term Loan Agreement (Public Service Co of New Mexico)

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Default Rate of Interest. (i) After the occurrence, and during the continuation, of an Event of Default pursuant to Section 9.1(a), the principal of and, to the extent permitted by Law, interest on the Loans and any other amounts owing hereunder or under the other Loan Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at the Default Rate.

Appears in 19 contracts

Samples: Credit Agreement (Public Service Co of New Mexico), Credit Agreement (Public Service Co of New Mexico), Credit Agreement (Texas New Mexico Power Co)

Default Rate of Interest. (i) After the occurrence, and during the continuation, of an Event of Default pursuant to Section 9.1(a), the principal of and, to the extent permitted by Law, interest on the Revolving Loans and any other amounts owing hereunder or under the other Loan Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at the Default Rate.

Appears in 8 contracts

Samples: Credit Agreement (Texas New Mexico Power Co), Credit Agreement (Texas New Mexico Power Co), Credit Agreement (PNM Resources Inc)

Default Rate of Interest. (i) After Upon the occurrence, and during the continuation, of an Event of Default pursuant to Section 9.1(a), the principal of and, to the extent permitted by Lawlaw, interest on the Loans and any other amounts owing hereunder or under the other Loan Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the Default Raterate which would otherwise be applicable (or if no rate is applicable, then the Base Rate plus two percent (2%) per annum).

Appears in 3 contracts

Samples: Interim Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Quest Diagnostics Inc)

Default Rate of Interest. (i) After Upon the occurrence, and during the continuation, of an Event of Default pursuant to Section 9.1(a), the principal of and, to the extent permitted by Lawlaw, interest on the Loans and any other amounts owing hereunder or under the other Loan Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the Default Raterate which would otherwise be applicable (or if no rate is applicable, then the Base Rate plus two percent (2%) per annum).

Appears in 2 contracts

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

Default Rate of Interest. (i) After Upon the occurrence, and during the continuation, of an Event of Default pursuant to Section 9.1(a) and (k), the principal of and, to the extent permitted by Lawlaw, interest on the Loans and any other amounts owing hereunder or under the other Loan Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at a per annum rate equal to 2% plus the Default Raterate which would otherwise be applicable (or if no rate is applicable, then the Base Rate plus two percent (2%) per annum).

Appears in 2 contracts

Samples: Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Quest Diagnostics Inc)

Default Rate of Interest. (i) After Upon the occurrence, and during the continuationcontinuance, of an Event of Default pursuant to Section 9.1(a)Default, the principal of and, to the extent permitted by Lawlaw, interest on the Loans and any other amounts owing hereunder or under the other Loan Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at the Default Rate.

Appears in 1 contract

Samples: Term Loan Agreement (Alabama Power Co)

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Default Rate of Interest. (i) After the occurrence, and during the continuation, of an Event of Default pursuant to Section 9.1(a)Default, the principal of and, to the extent permitted by Law, interest on the Loans and any other amounts owing hereunder or under the other Loan Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at the Default Rate.

Appears in 1 contract

Samples: Credit Agreement (Orthodontic Centers of America Inc /De/)

Default Rate of Interest. (i) After the occurrence, and during the continuation, of an Event of Default pursuant to Section 9.1(a8.1(a), the principal of and, to the extent permitted by Law, interest on the Term Loans and any other amounts owing hereunder or under the other Loan Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at the Default Rate.

Appears in 1 contract

Samples: Term Loan Agreement (PNM Resources Inc)

Default Rate of Interest. (i) After the occurrence, and during the continuation, of an Event of Default pursuant to Section 9.1(a), the principal of and, to the extent permitted by Law, interest on the Loans and any other amounts owing hereunder or under the other Loan Credit Documents (including including, without limitation limitation, fees and expenses) shall bear interest, payable on demand, at the Default Rate.

Appears in 1 contract

Samples: Lease (Public Service Co of New Mexico)

Default Rate of Interest. (i) After Upon the occurrence, and during the continuationcontinuance, of an Event of Default pursuant to Section 9.1(a)Default, the principal of and, to the extent permitted by Lawlaw, interest on the Loans and any other amounts owing hereunder or under the other Loan Credit Documents (including without limitation fees and expenses) shall bear interest, payable on demand, at the Default Rate.a

Appears in 1 contract

Samples: Credit Agreement (Maxim Group Inc /)

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