Default Rate; Post-Maturity Interest Sample Clauses

Default Rate; Post-Maturity Interest. If Borrowers shall fail to make any payment of principal, interest, Yield Maintenance Premiums or any other amount payable by Borrowers under the Note, this Agreement or any other Loan Documents within the grace period provided with respect to such payment under Section 8.1 or, if no grace period is provided, on the date on which such payment is due, whether by acceleration or otherwise, Borrowers shall pay interest at the Default Rate with respect to such amounts and/or with respect to the entire unpaid principal balance of the Loan as provided in the Note. The preceding sentence shall not be construed as an agreement or privilege to extend the date for payment of any such amounts nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of an Event of Default.
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Default Rate; Post-Maturity Interest. Upon the occurrence and during the continuation of an Event of Default, the interest rate payable by Company with respect to principal of Loans and, to the extent permitted by law, interest payments thereon not paid when due, shall be increased, effective from and after the date of occurrence of such Event of Default, to a rate that is two percent (2%) per annum in excess of the rate otherwise payable under this Agreement (or, in the case of fees and other amounts due hereunder, at a rate which is 2.00% per annum in excess of the interest rate otherwise payable pursuant to subsection 2.2A of this Agreement for Base Rate Loans); provided that, in the case of Eurodollar Rate Loans, upon the expiration of the Interest Period in effect at the time any such increase in interest rate is effective, such Eurodollar Rate Loans shall thereupon become Base Rate Loans and thereafter bear interest payable upon demand at a rate which is two percent (2%) per annum in excess of the interest rate otherwise payable under this Agreement for Base Rate Loans. The rate provided in this subsection 2.2E shall be reduced by two percent (2%) per annum to the rate otherwise payable under this Agreement effective upon the cure pursuant to the terms of this Agreement of all Events of Default giving rise to the increase provided herein. No waiver of any Event of Default and no amendment to this Agreement shall operate as a cure of any Event of Default unless expressly stated in writing in such waiver or amendment. The payment or acceptance of the increased rate provided by this subsection 2.2E shall not constitute a waiver of any Event of Default or an amendment to this Agreement or otherwise prejudice or limit any rights or remedies of any Agent or any Lender.
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Default Rate; Post-Maturity Interest. If Borrower shall default in the payment of principal of or interest on the Loans, or any fees or other amounts owed by Borrower under this Agreement or any other Loan Documents shall not be paid when due, then the outstanding principal amount of the Loans and, to the extent permitted by applicable law, any interest payments thereon not paid when due and any fees and other amounts then due and payable under this Agreement or any other Loan Document shall thereafter bear interest (including post-petition interest in any proceeding under the Bankruptcy Code or any other now existing or future applicable bankruptcy, insolvency or other similar laws) payable upon demand at the Default Rate. Payment or acceptance of the increased rates provided for in this subsection is not a permitted alternative to timely payment and shall not constitute a waiver of any Default or Event of Default or an amendment to this Agreement or any other Loan Document and shall not otherwise prejudice or limit any rights or remedies of Lenders.
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Default Rate; Post-Maturity Interest. Upon the occurrence of an Event of Default, Lender shall be entitled to receive and Borrower shall pay to Lender interest on the entire outstanding principal balance of the Note and any other amounts due at the Default Rate, provided, however, with respect to an Event of Default relating to the late payment of interest under the Note, interest on the Loan shall accrue at the Default Rate on a retroactive basis from and after the date that said late payment was due (that is, without regard to the grace period provided for such Event of Default). Interest at the Default Rate shall be computed from the occurrence of the Event of Default until the earlier of the date upon which all Events of Default are cured or the date of Lender's actual receipt and collection of the Debt (or that portion thereof that is then due). Interest at the Default Rate shall be added to the Debt and shall be secured by the Mortgages. This subsection, however, shall not be construed as an agreement or privilege to extend the date of the payment of the Debt, nor as a waiver of any other right or remedy accruing to Lender by reason of the occurrence of any Event of Default. Section 2.6
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Default Rate; Post-Maturity Interest. If Borrower shall fail to make any payment of principal of or interest on a Mortgage Loan, or any other amount owed under the Loan Documents, due on a scheduled due date, by acceleration or otherwise, and shall not have rendered such payment within five days (5) following such due date, Borrower shall pay interest at the Default Rate upon demand from time to time, to the extent permitted by applicable law, on such defaulted amount from the scheduled due date to the date of payment. Payment or acceptance of the increased interest rate provided for in this subsection is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or an amendment to this Loan Agreement or otherwise prejudice or limit any rights or remedies of Lender hereunder.
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Related to Default Rate; Post-Maturity Interest

  • Post-Maturity Interest Any principal payments on the Loan not paid when due and, to the extent permitted by applicable law, any interest payment on the Loan not paid when due, in each case whether at Stated Maturity, by notice of prepayment, by acceleration or otherwise, shall thereafter bear interest payable upon demand at a rate of interest otherwise payable under this Agreement for the Loan but in no event to exceed the maximum interest rate permitted by applicable law.

  • Interest and Default Rate (a) Subject to the provisions of subsection (b) below, (i) each Eurocurrency Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.

  • Interest After Maturity Any amount of the Loans not paid when due, whether at the date scheduled therefor or earlier upon acceleration, shall bear interest until paid in full at a rate per annum equal to the greater of (i) 2.00% in excess of the rate applicable to the unpaid principal amount immediately before it became due, or (ii) 2.00% in excess of the Base Rate in effect from time to time.

  • Extension of Revolving Credit Maturity Date The Borrower shall have the right and option to extend the Revolving Credit Maturity Date in respect of the Total Revolving Credit Commitment or portion thereof, if reduced in accordance with §2.4, a total of two (2) times for a period of twelve (12) months each upon satisfaction of the following conditions precedent, which must be satisfied prior to the effectiveness of any extension of the Revolving Credit Maturity Date:

  • Compounding of default interest Any such interest which is not paid at the end of the period by reference to which it was determined shall thereupon be compounded.

  • Maturity of Loans Each Loan hereunder shall mature, and the principal amount thereof shall be due and payable on the Maturity Date with respect to such Loan.

  • Post-Default Interest Upon the occurrence, and during the continuance, of any Event of Default, the unpaid principal amount of each Advance shall bear interest at a rate per annum equal at all times to 2% per annum above the rate per annum otherwise required to be paid on such Advance in accordance with subsection (a), (b) or (c) above; provided that any amount of principal which is not paid when due (whether at stated maturity, by acceleration or otherwise) shall bear interest, from the date on which such amount is due until such amount is paid in full, payable on demand, at a rate per annum equal at all times to the greater of (x) 2% per annum above the Base Rate in effect from time to time and (y) 2% per annum above the rate per annum required to be paid on such Advance immediately prior to the date on which such amount became due.

  • Extension of Maturity Date (a) On any anniversary of the Closing Date prior to the Maturity Date, the Borrowers may request to extend the then-applicable Maturity Date (the “Existing Maturity Date”) for an additional one-year period (an “Extension Period”) to the date that is one year after the Existing Maturity Date (the “Requested Maturity Date”); provided that the Borrowers may extend the Maturity Date for a maximum two (2) such Extension Periods. The Borrowers may make such request in a notice given as herein provided and substantially in the form attached hereto as Exhibit 2.8(a) (the “Extension of Maturity Date Request”) to the Administrative Agent not less than 30 days and not more than 90 days prior to any anniversary of the Closing Date, so long as (i) each of the representations and warranties contained in Section 7 and in the other Credit Documents shall be true and correct in all material respects on and as of the date of such notice and as of the commencement date of the relevant Extension Period as if made on and as of each date (or, if any such representation and warranty is expressly stated to have been made as of a specific date, as of such specific date) and (ii) no Default or Event of Default shall have occurred and be continuing on the date of such notice and as of the commencement date of the relevant Extension Period. Each Lender, acting in its sole discretion, shall, not later than a date 30 days after its receipt of any such notice from the Administrative Agent, notify the Borrowers and the Administrative Agent in writing of its election to extend or not to extend the Existing Maturity Date with respect to its Commitment. Any Lender which shall not timely notify the Borrowers and the Administrative Agent of its election to extend the Existing Maturity Date shall be deemed not to have elected to extend the Existing Maturity Date with respect to its Commitment (any Lender who timely notifies the Borrowers and the Administrative Agent of an election not to extend or fails to timely notify the Borrowers and the Administrative Agent of its election being referred to as a “Terminating Lender” and all such Lenders, collectively, the “Terminating Lenders”). The election of any Lender to agree to a requested extension shall not obligate any other Lender to agree to such requested extension.

  • Accrual of Interest and Maturity; Evidence of Indebtedness (i) Swing Line Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Borrower to Swing Line Lender resulting from each Swing Line Advance from time to time, including the amount and date of each Swing Line Advance, its Applicable Interest Rate, its Interest Period, if any, and the amount and date of any repayment made on any Swing Line Advance from time to time. The entries made in such account or accounts of Swing Line Lender shall be prima facie evidence, absent manifest error, of the existence and amounts of the obligations of the Borrower therein recorded; provided, however, that the failure of Swing Line Lender to maintain such account, as applicable, or any error therein, shall not in any manner affect the obligation of the Borrower to repay the Swing Line Advances (and all other amounts owing with respect thereto) in accordance with the terms of this Agreement.

  • Post-Default Rate Notwithstanding the foregoing, the Borrower will pay to the Agent, for the account of each Lender interest at the applicable Post-Default Rate on any principal of any Loan made by such Lender, and (to the fullest extent permitted by law) on any other amount payable by the Borrower hereunder, under any Loan Document or under any Note held by such Lender to or for account of such Lender, for the period commencing on the date of an Event of Default until the same is paid in full or all Events of Default are cured or waived.

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