Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 81 contracts
Samples: Loan and Security Agreement (Nanosphere Inc), Loan and Security Agreement (Relypsa Inc), Loan and Security Agreement (CymaBay Therapeutics, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed floating per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 75 contracts
Samples: Loan and Security Agreement (Acelrx Pharmaceuticals Inc), Loan and Security Agreement (Kala Pharmaceuticals, Inc.), Loan and Security Agreement (Immunocore LTD)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 24 contracts
Samples: Loan and Security Agreement (Document Sciences Corp), Loan and Security Agreement (Active Power Inc), Loan and Security Agreement (Force10 Networks Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 19 contracts
Samples: Loan and Security Agreement (Isotis Inc), Loan and Security Agreement (Rae Systems Inc), Loan and Security Agreement (Sonic Foundry Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points (5.00%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 15 contracts
Samples: Loan and Security Agreement (SafeStitch Medical, Inc.), Loan and Security Agreement (Sophiris Bio Inc.), Loan and Security Agreement (Supernus Pharmaceuticals Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, all Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 15 contracts
Samples: Loan and Security Agreement (Radius Health, Inc.), Loan and Security Agreement (scPharmaceuticals Inc.), Loan and Security Agreement (Neuronetics, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points above the rate that which is otherwise applicable thereto plus five percentage points (5.00%) to the Obligations (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 10 contracts
Samples: Loan Modification Agreement (Meru Networks Inc), Loan and Security Agreement (Cardiovascular Systems Inc), Loan and Security Agreement (Ocz Technology Group Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 8 contracts
Samples: Loan and Security Agreement (Luca Technologies Inc), Loan and Security Agreement (BG Medicine, Inc.), Loan and Security Agreement (Cyoptics Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to that is five percent (5.0%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.3(c) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentAgent or Lenders.
Appears in 7 contracts
Samples: Loan and Security Agreement (Epicept Corp), Loan and Security Agreement (Bacterin International Holdings, Inc.), Loan and Security Agreement (Kalobios Pharmaceuticals Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentLender.
Appears in 7 contracts
Samples: Loan and Security Agreement (Bluearc Corp), Loan and Security Agreement (Cerus Corp), Loan and Security Agreement (Complete Genomics Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate effective immediately before the Event of Default (the “"Default Rate”"). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 6 contracts
Samples: Loan and Security Agreement (Lantronix Inc), Loan and Security Agreement (Cardionet Inc), Loan and Security Agreement (ExactTarget, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, all Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five four percentage points (5.004.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 6 contracts
Samples: Loan and Security Agreement (Rubius Therapeutics, Inc.), Loan and Security Agreement (Arcutis Biotherapeutics, Inc.), Loan and Security Agreement (Achaogen Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate effective immediately before the occurrence of the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 5 contracts
Samples: Loan and Security Agreement (Stereotaxis, Inc.), Export Import Bank Loan and Security Agreement (Stereotaxis, Inc.), And Security Agreement (Stereotaxis, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, all Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five two percentage points (5.002.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agentthe Purchasers.
Appears in 5 contracts
Samples: Note Purchase Agreement (5E Advanced Materials, Inc.), Note Purchase Agreement (5E Advanced Materials, Inc.), Note Purchase Agreement (5E Advanced Materials, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is three percentage points (3.00%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.3(c) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentAgent or Lenders.
Appears in 4 contracts
Samples: Loan and Security Agreement (Nupathe Inc.), Loan and Security Agreement (Nupathe Inc.), Loan and Security Agreement (Nupathe Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is four percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 4 contracts
Samples: Loan and Security Agreement (Network Engines Inc), Loan and Security Agreement (Satcon Technology Corp), Loan and Security Agreement (Paradigm Holdings, Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five (5) percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.3(c) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentLenders.
Appears in 4 contracts
Samples: Loan and Security Agreement (LendingClub Corp), Loan and Security Agreement (LendingClub Corp), Loan and Security Agreement (LendingClub Corp)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is four percentage points (4.0%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 4 contracts
Samples: Loan and Security Agreement (Fate Therapeutics Inc), Loan and Security Agreement (Reval Holdings Inc), Loan and Security Agreement (Fate Therapeutics Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, all Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five three percentage points (5.003.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 4 contracts
Samples: Loan and Security Agreement (Alimera Sciences Inc), Loan and Security Agreement (Alimera Sciences Inc), Loan and Security Agreement (Alimera Sciences Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed floating per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.4(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 4 contracts
Samples: Loan and Security Agreement (SI-BONE, Inc.), Loan and Security Agreement (Nuvectra Corp), Loan and Security Agreement (Entellus Medical Inc)
Default Rate. Immediately upon Upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed floating per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 4 contracts
Samples: Loan and Security Agreement (Eiger BioPharmaceuticals, Inc.), Loan and Security Agreement (RxSight, Inc.), Loan and Security Agreement (RxSight, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is three percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 3 contracts
Samples: Loan and Security Agreement (Intellon Corp), Loan and Security Agreement (International Electronics Inc), Loan and Security Agreement (Intellon Corp)
Default Rate. Immediately upon Upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.005.0%) above the rate that would otherwise be applicable thereto (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.3(e) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 3 contracts
Samples: Loan and Security Agreement (Synacor, Inc.), Loan and Security Agreement (Electro Scientific Industries Inc), Loan and Security Agreement (A10 Networks, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points (5.00%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “"Default Rate”"). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 3 contracts
Samples: Loan and Security Agreement (Spire Corp), Loan and Security Agreement (Spire Corp), Loan and Security Agreement (Spire Corp)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 3 contracts
Samples: Loan and Security Agreement (Dexcom Inc), Loan and Security Agreement (ConforMIS Inc), Loan and Security Agreement (ConforMIS Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed floating per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.4(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.. [***]=Certain Confidential Information Omitted
Appears in 3 contracts
Samples: Loan and Security Agreement (Castle Biosciences Inc), Loan and Security Agreement (Castle Biosciences Inc), Loan and Security Agreement (Castle Biosciences Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed floating per annum rate equal to the rate that is otherwise applicable thereto plus five four percentage points (5.004.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 3 contracts
Samples: Loan and Security Agreement (Centrexion Therapeutics Corp), Loan and Security Agreement (Exagen Inc.), Loan and Security Agreement (Centrexion Therapeutics Corp)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed per annum floating rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 3 contracts
Samples: Loan and Security Agreement (Adynxx, Inc.), Loan and Security Agreement (Adynxx, Inc.), Loan and Security Agreement (Alliqua BioMedical, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is four percentage points above the rate that which is otherwise applicable thereto plus five percentage points (5.00%) to the Obligations (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 3 contracts
Samples: Loan and Security Agreement (Zhone Technologies Inc), Loan and Security Agreement (Xata Corp /Mn/), Loan and Security Agreement (Zhone Technologies Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.4(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Advanced BioHealing Inc), Loan and Security Agreement (Advanced BioHealing Inc)
Default Rate. Immediately upon Upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.005.0%) above the rate that would otherwise be applicable thereto (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.3(d) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 2 contracts
Samples: Loan and Security Agreement (Iterum Therapeutics PLC), Loan and Security Agreement
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five four percentage points (5.004.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 2 contracts
Samples: Loan and Security Agreement (Exagen Inc.), Loan and Security Agreement (Exagen Inc.)
Default Rate. Immediately upon Upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.005.0%) above the rate that would otherwise be applicable thereto (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.7(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Basis Global Technologies, Inc.), Loan and Security Agreement (Basis Global Technologies, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is three and one half (3 1/2) percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.5(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Conexant Systems Inc), Loan and Security Agreement (Conexant Systems Inc)
Default Rate. Immediately Except as otherwise provided in Section 2.3(a), upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points percent (5.00%) above the rate that would otherwise be applicable thereto (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.3(e) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Magnite, Inc.), Loan and Security Agreement (Rubicon Project, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five two percentage points (5.002.00%) above the rate effective immediately before the occurrence of the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Caliper Life Sciences Inc), Loan and Security Agreement (Caliper Life Sciences Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points (5.00%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Solta Medical Inc), Loan and Security Agreement (Drugstore Com Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is two percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Cepheid), Loan and Security Agreement (Motive Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided for in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 2 contracts
Samples: Loan and Security Agreement (Clarus Therapeutics Inc), Loan and Security Agreement (Clarus Therapeutics Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is four percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Microfluidics International Corp), Export Import Bank Loan and Security Agreement (Microfluidics International Corp)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentLenders.
Appears in 2 contracts
Samples: Loan and Security Agreement (Ardea Biosciences, Inc./De), Loan and Security Agreement (MAP Pharmaceuticals, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points (5.00%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.3(c) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentAgent or Lenders.
Appears in 2 contracts
Samples: Loan and Security Agreement (Biolase Technology Inc), Loan and Security Agreement (Celldex Therapeutics, Inc.)
Default Rate. Immediately Except as otherwise provided in Section 2.3(a), upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percent (5.0%) above the rate that is would otherwise be applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.3(e) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Subordinated Loan and Security Agreement (Roku, Inc), Subordinated Loan and Security Agreement (Roku, Inc)
Default Rate. Immediately upon Upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percent (5.0%) above the rate that is would otherwise be applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.5(e) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Harmonic Inc), Loan and Security Agreement (Harmonic Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(a) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (T2 Biosystems, Inc.), Loan and Security Agreement (T2 Biosystems, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is 5% above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Sciclone Pharmaceuticals Inc), Loan and Security Agreement (Sciclone Pharmaceuticals Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, the Obligations shall accrue interest at a fixed floating per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 2 contracts
Samples: Loan and Security Agreement (Vera Therapeutics, Inc.), Loan and Security Agreement (Kezar Life Sciences, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, all Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five four percentage points (5.004%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 2 contracts
Samples: Loan and Security Agreement (Ardelyx, Inc.), Loan and Security Agreement (Ardelyx, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five three percentage points (5.003%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Airspan Networks Inc), Loan and Security Agreement (Airspan Networks Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed floating per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) [*] (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 2 contracts
Samples: Loan and Security Agreement (Cytokinetics Inc), Loan and Security Agreement (Cytokinetics Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is three percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.5(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Amtech Systems Inc), Loan and Security Agreement (Amtech Systems Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agentthe Lender.
Appears in 2 contracts
Samples: Revenue Based Factoring Mca Plus Agreement (Blue Star Foods Corp.), Subordination Agreement (Pulmonx Corp)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five (5) percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Lenders and/or Agent.
Appears in 2 contracts
Samples: Loan Modification Agreement (Meru Networks Inc), Loan Modification Agreement (Meru Networks Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.005.0%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan Modification Agreement (Tremor Video Inc.), Loan Modification Agreement (Tremor Video Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the Basic Rate (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 2 contracts
Samples: Loan Modification Agreement (PTC Therapeutics, Inc.), Loan Modification Agreement (PTC Therapeutics, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is three percentage points above the rate that which is otherwise applicable thereto plus five percentage points (5.00%) to the Obligations (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 2 contracts
Samples: Loan and Security Agreement (Energy & Power Solutions, Inc.), Loan and Security Agreement (Energy & Power Solutions, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points (5.00%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentAgent or any Lender.
Appears in 2 contracts
Samples: Loan and Security Agreement (Omeros Corp), Loan and Security Agreement (Omeros Corp)
Default Rate. Immediately upon Upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percent (5.0%) above the rate that is would otherwise be applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.3(e) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Default Rate. (i) Immediately upon the occurrence and during the continuance of an Event of Default, all Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five four and one-half percentage points (5.004.50%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agentthe Lenders.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed floating per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any other rights or remedies of Collateral Agent.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentAgent or Lenders.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed floating per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed floating per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agentany Lender.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentLenders.
Appears in 1 contract
Samples: Loan and Security Agreement (Hyperion Therapeutics Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points (5%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate which is otherwise applicable to the Obligations (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentLender.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points of twenty percent (5.0020%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) 26 is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentLender.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, the Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.4(c) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points seven percent (5.007.0%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentLender.
Appears in 1 contract
Samples: Joinder Agreement (Yodle Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five four percentage points (5.004.00%) above the rate effective immediately before the occurrence of the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Samples: Loan and Security Agreement (World Energy Solutions, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate effective immediately before the Event of Default (the “"Default Rate”"). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentLender.
Appears in 1 contract
Samples: Loan and Security Agreement (Metabasis Therapeutics Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is two percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) effective immediately before the Event of Default (the “"Default Rate”"). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Samples: Loan and Security Agreement (Centillium Communications Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five four percentage points (5.004.00%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Default Rate. Immediately upon Upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is two percentage points (2.0%) above the rate that is would otherwise be applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.4(e) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Default Rate. Immediately upon Upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to that is five hundred (500) basis points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “"Default Rate”"). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.3 (c) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentAgent or Lenders.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five (5) percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.3(c) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Default Rate. Immediately upon Upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.005.0%) above the rate that would otherwise be applicable thereto (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.3(e) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.”
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five (5) percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Samples: Loan and Security Agreement (Ocz Technology Group Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to five (5) percent (5.00%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b1.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentAgent or any Holder.
Appears in 1 contract
Samples: Note and Warrant Purchase and Security Agreement (SANUWAVE Health, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five (5.00%) percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentLender.
Appears in 1 contract
Samples: Loan and Security Agreement (WaferGen Bio-Systems, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points above the rate that which is otherwise applicable thereto plus five percentage points (5.00%) to the Obligations (the “‘Default Rate”’). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, the Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto pursuant to the applicable Loan Document plus five percentage points two percent (5.002%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agentthe Lender.
Appears in 1 contract
Samples: Loan and Security Agreement (Learn SPAC HoldCo, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed floating per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) [**] (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Lexicon Pharmaceuticals, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Complete Genomics Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points (5.00%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Tetraphase Pharmaceuticals Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five [***] percentage points (5.00[***]%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points (5.0%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “"Default Rate”"). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, the Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five four percentage points (5.004.00%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.4(c) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Samples: Loan and Security Agreement (Mercury Computer Systems Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five four percentage points (5.004.0%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Samples: Loan and Security Agreement (Soundbite Communications Inc)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “"Default Rate”"). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Healthcare Acquisition Corp)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is four percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) effective immediately before the Event of Default (the “"Default Rate”"). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Samples: Loan and Security Agreement (Sirtris Pharmaceuticals, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, the Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.2(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentLender.
Appears in 1 contract
Samples: Loan and Security Agreement (ARYx Therapeutics, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, all Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agentthe Lenders.
Appears in 1 contract
Samples: Loan and Security Agreement (Senseonics Holdings, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed floating per annum rate equal to the rate that is otherwise applicable thereto plus five four percentage points (5.004.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.4(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Aratana Therapeutics, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to which is five percentage points (5.0%) above the rate that is otherwise applicable thereto plus five percentage points (5.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue interest at a fixed per annum rate equal to the rate that is otherwise applicable thereto plus five three percentage points (5.003.00%) (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Imprimis Pharmaceuticals, Inc.)
Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall accrue bear interest at a fixed rate per annum rate equal to the rate that which is otherwise applicable thereto plus five percentage points (5.00%) above the rate effective immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b2.4(b) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Collateral AgentBank.
Appears in 1 contract
Samples: Loan and Security Agreement (St Francis Medical Technologies Inc)
