Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders, (i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and (ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 35 contracts
Sources: Credit Agreement (EGAIN Corp), Credit Agreement (PROS Holdings, Inc.), Credit Agreement (Unifi Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 19 contracts
Sources: Credit Agreement (Arc Document Solutions, Inc.), Credit Agreement (Oclaro, Inc.), Credit Agreement (Federal Signal Corp /De/)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 18 contracts
Sources: Credit Agreement (USA Mobility, Inc), Credit Agreement (Angiotech Pharmaceuticals Inc), Credit Agreement (Watsco Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 16 contracts
Sources: Credit Agreement (Servicesource International LLC), Credit Agreement (Servicesource International LLC), Credit Agreement (Bell Industries Inc /New/)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 4 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 4 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 11 contracts
Sources: Loan and Security Agreement (Telos Corp), Loan and Security Agreement (Telos Corp), Loan and Security Agreement (Aegis Communications Group Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) , all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 6 contracts
Sources: Credit Agreement (Unifi Inc), Debt Agreement (Ciber Inc), Credit Agreement (Inventure Foods, Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 3 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 3 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 6 contracts
Sources: Loan and Security Agreement (Silicon Graphics Inc /Ca/), Loan and Security Agreement (Acme Communications Inc), Loan and Security Agreement (Hologic Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been whether or not charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 5 contracts
Sources: Credit Agreement (Baseline Oil & Gas Corp.), Credit Agreement (Take Two Interactive Software Inc), Credit Agreement (Take Two Interactive Software Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 2.00 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 2.00 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 5 contracts
Sources: Loan and Security Agreement (Freshpet, Inc.), Loan and Security Agreement (Freshpet, Inc.), Loan and Security Agreement (Freshpet, Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required LendersDefault,
(i) all the overdue Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
two (ii2) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder, and
(ii) the overdue Letter of Credit Fees shall be increased to two (2) percentage points above the per annum rate otherwise applicable hereunder. Interest at the above referenced rate (the "Default Rate") shall be payable upon demand.
Appears in 5 contracts
Sources: Asset Based Revolving Credit Agreement (Cleveland-Cliffs Inc.), Asset Based Revolving Credit Agreement (Cleveland-Cliffs Inc.), Asset Based Revolving Credit Agreement (Cleveland-Cliffs Inc.)
Default Rate. Upon the occurrence and during the continuation continuance of an Event of Default and at the election of Agent or the Required Lenders,
Default, (ia) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof Loans then outstanding shall bear interest at a per annum rate equal to 2 the rate otherwise applicable to such Loan plus 2.0 percentage points, and (b) the Letter of Credit Fee shall be increased to 2.0 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee . All amounts payable under this Section 2.4 shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunderdue and payable on demand by Agent.
Appears in 5 contracts
Sources: Credit Agreement (Ares Commercial Real Estate Corp), Credit Agreement (Ares Commercial Real Estate Corp), Credit Agreement (Ares Commercial Real Estate Corp)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the written election of Agent or the Required Supermajority Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 4 contracts
Sources: Credit Agreement (Sanfilippo John B & Son Inc), Credit Agreement (Sanfilippo John B & Son Inc), Credit Agreement (Sanfilippo John B & Son Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the each Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 4 contracts
Sources: Credit Agreement (Hampshire Group LTD), Credit Agreement (Hampshire Group LTD), Credit Agreement (Hampshire Group LTD)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Revolving Loans and all other Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 4 contracts
Sources: Credit Agreement (Ocz Technology Group Inc), Credit Agreement (Quantum Corp /De/), Credit Agreement (School Specialty Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) the interest rate applicable to all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 4 contracts
Sources: Credit Agreement (Connecture Inc), Credit Agreement (Connecture Inc), Credit Agreement (Connecture Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at any time following the election of Agent or the Required LendersTermination Date,
(i) the principal amount of all Obligations (except for undrawn Letters of CreditCredit and Bank Products) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 three (3) percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.12 shall be increased to 2 by three (3) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 4 contracts
Sources: Credit and Security Agreement (IES Holdings, Inc.), Credit and Security Agreement (IES Holdings, Inc.), Credit and Security Agreement (Integrated Electrical Services Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required LendersLender),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 3 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 3 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 4 contracts
Sources: Loan and Security Agreement (Swank, Inc.), Loan and Security Agreement (Swank, Inc.), Loan and Security Agreement (Swank, Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 3 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee provided for above shall be increased to 2 3 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 4 contracts
Sources: Loan Agreement (Palm Inc), Loan Agreement (Palm Inc), Loan Agreement (Palm Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required LendersDefault,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 3 contracts
Sources: Loan Agreement (Arg Property Management Corp), Loan and Security Agreement (Brio Software Inc), Loan and Security Agreement (Phonetel Technologies Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 3 contracts
Sources: Credit Agreement (Wabash National Corp /De), Credit Agreement (Wabash National Corp /De), Exim Guarantied Credit Agreement (Stanadyne Holdings, Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required LendersDefault,
(i) all Obligations (except for undrawn Letters of CreditCredit ) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 3 contracts
Sources: Loan and Security Agreement (Peninsula Gaming Co LLC), Loan and Security Agreement (Peninsula Gaming Corp), Loan and Security Agreement (Microstrategy Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 4 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 4 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 3 contracts
Sources: Loan and Security Agreement (Hudson Highland Group Inc), Loan and Security Agreement (Hudson Highland Group Inc), Loan and Security Agreement (Frontstep Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the written election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 3 contracts
Sources: Credit Agreement (Jack Cooper Holdings Corp.), Credit Agreement (Jack Cooper Holdings Corp.), Credit Agreement (Jack Cooper Logistics, LLC)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required LendersDefault,
(i) all Obligations (except for undrawn Letters of CreditCredit ) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 4 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 4 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 3 contracts
Sources: Loan and Security Agreement (Cray Inc), Loan and Security Agreement (Metalico Inc), Loan and Security Agreement (Microstrategy Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at upon the election of Agent or the Required Lenders,:
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 2.00 percentage points above the per annum rate otherwise applicable thereunder, ; and
(ii) the Letter of Credit Fee shall be increased to 2 2.00 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 3 contracts
Sources: Credit Agreement (Vector Group LTD), Credit Agreement (Vector Group LTD), Credit Agreement (Vector Group LTD)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations which are due and owing under the Loan Documents (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 3 contracts
Sources: Credit Agreement (BOISE CASCADE Co), Credit Agreement (BOISE CASCADE Co), Credit Agreement (BOISE CASCADE Co)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) , all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 two (2) percentage points above the per annum rate otherwise applicable thereunder, and
(ii) and the Letter of Credit Fee shall be increased to 2 two (2) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 3 contracts
Sources: Credit Agreement (SeaSpine Holdings Corp), Credit Agreement (SeaSpine Holdings Corp), Credit Agreement (SeaSpine Holdings Corp)
Default Rate. Upon the occurrence and during the continuation of an Event of Default Default, and at Agent's discretion (or as the election of Agent or is directed by the Required Lenders),
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 3 contracts
Sources: Loan and Security Agreement (Guitar Center Inc), Loan and Security Agreement (Guitar Center Inc), Loan and Security Agreement (Guitar Center Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 3 contracts
Sources: Credit Agreement (MDC Partners Inc), Credit Agreement (MDC Partners Inc), Credit Agreement (MDC Partners Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Default, if elected by Agent or the Required LendersLenders during such time,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Appfolio Inc), Credit Agreement (Appfolio Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points per annum above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points per annum above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Delta Apparel, Inc), Credit Agreement (Delta Apparel, Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Asure Software Inc), Credit Agreement (Asure Software Inc)
Default Rate. Upon the occurrence and during the continuation continuance of an a Significant Event of Default and at the election of Agent or the Required LendersDefault,
(i) all overdue Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Abl Credit and Guarantee Agreement (Janus International Group, Inc.), Abl Credit and Guarantee Agreement (Janus International Group, Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit ) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 3 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 3 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Loan and Security Agreement (Silicon Graphics Inc /Ca/), Loan and Security Agreement (DSG International LTD)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Revolving Loans and all other Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 3 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 3 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Debtor in Possession Credit Agreement (School Specialty Inc), Debtor in Possession Credit Agreement (School Specialty Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Administrative Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 two (2) percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 two (2) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Thryv Holdings, Inc.), Credit Agreement (Thryv Holdings, Inc.)
Default Rate. Upon At the election of Agent or the Required Lenders upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required LendersDefault,
(i) all unpaid Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 two (2) percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 two (2) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Dip Credit Agreement (Storm Cat Energy CORP), Credit Agreement (Storm Cat Energy CORP)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Navarre Corp /Mn/), Credit Agreement (MDC Partners Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and Default, at the election of Agent or the Required LendersLender,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 two (2) percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 two (2) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Loan and Security Agreement (Seitel Inc), Loan and Security Agreement (Matrix Geophysical, Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations which are due and owing under the Loan Documents (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (BOISE CASCADE Co), Credit Agreement (Boise Cascade Holdings, L.L.C.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required LendersDefault,
(i) all the overdue Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
two (ii2) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder, and
(ii) the overdue Letter of Credit Fees shall be increased to two (2) percentage points above the per annum rate otherwise applicable hereunder. Interest at the above referenced rate (the “Default Rate”) shall be payable upon demand.
Appears in 2 contracts
Sources: Asset Based Revolving Credit Agreement (Cleveland-Cliffs Inc.), Asset Based Revolving Credit Agreement (Cleveland-Cliffs Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Loans and other Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Titan Machinery Inc.), Credit Agreement (Titan Machinery Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Revolving Loans and all Obligations (except for undrawn Letters of CreditCredit and Bank Product Obligations) that have been charged to the applicable Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the applicable Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Kronos Worldwide Inc), Credit Agreement (Kronos Worldwide Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and Default, at the election of Agent or the Required LendersLender,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points Two percent (2.0%) above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points Two percent (2.00%) above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Loan and Security Agreement (OVERSTOCK.COM, Inc), Loan and Security Agreement (Overstock Com Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Administrative Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Inventory Facility Credit Agreement (Anixter International Inc), Credit Agreement (Anixter International Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderthereto, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Debtor in Possession Credit Agreement, Senior Secured, Priming and Superpriority Debtor in Possession Credit Agreement
Default Rate. Upon the occurrence and during the continuation of an Event of Default and Default, at the election of Agent or the Required Lenders,
(i1) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 two (2) percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii2) the Letter of Credit Fee fee provided for above shall be increased to 2 two (2) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Loan and Security Agreement (West Marine Inc), Loan and Security Agreement (West Marine Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fees provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Stream Global Services, Inc.), Credit Agreement (Stream Global Services, Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and Default, at the election of Agent or the Required LendersLender,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 three (3) percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 three (3) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Loan and Security Agreement (Seitel Inc), Loan and Security Agreement (Seitel Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required LendersDefault,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 4 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Loan and Security Agreement (Old Evangeline Downs Capital Corp), Loan and Security Agreement (Peninsula Gaming Corp)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit ) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Loan and Security Agreement (Cellstar Corp), Loan and Security Agreement (Cellstar Corp)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required LendersDefault,
(i) all the overdue Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 two (2) percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the overdue Letter of Credit Fee Fees shall be increased to 2 two (2) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Syndicated Facility Agreement (Cleveland-Cliffs Inc.), Syndicated Facility Agreement (Cliffs Natural Resources Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required LendersLender),
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Loan and Security Agreement (Lazy Days R.V. Center, Inc.), Loan and Security Agreement (Anacomp Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit and Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 4 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 4 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (ECA Marcellus Trust I), Credit Agreement (Energy Corp of America)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Renewable Energy Group, Inc.), Credit Agreement (Renewable Energy Group, Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Bank Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Alion Science & Technology Corp), Credit Agreement (Alion Science & Technology Corp)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at after the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (FleetMatics Group PLC), Credit Agreement (FleetMatics Group PLC)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election discretion of Agent or the election of the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Remy International, Inc.), Credit Agreement (Remy International, Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 two (2) percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 two (2) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Nacco Industries Inc), Credit Agreement (Advanced Energy Industries Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(ia) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 3 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(iib) the Letter of Credit Fee fee provided for above shall be increased to 2 3 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the written election of Agent or the Required Lenders,
, (i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderthereunder to such Obligations, and
and (ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Credit Agreement (SAVVIS, Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
Default, (i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 three percentage points (3.0%) above the per annum rate Interest Rate otherwise applicable thereundercharged in Section 2.6(a), and
and (ii) the Letter of Credit Fee fee provided in Section 2.6(b) shall be increased to 2 percentage points above the five percent (5%) per annum rate otherwise applicable hereundertimes the Daily Balance of the amount of the undrawn Letters of Credit that were outstanding during the immediately preceding month.
Appears in 1 contract
Sources: Loan and Security Agreement (Allied Products Corp /De/)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
Default, (i) all non-contingent Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
Base Rate plus 4.50%; and (ii) the Letter of Credit Fee fee provided in Section 2.7(b) shall be increased to 2 percentage points above the 5.50% per annum rate otherwise applicable hereundertimes the amount of the aggregate undrawn amount of all outstanding Letters of Credit.
Appears in 1 contract
Sources: Loan and Security Agreement (Texas New Mexico & Oklahoma Coaches Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Loans, and Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof hereof, shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Credit Agreement (Nuverra Environmental Solutions, Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
Default, (i) all Obligations (except for undrawn Letters of CreditCredit and except for Obligations under Hedging Arrangements) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points 2.00% above the per annum rate otherwise applicable thereunderhereunder, and
and (ii) the Letter of Credit Fee fee provided for in Section 2.9(c) and (d) shall be increased to 2 percentage points 2.00% above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Credit Agreement (Complete Production Services, Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required LendersDefault,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 4 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 4 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Credit Agreement (Sirva Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of any Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit ) that have been whether or not charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 two (2) percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 two (2) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Loan and Security Agreement (Northland Cranberries Inc /Wi/)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) without duplication, the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Credit Agreement (CDC Software CORP)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 2.00 percentage points above the per annum rate otherwise applicable thereunderhereunder, andand 137020431v13
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 2.00 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 two (2) percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 two (2) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon At the election of Agent or the Required Lenders, upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,Default:
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points two percent (2%) above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points by two percent (2%) above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required LendersLender),
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 two (2) percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 two (2) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account Accounts pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders,
(i) ), all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) and the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of (if Agent or the Required LendersLenders so elect),
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
Default, (i) all Obligations (except for the amounts undrawn under Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 four (4) percentage points above the applicable per annum rate otherwise applicable thereunderthen in effect under Section 2.6(a), and
and (ii) the Letter letter of Credit Fee credit fees provided for in Section 2.6(b) shall be increased to 2 by four (4) percentage points above the per annum rate otherwise applicable hereunder.points;
Appears in 1 contract
Sources: Loan and Security Agreement (Employee Solutions Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 3 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 3 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Credit Agreement (Realpage Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Loans, and all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof hereof, shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Credit Agreement (Manitowoc Co Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required LendersDefault,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Obligations referred to in clause (b) of the definition thereof) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Credit Agreement (Digirad Corp)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.5(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Credit Agreement (Dialogic Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
Default, (i) all non-contingent Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
Base Rate plus 3.00%; and (ii) the Letter of Credit Fee fee provided in Section 2.7(b) shall be increased to 2 percentage points above the 4.50% per annum rate otherwise applicable hereundertimes the amount of the aggregate undrawn amount of all outstanding Letters of Credit.
Appears in 1 contract
Sources: Loan and Security Agreement (Vermont Transit Co Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
Default, (i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 2.0 percentage points above the per annum rate otherwise applicable thereunderthereto as set forth in Section 2.8(a), and
and (ii) the Letter of Credit Fee fee provided in Section 2.8(b) shall be increased to 2 percentage points above the 4.875% per annum rate otherwise applicable hereundertimes the amount of the undrawn Letters of Credit that were outstanding during the immediately preceding month.
Appears in 1 contract
Sources: Loan and Security Agreement (CTC Communications Corp)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required LendersLender),
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 4 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fees provided for above shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon Immediately upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
and (iiB) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
Default, (i) all Obligations (except for undrawn Letters of Creditas otherwise provided in Section 2.6(c)(ii)) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 5-1/2 percentage points above the per annum rate otherwise applicable thereunderReference Rate, and
and (ii) the Letter of Credit Fee fee provided in Section 2.6(b) shall be increased to 2 percentage points above the 2-1/2% per annum rate otherwise applicable hereundertimes the amount of the undrawn Letters of Credit that were outstanding during the immediately preceding month.
Appears in 1 contract
Sources: Loan and Security Agreement (Grant Geophysical Inc)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
Default, (i) all non-contingent Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
Reference Rate plus 2.00%; and (ii) the Letter of Credit Fee fee provided in Section 2.7(b) shall be increased to 2 percentage points above the 3.50% per annum rate otherwise applicable hereundertimes the amount of the aggregate undrawn amount of all outstanding Letters of Credit.
Appears in 1 contract
Sources: Loan and Security Agreement (Los Buenos Leasing Co Inc)
Default Rate. Upon the occurrence and during the continuation of (A) an Event of Default described in Section 8.04 or Section 8.05, automatically, and (B) any other Event of Default, at the election of Agent or at the request of the Required Lenders,
(i) all Obligations, including all Obligations (except charged to the Loan Account, but not, for the avoidance of doubt, Obligations in respect of undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof , shall bear interest at a per annum rate equal to 2 two (2) percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 two (2) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Credit Agreement (Shimmick Corp)
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Collateral Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default and (at the election of Agent or the Required LendersLenders or, in the case of the Term Loan B Obligations, Ableco),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 3 percentage points above the per annum rate otherwise applicable thereunder, hereunder; and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 3 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
, (i) all Loans and other Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
and (ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required LendersDefault,
(i) all Obligations (except for undrawn Letters of CreditCredit ) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 four (4) percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 four (4) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default (and at the election of Agent or the Required Lenders),
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 three (3) percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 three (3) percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders▇▇▇▇▇▇▇,
(i) all Loans, and all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof hereof, shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Credit Agreement (Birks Group Inc.)
Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required LendersDefault,
(i) all Obligations (except for undrawn Letters of CreditCredit and except for Bank Product Obligations) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 4.00 percentage points above the per annum rate otherwise applicable thereunderhereunder, and
(ii) the Letter of Credit Fee fee provided for above shall be increased to 2 4.00 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Default Rate. Upon (i) Immediately upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required Lenders,
(i) all Obligations (except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and
and (iiB) the Letter of Credit Fee fee provided for in Section 2.6(b) shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.
Appears in 1 contract
Sources: Debtor in Possession Credit Agreement (Exide Technologies)