Default Rates of Interest. At the option of Agent or upon direction from the Majority Revolving Lenders, upon and after the occurrence of an Event of Default, and during the continuation thereof, the principal amount of all Revolving Loans shall bear interest at a rate per annum equal to 2.0% plus the interest rate otherwise applicable thereto. Upon and after the occurrence of an Event of Default, and during the continuation thereof, the principal amount of the Term Loan and, to the extent permitted by applicable law, any interest payments thereon not paid when due and any fees and other amounts then due and payable hereunder to the Term Lenders, shall thereafter bear interest payable upon demand at a rate that is 3.0% per annum in excess of the interest rate otherwise payable under this Agreement with respect to the Term Loan (or, in the case of any such fees and other amounts, at a rate which is 3.0% per annum in excess of the rate otherwise payable under this Agreement for the Term Loan). Payment or acceptance of the increased rates of interest provided for in this subsection is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Agent or any Lender.
Default Rates of Interest. If an Event of Default described in Section 9.01(c) (a "Ratio Default") has occurred and is continuing for at least 30 days, from and after the 30th day after the date such Ratio Default occurred the entire outstanding unpaid principal balance of the Convertible Debentures and any unpaid interest from time to time due thereon shall bear interest, payable on demand, at the rate of 15% per annum, or such lower rate as then may be the maximum rate permitted by applicable law; provided, however, that upon the cessation or cure of such Ratio Default, if no Payment Default (as defined below) or Other Default (as defined below) is then continuing, the Convertible Debentures shall again bear interest at the rate of 6% per annum as set forth in Section 1.01 and if a Payment Default or Other Default is then continuing, the Convertible Debentures shall bear interest at the rate required by the applicable provision of this Section 1.05. If an Event of Default described in Section 9.01(a) or (b) (a "Payment Default") has occurred and is continuing for at least 30 days, from and after the 30th day after the date such Payment Default occurred the entire outstanding
Default Rates of Interest. (a) If an Event of Default described in Section 9.01(c) (a “Ratio Default”) has occurred and is continuing for at least thirty (30) days, from and after the 30th day after the date such Ratio Default occurred the entire outstanding unpaid principal balance of the 2002 Debentures and any unpaid interest from time to time due thereon shall bear interest, payable on demand, at the rate of 15% per annum, or such lower rate as then may be the maximum rate permitted by applicable law; provided, however, that upon the cessation or cure of such Ratio Default, if no Payment Default (as defined below) is then continuing, the 2002 Debentures shall again bear interest at the rate of 6% per annum as set forth in Section 1.01 and if a Payment Default is then continuing, the 2002 Debentures shall bear interest at the rate required by clause (b) of this Section 1.05.
Default Rates of Interest. If an Event of Default has occurred and is continuing, the Advances shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the provisions of Section 3.2.1 but without giving effect to the reduction of Applicable Margin (if any) provided for in accordance with the definition thereof plus 2% from the date of occurrence of such Event of Default until the date such Event of Default is cured (after as well as before judgment); provided that (x) in the case of any Event of Default (other than Events of Default under Section 8.1.1, 8.1.2 and 8.1.3) such additional 2% shall be payable only during the first six (6) months of continuation of such Event of Default (unless the Advances are accelerated during such six month period) and (y) in the case of any Event of Default under Section 8.1.1, 8.1.2 or 8.1.3, such additional 2% shall be payable only during the first six (6) months of continuation of such Event of Default or such longer period that such Event of Default is continuing but only to the extent that the continuance of such Event of Default does not solely result from the failure of the Lenders to make Advances hereunder on the basis that such Event of Default is continuing (unless the Advances are accelerated during such month period). In addition, should any interest on such Advances or any fees or other amount (other than principal) payable hereunder not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest (to the extent permitted by law in the case of interest on interest) at a rate per annum as determined pursuant to the preceding sentence which would be applicable to a Base Rate Advance (including the additional 2%), in each case, from the date of such non-payment until such amount is paid in full (after as well as before judgment).
Default Rates of Interest. Upon the occurrence and continuance of any Event of Default, the Borrowers shall pay, but only to the extent permitted by law, interest (after as well as before judgment) on the Loans and all Unreimbursed Amounts and on any other monetary Obligations of the Borrowers at a rate per annum equal to the Alternate Base Rate plus a margin of 2% over the Applicable Margin for Base Rate Loans; provided that in the case of any LIBO Rate Loan outstanding upon the occurrence and during the continuance of an Event of Default, such LIBO Rate Loan shall bear interest at a rate equal to the LIBO Rate then in effect plus the Applicable Margin plus 2% per annum until the last day of the then current Interest Period.
Default Rates of Interest. Notwithstanding the foregoing, interest on the Notes, at all times after the occurrence of and during the continuance of an Event of Default, and interest on all payments of interest that are not paid when due, shall accrue at a rate per annum equal at all such times to 10%.
