Default Rates. If any payment of principal on any Loan is not made when due after the expiration of the grace period therefor provided in Section 7.1 (whether by acceleration or otherwise), such Loan shall bear interest (computed on the basis of a year of 360, 365 or 366 days, as applicable, and actual days elapsed) from the date such payment was due until such principal then due is paid in full, payable on demand, at a rate per annum equal to:
Appears in 4 contracts
Samples: Credit Agreement (Palex Inc), Stock Pledge Agreement (Quanta Services Inc), Credit Agreement (Palex Inc)
Default Rates. If any payment of principal on any Loan is ------------- not made when due after the expiration of the grace period therefor provided in Section 7.1 (whether by acceleration or otherwise), such Loan shall bear interest (computed on the basis of a year of 360, 365 or 366 days, as applicable, and actual days elapsed) from the date such payment was due until such principal then due is paid in full, payable on demand, at a rate per annum equal to:
Appears in 2 contracts
Samples: Secured Credit Agreement (Palex Inc), Secured Credit Agreement (Quanta Services Inc)
Default Rates. If any payment of principal on any Loan is not made when due after the expiration of the grace period therefor provided in Section SECTION 7.1 (whether by acceleration or otherwise), such Loan shall bear interest (computed on the basis of a year of 360, 365 or 366 days, as applicable, and actual days elapsed) from the date such payment was due until such principal then due is paid in full, payable on demand, at a rate per annum equal to:
Appears in 1 contract
