Interest and Principal. (a) On each Payment Date, Borrower shall pay to Lender interest in arrears on each Note for the applicable Interest Accrual Period at the applicable Interest Rate (except that in each case, interest shall be payable on the Indebtedness, including due but unpaid interest, at the Default Rate with respect to any portion of such Interest Accrual Period falling during the continuance of an Event of Default).
Appears in 9 contracts
Samples: Loan Agreement (Sears Holdings Corp), Loan Agreement (Sears Holdings Corp), Loan Agreement (Sears Holdings Corp)
