Common use of Interest Upon Default Clause in Contracts

Interest Upon Default. Immediately upon the occurrence and during the continuance of an Event of Default under Section 8.1(b), (f) or (g), the outstanding principal balance of the Loans shall bear interest at the Default Rate. Upon the occurrence and during the continuance of any Event of Default, other than any Event of Default pursuant to Section 8.1(b), (f) or (g), at the Required Lenders’ discretion and upon written notice to the Borrower, the outstanding principal balance of the Loans shall bear interestBorrower shall pay interest on past due amounts hereunder outstanding at the Default Rate. Such interest shall be payable by the Borrower on written demand of the Administrative Agent or, if not sooner demanded, on the next Payment Date and shall accrue from the occurrence of such Event of Default until the earliest of (i) cure or waiver of the applicable Event of Default, (ii) agreement by the Required Lenders to rescind the charging of interest at the Default Rate, and (iii) Payment in Full of the Obligations.

Interest Upon Default. Immediately upon the occurrence and during the continuance of an --------------------- Event of Default under Section 8.1(bany of subsections (b), (f) ), or (g)) of Section 8.1 hereof, the outstanding principal balance of the Loans shall bear interest at the Default Rate. Upon In addition, upon the occurrence and during the continuance of any other Event of Default, other than any Event and upon the request of Default pursuant to Section 8.1(b), (f) or (g), at the Required Lenders’ discretion and , the Lenders shall upon written notice to the Borrower, Borrower charge the Borrower interest on the outstanding principal balance of the Loans shall bear interestBorrower shall pay interest on past due amounts hereunder outstanding at the Default RateRate from the date of such Event of Default. Such interest shall be payable by the Borrower on written demand of the Administrative Agent ordemand, if not sooner demanded, on the next Payment Date and shall accrue from the occurrence of such Event of Default until the earliest earlier of (i) waiver or cure or waiver (to the satisfaction of such Lenders as may be required under Section 11.12 hereof) of the applicable Event of Default, (ii) agreement by of the Required Lenders to rescind the charging of interest at the Default Rate, and or (iii) Payment payment in Full full of the Obligations. The Administrative Agent will promptly notify the Borrower, after the effective date, of any decision by the Required Lenders to charge interest at the Default Rate.

Interest Upon Default. Immediately upon the occurrence and during the continuance of an Event of Default under Section 8.1(b), (f) or (g), the outstanding principal balance of the Loans shall bear interest at the Default Rate. Upon the occurrence and during the continuance of any Event of Default, other than any Event of Default pursuant to Section 8.1(b), (f) or (g), at the Required Lenders’ discretion and upon written notice to the Borrower, the outstanding principal balance of the Loans shall bear interestBorrower shall pay interest on past due amounts hereunder outstanding at the Default Rate. Such interest shall be payable by the Borrower on written demand of the Administrative Agent or, if not sooner demanded, on the next Payment Date and shall accrue from the occurrence of such Event of Default until the earliest of (i) cure or waiver of the applicable Event of Default, (ii) agreement by the Required Lenders to rescind the charging of interest at the Default Rate, and (iii) Payment in Full of the Obligations.