Common use of Late Charges; Default Interest Clause in Contracts

Late Charges; Default Interest. (a) If the Borrower shall default in the payment of any principal installment of or interest on any Loan, or any other amount becoming due hereunder, upon the consent and determination of the Required Banks, the Borrower shall pay to the Agent for the pro rata distribution to the Banks interest, to the extent permitted by law, on such defaulted amount up to the date of actual payment (after as well as before judgment) at an increased rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days) of up to a rate equal to three (3%) percent in excess of the interest rate otherwise in effect with respect to the type of Loan in connection with which the required payments have not been made.

Late Charges; Default Interest. (a) If the Borrower shall default in the payment of any principal installment of or interest on any Loan, or any amount due under any Letter of Credit, or any other amount becoming due hereunder, upon the consent and determination of the Required Banks, the Borrower shall pay to the Agent for the pro rata distribution to the Banks or the Issuing Bank, as applicable, interest, to the extent permitted by law, on such defaulted amount up to the date of actual payment (after as well as before judgment) at an increased a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days) of up to a rate equal to three two (32%) percent in excess of the interest rate otherwise in effect with respect to the type of Loan or Letter of Credit reimbursement in connection with which the required payments have not been made.

Late Charges; Default Interest. (a) If the a Borrower shall default in the payment of any principal installment of or interest on any Loan, or any amount due under any Letter of Credit, or any other amount becoming due hereunder, upon the consent and determination of the Required Banks, the a Borrower shall pay to the Agent for the pro rata distribution to the Banks or the Issuing Bank, as applicable, interest, to the extent permitted by law, on such defaulted amount up to the date of actual payment (after as well as before judgment) at an increased a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days) of up to a rate equal to three two (32%) percent in excess of the interest rate otherwise in effect with respect to the type of Loan or Letter of Credit reimbursement in connection with which the required payments have not been made.

Late Charges; Default Interest. (a) If the Borrower shall default in the payment of any principal installment of or interest on any Loan, or any amount due in respect of any Letter of Credit, or any other amount becoming due hereunder, upon the consent and determination of the Required Banks, the Borrower shall pay to the Agent for the pro rata distribution to the Banks or the Issuing Bank, as applicable, interest, to the extent permitted by law, on such defaulted amount up to the date of actual payment (after as well as before judgment) at an increased a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days) of up to a rate equal to three two (32%) percent in excess of plus the interest rate otherwise which would then be in effect with respect to a Prime Rate Loan made hereunder at the type of Loan in connection with which the time such required payments have were not been made.

Late Charges; Default Interest. (a) If the Borrower shall default in the payment of any principal installment of or interest on any Loan, or any amount due in respect of any Letter of Credit, or any other amount becoming due hereunder, upon the consent and determination of the Required Banks, the Borrower shall pay to the Agent for the pro rata distribution to the Banks or the Issuing Bank, as applicable, interest, to the extent permitted by law, on such defaulted amount up to the date of actual payment (after as well as before judgment) at an increased a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days) of up to a rate equal to three two (32%) percent in excess of plus the interest rate otherwise which would then be in effect with respect to an Alternate Base Rate Loan made hereunder at the type of Loan in connection with which the time such required payments have were not been made.