Non-Default Interest Clause Samples

The Non-Default Interest clause defines the interest rate that applies to outstanding amounts under an agreement when there is no event of default. Typically, this rate is lower than the default interest rate and is charged on regular payments or balances due in the ordinary course of business. By specifying the applicable interest rate in non-default situations, this clause ensures clarity for both parties regarding the cost of borrowing or late payments before any default occurs, thereby reducing disputes and providing predictable financial terms.
Non-Default Interest. Interest will be charged on the unpaid principal balance of this Note prior to acceleration or maturity at a rate of eight percent (8%) per annum, to be calculated on the basis of a 365 day year
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Non-Default Interest. The Borrower shall pay interest to Lender monthly in arrears on the first day of each month commencing April 1, 1997 on the outstanding and unpaid principal balance of the Revolving Loan, Second Term Loan and Equipment Loan at a rate per annum equal to, at Borrower's election pursuant to Section 2.14 below, (i) the Prime Rate, (ii) LIBOR plus two hundred (200) basis points, or (iii) the Cost of Funds plus two hundred (200) basis points. Notwithstanding anything contained herein to the contrary, if the Borrower achieves a Debt Service Ratio (as defined in Section 10 of Exhibit A hereto) of greater than or equal to 1.5 to 1.0 for the year to date period tested, the portion of the Revolving Loan which bears interest with respect to the LIBOR Rate or the Cost of Funds Rate will be reduced by twenty-five (25) basis points for the quarter in which the Debt Service Ratio was tested. Any change in the interest rate resulting from a change in the Prime Rate shall become effective as of the opening of business on the day on which such change in the Prime Rate shall become effective.
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Non-Default Interest. The Borrower shall pay interest to Lender monthly in arrears on the first day of each month commencing on the outstanding and unpaid principal balance of the Revolving Loan, Second Term Loan, Equipment Loan, Equipment Loan IV and Acquisition Term Loan (collectively, the "LOANS") at a rate per annum equal to, at Borrower's election pursuant to Sections 2.14 and 2.17 below, (i) the Prime Rate, (ii) LIBOR plus one hundred fifty (150) basis points, or (iii) the Cost of Funds plus one hundred fifty (150) basis points. If the Borrower achieves an Operating Leverage Ratio (as defined in Section 10 of Exhibit A hereto) of less than or equal to 2.0 to 1.0 for the quarter period tested, the Lender, in its sole and absolute discretion, may lower the interest rate on the portion of the Loans which bear interest with respect to the LIBOR Rate by twenty-five (25) basis points for the quarter following the quarter in which the Operating Leverage Ratio was tested. 5. The following is hereby inserted after Section 2.20 of the Loan Agreement:
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Non-Default Interest. The Loans comprising each (i) Base Rate Borrowing shall bear interest at a rate per annum equal to the Base Rate plus the Applicable Margin, (ii) SON▇▇ ▇▇rrowing shall bear interest at a rate per annum equal to Daily Simple SON▇▇ ▇▇us the Applicable Margin, (iii) Eurocurrency Borrowing shall bear interest at a rate per annum equal to the Adjusted Eurocurrency Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin, and (iv) SOFR Borrowing shall bear interest at a rate per annum equal to Adjusted Term SOFR for the Interest Period in effect for such Borrowing plus the Applicable Margin.
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Non-Default Interest. Subject to the provisions of Section 2.04(b), Loans shall bear interest as follows: (i) during such periods as any Loans shall be comprised of Base Rate Loans, each such Base Rate Loan shall bear interest at a per annum rate equal to the sum of the Base Rate plus the Applicable Margin with respect thereto, and (ii) during such periods as Loans shall be comprised of LIBOR Loans, each such LIBOR Loan shall bear interest at a per annum rate equal to the sum of the LIBOR plus the Applicable Margin with respect thereto. the Term Loan shall bear interest on the unpaid principal balance thereof from the Third Amendment Effective Date until paid in full, in cash in accordance with the terms hereof at a rate equal to twelve percent (12.0%) per annum.
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Non-Default Interest. Subject to the provisions of Section 2.04(b), Loans shall bear interest as follows: (i) during such periods as any Loans shall be comprised of Base Rate Loans, each such Base Rate Loan shall bear interest at a per annum rate equal to the sum of the Base Rate plus the Applicable Margin with respect thereto, and (ii) during such periods as Loans shall be comprised of LIBOR Loans, each such LIBOR Loan shall bear interest at a per annum rate equal to the sum of the LIBOR plus the Applicable Margin with respect thereto.
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Related to Non-Default Interest

  • Upon Default Landlord shall have the right to pursue any one or more of the following remedies: (a) Terminate this Lease, in which case Tenant shall immediately surrender the Premises to Landlord. If Tenant fails to surrender the Premises, Landlord, in compliance with Law, may enter upon and take possession of the Premises and remove Tenant, Tenant’s Property and any party occupying the Premises. Tenant shall pay Landlord, on demand, all past due Rent and other losses and damages Landlord suffers as a result of Tenant’s Default, including, without limitation, all Costs of Reletting (defined below) and any deficiency that may arise from reletting or the failure to relet the Premises. “Costs of Reletting” shall include all reasonable costs and expenses incurred by Landlord in reletting or attempting to relet the Premises, including, without limitation, legal fees, brokerage commissions, the cost of alterations and the value of other concessions or allowances granted to a new tenant.

  • Post-Default Interest The Borrower shall pay interest on all Obligations (other than any Administrative Expenses) that are not paid when due for the period from the due date thereof until the date the same is paid in full at the Post-Default Rate. Interest payable at the Post-Default Rate shall be payable on each Payment Date in accordance with the Priority of Payments.

  • Default Interest Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

  • Default Interest Rate From and after the occurrence of any Event of Default, and so long as any such Event of Default remains unremedied or uncured thereafter, the Obligations outstanding under the Agreement shall bear interest at a per annum rate of five percent (5%) above the otherwise applicable interest rate hereunder, which interest shall be payable upon demand. In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar days after the payment due date therefor, but acceptance of payment of any such charge shall not constitute a waiver of any Event of Default under the Agreement. In no event shall the interest payable under this Addendum and the Agreement at any time exceed the maximum rate permitted by law.

  • Reservation Default Failure by the Borrower to have reserve for issuance upon conversion of the Note the amount of Common stock as set forth in the Subscription Agreement.