Common use of Pre-Default Rate Clause in Contracts

Pre-Default Rate. Subject to the provisions of clause (b), clause (c) and clause (d) below, each Loan shall bear interest on the outstanding principal amount thereof (for the avoidance of doubt, based on the stated principal amount thereof without reducing such amount by any applicable original issue discount) from the applicable borrowing date thereof at a rate per annum equal to the Interest Rate.

Pre-Default Rate. Subject to the provisions of clause (b), clause (c) and clause (d) below, each Loan shall bear interest on the outstanding principal amount thereof (for the avoidance of doubt, based on the stated principal amount thereof without reducing such amount by any applicable original issue discount) for each Interest Period from the applicable borrowing date thereof at a rate per annum equal to the Interest RateRate for such Interest Period.

Pre-Default Rate. Subject to the provisions of clause (b), clause (c) and clause (dc) below, each Loan shall bear interest on the outstanding principal amount thereof (for the avoidance of doubt, based on the stated principal amount thereof without reducing such amount by any applicable original issue discount) from the applicable borrowing date thereof at a rate per annum equal to the Interest Rate.