Common use of Rate after Maturity Clause in Contracts

Rate after Maturity. Except as provided in the next sentence, any Advance which is not paid at maturity for such Advance, whether by acceleration or otherwise, shall bear interest until paid in full at a rate per annum equal to the Floating Rate plus 5% per annum. In the case of a Fixed Rate Advance the maturity of which is accelerated, such Fixed Rate Advance shall bear interest at the rate otherwise applicable to such Interest Period plus 5% per annum for the remainder of the applicable Interest Period, and thereafter at the Floating Rate plus 5% per annum.

Rate after Maturity. Except as provided in the next sentence, any Advance which is not paid at maturity for such Advancematurity, whether by acceleration or otherwise, shall bear interest until paid in full at a rate per annum equal to the Floating Rate plus 5% per annum. In the case of a Fixed Rate Advance the maturity of which is accelerated, such Fixed Rate Advance shall bear interest at the rate otherwise applicable to such Interest Period plus 5% per annum for the remainder of the applicable Interest Period, and thereafter at the Floating Rate plus 5% per annum.