Common use of Rates Applicable After Default Clause in Contracts

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) month. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 3 contracts

Samples: Credit Agreement (Actuant Corp), Credit Agreement (Actuant Corp), Credit Agreement (Actuant Corp)

AutoNDA by SimpleDocs

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 3 contracts

Samples: Credit Agreement (Lancaster Colony Corp), Credit Agreement (Lancaster Colony Corp), Credit Agreement (Lancaster Colony Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the all Lenders to changes in the interest rates), declare that no Advance denominated in Dollars portion of the Loan to Borrower may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Loan. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the all Lenders to changes in interest rates), declare that (i) each Eurocurrency Advance the Loan (or any portion thereof), if bearing interest at the Eurodollar Rate, shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, annum and (ii) each Floating Rate Advance the Loan (or any portion thereof), if bearing interest at the Alternate Base Rate, shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, provided that, that during the continuance of a Default under Section 7.6 or 7.77.7 with respect to Borrower, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions the Outstanding Loan to Borrower without any election or action on the part of the Agent or any Lender.

Appears in 3 contracts

Samples: Loan Agreement (Delmarva Power & Light Co /De/), Loan Agreement (Potomac Electric Power Co), Assignment Agreement (Potomac Electric Power Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates)Borrower, declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthDollars. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee letter of credit fee payable pursuant to clause (i) of Section 2.4.5 shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to above the Floating Rate in effect from time to time plus 2% per annumfee otherwise applicable, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates and letter of credit fee set forth in clauses (i), (ii) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions Advances and Letters of Credit, respectively, without any election or action on the part of the Agent or any Lender.

Appears in 3 contracts

Samples: Credit Agreement (Bio Rad Laboratories Inc), Credit Agreement (Bio Rad Laboratories Inc), Credit Agreement (Bio Rad Laboratories Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default with respect to a Borrower, the Required Lenders may, at their option, by notice to the Company such Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars to such Borrower may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default with respect to a Borrower, the Required Lenders may, at their option, by notice to the Company such Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance to such Borrower shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance to such Borrower shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee Rate payable by such Borrower shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, that during the continuance of a Default under Section 7.6 or 7.77.7 with respect to any Borrower, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts Rate set forth in clause (iii) and (iv) above shall be applicable to all Outstanding Credit Extensions to such Borrower without any election or action on the part of the Agent or any Lender.

Appears in 3 contracts

Samples: Credit Agreement (Potomac Electric Power Co), Credit Agreement (Atlantic City Electric Co), Credit Agreement (Pepco Holdings Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.2.3 or 2.10Section 2.2.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable Alternate Base Rate in effect from time to such Interest Period time plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 3 contracts

Samples: Credit Agreement (Puget Energy Inc /Wa), Credit Agreement (Puget Energy Inc /Wa), Credit Agreement (Puget Energy Inc /Wa)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates)Borrower, declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice and rate increase may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall thereafter bear interest for during the remainder continuance of the applicable Interest Period such Default at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall thereafter bear interest during the continuance of such Default at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) the LC Fee each Swing Line Loan shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall thereafter bear interest during the continuance of such Default at a rate per annum equal to the Floating Swing Line Rate in effect from time to time plus 2% per annum, annum and (iv) the LC Fee shall thereafter be increased by 2% per annum during the continuance of such Default; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i), (ii) and (iiiii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions Advances without any election or action on the part of the Agent or any Lender.

Appears in 3 contracts

Samples: Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp.)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus two percent (2% %) per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus the Applicable Margin plus two percent (2% %) per annum, (iii) the LC Letter of Credit Fee Rate shall be increased by two percent (2% %) per annum and (iv) any other amount due and payable hereunder (including interest and fees) each Swing Line Loan shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus the Applicable Margin plus two percent (2% %) per annum, ; provided that, during the continuance of a Default under Section 7.6 Sections 7.7 or 7.77.8, the interest rates set forth in clauses (i), (ii) and (iiiv) above and the increase in the LC Letter of Credit Fee and other amounts Rate set forth in clause (iii) and (iv) above shall be applicable to all applicable Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Great Plains Energy Inc), Credit Agreement (Great Plains Energy Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default with respect to a Borrower, the Required Lenders may, at their option, by notice to the Company such Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars to such Borrower may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default with respect to a Borrower, the Required Lenders may, at their option, by notice to the Company such Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance to such Borrower shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance to such Borrower shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee Rate payable by such Borrower shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, that during the continuance of a Default under Section 7.6 or 7.77.7 with respect to any Borrower, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts Rate set forth in clause (iii) and (iv) above shall be applicable to all Outstanding Credit Extensions to such Borrower without any election or action on the part of the Agent or any Lender.. 2.12

Appears in 2 contracts

Samples: Credit Agreement (Pepco Holdings Inc), Credit Agreement (Atlantic City Electric Transition Funding LLC)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance and Swing Loan shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Assignment Agreement (Aetna Industries Inc), Assignment Agreement (Aetna Industries Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.3 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.3 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Vectren Corp), Credit Agreement (Vectren Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.82.9, 2.9 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Tecumseh Products Co), Year Credit Agreement (Tecumseh Products Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Letter of Credit Fee Rate shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Letter of Credit Fee and other amounts Rate set forth in clause (iii) and (iv) above shall be applicable to all applicable Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Great Plains Energy Inc), Credit Agreement (Great Plains Energy Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Letter of Credit Fee Rate shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Letter of Credit Fee and other amounts Rate set forth in clause (iii) and (iv) above shall be applicable to all applicable Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Assignment Agreement (Xcel Energy Inc), Assignment Agreement (Northern States Power Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.82.8 or 2.9, 2.9 no Advance may be made as, converted into or 2.10, during continued as a Term SOFR Advance or Eurocurrency Advance (except with the consent of the Administrative Agent and the Required Lenders) when any Default or Unmatured Default has occurred and is continuing. During the continuance of a Default under Section 7.2, the Administrative Agent or the Required Lenders may, at their option, by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into Administrative Agent or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) month. During the continuance of a Default the Required Lenders mayLenders, at their optionas applicable, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (ia) the overdue amount of each Term SOFR Advance and each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate Term SOFR Rate or Eurocurrency Rate otherwise applicable to such Interest Period plus 2% per annum, (iib) the overdue amount of each Floating Alternate Base Rate Advance shall bear interest at a rate per annum equal to the Floating Rate Alternate Base Rate, in effect from time to time plus 2% per annum and (c) the overdue amount of each XXXXX Advance shall bear interest at a rate per annum equal to XXXXX in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (ia) and through (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (ivc) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender. 2.12.

Appears in 2 contracts

Samples: Credit Agreement (Aon PLC), Credit Agreement (Aon PLC)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates)Borrower, declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest (after, as well as before judgment) for the remainder of the applicable Interest Period (and for each subsequent Interest Period during the continuance of such Default or Unmatured Default) if the Required Lenders have not prohibited Eurodollar Advances) at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest (after, as well as before judgment) at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) each Swing Line Loan shall bear interest (after, as well as before judgment) at a rate per annum equal to the Swing Line Rate in effect from time to time plus 2% per annum, (iv) the LC Fee shall be increased by 2% per annum and (ivv) any other amount all outstanding and past due and payable fees hereunder (including interest and fees) shall which do not otherwise bear interest shall accrue interest (after, as well as before judgment) at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i), (ii) and (iiiii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions Advances without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Oge Energy Corp), Credit Agreement (Oge Energy Corp.)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.82.10, 2.9 2.11 or 2.102.12, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders under a Facility to changes in interest ratesrates with respect to such Facility), declare that no Advance denominated in Dollars may be made as, converted into or continued beyond its current term as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthLIBOR Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders under a Facility to changes in interest ratesrates with respect to such Facility), declare that (i) each Eurocurrency LIBOR Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, annum and (ii) each Floating Rate ABR Advance shall bear interest at a rate per annum equal to the Floating ABR Rate in effect from time otherwise applicable to time the ABR Advance plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) the Facility Letter of Credit Fee shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus increase by 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest that such rates set forth in clauses (i) and (ii) above and the increase in the LC Facility Letter of Credit Fee and other amounts set forth in clause (iii) and (iv) above shall be become applicable automatically without notice to all Credit Extensions without any the Borrower or an election or action on by the part of the Administrative Agent or any LenderLender if a Default occurs under Section 8.7 or Section 8.8, or a Default occurs relating to the payment of principal or interest, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Credit and Term Loan Agreement (Duke Realty Limited Partnership/), Revolving Credit Agreement (Duke Realty Limited Partnership/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, and (ii) each Floating Rate ABR Advance and Swing Line Loan shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Ryland Group Inc), Credit Agreement (Ryland Group Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.2.3 or 2.10Section 2.2.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 21% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 21% per annum, annum and/or (iii) the LC Letter of Credit Fee Rate shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 21% per annum, provided that, during the continuance of a Default under Section 7.6 7.7 or 7.77.8, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Letter of Credit Fee and other amounts Rate set forth in clause (iii) and (iv) above shall be applicable to all applicable Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Mge Energy Inc), Credit Agreement (Madison Gas & Electric Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.2.3 or 2.10Section 2.2.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars Revolving Loan may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Loan. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Advance Eurodollar Loan shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable Alternate Base Rate in effect from time to such Interest Period time plus 2% per annum, (ii) each Floating Rate Advance Loan shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) each LIBOR Market Index Rate Loan shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum and (iv) the LC Fee shall be increased by 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i), (ii) and (iiiii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Puget Sound Energy Inc), Credit Agreement (Puget Sound Energy Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by written notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by written notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (ia) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (iib) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iiic) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum; provided, provided that, that during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (ia) and (iib) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (ivc) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Midas Inc), Credit Agreement (Midas Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthAdvance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Covansys Corp), Credit Agreement (Covansys Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.2.3 or 2.102.2.4, during the continuance of a Default or Unmatured Default with respect to any Borrower, the Required Lenders may, at their option, by notice to the Company such Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars to such Borrower may be made as, converted into or continued as a Eurocurrency Eurodollar Ratable Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthor Swing Line Advance. During the continuance of a Default with respect to such Borrower, the Required Lenders may, at their option, by notice to the Company such Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (ia) each Eurocurrency Fixed Rate Advance made to such Borrower shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (iib) each Floating Rate ABR Advance made to such Borrower shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, annum and (iiic) the LC Fee Letter of Credit fee set forth in Section 2.5(e) shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default with respect to any Borrower under Section 7.6 or 7.7, the interest rates set forth in clauses (ia) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (ivb) above shall be applicable to all Extensions of Credit Extensions to all Borrowers without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (Nationwide Financial Services Inc/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.2(c) or 2.10Section 2.2(d), during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default any such Default, the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest (and any Eurodollar Advance which is not paid at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) end of the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and feesapplicable Interest Period) shall bear interest at a rate per annum equal to the Floating Rate in effect from time plus 2% per annum and (iii) Letter of Credit Fees shall be equal to time the Applicable Margin for Letter of Credit Fees plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts Letter of Credit Fees set forth in clause (iii) and (iv) above shall be applicable to all applicable Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Portland General Electric Co /Or/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.5 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.5 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate Eurodollar Rate otherwise applicable to such Interest Period plus the Applicable Margin from time to time in effect plus 2% per annum, annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) each of the LC Fee Letter of Credit fees described in Section 2.17.9 shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts Letter of Credit fees set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions Advances without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Vectren Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10this Article II, during the continuance of a Default an Event of Default, the Required Lenders may, at their option, by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.3 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthAdvance. During the continuance of a an Event of Default the Required Lenders may, at their option, by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.3 requiring unanimous consent of the Lenders to changes in interest rates), declare that (ia) each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (iib) each Floating Base Rate Advance and each U.S. Swing Loan shall bear interest at a rate per annum equal to the Floating Base Rate in effect from time to time plus 2% per annum, (iiic) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) each Foreign Currency Swing Loan shall bear interest at a rate per annum equal to the Floating Rate in effect rate otherwise applicable thereto from time to time plus 2% per annum and (d) each Euro Swing Loan shall bear interest at a rate per annum equal to the rate otherwise applicable thereto from time to time plus 2% per annum, ; provided that, during the continuance of a an Event of Default under Section 7.6 or 7.77.5, the interest rates set forth in clauses (ia), (b), (c) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (ivd) above shall be applicable to all Credit Extensions Advances and Swing Loans without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Assignment and Assumption (Visa Inc.)

Rates Applicable After Default. Notwithstanding anything to the ------------------------------- contrary contained in Section 2.8, 2.9 2.03(e) or 2.102.03(f), during the continuance of a Default or Event of Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.06(a) requiring unanimous consent of the Lenders to changes in interest rates), declare that no Syndicated Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthFixed Rate Syndicated Advance. During the continuance of a Default an Event of Default, (i) the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.06(a) requiring unanimous consent of the Lenders to changes in interest rates), declare that (ix) each Eurocurrency Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, annum and (iiy) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, and (iiiii) the LC Fee shall Swing Line Lender may, at its option, by notice to the Borrower (which notice may be increased by 2% per annum and (ivrevoked at the option of the Swing Line Lender notwithstanding any provision of Section 9.06(a) any other amount due and payable hereunder (including requiring unanimous consent for the Lenders to changes in interest and fees) rates), declare that each Swing Line Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% two percent (2.0%) per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (National Data Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus the Applicable Margin plus 2% per annum, (iii) the LC Letter of Credit Fee Rate shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) each Swing Line Loan shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus the Applicable Margin plus 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 8.6 or 7.78.7, the interest rates set forth in clauses (i), (ii) and (iiiv) above and the increase in the LC Letter of Credit Fee and other amounts Rate set forth in clause (iii) and (iv) above shall be applicable to all applicable Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Great Plains Energy Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency (x) Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annumPeriod, and (iiy) each Floating Rate Advance Advance, shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iiiii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (ivii) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (MPW Industrial Services Group Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.10Section 2.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period lesser of (x) the Eurodollar Rate calculated by adding the Applicable Margin for Level V (as set forth on the Pricing Schedule) plus 2% per annumannum and (y) the Highest -30- Lawful Rate, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the lesser of (x) the Floating Rate in effect from time to time calculated by adding the Applicable Margin for Level V plus 2% per annum, annum and (y) the Highest Lawful Rate and (iii) the LC Fee shall be calculated by using the Applicable Margin for Level V increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or Section 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (Shaw Group Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a any Default or Unmatured Default, the Required Lenders may, at their option, option and by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthAdvance. During the continuance of a Default Default, the Required Lenders may, at their option, option and by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, ; and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (Cardinal Health Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus two percent (2% %) per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus the Applicable Margin plus two percent (2% %) per annum, (iii) the LC Letter of Credit Fee Rate shall be increased by two percent (2% %) per annum and (iv) any other amount due and payable hereunder (including interest and fees) each Swing Line Loan shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus the Applicable Margin plus two percent (2% %) per annum, ; provided that, during the continuance of a Default under Section 7.6 Sections 8.7 or 7.78.8, the interest rates set forth in clauses (i), (ii) and (iiiv) above and the increase in the LC Letter of Credit Fee and other amounts Rate set forth in clause (iii) and (iv) above shall be applicable to all applicable Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Great Plains Energy Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.1 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.1 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating or Overnight Funds Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 8.1(f) or 7.7(g), the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions Advances without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (Firstmerit Corp /Oh/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthLIBOR Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency LIBOR Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, annum and (ii) each Floating Rate Advance and all fees and other Obligations hereunder shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions Advances and on any accrued and unpaid fees and other Obligations without any election or action on the part of the Administrative Agent or any Lender.. SIDLEY XXXXXX XXXXX & XXXX LLP

Appears in 1 contract

Samples: Credit Agreement (Argonaut Group Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default with respect to a Borrower, the Required Lenders may, at their option, by notice to the Company such Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars to such Borrower may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default with respect to a Borrower, the Required Lenders may, at their option, by notice to the Company such Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance to such Borrower shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance to such Borrower shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee Rate payable by such Borrower shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, that during the continuance of a Default under Section 7.6 or 7.77.7 with respect to any Borrower, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts Rate set forth in clause (iii) and (iv) above shall be applicable to all Outstanding Credit Extensions to such Borrower without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Atlantic City Electric Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), (i) declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Eurodollar Advance or a Euro-Canadian Advance, and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1ii) monthdeclare that all outstanding Euro-Canadian Advances shall immediately convert to U.S. Dollars at the Spot Dollar Amount (as of the date of such declaration) and shall bear interest at the Floating Rate. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (ix) each Eurocurrency Eurodollar Advance and Euro-Canadian Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (iiy) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and feesany Euro-Canadian Advance converted as set forth in clause (ii) above) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, and (z) the LC Fee shall be increased by 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the conversion of Euro-Canadian Advances set forth in clause (ii) above, the interest rates set forth in clauses (ix) and (iiy) above above, and the increase in the LC Fee and other amounts set forth in clause (iii) and (ivz) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (Newpark Resources Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 23% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 23% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 23% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (International Fibercom Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.82.9, 2.9 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthAdvance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus two percent (2% %) per annum, annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus two percent (2% %) per annum, and (iii) the LC Fee shall be increased by two percent (2% per annum and (iv%) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 8.7 or 7.78.8, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent Administrative Agent, the LC Issuers or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Core Laboratories N V)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided ; PROVIDED that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Microchip Technology Inc)

Rates Applicable After Default. Notwithstanding anything to the ------------------------------ contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by written notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by written notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance and Swing Line Loan shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Transit Group Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.82.8 or 2.9, 2.9 no Advance may be made as, converted into or 2.10, during continued as a Term SOFR Advance or Eurocurrency Advance (except with the consent of the Administrative Agent and the Required Lenders) when any Default has occurred and is continuing. During the continuance of a Default under Section 7.2, the Administrative Agent or the Required Lenders may, at their option, by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into Administrative Agent or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) month. During the continuance of a Default the Required Lenders mayLenders, at their optionas applicable, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (ia) the overdue amount of each Term SOFR Advance and each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate Adjusted Term SOFR Rate or Eurocurrency Rate otherwise applicable to such Interest Period plus 2% per annum, (iib) the overdue amount of each Floating Alternate Base Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (ivc) any other the overdue amount due and payable hereunder (including interest and fees) of each XXXXX Advance shall bear interest at a rate per annum equal to the Floating Rate XXXXX in effect from time to time plus 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (ia) and through (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (ivc) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender. 2.12.

Appears in 1 contract

Samples: The Credit Agreement (Aon PLC)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.7 or 2.8, 2.9 or 2.10, during the continuance of a an Event of Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.11 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a an Event of Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of under Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates7.1(b), declare that 7.1(g) or 7.1(h), (ia) each Eurocurrency Eurodollar Advance (in the case of an Event of Default under Section 7.1(b), with respect to which such Event of Default shall exist) shall bear interest for the remainder of the applicable Eurodollar Interest Period at the rate otherwise applicable to such Eurodollar Interest Period plus 2% per annum, (iib) each Floating Rate Advance (in the case of an Event of Default under Section 7.1(b), with respect to which such Event of Default shall exist) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iiic) each outstanding Letter of Credit (in the LC case of an Event of Default under Section 7.1(b), with respect to which such Event of Default shall exist) shall bear interest at a rate per annum equal to the Applicable Letter of Credit Fee shall be increased by Rate in effect from time to time plus 2% per annum annum, and (ivd) any all interest, fees (other amount due than fees referred to in clause (c) hereof) and payable other amounts outstanding hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Superior Energy Services Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default with respect to a Borrower, the Required Lenders may, at their option, by notice to the Company such Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars to such Borrower may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default with respect to a Borrower, the Required Lenders may, at their option, by notice to the Company such Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance to such Borrower shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, annum and (ii) each Floating Rate Advance to such Borrower shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, provided that, that during the continuance of a Default under Section 7.6 or 7.77.7 with respect to any Borrower, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions outstanding Loans to such Borrower without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (Atlantic City Electric Transition Funding LLC)

AutoNDA by SimpleDocs

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default, (a) the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Eurodollar Advance and (b) the Swingline Lender may, at its option, declare that no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthSwingline Loans shall be made to Borrower. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, annum and (ii) each Floating Rate Advance and each Swingline Loan shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, provided that, that during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Outstanding Credit Extensions to Borrower without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (Pepco Holdings Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.82.9, 2.9 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 or 7.78(f), the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Department 56 Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.2.3 or 2.10Section 2.2.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable Alternate Base Rate in effect from time to such Interest Period time plus 2% per annum, annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Puget Sound Energy Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Eurodollar Interest Period at the rate otherwise applicable to such Eurodollar Interest Period plus 2% per annum, annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided PROVIDED that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions Advances without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Superior Energy Services Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.82.08, 2.9 2.09 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.03 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.03 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) if the Facility LCs have not been secured by a deposit in the Facility LC Collateral Account as required hereby, the Facility LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 8.01(f) or 7.7(g), the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (NVR Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.11 or 2.102.12, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by written notice to the Company Borrower Representative (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by written notice to the Company Borrower Representative (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (ia) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (iib) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iiic) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum; provided, provided that, that during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (ia) and (iib) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (ivc) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Midas Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.7 or 2.8, 2.9 or 2.10, during the continuance of a an Event of Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.11 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a an Event of Default the Required Lenders mayunder Section 7.2, at their option7.7 or 7.8, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance (in the case of an Event of Default under Section 7.2, with respect to which such Event of Default shall exist) shall bear interest for the remainder of the applicable Eurodollar Interest Period at the rate otherwise applicable to such Eurodollar Interest Period plus 2% per annum, (ii) each Floating Rate Advance (in the case of an Event of Default under Section 7.2, with respect to which such Event of Default shall exist) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) each outstanding Letter of Credit (in the LC case of an Event of Default under Section 7.2, with respect to which such Event of Default shall exist) shall bear interest at a rate per annum equal to the Applicable Letter of Credit Fee shall be increased by Rate in effect from time to time plus 2% per annum annum, and (iv) any all interest, fees (other amount due than fees referred to in clause (iii) hereof) and payable other amounts outstanding hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Superior Energy Services Inc)

Rates Applicable After Default. Notwithstanding anything anything, to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum,, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, . and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Coachmen Industries Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.1 requiring unanimous consent of the Lenders to changes reductions in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.1 requiring unanimous consent of the Lenders to changes reductions in interest rates), ) declare that (i) each Eurocurrency i)each Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, annum and (ii) each Floating Rate Advance (other than those under clause (i) above) and each Swingline Loan shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions Advances and Swingline Loans without any election or action on the part of the Agent or any Lender.. 1.13

Appears in 1 contract

Samples: Assignment Agreement (Hovnanian Enterprises Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthLIBOR Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency LIBOR Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance and all fees and other Obligations hereunder shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions and on any accrued but unpaid fees and other Obligations without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Insurance Auto Auctions Inc /Ca)

Rates Applicable After Default. Notwithstanding ------------------------------ anything to the contrary contained in Section 2.8Sections 2.9, 2.9 2.10 or 2.102.12, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthAdvance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the -------- continuance of a Default under Section 7.6 7.7 or 7.77.8, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Modine Manufacturing Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.7 or 2.8, 2.9 or 2.10, during the continuance of a an Event of Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.11 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollarTerm Benchmark Advance. During the continuance of a an Event of Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of under Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates7.1(b), declare that 7.1(g) or 7.1(h), (ia) each Eurocurrency EurodollarTerm Benchmark Advance (in the case of an Event of Default under Section 7.1(b), with respect to which such Event of Default shall exist) shall bear interest for the remainder of the applicable Eurodollar Interest Period at the rate otherwise applicable to such Eurodollar Interest Period plus 2% per annum, (iib) each Floating Rate Advance (in the case of an Event of Default under Section 7.1(b), with respect to which such Event of Default shall exist) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iiic) each outstanding Letter of Credit (in the LC case of an Event of Default under Section 7.1(b), with respect to which such Event of Default shall exist) shall bear interest at a rate per annum equal to the Applicable Letter of Credit Fee shall be increased by Rate in effect from time to time plus 2% per annum annum, and (ivd) any all interest, fees (other amount due than fees referred to in clause (c) hereof) and payable other amounts outstanding hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Superior Energy Services Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 21% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 21% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 21% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Puget Sound Energy Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10this Article II, during the continuance of a Default an Event of Default, the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.3 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthAdvance. During the continuance of a an Event of Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.3 requiring unanimous consent of the Lenders to changes in interest rates), declare that (ia) each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (iib) each Floating Base Rate Advance and each U.S. Swing Loan shall bear interest at a rate per annum equal to the Floating Base Rate in effect from time to time plus 2% per annum, (iiic) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) each Foreign Currency Swing Loan shall bear interest at a rate per annum equal to the Floating Rate in effect rate otherwise applicable thereto from time to time plus 2% per annum and (d) each Euro Swing Loan shall bear interest at a rate per annum equal to the rate otherwise applicable thereto from time to time plus 2% per annum, ; provided that, during the continuance of a an Event of Default under Section 7.6 or 7.77.5, the interest rates set forth in clauses (ia), (b), (c) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (ivd) above shall be applicable to all Credit Extensions Advances and Swing Loans without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Assignment and Assumption (Visa Inc.)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.82.9, 2.9 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 7.1 (f) or 7.7(g), the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Clark Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10Sections 2.3, during the continuance of a Default or Event of Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.1 requiring unanimous consent of the Lenders to changes reductions in interest rates), declare that no Advance denominated in Dollars portion of the Loan may be made maintained as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a an Event of Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.1 requiring unanimous consent of the Lenders to changes reductions in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% [***] per annum, annum and (ii) each Floating Rate Advance the portion of the Loan not accruing interest at the rate under clause (i) above shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% the Applicable Margin plus [***] per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, ; provided that, during the continuance of a an Event of Default under Section 7.6 7(f) or 7.77(g), the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions Advances without any election or action on the part of the Administrative Agent or any Lender. Upon the occurrence and during the continuance of an Event of Default, all interest shall be payable on demand.

Appears in 1 contract

Samples: Term Loan Agreement (Guild Holdings Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company (which Borrower(which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance and each Swing Line Loan bearing interest at an Agreed Swing Line Rate shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance and each Swing Line Loan bearing interest at the Floating Rate shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, and (iii) the rate used in determining the Facility LC Fee fee payable pursuant to Section 2.19(d) shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus an additional 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest and fee rates set forth in clauses (i), (ii) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions Advances and Swing Line Loans without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Industrial Distribution Group Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (ia) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (iib) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iiic) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (ia) and (iib) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (ivc) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Patterson Dental Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthAdvance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (Cardinal Health Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, and (iii) the LC Fee Letter of Credit fees described in Section 2.20.11 hereof shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts Letter of Credit fees set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions Advances without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Equity Oil Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates)Borrower, declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) each Swing Line Loan shall bear interest at a rate per annum equal to the Swing Line Rate in effect from time to time plus 2% per annum, (iv) the LC Fee shall be increased by 2% per annum and (ivv) any other amount all outstanding and past due and payable fees hereunder (including which do not otherwise bear interest and fees) shall bear accrue interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, ; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i), (ii) and (iiiii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions Advances without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (OGE Enogex Partners L.P.)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthTerm Benchmark Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Term Benchmark Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Lancaster Colony Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default, (a) the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Eurodollar Advance and (b) the Swingline Lender may, at its option, declare that no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthSwingline Loans shall be made to Borrower. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, annum and (ii) each Floating Rate Advance and each Swingline Loan shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus 2% per annum, provided that, that (A) during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Outstanding Credit Extensions to Borrower without any election or action on the part of the Agent or any LenderLender and (B) if the Agent has not received the Additional Board Authorization evidencing the authorization of the Borrower to accrue interest at the rates set forth in this Section 2.13, the Borrower shall immediately repay all outstanding amounts owing hereunder.

Appears in 1 contract

Samples: Credit Agreement (Pepco Holdings Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus two percent (2% %) per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus the Applicable Margin plus two percent (2% %) per annum, (iii) the LC Letter of Credit Fee Rate shall be increased by two percent (2% %) per annum and (iv) any other amount due and payable hereunder (including interest and fees) each Swing Line Loan shall bear interest at a rate per annum equal to the Floating Alternate Base Rate in effect from time to time plus the Applicable .CHAR1\1170499v7 Margin plus two percent (2% %) per annum, ; provided that, during the continuance of a Default under Section 7.6 Sections 8.7 or 7.78.8, the interest rates set forth in clauses (i), (ii) and (iiiv) above and the increase in the LC Letter of Credit Fee and other amounts Rate set forth in clause (iii) and (iv) above shall be applicable to all applicable Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Kansas City Power & Light Co)

Rates Applicable After Default. Notwithstanding anything to the ------------------------------ contrary contained in Section 2.8, 2.9 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by written notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by written notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during -------- the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Luiginos Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.2(c) or 2.10Section 2.2(d), during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthSOFR Advance. During the continuance of a Default any such Default, the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency SOFR Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest (and any SOFR Advance which is not paid at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) end of the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and feesapplicable Interest Period) shall bear interest at a rate per annum equal to the Floating Rate in effect from time plus 2% per annum, (iii) each Swing Line Loan shall bear interest a rate per annum equal to time the Swing Line Rate plus 2% per annum and (iv) Letter of Credit Fees shall be equal to the Applicable Margin for Letter of Credit Fees plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts Letter of Credit Fees set forth in clause (iii) and (iv) above shall be applicable to all applicable Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Portland General Electric Co /Or/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 2.08 or 2.102.09, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.02 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthEurodollar Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Company Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.02 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee and the Commitment Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided thatprovided, that during the continuance of a Default under Section 7.6 7.08 or 7.77.09, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Commonwealth Edison Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8Sections 2.9, 2.9 2.10 or 2.102.12, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period longer than one (1) monthAdvance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, annum and (iii) the LC Fee shall be increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 7.6 8.7 or 7.78.8, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and (iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Modine Manufacturing Co)

Time is Money Join Law Insider Premium to draft better contracts faster.