Common use of Rates Applicable After Default Clause in Contracts

Rates Applicable After Default. During the continuance of a Default (including the Borrower's failure to pay any Loan at maturity) the Required Lenders may, at their option, by notice to the 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 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; 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 set forth in clause (iii) above shall be applicable to all Credit Extensions, Advances, fees and other Obligations hereunder without any election or action on the part of the Administrative Agent or any Lender.

Rates Applicable After Default. During Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.11, during the continuance of a Default (including the Borrower's failure to pay any Loan at maturity) or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower 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) no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and/or (b) each Eurodollar 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/or (iic) 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 annum and/or (iiid) the LC Letter of Credit Fee Rate 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 (ib) and (iic) above and the increase in the LC Letter of Credit Fee Rate set forth in clause (iiid) above shall be applicable to all applicable Credit Extensions, Advances, fees and other Obligations hereunder Extensions without any election or action on the part of the Administrative Agent or any Lender.

Rates Applicable After Default. During the continuance of a Default (including the Borrower's failure to pay any Loan at maturity) the Required Lenders may, at their option, by notice to the 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 Eurodollar Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at a rate per annum equal to the rate otherwise applicable Floating Rate in effect from time to such Interest Period time plus 2% per annum, (iib) each Floating Rate Advance and each 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, and (iiic) the LC Fee described in the first sentence of Section 2.24.4 shall be increased by to 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 7.2, 7.3 (solely arising as a result of a breach of Section 6.20 or 6.21), 7.6 or 7.7, the interest rates set forth in clauses (ia) and (iib) above and the increase in the LC Fee set forth in clause (iiic) above shall be applicable to all Credit Extensions, Advances, fees and other Obligations hereunder without any election or action on the part of the Administrative Agent Agent, any LC Issuer or any Lender.

Rates Applicable After Default. During the continuance of a Default (including the Borrower's ’s failure to pay any Loan at maturity) the Required Lenders may, at their option, by notice to the 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 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; 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 set forth in clause (iii) above shall be applicable to all Credit Extensions, Advances, fees and other Obligations hereunder without any election or action on the part of the Administrative Agent or any Lender.

Rates Applicable After Default. During Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.11, during the continuance of a Default (including the Borrower's failure to pay any Loan at maturity) or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower 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 reductions in interest rates), declare that (ia) no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and/or (b) each Eurodollar 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/or (iic) 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 annum and/or (iiid) the LC Letter of Credit Fee Rate shall be increased by 2% per annum; provided that, during the continuance of a Default under Section 7.6 (f) or 7.7(g) of Article VII, the interest rates set forth in clauses (ib) and (iic) above and the increase in the LC Letter of Credit Fee Rate set forth in clause (iiid) above shall be applicable to all applicable Credit Extensions, Advances, fees and other Obligations hereunder Extensions without any election or action on the part of the Administrative Agent or any Lender.

Rates Applicable After Default. During the continuance of a Default (including the Borrower's failure to pay any Loan at maturity) the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 ‎8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (ia) each Eurodollar Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at a rate per annum equal to the rate otherwise applicable Floating Rate in effect from time to such Interest Period time plus 2% per annum, (iib) each Floating Rate Advance and each 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, and (iiic) the LC Fee described in the first sentence of Section ‎2.24.4 shall be increased by to 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 ‎7.2, ‎7.3 (solely arising as a result of a breach of Section ‎6.20 or 7.7‎6.21), ‎7.6 or ‎7.7, the interest rates set forth in clauses (ia) and (iib) above and the increase in the LC Fee set forth in clause (iiic) above shall be applicable to all Credit Extensions, Advances, fees and other Obligations hereunder without any election or action on the part of the Administrative Agent Agent, any LC Issuer or any Lender.

Rates Applicable After Default. Notwithstanding anything to the ------------------------------ contrary contained in Section 2.8 or 2.9, during the continuance of a Default or Unmatured Default no Advance may be made as, converted into or continued as a Eurodollar Advance. During the continuance of a Default (including the Borrower's failure to pay any Loan at maturity) the Required Lenders may, at their option, by notice to the 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 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 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; , 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 set forth in clause (iii) above shall be applicable to all Credit Extensions, Advances, fees and other Obligations hereunder Extensions without any election or action on the part of the Administrative Agent or any Lender.