Default Interest Rate definition

Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

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Default Interest Rate shall have the meaning set forth in Section 2(a).

Default Interest Rate means the Interest Rate plus 5% per annum;

Examples of Default Interest Rate in a sentence

Notwithstanding anything to the contrary contained herein while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Interest Rate.
Any outstanding principal of any Advance and (to the fullest extent permitted by law) any other amount payable by Borrowers under this Agreement or any other Loan Document that is not paid in full when due (whether at stated maturity, by acceleration, or otherwise) shall bear interest at the Default Interest Rate for the period from and including the due date thereof to but excluding the date the same is paid in full.
Interest payable at the Default Interest Rate shall be payable from time to time on demand and all such interest shall continue to accrue on the Obligations after the filing by or against Borrowers of any petition seeking any relief in bankruptcy or under any Debtor Relief Law (and regardless of whether a claim for post filing or post-petition interest is allowed in any bankruptcy, insolvency, reorganization or similar proceeding).
All accrued but unpaid interest on the principal balance of the Loans shall be payable on each Payment Date and on the Termination Date, provided that interest accruing at the Default Interest Rate pursuant to Section 2.2(a) shall be payable on demand.
In such event, Borrowers shall, at the request of L▇▇▇▇▇, promptly pay to Lender any amount expended by L▇▇▇▇▇ in connection with such performance or attempted performance, together with interest thereon at the Default Interest Rate from and including the date of such expenditure to but excluding the date such expenditure is paid in full.

More Definitions of Default Interest Rate

Default Interest Rate means the lesser of (i) the per annum rate of interest calculated on a daily basis using the prime rate published in the Wall Street Journal for the applicable day (with the rate for any day for which such rate is not published being the rate most recently published) plus two hundred (200) basis points and (ii) the maximum rate of interest permitted by Applicable Law.

Default Interest Rate means the lesser of (a) eight percent (8%) per annum and (b) the maximum rate of interest permitted by Applicable Law.

Default Interest Rate means a rate of interest equal to the lesser of (a) the aggregate of THREE PERCENT (3%) per annum plus the Interest Rate, or (b) the highest rate legally permissible under applicable Requirements of Law. The Default Interest Rate shall change from time to time as and when the Interest Rate changes.

Default Interest Rate means the lower of (i) the sum of (a) the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A., as its prime rate and (b) 5%, or (ii) the highest rate of interest permitted under applicable law.

Default Interest Rate means the lower of (i) the sum of (a) the Prime Rate and (b) 5% or (ii) the highest rate of interest permitted under applicable law.

Default Interest Rate means simple interest applicable on delayed payment or short payment from the date the payment was due until realization of full payment and such interest shall be computed at the rate of 2% (two percent) per month on the payment that is due.

Default Interest Rate means the interest rate set out in paragraph 7 of Annex 1;