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;

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

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.

Examples of Default Interest Rate in a sentence

• Commencing on the occurrence of any Event of Default and until such Event of Default is cured, this Note shall accrue interest at an interest rate equal to the Default Interest Rate.

• Any amount to be paid under this Section 10.2 shall be a demand obligation owing by Borrower and if not paid within ten (10) Business Days of demand shall bear interest, to the extent not prohibited by and not in violation of applicable Law, from the date of expenditure until paid at a rate per annum equal to the Default Interest Rate.

• If you fail to pay the Entry Payment on the Commencement Date or such other date that you and we agree, or if you fail to make any other such payment for 5 Working Days after the payment is due, you must pay default interest at the Default Interest Rate on the payment, from the due date until the day we receive payment.

• Any amount to be paid under this Section 10.1 shall be a demand obligation owing by the Borrower and if not paid within ten (10) Business Days of written demand to the Borrower shall bear interest, to the extent not prohibited by and not in violation of applicable Law, from the date of expenditure until paid at a rate per annum equal to the Default Interest Rate.

• In such event, Bxxxxxxx shall, at the request of Administrative Agent, promptly pay to Administrative Agent any amount expended by Administrative Agent 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 varying per annum rate equal at any given time to the lesser of (a) four percentage points in excess of the General Interest Rate and (b) the maximum rate permitted by applicable law.

Default Interest Rate is defined in the Note.

Default Interest Rate means the Interest Rate plus 5%; “Direct Damage” has the meaning given to it in clause 26.2;

Default Interest Rate means for any Default Interest Period:

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