Post-Default Rate definition

Post-Default Rate means, in respect of any principal of any Loan or any other Obligation that is not paid when due (whether at stated maturity, by acceleration, by optional or mandatory prepayment or otherwise), a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin for Base Rate Loans plus four percent (4.0%).
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Post-Default Rate means a rate of interest per annum equal to the rate of interest otherwise in effect from time to time pursuant to the terms of this Agreement plus 2.00%, or, if a rate of interest is not otherwise in effect, interest at the highest rate specified herein for any Loan then outstanding prior to an Event of Default plus 2.00%.
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Post-Default Rate shall have the meaning set forth in the Pricing Side Letter.
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Examples of Post-Default Rate in a sentence

  • Notwithstanding that the Borrower is permitted to draw on the April 2024 Bridge Loan, in the event the April 2024 Bridge Loan results in an Over Advance, Interest on the Term Loans shall accrue and shall be paid at the Post-Default Rate until such date as there is no Over Advance.

  • The Borrower shall pay interest on all Obligations (other than any Administrative Expenses) that are not paid when due (after giving effect to any grace period thereto) for the period from the due date thereof (after giving effect to any grace period thereto) until the date the same is paid in full at the Post-Default Rate.

  • Interest payable at the Post-Default Rate shall be payable on each Payment Date in accordance with the Priority of Payments.

  • In the event that any Monthly Borrowing Base Certificate following the Effective Borrowing Base Certificate shall reflect that the Loan Parties are in an Over Advance (other than the Permitted Over Advance) position, Interest during such period shall accrue and shall be paid at the Post-Default Rate (provided that such payment at Post-Default Rate shall not be deemed to be a waiver of any Default and/or Event of Default that may occur as a result of such Over Advance).


More Definitions of Post-Default Rate

Post-Default Rate means a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin for Base Rate Loans plus two percent (2%).
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Post-Default Rate means, in respect of any principal of any Class of Loans, the rate otherwise applicable to such Class of Loans plus an additional two percent (2.0%) per annum and with respect to any other Obligation, a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin for Base Rate Loans that are Revolving Loans plus two percent (2.0%).
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Post-Default Rate means, in respect of any principal of any Loan or any other amount under this Loan Agreement, the Note or any other Loan Document that is not paid when due to the Lender (whether at stated maturity, by acceleration, by optional or mandatory prepayment or otherwise), a rate per annum during the period from and including the due date to but excluding the date on which such amount is paid in full equal to 4% per annum plus the Prime Rate.
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Post-Default Rate has the meaning assigned to such term in Section 2.5(c).
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Post-Default Rate means a rate per annum equal to the rate of interest otherwise in effect pursuant to this Agreement plus 2.0% per annum.
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Post-Default Rate has the meaning assigned to such term in the Pricing Side Letter.
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Post-Default Rate has the meaning set forth in Section 3.02(b).
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