Examples of Stated Maturity in a sentence
Notwithstanding anything contained herein to the contrary, in the event that at any time the Borrowers or their respective affiliates or subsidiaries commences voluntary bankruptcy proceedings, under Chapter 11 of Title 11 of the United States Code prior to the Stated Maturity Date, the Loans shall automatically roll into any debtor-in-possession financing in respect of such proceedings at such time as such debtor-in-possession financing is entered into.
Interest shall accrue in arrears, on the outstanding principal amount of the Obligations at an interest rate equal to fifteen percent (15.00%) (the “Loan Interest Rate”) per annum and shall be payable in cash on a monthly basis on the first Business Day of each calendar month after the Effective Date and in full on the Stated Maturity Date.
Any Obligations that are not paid on the Stated Maturity Date shall bear interest at the Default Rate until paid in full.
The acceptance of any payments by the Lender after the Stated Maturity Date, or the acceptance of a partial payment, or the waiver of any breach or default shall not constitute a waiver of any other or subsequent breach or default or prevent the Lender from immediately pursuing any or all its remedies.