Common use of After the occurrence and during Clause in Contracts

After the occurrence and during. the continuance of a Default, the principal amount of the Term Loans and Revolving Credit Loans (and, to the extent permitted by applicable law, all accrued interest thereon) may, at the election of the Required Banks, bear interest at the Default Rate; provided, however, that automatically whether or not the Required Banks elect to do so, any overdue principal of and, to the extent permitted by law, overdue interest on any Term Loan and on any Revolving Credit Loan shall bear interest payable on demand, for each day until paid at a rate per annum equal to the Default Rate.

After the occurrence and during. the continuance of a Default, the principal amount of the Term Loans and Revolving Credit Loans (and, to the extent permitted by applicable law, all accrued interest thereonthereon not paid when due) may, at the election of the Required Banks, bear interest at the Default Rate; provided, however, that automatically automatically, whether or not the Required Banks elect to do so, any overdue principal of and, to the extent permitted by law, overdue interest on any Term Loan and on any Revolving Credit Loan shall bear interest payable on demand, for each day until paid at a rate per annum equal to the Default Rate.

After the occurrence and during. the continuance of a Default, the principal amount of the Term Loans and Revolving Credit Loans (and, to the extent permitted by applicable law, all accrued interest thereon) may, at the election of the Required Banks, bear interest at the Default Rate; provided, however, that automatically automatically, whether or not the Required Banks elect to do so, any overdue principal of and, to the extent permitted by law, overdue interest on on, any Term Loan and on any Revolving Credit Loan shall bear interest payable on demand, for each day until paid at a rate per annum equal to the Default Rate.

After the occurrence and during. the continuance of a Default, the principal amount of the Term Loans and Revolving Credit Loans (and, to the extent permitted by applicable law, all accrued interest thereon) may, at the election of the Required Banks, bear interest at the Default Rate; provided, however, that automatically automatically, whether or not the Required Banks elect to do so, any overdue principal of and, to the extent permitted by law, overdue interest on any Term Loan and on any Revolving Credit Loan shall bear interest payable on demand, for each day until paid at a rate per annum equal to the Default Rate.