Examples of Default Interest Rate in a sentence
If any CVR called for redemption or subject to purchase shall not be so paid upon surrender for redemption or purchase because of the failure of Parent to comply with the preceding paragraph, interest shall be paid on the unpaid redemption price from the redemption date or purchase date, as applicable, until such redemption price is paid at the Default Interest Rate.
Any amounts due under this Section 10.13 shall be paid within 30 days of the date upon which such amounts are due to be paid and such amounts remaining unpaid after such date shall accrue interest at the Default Interest Rate.
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.
In such event, Xxxxxxxx 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.
Likewise, the Parties expressly recognize and agree that the terms and conditions applicable to the Additional Credit will be those described in this Agreement for the “Credit”, including without limitation, the Ordinary Interest Rate and the Default Interest Rate, as well as the Date of Interest Payment, the Principal Payment Date, the Amortization Schedule and the requirements for subsequent Dispositions established in Clause Ninth.