Post Default Interest definition

Post Default Interest. Any principal balance not paid when due (whether by acceleration or otherwise) shall accrue interest at the
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Post Default Interest. Any principal balance not paid when due (whether by acceleration or otherwise) shall accrue interest at the "Default Rate" until such principal balance is paid. "Default Rate" shall be a per annum rate of interest equal to (i) fifteen percent (15.0%) or (ii), if less, the highest rate of interest permitted by applicable law. Upon the occurrence of an Event of Default, Debtor shall also pay, in addition to and on the same date each principal installment is due, additional interest ("Daily Supplemental Interest") as reflected in Secured Party's invoice, which Secured Party shall calculate as follows: Daily Supplemental Interest shall be the amount obtained by multiplying the principal installment, determined as of the due date next preceding the occurrence of the Event of Default, by Three percent (3.00%) and dividing the product by 360 days; provided that any corresponding increase in the interest rate hereof shall be reduced, if necessary, so as not to exceed the maximum interest rate permitted by applicable law. Secured Party may, at its option, apply late payments (either in full or partial) in the following manner: first to interest, then to principal, and finally to late charges. To the extent permitted by applicable law, Debtor shall pay interest on delinquent principal installments on demand regardless of whether or not Secured Party proceeds under the "Remedies" provisions hereof or takes any other action, and demand for and collection of interest on such overdue installments at the Default Rate shall not be deemed a waiver of default or of any other remedies or rights. This paragraph shall not be construed to limit or waive any of Secured Party's rights and remedies otherwise available to Secured Party after the occurrence of any Event of Default
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Post Default Interest shall have the meaning given to such term in Section 35. ---------------------
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Examples of Post Default Interest in a sentence

  • Four residents (less than 10%) live in residences of 99m2 or under, 17 (36%) are between 100-149m2, 9(19%) are 150-199m2, 11 residences were reported to be 200-249m2 and one was 250-299m2 (Table 3).

  • A contractual commitment by the Foreign Financial Institution issuing the Letter of Credit in connection with an Eligible Export Sale to make payment(s) on principal amount(s), plus any Ordinary Interest and Post Default Interest, in U.S. dollars, to an Exporter orU.S. Financial Institution on deferred payment terms consistent with those permitted under CCC’s Payment Guarantee.

  • A contractual commitment by the Foreign Financial Institution issuing the Letter of Credit in connection with an Eligible Export Sale to make payment(s) on principal amount(s), plus any Ordinary Interest and Post Default Interest, in U.S. dol- lars, to an Exporter or U.S. Financial Institution on deferred payment terms consistent with those permitted under CCC’s Payment Guarantee.

  • A contractualcommitment by the Foreign Financial Institution issuing the Letter of Credit in connection with an Eligible Export Sale to make payment(s) on principal amount(s), plus any Ordinary Interest and Post Default Interest, in U.S. dollars, to an Exporter or U.S. Financial Institution on deferred payment terms consistent with those permitted underCCC’s Payment Guarantee.

  • The Government was, and remains, strongly committed to the improvement of the education sector.

  • Interest (other than Post Default Interest) charged on the principal amount identified in the For- eign Financial Institution Letter of Credit or, if applicable, the Terms and Conditions Document.

  • The employee has the right to refuse to go on a business trip if the employer has not made an advance payment within a reasonable time.

  • Interest (other than Post Default Interest) charged on the principal amount identified in the For- eign Financial Institution Letter of Credit or, if applicable, the Terms and Conditions Document.Payment Guarantee.

Related to Post Default Interest

  • Default Interest means interest chargeable in terms of this Agreement to unpaid amounts or outstanding obligations which interest shall be calculated, from the due date until date of payment, on a daily balance and compounded monthly in arrear at an annual rate of two percent (2%) above the prevailing, variable prime rate publicly quoted by ABSA Bank Limited from time to time.

  • Post-Default Rate means, (a) in respect of any principal of any Loan or any Reimbursement Obligation, the rate otherwise applicable plus an additional two percent (2.0%) per annum, and (b) 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 plus two percent (2.0%).

  • Note Default Interest Spread means a rate per annum equal to three percent (3.0%); provided, however, that if the weighted average of the Senior Note Default Rate and the Note B Default Rate would exceed the maximum rate permitted by applicable law, the note default interest spread shall equal (i) the rate at which the weighted average of the Senior Note Default Rate and the Note B Default Rate equals the maximum rate permitted by applicable law minus (ii) the Mortgage Loan Rate.

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Default Interest Period means for any overdue amount of the Withdrawn Loan Balance, each Interest Period during which such overdue amount remains unpaid; provided, however, that the first such Default Interest Period shall commence on the 31st day following the date on which such amount becomes overdue, and the final such Default Interest Period shall end on the date at which such amount is fully paid.”

  • Net Default Charges With respect to any Mortgage Loan, Serviced Loan Combination or successor REO Mortgage Loan, the Default Charges referred to in clause third of Section 3.25(a) or clause fourth of Section 3.25(c), which are payable to the Master Servicer as Additional Master Servicing Compensation or the Special Servicer as Additional Special Servicing Compensation.

  • Default Fee means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1000 and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 2% above the Base Rate.

  • Loan Default means an event, which with the giving of notice or lapse of time or both, would become a Loan Event of Default.

  • Default Costs means reasonable attorney's fees and remarketing costs resulting from a Lessee default or Lessor's enforcement of its remedies. DELIVERY DATE - means date of delivery of Inventory Equipment to Lessee's address.

  • Payment Default has the meaning set forth in Section 5.4(a) of the Indenture.

  • Default Rate Interest is defined in Section 3.1(b)(ix) of this Agreement.

  • Non-default Rate means a rate per annum equal to the cost (without proof or evidence of any actual cost) to the Non-defaulting Party (as certified by it) if it were to fund the relevant amount.

  • Default Repayment Date means the settlement date set out by the Bond Trustee in a Default Notice requesting early redemption of the Bonds.

  • Non-Payment Default means any event (other than a Payment Default) the occurrence of which entitles one or more Persons to accelerate the maturity of any Designated Senior Indebtedness.

  • Default Under First Lien With respect to each Second Lien Loan, the related First Lien Loan related thereto is in full force and effect, and there is no default, breach, violation or event which would permit acceleration existing under such first Mortgage or Mortgage Note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration thereunder;

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Senior Payment Default means any default in the payment of principal of (or premium, if any) or interest on any Senior Debt of the Company when due, whether at the Stated Maturity of any such payment or by declaration of acceleration, call for redemption or otherwise. In the event that any Senior Nonmonetary Default (as defined below) shall have occurred and be continuing, then, upon the receipt by the Company, the Subsidiary Guarantors and the Trustee of written notice of such Senior Nonmonetary Default from the agent for the Designated Senior Debt which is the subject of such Senior Nonmonetary Default, no Securities Payment shall be made during the period (the “Payment Blockage Period”) commencing on the date of such receipt of such written notice and ending on the earlier of (i) the date on which such Senior Nonmonetary Default shall have been cured or waived or shall have ceased to exist or all Designated Senior Debt the subject of such Senior Nonmonetary Default shall have been discharged; (ii) the 179th day after the date of such receipt of such written notice; or (iii) the date on which the Payment Blockage Period shall have been terminated by written notice to the Company, any Subsidiary Guarantor or the Trustee from the agent for the Designated Senior Debt initiating the Payment Blockage Period; provided, however, that nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article Sixteen by delivering and crediting pursuant to Section 1602 Securities which have been acquired (upon redemption or otherwise) prior to the date of such receipt of such written notice. No more than one Payment Blockage Period may be commenced with respect to the Securities of a particular series during any 360-day period and there shall be a period of at least 181 consecutive days in each 360-day period when no Payment Blockage Period is in effect. For all purposes of this paragraph, no Senior Nonmonetary Default that existed or was continuing on the date of commencement of any Payment Blockage Period shall be, or be made, the basis for the commencement of a subsequent Payment Blockage Period, whether or not within a period of 360 consecutive days, unless such Senior Nonmonetary Default shall have been cured for a period of not less than 90 consecutive days.

  • Default Rate means an interest rate equal to (a) the Base Rate plus (b) the Applicable Rate, if any, applicable to Base Rate Loans plus (c) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, in each case to the fullest extent permitted by applicable Laws.

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Indenture Default With respect to any Indenture, means any Event of Default (as such term is defined in such Indenture).

  • Default Loan shall have the meaning provided in Section 5.2(b)(1).

  • Default Rate of Interest means the rate of interest otherwise payable on the principal of the Securities plus 1% per annum.