Common use of Rates Applicable After Default Clause in Contracts

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 4% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 4% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 9 contracts

Samples: Credit Agreement (Kite Realty Group, L.P.), Term Loan Agreement (Kite Realty Group, L.P.), Term Loan Agreement (Kite Realty Group, L.P.)

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Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable LIBOR Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 43% per annum and (ii) each Floating Base Rate Advance shall bear interest at a rate per annum equal to the Floating Base Rate otherwise applicable to the Floating Base Rate Advance plus 43% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 6 contracts

Samples: Senior Credit Agreement (Terreno Realty Corp), Senior Credit Agreement (Terreno Realty Corp), Senior Credit Agreement (Terreno Realty Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Administrative Agent or any Lender.

Appears in 6 contracts

Samples: Assignment Agreement (Cardinal Health Inc), Day Credit Agreement (Cardinal Health Inc), Assignment Agreement (Cardinal Health Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.02.3 or 2.102.02.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.05 requiring unanimous consent of affected the Lenders to changes in interest rates), during the continuance of an Event of Default declare that no Ratable Advance may be made as, converted into or continued as a LIBOR Rate Eurocurrency Ratable Advance. During the continuance of a Default the The Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.05 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (ia) overdue principal of and interest on each LIBOR Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 41% per annum and (iib) overdue principal of and interest on each Floating Base Rate Advance Advance, each Swing Line Loan and each Reimbursement Obligation shall bear interest at a rate per annum equal to the Floating Alternate Base Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 41% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 5 contracts

Samples: Credit Agreement (Emerson Electric Co), Credit Agreement (Emerson Electric Co), Credit Agreement (Emerson Electric Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 5 contracts

Samples: Credit Agreement (Roundys Inc), Assignment Agreement (Wam Net Inc), Credit Agreement (Ennis Business Forms Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Fixed Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 5 contracts

Samples: Credit Agreement (Inland Real Estate Corp), Credit Agreement (Inland Real Estate Corp), Credit Agreement (Inland Real Estate Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 5 contracts

Samples: Credit Agreement (Rli Corp), Credit Agreement (Rli Corp), Credit Agreement (Rli Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance Loans to Borrower may be made as, converted into or continued as a LIBOR Rate AdvanceEurodollar Loan. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (ia) each LIBOR Rate Advance Eurodollar Loan shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (iib) each Floating Rate Advance Loan shall bear interest at a rate per annum equal to the Floating Alternate Base Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, however, provided that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (a) and (b) above shall be applicable to all outstanding Loans to Borrower without any election or action on the part of the Agent or any Lender.

Appears in 4 contracts

Samples: Term Loan Agreement (Pepco Holdings Inc), Term Loan Agreement (Pepco Holdings Inc), Term Loan Agreement (Pepco Holdings Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.2.3 or 2.10Section 2.2.4, during the continuance of a Default or an Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance Ratable Loan may be made as, converted into or continued as a LIBOR Eurodollar Base Rate AdvanceLoan. During the continuance of a an Event of Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance Loan and all other amounts payable under the Loan Documents shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 4% per annum and Overdue Rate; provided that, during the continuance of an Event of Default under Sections 7.1, 7.7 or 7.8, any amount payable under the Loan Documents not paid when due (iiwhether at maturity, by reason of notice of prepayment or otherwise) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Overdue Rate otherwise applicable to without any election or action on the Floating Rate Advance plus 4% per annum; provided, however, that part of the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 Administrative Agent or 7.2, unless waived by the Required Lendersany Lender.

Appears in 4 contracts

Samples: Assignment Agreement (Washington Gas Light Co), Assignment Agreement (WGL Holdings Inc), Assignment Agreement (Washington Gas Light Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 4 contracts

Samples: Credit Agreement (Inland Western Retail Real Estate Trust Inc), Credit Agreement (Inland Western Retail Real Estate Trust Inc), Credit Agreement (Inland Western Retail Real Estate Trust Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 3 contracts

Samples: Three Year Credit Agreement (Coachmen Industries Inc), Credit Agreement (Coachmen Industries Inc), 364 Day Credit Agreement (Coachmen Industries Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurocurrency Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurocurrency Advance and Competitive Bid Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, however, that that, during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 3 contracts

Samples: Assignment Agreement (General Dynamics Corp), Credit Agreement (General Dynamics Corp), Assignment Agreement (General Dynamics Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Administrative Agent or any Lender.

Appears in 3 contracts

Samples: Credit Agreement (Vectren Corp), Credit Agreement (Ch Energy Group Inc), Credit Agreement (Kansas City Power & Light Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.6 or 2.102.7, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance Loan may be made as, converted into or continued as a LIBOR Fixed Rate AdvanceLoan. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Fixed Rate Advance Loan shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance Loan shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance Loan plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 3 contracts

Samples: Term Loan Agreement (Inland Real Estate Corp), Term Loan Agreement (Inland Real Estate Corp), Term Loan Agreement (Inland Real Estate Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section SECTION 2.9 or 2.10, during the continuance of a Default or Unmatured Default Default, the Required Lenders may, at their option, by written notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 SECTION 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued beyond its current term as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by prior written notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 SECTION 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable LIBOR Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum until such Default shall have been cured and (ii) each Floating Rate CBR Advance shall bear interest at a rate per annum equal to the Floating CBR Rate otherwise applicable to the Floating Rate CBR Advance plus 42% per annumannum until such Default shall have been cured; provided, however, provided that the Default Rate such rates shall become applicable automatically without notice to the Borrower if a Default occurs under Section 7.1 SECTION 8.7 or 7.2, unless waived by the Required LendersSECTION 8.8.

Appears in 3 contracts

Samples: Assignment Agreement (Centerpoint Properties Trust), Assignment Agreement (Centerpoint Properties Trust), Assignment Agreement (Centerpoint Properties Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 3 contracts

Samples: Assignment Agreement (Hutchinson Technology Inc), Assignment Agreement (TBC Corp), Credit Agreement (Kansas City Power & Light Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or an Unmatured Default pursuant to Section 7.2 or a Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate ABR Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Assignment Agreement (Ipc Holdings LTD), Credit Agreement (Ipc Holdings LTD)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the relevant Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Eurodollar Committed Advance, Eurodollar Bid Rate Advance or Absolute Rate Advance, as the case may be. During the continuance of a Default If any Advance is not paid at maturity, whether by acceleration or otherwise, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the affected Lenders to changes in interest rates), declare that (i) each LIBOR Eurodollar Committed Advance, Eurodollar Bid Rate Advance and Absolute Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Alternate Base Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate otherwise applicable to the Floating Alternate Base Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Assignment Agreement (Dynegy Inc), Credit Agreement (Dynegy Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 Sections 2.05(a), (e) or 2.10(f), during the continuance of a an Event of Default or Unmatured Event of Default the Required Lenders may, at their option, by notice to the Borrower (Company which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.10 requiring unanimous consent of affected the Lenders to changes in interest rates), ) declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a an Event of Default the Required Lenders may, at their option, by notice to the Borrower (Company which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.10 requiring unanimous consent of affected the Lenders to changes in interest rates), ) declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the continuance of an Event of Default Rate shall become applicable automatically if a Default occurs under Section 7.1 7.01(d), the interest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or 7.2, unless waived by action on the Required Lenderspart of the Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Valley National Gases Inc), Credit Agreement (Valley National Gases Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance continuation of a Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Xeta Corp), Assignment Agreement (Xeta Technologies Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, however, provided that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lenders.interest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender. 2.13

Appears in 2 contracts

Samples: Credit Agreement (Pepco Holdings Inc), Credit Agreement (Pepco Holdings Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that for the duration of such Default (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Washington Real Estate Investment Trust), Credit Agreement (Washington Real Estate Investment Trust)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.2.5 or 2.102.2.6, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 4plus, to the extent permitted by law, 2% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 4plus, to the extent permitted by law, 2% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.2, unless waived by 7.7 the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Loan Agreement (Richardson Electronics LTD/De), Loan Agreement (Richardson Electronics LTD/De)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.10, 2.11 or 2.102.12, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Swingline Loan and each Base Rate Advance shall bear interest at a rate per annum equal to the Floating Base Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.1.6 or 7.27.1.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Administrative Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Sei Investments Co), Credit Agreement (Sei Investments Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance Borrowing may be made as, converted into or continued as a LIBOR Fixed Rate AdvanceBorrowing. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Fixed Rate Advance Borrowing shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance Borrowing shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance Borrowing plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Secured Term Loan Agreement (Developers Diversified Realty Corp), Secured Term Loan Agreement (Developers Diversified Realty Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.2.3 or 2.10Section 2.2.4, during the continuance of a Default or Unmatured Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 41.5% per annum and or (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to time, plus the Floating Base Rate Advance Margin, plus 41.5% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.7 or 7.27.8, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Administrative Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Madison Gas & Electric Co), Credit Agreement (Madison Gas & Electric Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10herein, during the continuance existence of a Default or Unmatured Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance existence of a Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance and Swing Line Loan shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if existence of a Default occurs under Section 7.1 7.1.6 or 7.27.1.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances and Swing Line Loans without any election or action on the part of the Administrative Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Southwestern Energy Co), Credit Agreement (Southwestern Energy Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Eurodollar Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Eurodollar Interest Period plus 42% per annum and (ii) each Floating Alternate Base Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Assignment Agreement (Platinum Technology Inc), Assignment Agreement (Platinum Technology International Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 43% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 43% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Clark/Bardes Holdings Inc), Credit Agreement (Clark/Bardes Holdings Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.2.3 or 2.10Section 2.2.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default any such Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance (and any Eurodollar Advance which is not paid at the end of the applicable Interest Period) shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all applicable Advances without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Credit Agreement (Portland General Electric Co /Or/), Credit Agreement (Portland General Electric Co /Or/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Fixed Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Inland Retail Real Estate Trust Inc), Credit Agreement (Inland Retail Real Estate Trust Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default If any Advance is not paid at maturity, whether by acceleration or otherwise, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Northland Cable Properties Four LTD Partnership), Credit Agreement (Northland Cable Television Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Eurodollar Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Eurodollar Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Assignment Agreement (Superior Energy Services Inc), Credit Agreement (Superior Energy Services Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.9, 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurocurrency Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to time plus 2% per annum and the Floating Rate Advance plus 4LC Fee shall be increased by 2% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lenders.interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee set forth in clause (iii) above

Appears in 2 contracts

Samples: Credit Agreement (Kimball International Inc), Credit Agreement (Kimball International Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.10, 2.11 or 2.102.12, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued beyond its current term as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate ABR Advance shall bear interest at a rate per annum equal to the Floating ABR Rate otherwise applicable to the Floating Rate ABR Advance plus 42% per annum; provided, however, provided that the Default Rate such rates shall become applicable automatically without notice to the Borrower or an election or action by the Administrative Agent or any Lender if a Default occurs under Section 7.1 8.7 or 7.2Section 8.8, or a Default occurs relating to the payment of principal or interest unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Term Loan Agreement (Duke Realty Limited Partnership/), Term Loan Agreement (Duke Realty Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 11.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a Eurodollar Advance. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of an Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 11.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance may be made as or converted into a Eurodollar Advance. During the continuance of a Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 11.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Credit Agreement (U S Home Corp /De/), Credit Agreement (U S Home Corp /De/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10this Article II, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued (after the expiration of the current Interest Period or Absolute Rate Interest Period) as a LIBOR Fixed Rate Advance. During the continuance of a Default If any Advance is not paid at maturity, whether by acceleration or otherwise, the Required Lenders may, at their option, by notice to the Borrower Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders as to changes in and interest rates), ) declare that (i) each LIBOR Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Meritor Automotive Inc), Credit Agreement (Meritor Automotive Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.3.5 or 2.102.3.6, during the continuance of a Default or Unmatured Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Committed Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Assignment Agreement (Firstar Corp /Wi/), Credit Agreement (Firstar Corp /Wi/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Fixed Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Secured Term Loan Agreement (Developers Diversified Realty Corp), Credit Agreement (Developers Diversified Realty Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate RateSOFR Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that (i) each LIBOR Rate RateTerm SOFR Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate Raterate otherwise applicable to such LIBOR Rate RateTerm SOFR Advance for such Interest Period plus 4% per annum and (ii) each Floating Rate Advance and each Daily Simple SOFR Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance Advancein effect from time to time plus 4% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Term Loan Agreement (Kite Realty Group, L.P.), Credit Agreement (Kite Realty Group, L.P.)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Eurodollar Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Eurodollar Interest Period plus 43% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 43% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Assignment Agreement (Unifab International Inc), Assignment Agreement (Osca Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.7 or 2.102.8, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of affected the Lenders to changes reductions in interest rates), declare that no Revolving Credit Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of affected the Lenders to changes reductions in interest rates), declare that (ia) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (iib) each Floating Alternate Base Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 8.6 or 7.28.7, unless waived by the Required Lendersinterest rates set forth in clauses (a) and (b) above shall be applicable to all Revolving Credit Advances without any election or action on the part of the Agent or any Lender.

Appears in 2 contracts

Samples: Assignment Agreement (Navigators Group Inc), Assignment Agreement (Navigators Group Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.11 or 2.102.12, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Fixed Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Inland Real Estate Corp), Credit Agreement (Inland Real Estate Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) annum, each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to time plus 2% per annum and the Floating Letter of Credit Fee Rate Advance plus 4shall be increased by 2% per annum; providedprovided that, however, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above and the increase in the Letter of Credit Fee Rate set forth in clause (iii) above shall be applicable to all applicable Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Year Credit Agreement (Kansas City Power & Light Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (ia) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (iib) each Floating Rate ABR Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.4, 7.5 or 7.27.6, unless waived by the Required Lendersinterest rates set forth in clauses (a) and (b) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (State Auto Financial Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable LIBOR Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Developers Diversified Realty Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.7 or 2.102.8, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable LIBOR Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 43% per annum and (ii) each Floating Base Rate Advance shall bear interest at a rate per annum equal to the Floating Base Rate otherwise applicable to the Floating Base Rate Advance plus 43% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Senior Secured Term Loan Agreement (Terreno Realty Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Assignment Agreement (Ramco Gershenson Properties Trust)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Eurodollar Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Eurodollar Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Assignment Agreement (Banknorth Group Inc /New/ /De/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Alternate Base Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Lafarge Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to time plus 2% per annum and (iii) the Floating Rate Advance plus 4LC Fee shall be increased by 2% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee set forth in clause (iii) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Actuant Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.2.3 or 2.102.2.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower Astec (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Borrower Astec (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (ia) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (iib) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders. Swing Line Loans.

Appears in 1 contract

Samples: Credit Agreement (Astec Industries Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.02.3 or 2.102.02.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.05 requiring unanimous consent of affected the Lenders to changes in interest rates), during the continuance of an Event of Default declare that no Ratable Advance may be made as, converted into or continued as a LIBOR Rate Eurocurrency Ratable Advance. During the continuance of a Default the The Required Lenders may, at their option, by notice to the Borrower Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.05 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (ia) overdue principal of and interest on each LIBOR Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 41% per annum and (iib) overdue principal of and interest on each Floating Base Rate Advance Advance, each Swing Line Loan and each Reimbursement Obligation shall bear interest at a rate per annum equal to the Floating Alternate Base Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 41% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (Emerson Electric Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default Default, the Required Lenders may, at their option, by written notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued beyond its current term as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by prior written notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable LIBOR Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum until such Default shall have been cured and (ii) each Floating Rate Prime Advance shall bear interest at a rate per annum equal to the Floating Adjusted Prime Rate otherwise applicable to the Floating Rate Prime Advance plus 42% per annumannum until such Default shall have been cured; provided, however, provided that the Default Rate such rates shall become applicable automatically without notice to the Borrower if a Default occurs under Section 7.1 8.7 or 7.2, unless waived by the Required LendersSection 8.8.

Appears in 1 contract

Samples: Revolving Credit Agreement (Centerpoint Properties Trust)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower AMS (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower AMS (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 4% per annum and (ii) each Floating Rate Advance Loan shall bear interest at a rate per annum equal to the higher of the Eurodollar Rate or the Floating Rate otherwise then in effect, plus the applicable margin then in effect from time to the Floating Rate Advance time, plus 42.00% per annum; provided, however, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rate set forth above shall be applicable to all Loans without any election or action on the part of the Agent or any Lender."

Appears in 1 contract

Samples: Credit Agreement (American Medical Security Group Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Eurodollar Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Eurodollar Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders. 2.12.

Appears in 1 contract

Samples: Term Loan Agreement (Banknorth Group Inc /New/ /De/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower AMS (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower AMS (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 4% per annum and (ii) each Floating Rate Advance Loan shall bear interest at a the then applicable rate per annum equal in effect from time to the Floating Rate otherwise applicable to the Floating Rate Advance time plus 42.00% per annum; provided, however, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rate set forth above shall be applicable to all Loans without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (American Medical Security Group Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.2.3 or 2.10Section 2.2.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.7 or 7.27.8, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (Madison Gas & Electric Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10herein, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section ofSection 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance and each Swing Line Loan shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.1.6 or 7.27.1.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances and Swing Line Loans without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (Southwestern Energy Co)

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Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Event of Default the Required Lenders may, at their option, by notice to the Borrower Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 12.5 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar or Eurocurrency Advance. During the continuance of a Default an Event of Default, the Required Lenders may, at their option, by notice to the Borrower Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 12.5 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that each Advance (iincluding each Multicurrency Advance) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 4% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal the Overdue Rate, provided that each Advance (including each Multicurrency Advance) shall automatically bear interest at the Overdue Rate in connection with any Default pursuant to the Floating Rate otherwise applicable to the Floating Rate Advance plus 4% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 9.1(g) or 7.2, unless waived by the Required Lenders9.1(h).

Appears in 1 contract

Samples: Credit Agreement (Lason Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 SECTION 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued beyond its current term as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 SECTION 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate CBR Advance shall bear interest at a rate per annum equal to the Floating CBR Rate otherwise applicable to the Floating Rate CBR Advance plus 42% per annum; provided, however, provided that the Default Rate such rates shall become applicable automatically without notice to the Borrower if a Default occurs under Section 7.1 SECTION 8.7 or 7.2, unless waived by the Required LendersSECTION 8.8.

Appears in 1 contract

Samples: Revolving Credit Agreement (Duke Weeks Realty Limited Partnership)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.102.8, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default If any Advance is not paid at maturity, whether by acceleration or otherwise, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Eurodollar Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Eurodollar Interest Period plus 42% per annum and (ii) each Floating Base Rate Advance shall bear interest at a rate per annum equal to the Floating Alternate Base Rate otherwise applicable to the Floating Base Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Guaranty Agreement (NGC Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.11 or 2.102.12, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable LIBOR Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 43% per annum and (ii) each Floating Base Rate Advance shall bear interest at a rate per annum equal to the Floating Rate - 24 - rate otherwise applicable to the Floating Base Rate Advance plus 43% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (Inland Diversified Real Estate Trust, Inc.)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 11.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a Eurodollar Advance. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of an Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 11.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance may be made as or converted into a Eurodollar Advance. During the continuance of a Default, the Required Lenders may, at their option, by notice to the Borrower (which notice maybe revoked at the option of the Required Lenders notwithstanding any provision of Section 11.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (U S Home Corp /De/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.101.7, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.1 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default under Section 7.1(a) the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.1 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverPROVIDED that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.1(f) or 7.27.1(g), unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Lasalle Partners Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.3 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 8.3 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Vectren Utility Holdings Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.2.3 or 2.10Section 2.2.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 41% per annum and and/or (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 41% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.7 or 7.27.8, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all applicable Advances without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Madison Gas & Electric Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance Borrowing may be made as, converted into or continued as a LIBOR Fixed Rate AdvanceBorrowing. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Fixed Rate Advance Borrowing shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance Borrowing shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance Borrowing plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (Developers Diversified Realty Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.2.3 or 2.10Section 2.2.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance Loan may be made as, converted into or continued as a LIBOR Rate AdvanceEurodollar Loan. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance Eurodollar Loan shall bear interest for the remainder of the applicable Interest Period at the LIBOR Alternate Base Rate otherwise applicable in effect from time to such LIBOR Rate Advance for such Interest Period time plus 42% per annum annum, and (ii) each Floating Rate Advance Loan shall bear interest at a rate per annum equal to the Floating Alternate Base Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; providedprovided that, however, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Puget Sound Energy Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.2.3 and 2.2.4, no Advance may be made as, converted into or 2.10, during continued as a Eurodollar Ratable Advance (except with the consent of the Administrative Agent and the Required Lenders) when any Default or Unmatured Default has occurred and is continuing. During the continuance of a Default or Unmatured Default Default, the Required Lenders may, at their option, by notice to the Borrower Midas (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no each Eurodollar Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that (i) each LIBOR and Alternate Base Rate Advance shall bear interest during the continuance of such Default (and, if applicable, for the remainder of the applicable Interest Period at in the LIBOR case of Eurodollar Advances and Absolute Rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 4% per annum and (iiAdvances) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate rate otherwise applicable to the Floating Rate Advance plus 4% one percent (1%) per annum; provided, however, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.Section

Appears in 1 contract

Samples: Credit Agreement (Midas Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annumannum and (iii) the Facility Letter of Credit Fee shall be increased to a rate equal to 2% above the Facility Letter of Credit Fee that would otherwise be applicate at such time; provided, however, that the Default Rate and the increase in the Facility Letter of Credit Fee shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (RPT Realty)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 or 7.2, unless waived by 7.6 or 7.7, the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (Interstate Energy Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section Sections 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 Sections 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Petroquest Energy Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.2.3 or 2.102.2.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower Astec (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Borrower Astec (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (ia) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (iib) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (Astec Industries Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.2.3 or 2.10Section 2.2.4, during the continuance of a Default or Unmatured Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Term SOFR Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Term SOFR Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 41.5% per annum and or (ii) each Floating Base Rate Advance shall bear interest at a rate per annum equal to the Floating Base Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 41.5% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.7 or 7.27.8, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Madison Gas & Electric Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.11 or 2.102.12, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable LIBOR Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 43% per annum and (ii) each Floating Base Rate Advance shall bear interest at a rate per annum equal to the Floating Rate rate otherwise applicable to the Floating Base Rate Advance plus 43% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (Inland Diversified Real Estate Trust, Inc.)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.7 or 2.102.8, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Assignment Agreement (Pp&l Resources Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.2.3 or 2.10Section 2.2.4, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 41% per annum and and/or (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 41% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.7 or 7.27.8, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Loans without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Mge Energy Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each a LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum annum, and (ii) each a Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (Chateau Communities Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 SECTION 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 SECTION 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued beyond its current term as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 SECTION 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable LIBOR Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate CBR Advance shall bear interest at a rate per annum equal to the Floating CBR Rate otherwise applicable to the Floating Rate CBR Advance plus 42% per annum; provided, however, provided that the Default Rate such rates shall become applicable automatically without notice to the Borrower if a Default occurs under Section 7.1 SECTION 8.7 or 7.2, unless waived by the Required LendersSECTION 8.8.

Appears in 1 contract

Samples: Revolving Credit Agreement (Duke Weeks Realty Limited Partnership)

Rates Applicable After Default. Notwithstanding anything to the ------------------------------ contrary contained in Section 2.9 or 2.10, during the continuance of a Default ----------- ---- or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the ----------- Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the ----------- Lenders to changes in interest rates), declare that for the duration of such Default (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate CBR Advance shall bear interest at a rate per annum equal to the Floating CBR Rate otherwise applicable to the Floating Rate CBR Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Assignment Agreement (Washington Real Estate Investment Trust)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Fixed Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.. 2.13

Appears in 1 contract

Samples: Credit Agreement (Inland Retail Real Estate Trust Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default Default, the Required Lenders may, at their option, by notice to the Borrower Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default Default, the Required Lenders may, at their option, by notice to the Borrower Borrowers (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate overdue Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum annum, and (ii) each overdue Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, however, that that, during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Administrative Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Vectren Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.10 or 2.102.11, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued beyond its current term as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 9.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable LIBOR Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate ABR Advance shall bear interest at a rate per annum equal to the Floating ABR Rate otherwise applicable to the Floating Rate ABR Advance plus 42% per annum; provided, however, provided that the Default Rate such rates shall become applicable automatically without notice to the Borrower if a Default occurs under Section 7.1 8.7 or 7.2, unless waived by the Required LendersSection 8.8.

Appears in 1 contract

Samples: Revolving Credit Agreement (Duke Realty Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring 11.2 Requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a Eurodollar Advance. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of an Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 11.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that no Advance may be made as or converted into a Eurodollar Advance. During the continuance of a Default, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 11.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (U S Home Corp /De/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (Developers Diversified Realty Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.7 or 2.102.8, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR the Default Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 4% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 4% per annum; apply, provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders. In addition, Borrower shall pay, upon demand, a late charge equal to five percent (5%) of any amount of interest and/or principal payable on the Loans or any other amounts payable hereunder or under the other Loan Documents which is not paid within ten (10) days of the date when due.

Appears in 1 contract

Samples: Assignment Agreement (Glimcher Realty Trust)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Credit Agreement (Petroquest Energy Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 4% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 4% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (Retail Properties of America, Inc.)

Rates Applicable After Default. Notwithstanding anything to the ------------------------------ contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by written notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by written notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Acquisition Credit Agreement (Transit Group Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued at the end of the applicable Interest Period as a LIBOR Rate Eurocurrency Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring consent of affected Lenders to changes in interest rates)Borrower, declare that (ia) each LIBOR Rate Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (iib) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived the interest rates set out in clauses (a) and (b) above shall be applicable to all Credit Extensions without any election or action on the part of the Administrative Agent or any Lender. Any notice given by Required Lenders under this Section 2.13 may be revoked by Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the Required LendersLenders to changes in interest rates.

Appears in 1 contract

Samples: Credit Agreement (Cooper Cameron Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Eurodollar Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in Table of Contents interest rates), declare that (i) each LIBOR Rate Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum annum, and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.6 or 7.27.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender.

Appears in 1 contract

Samples: Bridge Loan Agreement (Cintas Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the relevant Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Fixed Rate Advance. During the continuance of a Default If any Advance is not paid at maturity, whether by acceleration or otherwise, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of the affected Lenders to changes in interest rates), declare that (i) each LIBOR Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (NGC Corp)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or 2.10, during the continuance of a Default the Agent or Unmatured Default the Required Lenders may, at their option, by written notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance Loan may be made as, converted into or continued as a LIBOR Rate AdvanceEurodollar Loan. During the continuance of a Default Default, Agent or the Required Lenders may, at their option, by written notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Advance Eurodollar Loan shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance Loan shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Possession Credit Agreement (Ual Corp /De/)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 2.8 or 2.102.9, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each a LIBOR Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum annum, and (ii) each a Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 42% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Credit Agreement (Chateau Communities Inc)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Eurodollar Advance or a Transaction Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Eurodollar Advance and Transaction Rate Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 42% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable in effect from time to the Floating Rate Advance time plus 42% per annum; provided, howeverprovided that, that during the Default Rate shall become applicable automatically if continuance of a Default occurs under Section 7.1 7.1.6 or 7.27.1.7, unless waived by the Required Lendersinterest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of either Agent or any Lender.

Appears in 1 contract

Samples: Assignment Agreement (Southwestern Energy Co)

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.9 or 2.10, during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that no Advance may be made as, converted into or continued as a LIBOR Rate SOFR Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous consent of affected the Lenders to changes in interest rates), declare that (i) each LIBOR Rate Term SOFR Advance shall bear interest for the remainder of the applicable Interest Period at the LIBOR Rate rate otherwise applicable to such LIBOR Rate Advance for such Interest Period plus 43% per annum and (ii) each Floating Daily Simple SOFR Advance or Base Rate Advance shall bear interest at a rate per annum equal to the Floating rate otherwise applicable to Daily Simple SOFR loans or the Base Rate otherwise applicable to the Floating Base Rate Advance Advance, respectively, in each case, plus 43% per annum; provided, however, that the Default Rate shall become applicable automatically if a Default occurs under Section 7.1 or 7.2, unless waived by the Required Lenders.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

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