Common use of Acceleration Interest Clause in Contracts

Acceleration Interest. In addition to any late payment charge which may be due under the Note, Grantor shall pay interest on all sums due hereunder at a rate (the "Default Rate") equal to the lesser of (i) the interest rate set forth in the Note plus four percent (4%) per annum, or (ii) the maximum rate permitted by law, from and after the first to occur of the following events: if Grantee elects to cause the acceleration of the Indebtedness; if a petition under Xxxxx 00, Xxxxxx Xxxxxx Code, shall be filed by or against Grantor or if Grantor shall seek or consent to the appointment of a receiver or trustee for itself or for any of the Security, file a petition seeking relief under the bankruptcy or other similar laws of the United States, any state or any jurisdiction, make a general assignment for the benefit of creditors, or be unable to pay its debts as they become due; if a court shall enter an order, judgment or decree appointing, with or without the consent of Grantor, a receiver or trustee for it or for any of the Security or approving a petition filed against Grantor which seeks relief under the bankruptcy or other similar laws of the United States, any state or any jurisdiction, and any such order, judgment or decree shall remain in force, undischarged or unstayed, sixty (60) days after it is entered; or if all sums due hereunder are not paid on the Maturity Date as set forth in the Note.

Acceleration Interest. In addition to any late payment charge which may be due under the Note, Grantor Mortgagors shall pay interest on all sums due hereunder at a rate (the "Default Rate") equal to the lesser of (i) the interest rate set forth in the Note plus four percent (4%) per annum, or (ii) the maximum rate permitted by law, from and after the first to occur of the following events: if Grantee (A) Mortgagee elects in writing to cause the acceleration of the Indebtedness; if (B) a petition under Xxxxx 00, Xxxxxx Xxxxxx Code, shall be filed by or against Grantor any Mortgagor or if Grantor any Mortgagor shall seek or consent to the appointment of a receiver or trustee for itself or for any of the Security, file a petition seeking relief under the bankruptcy or other similar laws of the United States, any state or any other jurisdiction, make a general assignment for the benefit of creditors, or be is generally unable to pay its debts as they become due; if (C) a court shall enter an order, judgment or decree appointing, with or without the consent of Grantorany Mortgagor, a receiver or trustee for it or for any of the Security or approving a petition filed against Grantor any Mortgagor which seeks relief under the bankruptcy or other similar laws of the United States, any state or any other jurisdiction, and any such order, judgment or decree shall remain in force, undischarged or unstayed, sixty ninety (6090) days after it is entered; or (D) if all sums due hereunder are not paid on the Maturity Date as set forth in the Note.

Acceleration Interest. In addition to any late payment charge which may be due under the Note, Grantor Mortgagor shall pay interest on all sums due hereunder at a rate (the "“Default Rate"”) equal to the lesser of (i) the interest rate set forth in the Note Interest Rate plus four three percent (43%) per annum, or (ii) the maximum rate permitted by law, from and after the first to occur of the following events: if Grantee (A) Mortgagee sends notice to Mortgagor that it elects to cause the acceleration of the Indebtedness; if (B) a petition under Xxxxx 00, Xxxxxx Xxxxxx Code, shall be filed by or against Grantor Mortgagor or if Grantor Mortgagor shall seek or consent to the appointment of a receiver or trustee for itself or for any of the Security, file a petition seeking relief under the bankruptcy or other similar laws of the United States, any state or any other jurisdiction, make a general assignment for the benefit of creditors, or be unable to pay its debts as they become due; if (C) a court shall enter an order, judgment or decree appointing, with or without the consent of GrantorMortgagor, a receiver or trustee for it or for any of the Security or approving a petition filed against Grantor Mortgagor which seeks relief under the bankruptcy or other similar laws of the United States, any state or any other jurisdiction, and any such order, judgment or decree shall remain in force, undischarged or unstayed, sixty (60) days after it is entered; or (D) if all sums due hereunder are not paid on the Maturity Date (as set forth defined in the Note).

Acceleration Interest. In addition to any late payment charge which may be due under the Note, Grantor Mortgagor shall pay interest on all sums due hereunder at a rate (the "Default Rate") equal to the lesser of (i) the interest rate set forth in the Note plus four percent (4%) per annum, or (ii) the maximum rate permitted by law, from and after the first to occur of the following events: if Grantee (A) Mortgagee elects in writing to cause the acceleration of the Indebtedness; if (B) a petition under Xxxxx 00, Xxxxxx Xxxxxx Code, shall be filed by or against Grantor Mortgagor or if Grantor Mortgagor shall seek or consent to the appointment of a receiver or trustee for itself or for any of the Security, file a petition seeking relief under the bankruptcy or other similar laws of the United States, any state or any other jurisdiction, make a general assignment for the benefit of creditors, or be is generally unable to pay its debts as they become due; if (C) a court shall enter an order, judgment or decree appointing, with or without the consent of GrantorMortgagor, a receiver or trustee for it or for any of the Security or approving a petition filed against Grantor Mortgagor which seeks relief under the bankruptcy or other similar laws of the United StatesXxxxxx Xxxxxx, any state or any other jurisdiction, and any such order, judgment or decree shall remain in force, undischarged or unstayed, sixty ninety (6090) days after it is entered; or (D) if all sums due hereunder are not paid on the Maturity Date as set forth in the Note.