Common use of Amounts Not Overdue Clause in Contracts

Amounts Not Overdue. During the continuance of a Default or an Event of Default, until such Default or Event of Default has been cured or remedied or such Default or Event of Default has been waived by the Lenders or the Required Lenders pursuant to Section 16.12, (a) the principal of the Revolving Credit Loans not overdue shall, bear interest at a rate per annum equal to two percent (2.00%) above the rate of interest otherwise applicable, and (b) the Applicable Margin applicable to Letter of Credit Fees shall be equal to two percent (2.00%) above the Letter of Credit Fee otherwise applicable.

Amounts Not Overdue. During the continuance of a Default or an Event of Default, Default (other than any default with respect to payment of principal hereunder) until such Default or Event of Default has been cured or remedied or such Default or Event of Default has been waived by the Lenders or the Required Lenders pursuant to Section 16.12§15.12, at election of the Required Lenders, (a) the principal of the Revolving Credit Loans not overdue shall, shall bear interest at a rate per annum equal to two percent (2.002%) above the rate of interest otherwise applicable, then applicable thereto and (b) the Applicable Margin applicable to Letter of Credit Fees shall be equal to two percent (2.002%) above the Letter of Credit Fee otherwise applicableapplicable to such Letter of Credit pursuant to §4.6.