Common use of Amounts Not Overdue Clause in Contracts

Amounts Not Overdue. During the continuance of an Event of Default the principal of the Revolving Credit Loans not overdue shall, until such Event of Default has been cured or remedied or such Event of Default has been waived by the Majority Banks pursuant to (S)25, bear interest at a rate per annum equal to two percent (2%) above the rate of interest otherwise applicable to such Revolving Credit Loans pursuant to (S)2.5.

Appears in 1 contract

Samples: Revolving Credit Agreement (Varian Semiconductor Equipment Associates Inc)

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Amounts Not Overdue. During the continuance of an any Event of Default and so long as the Banks have not accelerated the entire outstanding principal amount of the Revolving Credit Loans, the principal of the Revolving Credit Loans not overdue shall, until such Event of Default has been cured or remedied or such Event of Default has been waived by the Majority Banks pursuant to (S)25ss.25 hereof, bear interest at a rate per annum equal to two percent (2%) 1.5% above the rate of interest otherwise applicable to such Revolving Credit Loans pursuant to (S)2.5ss.2.5 hereof.

Appears in 1 contract

Samples: Revolving Credit Agreement (Freedom Securiteis Corp /De/)

Amounts Not Overdue. During the continuance of a Default or an Event of Default the principal of the Revolving Credit Loans not overdue shall, until such Default or Event of Default has been cured or remedied or such Default or Event of Default has been waived by the Majority Banks pursuant to (S)25ss.26, bear interest at a rate per annum equal to two percent (2%) above the rate of interest otherwise applicable to such Revolving Credit Loans pursuant to (S)2.5.ss.2.5. 40 -34-

Appears in 1 contract

Samples: Revolving Credit Agreement (Brooks Automation Inc)

Amounts Not Overdue. During the continuance of an Event of Default under ss.13.1(c) as it relates to ss.10, the principal of the Revolving Credit Loans not overdue shall, until such Default or Event of Default has been cured or remedied or such Default or Event of Default has been waived by the Majority Banks pursuant to (S)25ss.26, bear interest at a rate per annum equal to two percent (2%) above the highest rate of interest otherwise applicable to such Revolving Credit Loans pursuant to (S)2.5ss.2.5.

Appears in 1 contract

Samples: Revolving Credit Agreement (Holmes Products Corp)

Amounts Not Overdue. During the continuance of an Event of Default the principal of the Revolving Credit Loans not overdue shall, until such Event of Default has been cured or remedied or such Event of Default has been waived by the Majority Banks Required Lenders pursuant to (S)25ss.16.12, bear interest at a rate per -38- annum equal to two percent (2%) above the rate of interest otherwise applicable to such Revolving Credit Loans pursuant to (S)2.5ss.2.5.

Appears in 1 contract

Samples: Revolving Credit Agreement (Peregrine Systems Inc)

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Amounts Not Overdue. During the continuance of an Event of Default the principal of the Revolving Credit Loans not overdue shall, until such Event of Default has been cured or remedied or such Event of Default has been waived by the Majority Banks Lenders pursuant to (S)25ss.26, bear interest at a rate per annum equal to the greater of (i) two percent (22.00%) above the rate of interest otherwise applicable to such Revolving Credit Loans pursuant to ss.2.5 and (S)2.5ii) the rate of interest applicable to overdue principal pursuant to ss.5.12.1.

Appears in 1 contract

Samples: Revolving Credit Agreement (Century Aluminum Co)

Amounts Not Overdue. During the continuance of an Event of Default the principal of the Revolving Credit Loans not overdue shall, until such Event of Default has been cured or remedied or such Event of Default has been waived by the Majority Banks pursuant to (S)25ss.26, bear interest at a rate per annum equal to two four percent (24%) above the interest rate of interest otherwise applicable to such Revolving Credit Loans pursuant to (S)2.5ss.2.5.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ionics Inc)

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