Common use of Committed Amount Clause in Contracts

Committed Amount. (1) Except during any period of time in which an Event of Default then exists, interest shall accrue on the unpaid principal balance of all Advances under the Tranche 3 Committed Amount at the per annum rate of ten and 50/100 percent (10.5%) fixed. Upon the occurrence of an Event of Default, interest shall thereafter accrue on the unpaid principal balance of all Advances under the Loan at the Default Rate in accordance with Section 2.5(b).

Committed Amount. (1) Except during any period of time in which an Event of Default then exists, interest shall accrue on the unpaid principal balance of all Advances under the Tranche 3 2 Committed Amount at the per annum Tranche 1 Applicable Rate then in effect, which shall be subject to scheduled annual interest rate of ten and 50/100 percent (10.5%) fixedincreases as provided for in Section 2.3(a). Upon the occurrence of an Event of Default, interest shall thereafter accrue on the unpaid principal balance of all Advances under the Loan at the Default Rate in accordance with Section 2.5(b).