Default Interest; Alternate Rate of Interest. (a) If the Borrower shall default in the payment of the principal of, or interest on any Loan becoming due hereunder, whether at stated maturity, by acceleration or otherwise, or the payment of any other amount becoming due hereunder after written notification from the Lender to the Borrower of such amount, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on all Loans and overdue amounts outstanding up to the date of actual payment of such defaulted amount (after as well as before judgment) (i) for the remainder of the then current Interest Period for each Eurodollar Loan, at 2% in excess of the rate then in effect for each such Eurodollar Loan and (ii) for all periods subsequent to the then current Interest Period for each Eurodollar Loan, for all Alternate Base Rate Loans and for all other overdue amounts hereunder, at 2% in excess of the rate then in effect for Alternate Base Rate Loans.
Default Interest; Alternate Rate of Interest. (a) So long as an Event of Default shall have occurred and be continuing (after, as well as before a judgment), the Borrower shall on demand from time to time pay interest, to the extent permitted by Applicable Law, on any then unpaid amount of the Obligations at a rate per annum (i) for the remainder of the then current Interest Period for each Eurodollar Loan, equal to 2% in excess of the rate then in effect for such Eurodollar Loan and (ii) for all periods subsequent to the then current Interest Period for each Eurodollar Loan, for all Alternate Base Rate Loans and for all other overdue amounts hereunder, equal to 2% in excess of the rate then in effect for Alternate Base Rate Loans.
Default Interest; Alternate Rate of Interest. (a) So long as an Event of Default shall have occurred and be continuing, the Borrower shall on demand from time to time pay interest, to the extent permitted by Applicable Law, on any then unpaid amount of the Obligations at a rate per annum of 2% in excess of the rate otherwise in effect (computed as aforesaid).
Default Interest; Alternate Rate of Interest. (a) In the event that, and for so long as, any Event of Default shall have occurred and be continuing, the Borrower shall on demand from time to time pay interest, to the extent permitted by Applicable Law, on all Loans and overdue amounts outstanding up to (but not including) the date of actual payment of such Loan or overdue amount (after as well as before judgment) (i) for the remainder of the then current Interest Period for each Eurodollar Loan, at 3% in excess of the rate then in effect for each such Eurodollar Loan (it being understood by the parties hereto that no Eurodollar Loan may be continued into a subsequent Interest Period and no Base Rate Loan may be converted to a Eurodollar Loan, at any time when an Event of Default shall have occurred and then be continuing unless the Administrative Agent and the Required Lenders otherwise consent), (ii) for all periods subsequent to the then current Interest Period for each Eurodollar Loan and for all Base Rate Loans of a certain type (i.e., Revolving Loan or Term Loan), at 3% in excess of the rate then in effect for Base Rate Loans of the same type and (iii) for all other overdue amounts hereunder, at 3% in excess of the rate then in effect for Base Rate Loans that are Revolving Loans; provided, however, that if an Event of Default is waived by -------- ------- the applicable Lenders in accordance with the terms of this Credit Agreement, then the provisions of this Section 2.8(a) shall also be deemed waived from and after the effective date of the applicable waiver.
Default Interest; Alternate Rate of Interest. (a) If the Borrower shall default in the payment when due of the principal of, or interest on any Loan becoming due hereunder, whether at stated maturity, by acceleration or otherwise, or the payment of any other amount becoming due hereunder after written notification from the Administrative Agent to the Borrower of such amount, the Borrower shall on demand in writing from time to time pay interest, to the extent permitted by Applicable Law, on all overdue amounts outstanding from the due date thereof up to the date of actual payment of such defaulted amount (after as well as before judgment) (i) for the overdue principal or interest in respect of any LIBOR Loan, at 2% in excess of the rate then in effect for each such LIBOR Loan, and (ii) for the overdue principal or interest in respect of any Alternate Base Rate Loan and for all other overdue amounts hereunder, at 2% in excess of the rate then in effect for Alternate Base Rate Loans.
Default Interest; Alternate Rate of Interest. (a) So long as an Event of Default shall have occurred and be continuing (after, as well as before judgment), the Borrowers shall on demand from time to time pay interest, to the extent permitted by Applicable Law, on any then unpaid amount of the Obligations at a rate per annum (i) for the remainder of the then current Interest Period for each Eurodollar Loan, at 2% in excess of the rate then in effect for each such Eurodollar Loan, (ii) for all Canadian Prime Rate Loans, at 2% in excess of the rate then in effect for Canadian Prime Rate Loans and (iii) for all periods subsequent to the then current Interest Period for each Eurodollar Loan, for all Alternate Base Rate Loans and for all other overdue amounts hereunder, at 2% in excess of the rate then in effect for Alternate Base Rate Loans.
Default Interest; Alternate Rate of Interest. (a) If an Event of Default shall exist, then the rate of interest on all outstanding Loans shall be increased by 2.00% per annum and all other Obligations shall accrue interest from the date due at the rate for Alternate Base Rate Loans plus 2.00% per annum.
Default Interest; Alternate Rate of Interest. (a) So long as an Event of Default shall have occurred and be continuing (after, as well as before judgment), the Borrowers shall on demand from time to time pay interest, to the extent permitted by Applicable Law, on any then unpaid amount of their Obligations at a rate per annum (i) for the remainder of the then current Interest Period for each LIBO Rate Loan, at 2% in excess of the rate then in effect for each such LIBO Rate Loan and (ii) for each Alternate Base Rate Loan, at 2% in excess of the rate then in effect for each such Alternate Base Rate Loan.
Default Interest; Alternate Rate of Interest. (a) In the event that, and for so long as, (i) any Event of Default described in Section 7.1(h) or Section 7.1(i) hereof shall have occurred and be continuing, or (ii) any other Event of Default shall have occurred and be continuing and the Borrower shall have received written notice from the Administrative Agent that the default rate shall be in effect, the Borrower shall on demand from time to time pay interest, to the extent permitted by Applicable Law, on all Loans and overdue amounts outstanding up to (but not including) the date of actual payment of such Loan or overdue amount (after as well as before judgment) (i) for the remainder of the then current Interest Period for each Eurodollar Loan, at 2% in excess of the rate then in effect for each such Eurodollar Loan, (ii) for all periods subsequent to the then current Interest Period for each Eurodollar Loan and for all Base Rate Loans of a particular Tranche, at 2% in excess of the rate then in effect for Base Rate Loans of the same Tranche and (iii) for all other overdue amounts hereunder, at 2% in excess of the rate then in effect for Base Rate Loans which are B Term Loans.
Default Interest; Alternate Rate of Interest. (a) If the Company or any Eligible Subsidiary shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, the Company or such Eligible Subsidiary shall, to the extent permitted by law, pay interest on such defaulted amount (after as well as before judgment) on demand, from the date such defaulted amount was due until the date of actual payment at a rate per annum equal to the Alternate Base Rate plus two percent (2%) per annum.
