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).
Appears in 2 contracts
Samples: Credit, Security, Guaranty and Pledge Agreement (First Look Studios Inc), Guaranty and Pledge Agreement (Overseas Filmgroup Inc)
Default Interest; Alternate Rate of Interest. (a) So long as an Event of Default shall have occurred and be continuingcontinuing (after, as well as before judgment), the Borrower 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 of 2% in excess of the rate otherwise in effect (computed as aforesaid).
Appears in 1 contract
Samples: Harvey Entertainment Co
Default Interest; Alternate Rate of Interest. (a) So long as Upon the occurrence and during the continuance of an Event of Default shall have occurred and be continuingDefault, (after, as well as before judgment), the Borrower shall on demand from time to time pay interest, to the extent permitted by Applicable Law, interest on any then unpaid amount of the Obligations at a rate per annum of 22.00% in excess of the rate otherwise then in effect (computed as aforesaid).
Appears in 1 contract
Samples: Credit, Security, Guaranty and Pledge Agreement (Eros International PLC)
Default Interest; Alternate Rate of Interest. (a) So In the event that, and for so long as an 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 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).all
Appears in 1 contract
Default Interest; Alternate Rate of Interest. (a) So long as an Upon the occurrence and during the continuance of any Event of Default shall have occurred and be continuingDefault, the Borrower shall on demand from time to time pay interest, to the extent permitted by Applicable Law, on any then unpaid amount all Obligations from the occurrence of the Obligations such Event of Default at a rate per annum of 2% in excess of the rate otherwise then in effect (computed as aforesaid)for the Obligations.
Appears in 1 contract
Samples: Guaranty and Pledge Agreement
