Common use of Default Interest; Alternate Rate of Interest Clause in Contracts

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) 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 the New Term 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 a Eurodollar Loan, at 32% in excess of the higher of (x) the rate then in effect for each such Eurodollar Loan Loans and (y) the rate then in effect for Base Rate Loans (it being understood by the parties hereto that no a Eurodollar Loan may not 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 a Base Rate Loans of a certain type (i.e., Revolving Loan or Term Loan), at 32% 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 32% 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 New Term Lenders in accordance with the terms of this Credit Agreement, then the provisions of this Section 2.8(a2.7(a) shall also be deemed waived from and after the effective date of the applicable waiver.

Default Interest; Alternate Rate of Interest. (a) In the event that, and for so long as, any Event of Default pursuant to Section 7(b) or 7(c) hereof 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 all Eurodollar LoanLoans, at 32% in excess of the higher of (x) the rate then in effect for each such Eurodollar Loan Loans and (y) the rate then in effect for Base Rate Loans (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)Loans, at 32% 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 32% in excess of the rate then in effect for Base Rate Loans that are Revolving Loans; provided, however, that if an such 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(a2.10(a) shall also be deemed waived from and after the effective date of the applicable waiver.

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 Rate Loan, at 3% in excess of the rate then in effect for each such Eurodollar Rate Loan (it being understood by the parties hereto that no Eurodollar Rate Loan may be continued into a subsequent Interest Period and no Base Rate Loan may be converted to a Eurodollar Rate 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 Rate 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) In the event that, and for so long as, (i) any Event of Default described in Section 7.1(b), 7.1(c), 7.1(h) or 7.1(i) hereof shall have occurred and be continuing, or (ii) any other Event of Default shall have occurred and be continuingcontinuing 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 32% 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)particular Tranche, at 32% in excess of the rate then in effect for Base Rate Loans of the same type and (iii) for all other overdue amounts hereunderTranche, at 3% in excess of the rate then in effect for Base Rate Loans that are Revolving Loans; provided, howeverthat to the extent interest paid on account of any Tranche B Term Loan shall be PIK Interest, that if an Event of Default is waived by -------- ------- the applicable Lenders 2% default interest rate shall apply to such Tranche B Term Loans and such default interest shall continue to accrue as PIK interest so long as such Tranche B Term Loans shall not have been accelerated in accordance with the terms provisions of Section 7 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) In the event that, and for so long as, any Event of Default shall have occurred and be continuing, the each Borrower shall on demand from time to time pay interest, to the extent permitted by Applicable Law, on any and all Loans and overdue amounts made to such Borrower 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 32% 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 required pursuant to Section 11.11 hereof otherwise consent), ) and (ii) for all periods subsequent to the then current Interest Period for each Eurodollar Loan and for all Base Rate Loans of a certain particular type (i.e., Term Loan, Tranche A Loan, Revolving Credit Loan or Term Senior Priority Loan), ) at 32% in excess of the rate then in effect for Base Rate Loans of the same type type; provided, however, that if such Event of Default is waived by the applicable Lenders in accordance with Section 11.11 hereof, then the foregoing provisions of this Section 2.12(a) shall also be deemed waived from and (iii) after the effective date of the applicable waiver. In the event that, and for so long as, any Event of Default shall have occurred and be continuing, each Credit Party shall on demand from time to time pay interest, to the extent permitted by Applicable Law, on all other overdue amounts hereunder, owed hereunder by such Credit Party (other than Loans) outstanding up to (but not including) the date of actual payment of such overdue amount (after as well as before judgment) at 32% in excess of the rate then in effect for Base Rate Loans that are Revolving Credit Loans; provided, however, that if an such Event of Default is waived by -------- ------- the applicable Lenders in accordance with the terms of this Credit AgreementSection 11.11 hereof, then the foregoing provisions of this Section 2.8(a2.12(a) shall also be deemed waived from and after the effective date of the applicable waiver.