DEFAULT INTEREST An Unpaid. Sum shall bear interest during each Interest Period in respect thereof at the rate per annum which is one per cent. per annum above the percentage rate which would apply if it had been an Advance in the amount and currency of such Unpaid Sum and for the same Interest Period, PROVIDED THAT if such Unpaid Sum relates to an Advance which became due and payable on a day other than the last day of an Interest Period relating thereto:
25.2.1 the first Interest Period applicable to such Unpaid Sum shall be of a duration equal to the unexpired portion of the current Interest Period relating to that Advance; and
25.2.2 the percentage rate of interest applicable thereto from time to time during such period shall be that which exceeds by one per cent. the rate which would have been applicable to it had it not so fallen due, save that the Margin shall be, or be deemed to be, the highest rate specified in the definition thereof. Where an Unpaid Sum does not relate to an Advance, interest shall be calculated by reference to the Applicable B Margin.
DEFAULT INTEREST An Unpaid. Sum shall bear interest during each Interest Period in respect thereof at the rate per annum which is one per cent. per annum above the percentage rate which would apply to a Tranche A Advance in the amount and currency of such Unpaid Sum and for the same Interest Period, provided that if such Unpaid Sum relates to a Tranche A Advance which became due and payable on a day other than the last day of an Interest Period relating thereto:
(a) the first Interest Period applicable to such Unpaid Sum shall be of a duration equal to the unexpired portion of the current Interest Period relating to that Tranche A Advance; and
(b) the percentage rate of interest applicable thereto from time to time during such period shall be that which exceeds by one per cent. the rate which would have been applicable to it had it not so fallen due, save that the Margin shall be, or be deemed to be, the relevant rate being paid at the beginning of such period specified in the definition thereof.
DEFAULT INTEREST An Unpaid. Sum shall bear interest, or, insofar as it relates to unpaid interest, shall give rise to a claim for lump sum damages, during each Interest Period in respect thereof at the rate per annum which is one per cent. per annum above the percentage rate which would apply if it had been a Loan in the amount and currency of such Unpaid Sum and for the same Interest Period (provided that in the case of lump sum damages, the Obligor shall be free to prove that no damage has arisen or that damage has not arisen in the asserted amount, whereas in the case of lump sum damages and default interest the Finance Party shall be entitled to assert further damages), provided that if such Unpaid Sum relates to a Loan which became due and payable on a day other than the last day of an Interest Period relating thereto:
12.2.1 the first Interest Period applicable to such Unpaid Sum shall be of a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
12.2.2 the percentage rate of interest applicable thereto from time to time during such period shall be that which exceeds by one per cent. the rate which would have been applicable to it had it not so fallen due.
DEFAULT INTEREST An Unpaid. Sum shall bear interest during each Term in respect thereof at the rate per annum which is two per cent. per annum above the percentage rate which would apply if such Unpaid Sum had been an Advance in the amount and currency of such Unpaid Sum and for the same Term, PROVIDED THAT if such Unpaid Sum relates to an Advance which became due and payable on a day other than the last day of the Term thereof:
23.2.1 the first such Term applicable to such Unpaid Sum shall be of a duration equal to the unexpired portion of the current Term relating to that Advance; and
23.2.2 the percentage rate of interest applicable thereto from time to time during such period shall be that which exceeds by one point five per cent. the rate which would have been applicable to it had it not so fallen due save that the Margin shall be, or be deemed to be, the highest rate specified in the definition thereof.
DEFAULT INTEREST An Unpaid. Sum shall bear interest during each Term in respect thereof at the rate per annum which is the sum from time to time of one per cent., the Margin at such time, the Mandatory Costs Rate in respect thereof and the relevant interbank rate on the Quotation Date therefor PROVIDED THAT:
25.2.1 if, for any such period, the relevant interbank rate cannot be determined, the rate of interest applicable to such Unpaid Sum shall be the sum from time to time of one per cent., the Margin at such time, the Mandatory Costs Rate in respect thereof and the rate per annum determined by the Agent to be the
25.2.2 if such Unpaid Sum is all or part of an Advance which became due and payable on a day other than the last day of the Term relating thereto, the first such period applicable thereto shall be of a duration equal to the unexpired portion of that Term and the rate of interest applicable thereto from time to time during such period shall be that which exceeds by one per cent. the rate which would have been applicable to it had it not so fallen due.
DEFAULT INTEREST An Unpaid. Sum shall bear interest during each Term in respect thereof at the rate per annum which is one per cent. per annum above the percentage rate which would apply to an Advance in the amount and currency of such Unpaid Sum and for the same Term, provided that if such Unpaid Sum relates to an Advance which became due and payable on a day other than the last day of the Term thereof:
DEFAULT INTEREST An Unpaid. Sum shall bear interest during each Interest Period in respect thereof at the rate per annum which is one per cent. per annum above the percentage rate which would apply if such Unpaid Sum had been an Advance in the amount and currency of such Unpaid Sum and for the same Interest Period, provided that if such Unpaid Sum relates to an Advance which became due and payable on a day other than the last day of an Interest Period or Term relating thereto:
28.2.1 the first Interest Period applicable to such Unpaid Sum shall be of a duration equal to the unexpired portion of the current Interest Period or Term relating to that Advance; and
28.2.2 the percentage rate of interest applicable thereto from time to time during such period shall be that which exceeds by one per cent. the rate which would have been applicable to it had it not so fallen due, save that the Margin shall be, or be deemed to be, 2.50 per cent. per annum.
DEFAULT INTEREST An Unpaid. Sum shall bear interest during each Interest Period in respect thereof at the rate per annum which is one per cent. per annum above the percentage rate which would apply if such Unpaid Sum had been an Advance under the Term Facility (to the extent that the Unpaid Sum is owed to the Term Banks) or the Revolving Facility (to the extent that the Unpaid Sum is owed to the Revolving Banks) in the amount and currency of such Unpaid Sum and for the same Term or Interest Period, provided that if such Unpaid Sum relates to an Advance which became due and payable on a day other than the last day of a Term or Interest Period relating thereto:
27.2.1 the first Interest Period applicable to such Unpaid Sum shall be of a duration equal to the unexpired portion of the current Term or Interest Period relating to that Advance; and
27.2.2 the percentage rate of interest applicable thereto from time to time during such period shall be that which exceeds by one per cent. the rate which would have -120- been applicable to it had it not so fallen due provided that the Revolving Margin shall be, or be deemed to be:
(a) prior to the date falling six months after the Second Restatement Amendment Effective Date, 3.50 per cent. per annum; and
(b) at all times thereafter 4.00 per cent. per annum.
DEFAULT INTEREST An Unpaid. Sum shall bear interest during each Interest Period in respect thereof at the rate per annum which is the sum from time to time of 2%, the rate applicable thereto pursuant to Clause 7.2 (RATE OF INTEREST) provided that if such Unpaid Sum is all or part of the Loan which became due and payable on a day other than the last day of the Interest Period relating thereto, the first such period applicable thereto shall be of a duration equal to the unexpired portion of that Interest Period and the rate of interest applicable thereto from time to time during such period shall be that which exceeds by 2% the rate which would have been applicable to it had it not so fallen due. For the avoidance of doubt, any interest due to be paid on an Unpaid Sum under this Clause shall be cash interest payable as stated in Clause 22.3 (PAYMENT OF DEFAULT INTEREST) and shall not be capitalised.
DEFAULT INTEREST An Unpaid. Sum shall bear interest during each Term in respect thereof at the rate per annum which is one per cent. per annum above the percentage rate which would apply to an Advance in the amount and currency of such Unpaid Sum and for the same Term, provided that if such Unpaid Sum relates to an Advance which became due and payable on a day other than the last day of the Term thereof:
20.2.1 the first such Term applicable to such Unpaid Sum shall be of a duration equal to the unexpired portion of the current Term relating to that Advance; and
20.2.2 the percentage rate of interest applicable thereto from time to time during such period shall be that which exceeds by one per cent. the rate which would have been applicable to it had it not so fallen due.
