Default Interest and Fees. (a) The Obligors acknowledge and agree that as at 31 December 2012, USD$$116,061 of additional default interest has accrued at the Default Rate under the Original Agreement (and the for avoidance of doubt, this amount excludes ordinary interest that has accrued under Note Condition 2.1 in respect of the same period) (Default Interest). The Obligors agree that all such Default Interest will be payable at the end of the PIK Period and until such payment is made, the Default Interest will accrue interest at 15% per annum during the PIK Period, capitalising on the first day of each month (and the Obligors shall pay all accrued or capitalised amounts in respect of the Default Interest at the end of the PIK Period).
Default Interest and Fees. 6.1 Default interest shall be applied to any due but unpaid amount of the Borrower at the rate of 150% over the applicable interest rate calculating from (but not including) the due date until such amount is repaid in full to the Bank. The period for which an overdue amount remains unpaid may be divided into separate periods which the Bank may select in its absolute discretion and, if unpaid at the end of each such period, the relevant interest shall be capitalised (so as to become principal) and itself bear interest in accordance with this provision. Any default interest is immediately payable on demand.
Default Interest and Fees. If there is an Event of Default due to non-payment and while it continues you must pay the default interest charges. In the event of a breach of the contract or on the enforcement of the contract, you must pay us the default fees specified below.
Default Interest and Fees. Following the occurrence and during the continuance of any Event of Default, at the election of the Required Lenders, the Lenders or the Issuing Lender, as applicable, shall be entitled to receive, to the extent permitted by applicable law, and as additional compensation for the additional risks to the Lenders resulting from the existence of such Event of Default, interest on the outstanding principal of, and overdue interest, if any, on, the Loans hereunder at a rate per annum equal to the interest rate thereon (determined as provided in Section 3.1) plus two hundred (200) basis points and Letter of Credit fees at a rate per annum equal to the rate specified in Section 3.14 plus two hundred (200) basis points.
Default Interest and Fees. If you fail to pay any amount when it falls due under your Loan, we may charge you additional interest at the Default Rate (which is your current rate of interest plus 5% per annum) on the overdue amount calculated daily (by applying the Default Rate divided by 365) from the date the amount was due until the date it is fully repaid. This additional interest is deducted from your Specified Account or any other account you hold with us at such intervals as we determine. We may also add any default interest that is due but unpaid to the principal amount of any portion of your Loan. A default notice fee as stipulated in our Fees and Charges Brochure may also apply. The default interest is in addition to any default fees specified under the heading 'Fees' or referred to under the heading 'Other Charges' above, which is payable by you to us in the event of a breach of this Loan Agreement or on enforcement of this Loan Agreement.
Default Interest and Fees. (a) In the event the Company fails to make any payment (whether of principal, interest or any other sum) on the date such payment is due and payable hereunder or under the Note, and such failure continues.
Default Interest and Fees. (a) The Loan Parties agree that during the Forbearance Period, interest on all outstanding Obligations, including the unpaid principal amount of the Term Loans, shall accrue at the Default Rate (provided that the Borrower shall be permitted to continue the Term Loans as Term Benchmark Loans with a one-month Interest Period) and interest payments shall be made in cash on the earlier of (i) the applicable Interest Payment Date and (ii) the Termination Date; and
Default Interest and Fees. 13.1 If the Borrower fails to pay any amount under this Agreement on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate of two-and-an-half per cent (2.5%) higher than the Interest Rate.
Default Interest and Fees. Default Interest will accrue on an unpaid principal or Interest due hereunder at the rate of sixteen percent (16%) per annum upon the occurrence of any Event of Default until the Event of Default is cured. Default Interest shall be payable monthly basis commencing thirty (30) days after the Default Interest has begun accruing. Default Interest will be computed on a three hundred sixty-five (365) day year.
Default Interest and Fees. If you exceed the Credit Limit on your SBS Unwind Loan, you must pay interest on the excess amount at the Default Interest Rate. Interest will be charged at the Default Interest Rate from the date you exceed your Credit Limit until the date you cease to exceed the Credit Limit and is calculated by multiplying the excess amount at the end of each day by the daily Default Interest Rate. The daily Default Interest Rate is the Default Interest Rate divided by 365. Default interest may be capitalised (ie added) to your Loan from time to time at our discretion. Any interest that is capitalised will accrue interest from the date it is capitalised. If you are in breach of your SBS Unwind Loan Agreement, we may charge you default fees as specified in the Reverse Equity Mortgage Fees and Charges Schedule.
