Default Interest and Late Charges. Borrower acknowledges that, without limitation to any of Lender’s rights or remedies set forth in this Security Instrument, Lender has the right following an Event of Default to demand interest on the principal amount of the Note at the Default Rate and late payment charges in accordance with the terms of the Note.
Default Interest and Late Charges. During any period when an Event of Default has occurred and is continuing, or after the Maturity Date or after judgment has been rendered on any Note, Borrower's right to select LIBOR Loans shall cease and the unpaid principal of all Loans shall, at the option of each Lender bear interest at a rate which is four (4) percentage points per annum greater than that which would otherwise be applicable to Prime Rate Loans. If the entire amount of any required principal and/or interest is not paid in full within ten (10) days after the same is due, Borrower shall pay to the Agent a late fee equal to five percent (5%) of the required payment.
Default Interest and Late Charges. Borrower acknowledges that, without limitation to any of Lxxxxx’s rights or remedies set forth in this Security Instrument, Lxxxxx has the right following an Event of Default to demand interest on the principal amount of the Note at the Default Rate and late payment charges in accordance with the terms of the Note.
Default Interest and Late Charges. 30 11 - INDEMNIFICATION.........................................................30
Default Interest and Late Charges. 17 6.4. Payments on the Notes ................................... 18 6.5.
Default Interest and Late Charges. In the event that any --------------------------------- principal amount of the Notes is not paid within five (5) Business Days of when due and payable (whether at stated maturity, by acceleration or otherwise), the interest rate on such principal amount shall, notwithstanding anything herein to the contrary and until all principal payments on the Notes have been brought current, thereafter be increased by two percent (2%) per annum. Any interest on any principal amount of the Notes that is not paid when due and payable shall thereafter be paid, on demand by the holder of such Notes for which such interest is owed, together with interest thereon at a rate of two percent (2%) per annum in excess of the rate set forth in Subsection 6.2.
Default Interest and Late Charges. During any period when an Event of Default has occurred and is continuing, or after the Maturity Date or after judgment has been rendered on any Note or Loan, Borrower’s right to select Eurocurrency Loans shall cease and the unpaid principal of all Loans shall, at the option of the Requisite Lenders bear interest at a rate which is four percentage points (4%) per annum greater than that which would otherwise be applicable to Base Rate Loans.
Default Interest and Late Charges. In the event that any principal amount of this Note is not paid within five (5) days of when due and payable (whether at stated maturity, by acceleration or otherwise), the interest rate on such principal amount shall, notwithstanding anything herein or in the Agreement to the contrary and until all principal payments on this Note have been brought current, thereafter be increased by three percent (3%) per annum to the extent legally enforceable. Any interest not paid when due and payable shall thereafter be paid, on demand by the Payee, together with interest thereon at a rate of three percent (3%) per annum in excess of the rate set forth in Section 2 of this Note.
Default Interest and Late Charges. In the event that any payment (except payment of principal and accrued and unpaid interest on the Maturity Date) is not received by Lenders within fifteen (15) days after the due date of such payment, Borrower shall pay to Lenders a late charge in an amount equal to five percent (5%) of the amount of such delinquent payment. In addition to the late charge referred to above, in the event that any monthly payment of interest payable hereunder is not made by the fifteenth (15th) day after the due date of such payment ("Accrual Date"), or the Outstanding Principal Balance and accrued and unpaid interest thereon due on acceleration hereof or on the Maturity Date are not paid when due, then such amounts shall bear interest from the Accrual Date, Maturity Date or effective date of acceleration hereof, as applicable, until paid at the Default Rate. Nothing set forth in this section shall imply any obligation on the part of Lenders to accept any payment not made when due, and acceptance by Lenders of any such late payment together with any late charge and/or default interest shall not be deemed to extend the due date of any other payment or waive Lenders' rights to declare a default hereunder if any such other payment is not made when due. Borrower acknowledges that it would be extremely difficult and impracticable to determine Lenders' actual damages resulting from any late payment and the aforementioned late charge and default interest are reasonable estimates of those damages
Default Interest and Late Charges. The Borrower shall pay Default Interest and Late Charges as provided in the Loan Agreement.
