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. In the event that any principal amount of the Notes 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 to the contrary and until all principal payments on the Notes have been brought current, thereafter be increased by three percent (3%) per annum. To the extent legally enforceable, 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 three percent (3%) per annum in excess of the rate set forth in Subsection 6.2.
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. 17 6.4. Payments on the Notes ................................... 18 6.5.
Default Interest and Late Charges. 16 10 - WAIVERS................................................................16
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. (a) If all or a portion of (i) the principal amount of any Advance, (ii) any interest payable thereon or (iii) any fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is equal to the Fixed Rate plus two (2%) percent per annum or such other lower rate as a court may impose, in each case from the date of such nonpayment until such amount is paid in full. In no event shall any interest to be paid pursuant to this Agreement exceed the maximum rate permitted by law.
(b) To the extent permitted by law, whenever there is any Event of Default, the rate of interest on the unpaid principal balance of the Advances shall, at the option of Secured Party, be equal to twenty-four percent (24%) per annum.
(c) In the event that any payment, including, without limitation, interest or principal, required to be made by Debtor under the Note shall not be received by the Secured Party within ten (10) days after the same shall be due and payable, the Secured Party may charge, and if so charged, the Debtor shall pay upon demand, a late charge of four cents ($0.04) for each dollar ($1.00) of such delinquent payment, for the purpose of defraying the expenses incident to the handling of such delinquent payment.
Default Interest and Late Charges. 32 ------- ---------------------------------
