Default Interest; Late Charge. Following the occurrence and during the continuance of any Event of Default, and regardless of whether or not the Agent or the Lenders shall have accelerated the maturity of the Loans, all Loans shall bear interest payable on demand at a rate per annum equal to the sum of the Base Rate plus the Applicable Margin plus five percent (5.0%) (the “Default Rate”), until such amount shall be paid in full (after as well as before judgment), and the fee payable with respect to Letters of Credit shall be increased to a rate equal to five percent (5.0%) above the Letter of Credit fee that would otherwise be applicable to such time, or if any of such amounts shall exceed the maximum rate permitted by law, then at the maximum rate permitted by law. In addition, the Borrower shall pay a late charge equal to four percent (4.0%) of any amount of interest and/or principal payable on the Loans or any other amounts payable hereunder or under the other Loan Documents, which is not paid by the Borrower within ten (10) days of the date when due (or, in the case of amounts due at the Revolving Credit Maturity Date or Term Loan Maturity Date, as applicable, within fifteen (15) Business Days of such date).
Default Interest; Late Charge. Following the occurrence and during the continuance of any Event of Default, and regardless of whether or not the Agent or the Lenders shall have accelerated the maturity of the Loans, all Loans shall bear interest payable on demand at a rate per annum equal to four percent (4%) above the rate that would otherwise be applicable at such time (the "Default Rate"), until such amount shall be paid in full (after as well as before judgment). In addition, the Borrower shall pay a late charge equal to five percent (5.0%) of any amount of interest and/or principal payable on the Loans or any other amounts payable hereunder or under the Loan Documents, which is not paid by the Borrower within ten (10) days of the date when due.
Default Interest; Late Charge. Following the occurrence and during the continuance of any Event of Default, and regardless of whether or not the Agent or the Lenders shall have accelerated the maturity of the Loans, all Loans shall bear interest payable on demand at a rate per annum equal to three percent (3.0%) above the interest rate that would otherwise be in effect hereunder (the “Default Rate”), until such amount shall be paid in full (after as well as before judgment), and the fee payable with respect to Letters of Credit shall be increased to a rate equal to three percent (3.0%) above the Letter of Credit fee that would otherwise be applicable to such time, or if any of such amounts shall exceed the maximum rate permitted by law, then at the maximum rate permitted by law. In addition, the Borrowers shall pay a late charge equal to three percent (3.0%) of any Dollar Equivalent amount of interest and/or principal payable on the Loans or any other amounts payable hereunder or under the other Loan Documents, which is not paid by the Borrowers within ten (10) days of the date when due.
Default Interest; Late Charge. (a) If any payment of principal, interest or other sum payable hereunder or under any of the other Loan Documents is not paid when due (including by reason of failure to pay all principal, interest and all other amounts due hereunder and under the other Loan Documents on the Maturity Date (or such earlier date as the same may become due, whether by acceleration or otherwise)), such principal amount, interest or other sum shall bear interest at a rate per annum (the "Default Rate") equal to five percent (5%) in excess of the interest rate on the Loan determined in accordance with Section 2(a) above, which Default Rate shall so apply from the date due until the date such amount is indefeasibly paid to Lender. Without limiting the foregoing, upon the occurrence of and during the continuance of an Event of Default hereunder, the entire principal balance of this Note shall bear interest at the Default Rate. Interest at the Default Rate shall be paid immediately upon demand, which demand may be made as frequently as Lender shall elect.
(b) If any installment of interest or principal is not paid when due, Borrower shall pay to Lender a late charge of four percent (4%) of the amount so overdue in order to defray part of the expense incident to handling such delinquent payment or payments. Such late charge shall be immediately due and payable without notice or demand by Xxxxxx. Such late charge shall be in addition to and separate from any increase in interest due hereunder as a result of calculation of interest due hereunder at the Default Rate. Acceptance by Xxxxxx of any late charge or interest at the Default Rate shall not be deemed a waiver of any of Xxxxxx's rights hereunder or under the other Loan Documents with respect to such late payment.
Default Interest; Late Charge. Following the occurrence and during the continuance of any Event of Default, and regardless of whether or not the Agent or the Lenders shall have accelerated the maturity of the Loan, the Loan shall bear interest payable on demand at a rate per annum equal to three percent (3.0%) above the interest rate that would otherwise be in effect hereunder (the “Default Rate”), until such amount shall be paid in full (after as well as before judgment), or if any of such amounts shall exceed the maximum rate permitted by law, then at the maximum rate permitted by law. In addition, Borrower shall pay a late charge equal to three percent (3.0%) of any amount of interest and/or principal payable on the Loan or any other amounts payable hereunder or under the other Loan Documents, which is not paid by Borrower within ten (10) days of the date when due.
Default Interest; Late Charge. Following the occurrence and during the continuance of any Event of Default, and regardless of whether or not the Agent or the Lenders shall have accelerated the maturity of the Loans, all Loans shall bear interest payable on demand at a rate per annum equal to four percent (4.0%) above the interest rate that would otherwise be in effect hereunder (the “Default Rate”), until such amount shall be paid in full (after as well as before judgment) until such amount shall be paid in full (after as well as before judgment), or if any of such amounts shall exceed the maximum rate permitted by law, then at the maximum rate permitted by law. In addition, the Borrower shall pay a late charge equal to two percent (2.0%) of any amount of interest and/or principal payable on the Loans (other than amounts due on the Maturity Date or as a result of acceleration), which is not paid by the Borrower within ten (10) days of the date when due.
Default Interest; Late Charge. Subject to the terms of the second sentence of Section 25 of the Master Lease, as incorporated herein, if Subtenant fails to pay any Rent within ten (10) days after due, Sublandlord and Subtenant each agree that (i) Sublandlord will or may incur additional expenses in the form of extra collection efforts, handling costs, and potential impairment of credit on liens for which this Sublease is security; (ii) it is extremely difficult and impractical to ascertain the extent of detriment; (iii) the amount described herein is and will be reasonable; and, (iv) Sublandlord shall be entitled to recover from Subtenant as liquidated damages the greater of Five Hundred Dollars ($500) or three percent (3%) of the amount due (“Late Fee”). Past due amounts shall also bear interest at the rate of twelve percent (12%) per annum or the maximum rate permitted by law, whichever is less (“Interest Rate”). Notwithstanding the foregoing, the obligation to pay the Late Fee and/or interest at the Interest Rate shall not alter or preclude Sublandlord’s right, prior to actual receipt of any delinquent installment of Rent, to exercise any right or remedy which Sublandlord may have under the terms of this Sublease or under applicable law. Furthermore, acceptance of any monies by Sublandlord shall not constitute a waiver by Sublandlord of Subtenant’s breach or prevent Sublandlord from exercising any other right or remedies available to Sublandlord as provided herein or by law, except for offsets to damages to the extent of amounts received by Sublandlord for Subtenant’s benefit.
Default Interest; Late Charge. Following the occurrence and during the continuance of any Event of Default, and regardless of whether or not the Agent or the Lenders shall have accelerated the maturity of the Loans, all Loans shall bear interest payable on demand at a rate per annum equal to two percent (2.0%) above the interest rate that would otherwise be applicable to Base Rate Loans hereunder (the “Default Rate”), until such amount shall be paid in full (after as well as before judgment).
Default Interest; Late Charge. 13 3.6 Prepayment ................................................... 13 3.7 Maturity ..................................................... 13 3.8 Payments of Principal of Loan ................................ 13
Default Interest; Late Charge. (1) Upon the occurrence of an Event of Default, at the Lender's option, the Loan and all other amounts payable hereunder or under any of the other Loan Documents shall bear interest payable on demand at a rate per annum equal to four percent (4%) above the then applicable highest rate of interest under the Note until such amount shall be paid in full (after as well as before judgment) (the "Default Rate").
(2) In addition to other charges described in the Loan Documents, and without derogating from the right of the Lender to accelerate the Obligations upon the occurrence of an Event of Default, the Borrower shall pay to the Lender a late charge equal to one (1%) percent of any payment due under the Note which is not paid within ten (10) days of the due date thereof.
