Common use of Default Interest; Late Charge Clause in Contracts

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 LoanLoans, the Loan all Loans shall bear interest payable on demand at a rate per annum equal to three four percent (3.04.0%) above over the then current rate of interest rate that would otherwise be in effect hereunder on the Outstanding Loans (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 four percent (3.04.0%) of any the amount of any interest and/or principal payable on the Loan Loans 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, provided that no such late charge shall apply to the final payment of principal of the Loans on the Maturity 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 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 Borrowers 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 Borrowers 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 LoanLoans, the Loan all Loans shall bear interest payable on demand at a rate per annum equal to three four percent (3.04.0%) above the interest rate that would otherwise be in effect hereunder Base Rate (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 four percent (3.04.0%) of any amount of interest and/or principal payable on the Loan Loans 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, provided that no such late charge shall apply to the final payment of principal of the Loans on the Maturity 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 LoanLoans, the Loan all Loans shall bear interest payable on demand at a rate per annum equal to three six percent (3.06.0%) above the interest rate that would otherwise be in effect hereunder Base Rate (the “Default Rate”), until such amount shall be paid in full (after as well as before judgment), or if any of such amounts amount shall exceed the maximum rate permitted by law, then at the maximum rate permitted by law. In addition, Borrower Borrowers shall pay a late charge equal to three four percent (3.04.0%) of any amount of interest and/or principal payable on the Loan Loans to it or any other amounts payable hereunder or under the other Loan Documents, which is not paid by Borrower the Borrowers within ten (10) days of the date when due.