Common use of Default Interest Periods and Rates Clause in Contracts

Default Interest Periods and Rates. Interest under this Clause shall be calculated by reference to successive Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Interest Period shall be of a period not exceeding one month or such other period as the Lender and the Borrower may from time to time agree and the rate of interest applicable for all or any part of a particular Interest Period relating to an Unpaid Sum shall be (i) (if that Unpaid Sum is of principal relating to a Loan) the rate per annum equal to the sum of two per cent. and the rate which would be applicable to that Unpaid Sum for (or, as the case may be, for that part of) that Interest Period under Clause 8.1 (Calculation of interest) as if that Unpaid Sum were a non-overdue Loan and (ii) (in any other case) the rate per annum equal to the sum of (A) two per cent., (B) the Margin and (C) LIBOR, except as follows: (i) if the Unpaid Sum is of principal of a Loan and becomes due on a day which was not the last day of an Interest Period relating to that Loan, the first Interest Period applicable to that Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; (ii) if the Unpaid Sum is of principal of a Loan, and any event equivalent to those mentioned in Clause 10.1 occurs in relation to any Interest Period applicable to an Unpaid Sum, the rate of interest payable on that Unpaid Sum for all or any part of that Interest Period shall be the sum of two per cent., the Margin and the cost to the Lender (as certified by it and expressed as a rate per annum) of funding (including, without limitation, the cost to the Lender occasioned by or attributable to complying with reserves, liquidity, deposit or other requirements imposed on the Lender by any relevant authority or authorities) that sum during that Interest Period by whatever means it reasonably determines to be appropriate; and (iii) any Interest Period relating to an Unpaid Sum which would otherwise end on a day which is not a Business Day shall instead end on the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if there is not).

Default Interest Periods and Rates. Interest under this Clause 20 shall be calculated by reference to successive Default Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Default Interest Period shall be of a period not exceeding one month three months or such other shorter period as the Lender and the Borrower Agent may from time to time agree select, and the rate of interest applicable for all or any part of a particular Default Interest Period relating to an Unpaid Sum shall be (i) (if that Unpaid Sum is of principal relating to a Loan) the rate per annum equal to the sum of two per cent. and the rate which would be applicable to that Unpaid Sum Default Interest Rate for (or, as the case may be, for that part of) that Default Interest Period, except as follows: (a) Subject to Clauses 20.2(b) (Default Interest Periods and Rates) and 20.2(c) (Default Interest Periods and Rates), until the first Business Day after the Agent first becomes aware of the relevant default, the Agent may require that each Default Interest Period under Clause 8.1 (Calculation relating to the relevant overdue sum shall be an “overnight” period beginning on one Business Day and ending on the next. The rate of interest) as if that Unpaid Sum were interest for a non-overdue Loan and (ii) (in any other case) particular “overnight” period shall be the rate per annum equal to the sum of (A) two per cent3%, the relevant Margin, the Mandatory Costs and EONIA for that Default Interest Period., (B) the Margin and (C) LIBOR, except as follows: (ib) if If the Unpaid Sum overdue sum is of principal of a Loan an Advance and becomes due on a day which was not before the last day Repayment Date of an Interest Period relating to that LoanAdvance, the first Default Interest Period applicable to that Unpaid Sum overdue sum shall have a duration end on that Repayment Date and the rate of interest applicable to that sum for that Default Interest Period shall be the rate per annum equal to the unexpired portion sum of 3% and the current Interest Period relating rate applicable to that Loan;it immediately before it became due. (iic) if the Unpaid Sum is of principal of a Loan, and If any event equivalent to those mentioned in Clause 10.1 13.1 (Triggering Events) occurs in relation to any Default Interest Period applicable to an Unpaid Sumoverdue sum, the rate of interest payable on each Person’s share of that Unpaid Sum sum for all or any part of that Default Interest Period shall be the sum of two per cent.3%, the Margin relevant Margin, the Mandatory Costs and the cost to the Lender that Person (as certified by it and expressed as a rate per annum) of funding (including, without limitation, the cost to the Lender occasioned by or attributable to complying with reserves, liquidity, deposit or other requirements imposed on the Lender by any relevant authority or authorities) that sum its share during that Default Interest Period by whatever means it reasonably determines to be appropriate; and. (iiid) any Any Default Interest Period relating to an Unpaid Sum which would otherwise end on a day which is not a non-Business Day shall instead end on the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if there is not).

Default Interest Periods and Rates. Interest under this Clause 21 shall be calculated by reference to successive Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Interest Period shall be of a period not exceeding one month 3 months or such other shorter period as the Lender and the Borrower Agent may from time to time agree select and the rate of interest applicable for all or any part of a particular Interest Period relating to an Unpaid Sum shall be (i) (if that Unpaid Sum is of principal relating to a Loan) the rate per annum equal to the sum of two per cent. 1% and the rate which would be applicable to that Unpaid Sum overdue sum for (or, as the case may be, for that part of) that Interest Period under Clause 8.1 (Calculation of interest) as 8.4 if that Unpaid Sum overdue sum were a non-overdue Loan Advance, except as follows: 21.2.1 Subject to Clauses 21.2.2 and (ii) (in any other case) 21.2.3, until the third Business Day after the Agent first becomes aware of the relevant default, the Agent may require that each Interest Period relating to the relevant overdue sum shall be an "OVERNIGHT" period beginning on one Business Day and ending on the next. The rate of interest for a particular "OVERNIGHT" period shall be the rate per annum equal to the sum of (A) two per cent1%, the Applicable Margin, the Mandatory Costs and LIBOR for that Interest Period., (B) 21.2.2 If the Margin and (C) LIBOR, except as follows: (i) if the Unpaid Sum overdue sum is of principal of a Loan an Advance and becomes due on a day which was not before the last day Revolving Credit Facility Repayment Date (as appropriate) of an Interest Period relating to that LoanAdvance, the first Interest Period applicable to that Unpaid Sum overdue sum shall have a duration end on that Repayment Date and the rate of interest applicable to that sum for that Interest Period shall be the rate per annum equal to the unexpired portion sum of 1% and the current Interest Period relating rate applicable to that Loan;it immediately before it became due. (ii) if the Unpaid Sum is of principal of a Loan, and 21.2.3 If any event equivalent to those mentioned in Clause 10.1 14.1 occurs in relation to any Interest Period applicable to an Unpaid Sumoverdue sum, the rate of interest payable on each Person's share of that Unpaid Sum sum for all or any part of that Interest Period shall be the sum of two per cent.1%, the Margin Applicable Margin, the Mandatory Costs and the cost to the Lender that Person (as certified by it and expressed as a rate per annum) of funding (including, without limitation, the cost to the Lender occasioned by or attributable to complying with reserves, liquidity, deposit or other requirements imposed on the Lender by any relevant authority or authorities) that sum its share during that Interest Period by whatever means it reasonably determines to be appropriate; and (iii) any Interest Period relating to an Unpaid Sum which would otherwise end on a day which is not a Business Day shall instead end on the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if there is not).

Default Interest Periods and Rates. Interest under this Clause 21 shall be calculated by reference to successive Default Interest Periods, each of which (other than the first, which shall begin on the due date) shall begin on the last day of the previous one. Each such Default Interest Period shall be of a period not exceeding one month three months or such other shorter period as the Lender and the Borrower Agent may from time to time agree select and the rate of interest applicable for all or any part of a particular Default Interest Period relating to an Unpaid Sum shall be (i) (if that Unpaid Sum is of principal relating to a Loan) the rate per annum equal to the sum of two per cent. 1% and the rate which would be applicable to that Unpaid Sum overdue sum for (or, as the case may be, for that part of) that Default Interest Period under Clause 8.1 8.2 (Calculation of interestNormal Interest Rate) as if that Unpaid Sum overdue sum were a non-overdue Loan Advance, except as follows: (a) Subject to Clauses 21.2(b) and (ii) (in any other case) 21.2(c), until the first Business Day after the Agent first becomes aware of the relevant default, the Agent may require that each Default Interest Period relating to the relevant overdue sum shall be an “overnight” period beginning on one Business Day and ending on the next. The rate of interest for a particular “overnight” period shall be the rate per annum equal to the sum of (A) two per cent1%, the relevant Margin, the Mandatory Costs and, as the case may be, EONIA or LIBOR for that Default Interest Period., (B) the Margin and (C) LIBOR, except as follows: (ib) if If the Unpaid Sum overdue sum is of principal of a Loan an Advance and becomes due on a day which was not before the last day Repayment Date of an Interest Period relating to that LoanAdvance, the first Default Interest Period applicable to that Unpaid Sum overdue sum shall have a duration end on that Repayment Date and the rate of interest applicable to that sum for that Default Interest Period shall be the rate per annum equal to the unexpired portion sum of 1% and the current Interest Period relating rate applicable to that Loan;it immediately before it became due. (iic) if the Unpaid Sum is of principal of a Loan, and If any event equivalent to those mentioned in Clause 10.1 14.1 (Triggering Events) occurs in relation to any Default Interest Period applicable to an Unpaid Sumoverdue sum, the rate of interest payable on each Person’s share of that Unpaid Sum sum for all or any part of that Default Interest Period shall be the sum of two per cent.1%, the Margin relevant Margin, the Mandatory Costs and the cost to the Lender that Person (as certified by it and expressed as a rate per annum) of funding (including, without limitation, the cost to the Lender occasioned by or attributable to complying with reserves, liquidity, deposit or other requirements imposed on the Lender by any relevant authority or authorities) that sum its share during that Default Interest Period by whatever means it reasonably determines to be appropriate; and. (iiid) any Any Default Interest Period relating to an Unpaid Sum which would otherwise end on a day which is not a non-Business Day shall instead end on the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if there is not).