Default Interest Rate. Upon the occurrence and during the continuation of an Event of Default, Borrower shall pay FINOVA interest on the daily outstanding balance of the Obligations at a rate per annum which is two percent (2%) in excess of the rate which would otherwise be applicable thereto pursuant to the Schedule.
Appears in 6 contracts
Samples: Loan and Security Agreement (Community Medical Transport Inc), Loan and Security Agreement (1 800 Autotow Inc), Loan and Security Agreement (Community Medical Transport Inc)
Default Interest Rate. Upon the occurrence and during the continuation of an Event of Default, Borrower shall pay FINOVA interest on the daily outstanding balance of the Obligations and any L/C Fee at a rate per annum which is two percent (2%) in excess of the rate which would otherwise be applicable thereto pursuant to the Schedule.
Appears in 5 contracts
Samples: Loan and Security Agreement (Revenge Marine Inc), Loan and Security Agreement (Uniview Technologies Corp), Loan and Security Agreement (Nstor Technologies Inc)
Default Interest Rate. Upon the occurrence and during the continuation of an Event of Default, Borrower Borrowers shall jointly and severally pay FINOVA interest on the daily outstanding balance of the Obligations and any L/C Fee at a rate per annum which is two percent (2%) in excess of the rate which would otherwise be applicable thereto pursuant to the Schedule.
Appears in 2 contracts
Samples: Loan and Security Agreement (Digital Solutions Inc), Loan and Security Agreement (Digital Solutions Inc)
Default Interest Rate. Upon the occurrence and during the continuation of an Event of Default, Borrower shall pay FINOVA interest on the daily outstanding balance of the Obligations Borrower's loan account at a rate per annum which is two percent (2%) in excess of the rate which would otherwise be applicable thereto pursuant to the Schedule. All such default interest shall be payable upon demand of FINOVA.
Appears in 1 contract
Default Interest Rate. Upon the occurrence and during the continuation of an Event of Default, Borrower shall pay FINOVA interest on the daily outstanding balance of the Obligations Borrower's loan account at a rate per annum (the "Default Rate") which is two percent (2%) in excess of the rate which would otherwise be applicable thereto pursuant to the Schedule.
Appears in 1 contract
Samples: Loan and Security Agreement (Arv Assisted Living Inc)
Default Interest Rate. Upon the occurrence and during the continuation of an Event of Default, Borrower shall pay FINOVA interest on the daily outstanding balance of the Obligations Borrower's loan account at a rate per annum which is two percent (2%) in excess of the rate which would otherwise be applicable thereto pursuant to the ScheduleSchedule ("Default Interest").
Appears in 1 contract
Samples: Loan and Security Agreement (Performance Printing Corp)
Default Interest Rate. Upon the occurrence and during the continuation --------------------- of an Event of Default, Borrower shall pay FINOVA interest on the daily outstanding balance of the Obligations and any L/C Fee at a rate per annum which is two percent (2%) in excess of the rate which would otherwise be applicable thereto pursuant to the Schedule.
Appears in 1 contract
Default Interest Rate. Upon the occurrence and during the continuation of an Event of Default, Borrower shall pay FINOVA interest on the daily outstanding balance of the Obligations at a rate per annum which is two three percent (23.0%) in excess of the rate which would otherwise be applicable thereto pursuant to the Schedule.. Upon the curing of all Events of Default, the outstanding balance of the Obligations shall accrue at the rate applicable thereto pursuant to the Schedule. ---------------------
Appears in 1 contract
Samples: Loan and Security Agreement (Play Co Toys & Entertainment Corp)
Default Interest Rate. Upon the occurrence and during the continuation of an Event of Default, Borrower shall pay FINOVA interest on the daily outstanding balance of the Obligations and any L/C Fee at a rate per annum which is two three percent (23%) in excess of the rate which would otherwise be applicable thereto pursuant to the Schedule.
Appears in 1 contract
Samples: Secured Revolving Credit Note (Diamond Multimedia Systems Inc)
Default Interest Rate. Upon the occurrence and during the continuation of an Event of Default, Borrower shall pay FINOVA interest on the daily outstanding balance of the Obligations at a rate per annum which is two four percent (24%) in excess of the rate which would otherwise be applicable thereto pursuant to the Schedule.
Appears in 1 contract
Samples: Loan and Security Agreement (Automotive One Parts Stores Inc)
Default Interest Rate. Upon the occurrence and during the continuation of an Event of Default, Borrower shall pay FINOVA interest on the daily outstanding balance of the Obligations Borrower's loan account at a rate per annum which is two percent (2%) in excess of the rate which would otherwise be applicable thereto pursuant to the Schedule.
Appears in 1 contract
Samples: Loan and Security Agreement (Praegitzer Industries Inc)
Default Interest Rate. Upon the occurrence and during the continuation of an --------------------- Event of Default, Borrower shall pay FINOVA interest on the daily outstanding balance of the Obligations Borrower's loan account at a rate per annum which is two percent (2%) in excess of the rate which would otherwise be applicable thereto pursuant to the Schedule. All such default interest shall be payable upon demand of FINOVA.
Appears in 1 contract
Samples: Loan and Security Agreement (Avery Communications Inc)
