Common use of Default Interest Clause in Contracts

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 22 contracts

Samples: Credit Agreement (Cbre Holding Inc), Credit Agreement (Ryan's Restaurant Leasing Company, LLC), Credit Agreement (Cb Richard Ellis Group Inc)

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Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Alternate Base Rate plus 2.00%.

Appears in 10 contracts

Samples: Merger Company (Neenah Foundry Co), Credit Agreement (Hartley Controls Corp), Credit Agreement (Johnstown America Industries Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 2.07 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Alternate Base Rate plus 2.00%.

Appears in 9 contracts

Samples: www.sec.gov, Raytheon Co/, Raytheon Co/

Default Interest. If the Borrower shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunderhereunder or under any other Credit Document, by acceleration or otherwise, or under any other Loan Documentthen, the Borrower until such defaulted amount shall on demand from time to time pay interesthave been paid in full, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment shall bear interest (after as well as before judgment) ), payable on demand, (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%% per annum.

Appears in 7 contracts

Samples: Credit Agreement, Credit Agreement (DITECH HOLDING Corp), First Lien Security Agreement (Walter Investment Management Corp)

Default Interest. If the Borrower shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower then, until such defaulted amount shall on demand from time to time pay interesthave been paid in full, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment shall bear interest (after as well as before judgment) ), payable on demand, (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%% per annum.

Appears in 6 contracts

Samples: Abl Credit Agreement (Community Health Systems Inc), Abl Credit Agreement (Community Health Systems Inc), Abl Credit Agreement (Community Health Systems Inc)

Default Interest. If the Borrower shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower then, until such defaulted amount shall on demand from time to time pay interesthave been paid in full, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment shall bear interest (after as well as before judgment) ), payable on demand, (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan of the applicable Class plus 2.00%% per annum.

Appears in 5 contracts

Samples: Intercreditor Agreement (Community Health Systems Inc), Credit Agreement (Quorum Health Corp), Credit Agreement (Community Health Systems Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, hereunder or under any other Loan Document, by acceleration or otherwise, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 5 contracts

Samples: Credit Agreement (True Temper Sports PRC Holdings Inc), Credit Agreement (Blackboard Inc), Credit Agreement (Affirmative Insurance Holdings Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, and payable hereunder or under any other Loan Document, by acceleration or otherwise, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Term Loan plus 2.00%.

Appears in 5 contracts

Samples: Credit Agreement (NRG Energy, Inc.), Credit Agreement (NRG Energy, Inc.), Credit Agreement (NRG Energy, Inc.)

Default Interest. If the any Borrower shall default in the payment of the principal of or interest on any Loan or in the payment of any other amount becoming due hereunderhereunder (including, without limitation, the reimbursement pursuant to Section 2.3(d) of any draft drawn under a Letter of Credit), whether at stated maturity, by acceleration or otherwise, or under any other Loan Document, the such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount up to (but excluding not including) the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 360 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to 2% above the rate that would be then applicable to an ABR Revolving Loan plus 2.00%rate.

Appears in 5 contracts

Samples: Revolving Credit Agreement (Interstate Bakeries Corp/De/), Loan and Guaranty Agreement (Federal Mogul Corp), Revolving Credit Agreement (Interstate Bakeries Corp/De/)

Default Interest. If the either Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable sum of the Alternate Base Rate plus the Applicable Spread in effect from time to an ABR Revolving Loan time plus 2.00%.

Appears in 4 contracts

Samples: Credit Agreement (El Paso Electric Co /Tx/), Credit Agreement (El Paso Electric Co /Tx/), Credit Agreement (El Paso Electric Co /Tx/)

Default Interest. If the Borrower Borrowers shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower Borrowers shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to to, but excluding excluding, the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Alternate Base Rate plus 2.00%.

Appears in 4 contracts

Samples: Credit Agreement (Magellan Health Services Inc), Credit Agreement (Magellan Health Services Inc), Credit Agreement (Magellan Health Services Inc)

Default Interest. If the any Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR a Daily Rate Revolving Loan in the applicable currency plus 2.00%.

Appears in 3 contracts

Samples: Credit Agreement (Cb Richard Ellis Group Inc), Credit Agreement (Cb Richard Ellis Group Inc), Credit Agreement (Cb Richard Ellis Group Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 2.07 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed (including the first day but excluding the last day) over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 3 contracts

Samples: Day Credit Agreement (Laboratory Corp of America Holdings), Credit Agreement (Laboratory Corp of America Holdings), Credit Agreement (Laboratory Corp of America Holdings)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or in the payment of any other amount becoming due hereunder, whether at stated maturity, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount up to (but excluding not including) the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days or when the Alternate Base Rate is applicable and is based on the Prime Rate, a year with 365 days or 366 days, as the case may be, when determined by reference to the Prime Rate and over days in a year of 360 days at all other timesleap year) equal to (x) in the case of overdue principal of any Loan, at the rate that would be then applicable to an ABR Revolving such Loan plus 2.002.0% and (y) in the case of all other amounts, the rate applicable to ABR Loans plus 2.0%.

Appears in 3 contracts

Samples: Term Loan and Guaranty Agreement (Tower International, Inc.), Term Loan and Guaranty Agreement (Tower International, Inc.), Term Loan and Guaranty Agreement (Tower International, Inc.)

Default Interest. If the either Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Alternate Base Rate plus 2.00%.

Appears in 3 contracts

Samples: Credit Agreement (El Paso Electric Co /Tx/), Credit Agreement (El Paso Electric Co /Tx/), Credit Agreement (El Paso Electric Co /Tx/)

Default Interest. If the Borrower shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunderhereunder or under any other Credit Document, by acceleration or otherwise, or under any other Loan Documentthen, the Borrower until such defaulted amount shall on demand from time to time pay interesthave been paid in full, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment shall bear interest (after as well as before judgment) ), payable on demand, (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%% per annum.

Appears in 3 contracts

Samples: Credit Agreement (Walter Investment Management Corp), Credit Agreement (Walter Investment Management Corp), First Lien Credit Agreement (Walter Investment Management Corp)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Credit Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 2.06(a) plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Alternate Base Rate plus 2.00%.

Appears in 2 contracts

Samples: Credit Agreement (Century Maintenance Supply Inc), Credit Agreement (Hudson Respiratory Care Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, hereunder or under any other Loan Document, by acceleration or otherwise, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principalprincipal of any Loan, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum annum, and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Dollar Term Loan plus 2.00%.

Appears in 2 contracts

Samples: Credit Agreement (Belmond Ltd.), Credit Agreement (Orient Express Hotels LTD)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be sum of the Base Rate plus the Applicable Percentage applicable to an ABR Revolving Loan Base Rate Loans plus 2.00%.

Appears in 2 contracts

Samples: Credit Agreement (Allied Waste Industries Inc), Credit Agreement (Allied Waste Industries Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan Alternate Base Rate plus 2.00%% per annum.

Appears in 2 contracts

Samples: Credit Agreement (McDermott International Inc), Credit Agreement (McDermott International Inc)

Default Interest. If the any Borrower shall default in the ---------------- payment of the principal of or interest on any Loan or in the payment of any other amount becoming due hereunderhereunder (including, without limitation, the reimbursement pursuant to Section 2.3(d) of any draft drawn under a Letter of -------------- Credit), whether at stated maturity, by acceleration or otherwise, or under any other Loan Document, the such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount up to (but excluding not including) the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 360 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to 2% above the rate that would be then applicable to an ABR Revolving Loan plus 2.00%rate.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Bethlehem Steel Corp /De/), Credit and Guaranty Agreement (Bethlehem Steel Corp /De/)

Default Interest. If the Borrower shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower then, until such defaulted amount shall on demand from time to time pay interesthave been paid in full, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment shall bear interest (after as well as before judgment) ), payable on demand, (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%% per annum.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (Weight Watchers International Inc), First Lien Credit Agreement (Weight Watchers International Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan Loan, or any other amount reimbursement obligation in respect of an LC Disbursement, becoming due hereunder, whether by scheduled maturity, notice of prepayment, acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time from the Administrative Agent or the Required Lenders pay interest, to the extent permitted by applicable law, on such defaulted amount up to (but excluding not including) the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 360 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan Alternate Base Rate plus 2.002%.

Appears in 2 contracts

Samples: Revolving Credit and Letter of Credit Facility Agreement (Fingerhut Companies Inc), Fingerhut Companies Inc

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or in the payment of any other amount becoming due hereunderhereunder (including, without limitation, the reimbursement pursuant to Section 2.03(d) of any draft drawn under a Letter of Credit), whether at stated maturity, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount up to (but excluding not including) the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 360 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to (a) for any Eurodollar Loan the sum of two percent (2%) plus the rate that would be otherwise applicable to an ABR Revolving Loan thereto and (b) for all other amounts owing hereunder, the sum of the Alternate Base Rate plus 2.002%.

Appears in 2 contracts

Samples: Security Agreement (Carson Pirie Scott & Co /Il/), Credit and Guaranty Agreement (Carson Pirie Scott & Co /Il/)

Default Interest. If the Borrower Borrowers shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower Borrowers shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 2 contracts

Samples: Credit Agreement (Anteon International Corp), Credit Agreement (Anteon International Corp)

Default Interest. If the Borrower Borrowers shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunderhereunder or under any other Credit Document, by acceleration or otherwise, or under any other Loan Document, the Borrower then until such defaulted amount shall on demand from time to time pay interesthave been paid in full, to the extent permitted by law, on such defaulted overdue amount to but excluding the date of actual payment shall bear interest (after as well as before judgment) ), payable on demand, (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%% per annum.

Appears in 2 contracts

Samples: Credit Agreement (Endeavour International Corp), Intellectual Property Security Agreement (Endeavour International Corp)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 2.6 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Alternate Base Rate plus 2.005.00%.

Appears in 2 contracts

Samples: Conversion Notes Registration Rights Agreement (Danbury Pharmacal Puerto Rico Inc), Conversion Notes Registration Rights Agreement (Schein Pharmaceutical Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Base Rate plus 2.00%.

Appears in 2 contracts

Samples: Credit Agreement (Pacificorp /Or/), Credit Agreement (Pacificorp /Or/)

Default Interest. If the a Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, and payable hereunder or under any other Loan Document, the by acceleration or otherwise, such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 2 contracts

Samples: Credit Agreement (NRG Energy, Inc.), Credit Agreement (NRG Energy Inc)

Default Interest. If the any Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Alternate Base Rate plus 2.00%.

Appears in 1 contract

Samples: Credit Agreement (International Manufacturing Services Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunderhereunder or under any other Credit Document, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Liquidity Facility Loan plus 2.00%.

Appears in 1 contract

Samples: Credit Agreement (Dynegy Inc /Il/)

Default Interest. If the Borrower shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower then, until such defaulted amount shall on demand from time to time pay interesthave been paid in full, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment shall bear interest (after as well as before judgment) ), payable on demand, (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%% per annum.

Appears in 1 contract

Samples: Credit Agreement (St Louis Riverboat Entertainment Inc)

Default Interest. If the Borrower or any Guarantor, as the case may be, shall default in the payment of the principal of or interest on any Loan or in the payment of any other amount becoming due hereunder, whether at stated maturity, by acceleration or otherwise, or under any other Loan Document, the Borrower or such Guarantor, as the case may be, shall on written demand of the Administrative Agent from time to time pay interest, to the extent permitted by law, on such defaulted amount all overdue amounts up to (but excluding not including) the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be360 days or, when determined by reference to the Prime Alternate Base Rate and over is applicable, a year of 360 365 days at all other timesor 366 days in a leap year) equal to (a) with respect to the principal amount of any Loan, the rate that would be applicable to an ABR Revolving Loan plus 2.00%.then

Appears in 1 contract

Samples: Revolving Credit Agreement 2022 Revolving Credit and Guaranty Agreement (Allegiant Travel CO)

Default Interest. If the Borrower shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, hereunder or under any other Loan Document, the Borrower by acceleration or otherwise, then until such defaulted amount shall on demand from time to time pay interesthave been paid in full, such unpaid amounts, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment shall bear interest (after as well as before judgment) ), payable on demand, (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%% per annum.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Vantage Energy Inc.)

Default Interest. If the a Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 1 contract

Samples: Credit Agreement (Flowserve Corp)

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Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Credit Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum annum, and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 1 contract

Samples: Credit Agreement (Cross Country Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 1 contract

Samples: Credit Agreement (LTV Corp)

Default Interest. If the Borrower shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower then, until such defaulted amount shall on demand from time to time pay interesthave been paid in full, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment shall bear interest (after as well as before judgment) ), payable on demand, (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Term Loan plus 2.00%% per annum.

Appears in 1 contract

Samples: Credit Agreement (Sun Healthcare Group Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, hereunder or under any other Loan Document, by acceleration or otherwise, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 1 contract

Samples: Second Lien Credit Agreement (True Temper Sports Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Base Rate plus 2.00%. SECTION 2.08.

Appears in 1 contract

Samples: Credit Agreement (Pacificorp /Or/)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or in the payment of any other amount becoming due hereunderhereunder (including, without limitation, the reimbursement pursuant to Section 2.2(d) of any draft drawn under a Letter of Credit), whether at stated maturity, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount up to (but excluding not including) the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 360) days at all other times) equal to 2% above the rate that would be then applicable to an ABR Revolving Loan plus 2.00%rate.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Hayes Lemmerz International Inc)

Default Interest. If the Borrower shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, hereunder or under any other Loan Document, by acceleration or otherwise, all overdue amounts outstanding under this Agreement and the Borrower other Loan Documents shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment bear interest (after as well as before judgment) ), payable on demand, (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.002.0% per annum and (b) in with respect to all other casesoverdue amounts, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%2.0% per annum.

Appears in 1 contract

Samples: Credit Agreement (Sportsman's Warehouse Holdings, Inc.)

Default Interest. If the any Borrower shall default in the ---------------- payment of the principal of or interest on any Loan or in the payment of any other amount becoming due hereunderhereunder (including, without limitation, the reimbursement pursuant to Section 2.3(d) of any draft drawn under a Letter of -------------- Credit, whether at stated maturity, by acceleration or otherwise, or under any other Loan Document, the such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount up to (but excluding not including) the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to 2% above the rate that would be then applicable to an ABR Revolving Loan plus 2.00%rate.

Appears in 1 contract

Samples: Loan and Guaranty Agreement (Federal Mogul Corp)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Credit Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum annum; and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 1 contract

Samples: Credit Agreement (Cross Country Healthcare Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, and payable hereunder or under any other Loan Document, by acceleration or otherwise, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 1 contract

Samples: Fourth Amendment (NRG Energy, Inc.)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 360 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Alternate Base Rate plus 2.00%. Such default rate of interest is referred to herein as the "DEFAULT RATE".

Appears in 1 contract

Samples: Credit Agreement (Castle & Cooke Inc/Hi/)

Default Interest. If the Borrower shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower then, until such defaulted amount shall on demand from time to time pay interesthave been paid in full, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment shall bear interest (after as well as before judgment) ), payable on demand, (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Term Loan plus 2.00%% per annum.

Appears in 1 contract

Samples: Credit Agreement (Sun Healthcare Group Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, and payable hereunder or under any other Loan Document, by acceleration or otherwise, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Extended Maturity Term Loan plus 2.00%.

Appears in 1 contract

Samples: Credit Agreement (NRG Energy, Inc.)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, and payable hereunder or under any other Loan Document, by acceleration or otherwise, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or of any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) ), (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum annum, and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.

Appears in 1 contract

Samples: Credit Agreement (Burns Philp Netherlands European Holdings Bv)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.002% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Alternate Base Rate plus 2.002%.

Appears in 1 contract

Samples: Pledge Agreement (Tel Save Holdings Inc)

Default Interest. If the Borrower shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunderhereunder or under any other Credit Document, by acceleration or otherwise, or under any other Loan Documentthen, the Borrower until such defaulted amount shall on demand from time to time pay interesthave been paid in full, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment shall bear interest (after as well as before judgment) ), payable on demand, (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section ‎Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%% per annum.

Appears in 1 contract

Samples: Credit Agreement (PennyMac Financial Services, Inc.)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%.. 35 30

Appears in 1 contract

Samples: Credit Agreement (Fairchild Semiconductor International Inc)

Default Interest. If the Borrower shall default in the payment of the any principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, hereunder or under any other Loan Document, the Borrower by acceleration or otherwise, then until such defaulted amount shall on demand from time to time pay interesthave been paid in full, to the extent permitted by law, on such defaulted overdue amount to but excluding the date of actual payment shall bear interest (after as well as before judgment) ), payable on demand, (ai) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (bii) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be), when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%% per annum.

Appears in 1 contract

Samples: Credit Agreement (Energy & Exploration Partners, Inc.)

Default Interest. If the any Borrower shall default in the ----------------- payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Alternate Base Rate plus 2.00%.

Appears in 1 contract

Samples: Credit Agreement (Guarantee Life Companies Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, hereunder or under any other Loan Document, by acceleration or otherwise, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan plus 2.00%% per annum.

Appears in 1 contract

Samples: Credit Agreement (Affirmative Insurance Holdings Inc)

Default Interest. If the Borrower shall default in the payment of the principal of or interest on any Loan or any other amount becoming due hereunder, by acceleration or otherwise, or under any other Loan Document, the Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount to but excluding the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 or 366 360 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to the rate that would be applicable to an ABR Revolving Loan sum of the Alternate Base Rate plus 2.00%.

Appears in 1 contract

Samples: Credit Agreement (PSF Holdings LLC)

Default Interest. If the any Borrower shall default in the payment of the principal of or interest on any Loan or in the payment of any other amount becoming due hereunderhereunder (including, without limitation, the reimbursement pursuant to Section 2.3(d) of any draft drawn under a Letter of Credit), whether at stated maturity, by acceleration or otherwise, or under any other Loan Document, the such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount up to (but excluding not including) the date of actual payment (after as well as before judgment) (a) in the case of overdue principal, at the rate otherwise applicable to such Loan pursuant to Section 2.06 plus 2.00% per annum and (b) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 360 or 366 365/6 days, as the case may be, when determined by reference to the Prime Rate and over a year of 360 days at all other times) equal to 2% above the rate that would be then applicable to an ABR Revolving Loan plus 2.00%rate.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Usg Corp)

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