Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations shall be increased by 3.0% per annum (the “Default Rate”).
Appears in 8 contracts
Samples: Revolving Credit and Security Agreement (Americasdoctor Inc), Revolving Credit, Term Loan and Security Agreement (NationsHealth, Inc.), Revolving Credit and Term Loan Agreement (World Health Alternatives Inc)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations shall be increased by 3.05% per annum (the “Default Rate”). Such increase shall be in addition to any other specific charges provided for herein for noncompliance with specific provisions of this Agreement.
Appears in 5 contracts
Samples: Credit and Security Agreement (ALKALINE WATER Co INC), Credit and Security Agreement (Interpace Diagnostics Group, Inc.), Credit and Security Agreement (TRANS LUX Corp)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such from time with respect to the Obligations time thereafter shall automatically be increased by 3.0% three percent (3.00%) per annum (subject to the Maximum Rate) (the “Default Rate”). Interest at the Default Rate shall accrue from the initial date of such Event of Default until such Event of Default is waived, and shall be payable upon demand.
Appears in 5 contracts
Samples: Loan and Security Agreement (Harvest Capital Credit Corp), Loan and Security Agreement (Harvest Capital Credit Corp), Loan and Security Agreement (Harvest Capital Credit Corp)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations shall be increased by 3.0% per annum (the “"Default Rate”").
Appears in 4 contracts
Samples: Revolving Credit and Security Agreement (Synavant Inc), Revolving Credit and Security Agreement (Millstream Acquisition Corp), Revolving Credit and Security Agreement (Millstream Acquisition Corp)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations shall be increased by 3.05.0% per annum (the “"Default Rate”").
Appears in 3 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (Sunset Brands Inc), Revolving Credit, Term Loan and Security Agreement (PHC Inc /Ma/), Revolving Credit, Term Loan and Security Agreement (PHC Inc /Ma/)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations shall be increased by 3.04.0% per annum (the “Default Rate”).
Appears in 2 contracts
Samples: Credit and Security Agreement (Ventures National Inc), Revolving Credit and Security Agreement (Occupational Health & Rehabilitation Inc)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Interest Rate of interest then in effect at such time with respect to the Obligations shall be increased by 3.0% two percent (2%) per annum (the “Default Rate”). Interest at the Default Rate shall accrue from the initial date of such Event of Default until such Event of Default is waived or ceases to continue, and shall be payable upon demand.
Appears in 2 contracts
Samples: Note Issuance and Purchase Agreement (Enova International, Inc.), Note Issuance and Purchase Agreement (Enova International, Inc.)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations shall be increased by 3.0% two percent (2%) per annum (the “Default Rate”). Such increase shall be in addition to any other specific charges provided for herein for noncompliance with specific provisions of this Agreement.
Appears in 2 contracts
Samples: Credit and Security Agreement (Scilex Holding Co), Credit and Security Agreement (Vickers Vantage Corp. I)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate rate of interest in effect at such time with respect to the Obligations shall be increased by 3.02% per annum (the “Default Rate”).
Appears in 2 contracts
Samples: Credit and Security Agreement (Diamond Resorts Parent, LLC), Credit and Security Agreement (Diamond Resorts Parent, LLC)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations shall be increased by 3.05.0% per annum (the “Default Rate”).
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Derma Sciences, Inc.), Revolving Credit and Security Agreement (Rita Medical Systems Inc)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations shall be increased by 3.0% one percent (1%) per annum (the “Default Rate”)) or to the maximum legal rate whichever is the lesser.
Appears in 1 contract
Samples: Postpetition Revolving Credit and Security Agreement
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations and shall be increased by 3.04.0% per annum (the “Default Rate”).
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Access Worldwide Communications Inc)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations shall be increased by 3.04.0% per annum (the “"Default Rate”").
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (Derma Sciences Inc)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations shall be increased by 3.03.00% 35 per annum (the “Default Rate”). Such increase shall be in addition to any other specific charges provided for herein for noncompliance with specific provisions of this Agreement.
Appears in 1 contract
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations shall be increased by 3.0% per annum (the “Default Rate”)) upon notice by Lender to Borrower.
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (Teltronics Inc)
Default Rate of Interest. Upon the occurrence and during the continuation of an Event of Default, the Applicable Rate of interest in effect at such time with respect to the Obligations shall be increased by 3.02.0% per annum (the “Default Rate”).
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Women First Healthcare Inc)
