Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to: (a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; (b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect; (c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation; (d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and (e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 5 contracts
Sources: Credit Agreement (Whitestone REIT), Credit Agreement (Pillarstone Capital Reit), Credit Agreement (Whitestone REIT)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.03.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.03.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.03.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.03.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.03.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 5 contracts
Sources: Credit Agreement (Whitestone REIT Operating Partnership, L.P.), Credit Agreement (Whitestone REIT Operating Partnership, L.P.), Credit Agreement (Whitestone REIT)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, (x) the Borrower Borrowers shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement ObligationsObligations at a rate per annum equal to, and letter (y) with respect to any outstanding Letter of credit Credit, the Borrowers shall pay Letter of Credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of two percent (2.0% %) plus the Applicable Margin plus the Base Rate from time to time in effectrate otherwise applicable thereto under Section 1 or 2 hereof, respectively;
(b) for any Eurodollar Loan or the Swingline Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of two percent (2.0% %) plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% two percent (2%) plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Eurocurrency Loan, the sum of two percent (2.0%) plus the rate otherwise applicable thereto under Section 1 hereof; and
(d) for any Reimbursement Obligation, the sum of two percent (2.0% %) plus the amounts due rate otherwise applicable thereto under Section 1.3 with respect to such Reimbursement Obligation;1.2; and
(de) for any Letter of Credit, the sum of two percent (2.0% %) plus the letter of credit fee due under Section 2.1 4.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall Company (which notice may be paid on demand revoked at the direction of the Administrative Agent at Required Lenders notwithstanding any provision of Section 14.12 requiring the request or with the unanimous consent of the Required LendersLenders to reduce interest rates). Interest accrued pursuant to this Section 3.2 shall be payable on demand.
Appears in 4 contracts
Sources: Multicurrency Credit Agreement (Gallagher Arthur J & Co), Multicurrency Credit Agreement, Multicurrency Credit Agreement (Gallagher Arthur J & Co)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists is continuing (subject to the proviso below) or after accelerationacceleration of the Obligations as a result of an Event of Default, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all outstanding Loans and Reimbursement Obligations, and letter of credit fees and other amounts of outstanding Obligations at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.0% plus plus, in the rate case of interest any Eurodollar Loan, the Applicable Margin applicable thereto plus, in effect thereon the case of any Eurodollar Loan, the Adjusted LIBOR applicable at the time of such default Event of Default, or, in the case of any Swing Loan bearing interest at the Swing Line Lender’s Quoted Rate, the Swing Line Lender’s Quoted Rate applicable to such Swing Loan, in each case, until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.3(b) with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the L/C Participation Fee (for the avoidance of doubt, this shall not affect the Borrower’s obligation to pay a letter of credit fee due under Section 2.1 with respect to such Letter of Credit); and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationan acceleration of the Obligations as a result of an Event of Default, any adjustments pursuant to this Section 1.9 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest Interest accruing pursuant to this Section 1.9 shall be paid on the demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 4 contracts
Sources: Credit Agreement (American Finance Trust, Inc), Credit Agreement (American Finance Trust, Inc), Credit Agreement (American Finance Trust, Inc)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists is continuing or after accelerationacceleration of the Obligations as a result of an Event of Default, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all outstanding Loans and Reimbursement Obligations, and letter of credit fees and other amounts of outstanding Obligations at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 hereof with respect to interest on such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2(b) hereof with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationan acceleration of the Obligations as a result of an Event of Default, any adjustments pursuant to this Section 1.9 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest Interest accruing pursuant to this Section 1.9 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 4 contracts
Sources: Credit Agreement (Centerspace), Credit Agreement (Investors Real Estate Trust), Credit Agreement (Investors Real Estate Trust)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists is continuing or after accelerationacceleration of the Obligations as a result of an Event of Default, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all outstanding Loans and Reimbursement Obligations and other amounts of outstanding Obligations, and shall pay letter of credit fees fees, in each case, at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.3(b)(iii) with respect to interest on such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the amounts due under this Agreement with respect to such Letter of Credit (for the avoidance of doubt, this shall not affect the Borrower’s obligation to pay a letter of credit fee due under Section 2.1 with respect to such Letter of Credit); and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationan acceleration of the Obligations as a result of an Event of Default, any adjustments pursuant to this Section 1.9 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest Interest accruing pursuant to this Section 1.9 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 4 contracts
Sources: Credit Agreement (Global Medical REIT Inc.), Credit Agreement (Global Medical REIT Inc.), Credit Agreement (Global Medical REIT Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower Borrowers shall pay interest (after as well as before entry of judgment thereon to the extent permitted by lawLaw) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Canadian Prime Rate Loan, the sum of 2.0% plus the Applicable Margin plus the Canadian Prime Rate from time to time in effect;
(c) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(cd) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(de) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 2.12 with respect to such Letter of Credit; and
(ef) for any other amount owing hereunder not covered by clauses (a) through (de) above, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 8.2 or 8.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrowerrelevant Borrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 3 contracts
Sources: Multicurrency Credit Agreement (Fenix Parts, Inc.), Multicurrency Credit Agreement (Fenix Parts, Inc.), Multicurrency Credit Agreement (Fenix Parts, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists is continuing or after accelerationacceleration of the Obligations as a result of an Event of Default, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all outstanding Loans and Reimbursement Obligations, and letter of credit fees and other amounts of outstanding Obligations at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to interest on such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the amounts due under this Agreement with respect to interest on such Letter of Credit (for the avoidance of doubt, this shall not affect the Borrower’s obligation to pay a letter of credit fee due under Section 2.1 with respect to such Letter of Credit); and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationan acceleration of the Obligations as a result of an Event of Default, any adjustments pursuant to this Section 1.9 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest Interest accruing pursuant to this Section 1.9 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 3 contracts
Sources: Credit Agreement (American Finance Trust, Inc), Credit Agreement (American Realty Capital - Retail Centers of America, Inc.), Credit Agreement (American Realty Capital - Retail Centers of America, Inc.)
Default Rate. Notwithstanding anything to the contrary contained hereinclauses (a) and (b) above, while any if (i) an Event of Default exists specified in Section 9.1(a), Section 9.1(b), Section 9.1(g) or after accelerationSection 9.1(h) has occurred and is continuing, (ii) if an Event of Default specified in Section 9.1(d) (solely with respect to noncompliance with Section 8.4) or Section 9.1(e) (solely with respect to an Event of Default caused by a failure to deliver the financial statements required by Section 6.1) has occurred and has been continuing for thirty (30) days or (iii) otherwise at the request of the Required Lenders if any other Event of Default has occurred and is continuing, then at the request of the Required Lenders, the Borrower Borrowers shall pay interest interest, in each case (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, L/C Participation Fees and letter of credit fees other amounts owing by it at a rate per annum equal to:
(ai) for any Base Rate Loan or the Swingline and any Swing Loan bearing interest based on at the Base Rate, the sum of 2.02.00% per annum plus the Applicable Margin plus the Base Rate from time to time in effect;
(bii) for any Eurodollar LIBOR Rate Loan or the Swingline and any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.02.00% per annum plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.02.00% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(ciii) for any Reimbursement Obligation, the sum of 2.02.00% plus the amounts due under Section 1.3 3.5 with respect to such Reimbursement Obligation;
(div) for any Letter of Credit, the sum of 2.02.00% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.3 with respect to such Letter of Credit; and
(ev) for any other amount owing hereunder not covered by clauses (ai) through (div) above, the sum of 2.02.00% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 3 contracts
Sources: Credit Agreement (Fortegra Group, LLC), Credit Agreement (Fortegra Group, LLC), Credit Agreement (Tiptree Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Adjusted Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Adjusted Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Adjusted Base Rate Loans plus the Adjusted Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 3 contracts
Sources: Credit Agreement (LTC Properties Inc), Credit Agreement (LTC Properties Inc), Credit Agreement (LTC Properties Inc)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the any Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the any Swingline Loan bearing interest at the Administrative AgentSwingline Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter Letter of credit fee Credit Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 3 contracts
Sources: Credit Agreement (Willdan Group, Inc.), Credit Agreement (Willdan Group, Inc.), Credit Agreement (Willdan Group, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the each Borrower shall pay pay, after written notice from the Administrative Agent, interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement ObligationsObligations owed by it under the Loan Documents, and letter of credit fees from the date of such Event of Default or acceleration at a rate per annum equal to:
(a) for any U.S. Base Rate Loan or the Swingline any Swing Loan bearing interest based on the U.S. Base Rate, the sum of 2.0% plus the Applicable Margin plus the U.S. Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for U.S. Base Rate Loans plus the U.S. Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and;
(e) for any other amount owing hereunder not covered by clauses CAD Base Rate Loan or any Swing Loan bearing interest based on the CAD Base Rate, the sum of 2% plus the Applicable Margin plus the CAD Base Rate from time to time in effect; and
(af) through (d) abovefor any CAD CDOR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for CAD Base Rate Loans plus the CAD Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration or a Principal Payment Default (as defined below), any interest adjustments pursuant to this Section shall only be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrowers. If any principal amount of any Loan or Reimbursement Obligation is not paid when due (a “Principal Payment Default”) such principal amount shall bear interest at the rates specified in subsections (a) through (f) above until paid in full. While any Event of Default exists or after acceleration, interest as adjusted under this Section 1.10 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 3 contracts
Sources: Credit Agreement (Smucker J M Co), Credit Agreement (Smucker J M Co), Credit Agreement (Smucker J M Co)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists is continuing or after accelerationacceleration of the Obligations as a result of an Event of Default, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.03.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.03.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.03.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.03.0% plus the amounts due under Section 1.3 with respect to interest on such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.03.0% plus the amounts due under this Agreement with respect to interest on such Letter of Credit (for the avoidance of doubt, this shall not affect the Borrower’s obligation to pay letter of credit fee due under Section 2.1 with respect to such Letter of Credit); and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.03.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationan acceleration of the Obligations as a result of an Event of Default, any adjustments pursuant to this Section 1.9 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest Interest accruing pursuant to this Section 1.9 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 3 contracts
Sources: Credit Agreement (Umh Properties, Inc.), Credit Agreement (Umh Properties, Inc.), Credit Agreement (Umh Properties, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists under Section 9.1(a)(i), 9.1(b) (with respect to an Event of Default arising under Section 8.23), 9.1(j) or 9.1(k) or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, the application of this Section to any outstanding obligations and any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 3 contracts
Sources: Credit Agreement (Envestnet, Inc.), Credit Agreement (Envestnet, Inc.), Credit Agreement (Envestnet, Inc.)
Default Rate. Notwithstanding anything In the event Borrower fails to pay any of the contrary contained hereinObligations when due (after giving effect to any applicable grace or cure period), while or upon the commencement and during the continuance of an Insolvency Proceeding of Borrower, or upon the occurrence and during the continuance of any other Event of Default exists Default, immediately (and without notice or after accelerationdemand by any Lender or the Collateral Agent for payment thereof to Borrower), the Borrower such past due Obligations shall pay accrue interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
which is three percentage points (a3.00%) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus above the rate of interest in effect thereon at the time of such default until the end of the Interest Period that is otherwise applicable thereto (the “Default Rate”), and, thereafter, at a rate per annum equal notwithstanding anything to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time contrary in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d2.3(a) above, such interest shall be payable entirely in cash on demand of the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effectCollateral Agent; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lendersthat, with written notice respect to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative type described in Section 7, other than Sections 7.1 and 7.5, the Collateral Agent shall notify Borrower in writing regarding the accrual of interest at the request or with Default Rate in respect of any such Obligations as promptly as practicable following the consent occurrence of such Event of Default; provided, further, that the failure of the Required LendersCollateral Agent to deliver such notice to Borrower shall not constitute a waiver of any such Event of Default or affect the right of any Lender or the Collateral Agent to collect or demand such accrued interest with respect to any time prior to the giving of such notice or otherwise prejudice or limit any rights or remedies of the Collateral Agent or any Lender. Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment of any Obligations and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of the Collateral Agent or any Lender.
Appears in 2 contracts
Sources: Loan Agreement (Precigen, Inc.), Loan Agreement (Geron Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists is continuing or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts due under the Loan Documents at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base Rate, the sum of 2.03.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.03.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.03.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.03.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.03.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.03.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration of the Obligations as a result of an Event of Default, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest accruing pursuant to this Section 1.9 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Monmouth Real Estate Investment Corp), Credit Agreement (Monmouth Real Estate Investment Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateTerm SOFR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement ObligationObligation not converted into a Revolving Loan, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Performant Financial Corp), Credit Agreement (Performant Financial Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafterthereto, at a rate per annum equal which time such loans shall automatically convert to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effectLoans;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with prior written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on written demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Nobel Learning Communities Inc), Credit Agreement (Nobel Learning Communities Inc)
Default Rate. Notwithstanding anything to the contrary contained herein, while While any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, L/C Participation Fees and letter of credit fees other amounts owing by it at a rate per annum equal to:
(ai) for any Base Prime Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.02.00% per annum plus the Applicable Margin plus the Base Prime Rate from time to time in effect;; and
(bii) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateSOFR Loan, the sum of 2.02.00% per annum plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto andthereto, and thereafter, at a rate per annum equal to the sum of 2.02.00% plus the Applicable Margin for Base Prime Rate Loans plus the Base Prime Rate from time to time in effect;
(ciii) for any Reimbursement Obligation, the sum of 2.02.00% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(div) for any Letter of Credit, the sum of 2.02.00% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2.13(b) with respect to such Letter of Credit; and
(ev) for any other amount owing hereunder not covered by clauses (ai) through (div) above, the sum of 2.02.00% plus the Applicable Margin plus the Base Prime Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments increase in interest rates pursuant to this Section and any conversion of Loans into Prime Rate Loans shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, accrued interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Limbach Holdings, Inc.), Credit Agreement (Limbach Holdings, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the each Borrower shall pay pay, after written notice from the Administrative Agent, interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement ObligationsObligations owed by it under the Loan Documents, and letter of credit fees from the date of such Event of Default or acceleration at a rate per annum equal to:
(a) for any U.S. Base Rate Loan or the Swingline any Swing Loan bearing interest based on the U.S. Base Rate, the sum of 2.0% plus the Applicable Margin plus the U.S. Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for U.S. Base Rate Loans plus the U.S. Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and;
(e) for any other amount owing hereunder not covered by clauses (a) through (d) aboveCAD Base Rate Loan or any Swing Loan bearing interest based on the CAD Base Rate, the sum of 2.0% plus the Applicable Margin plus the CAD Base Rate from time to time in effect; and
(f) for any CAD CDOR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for CAD Base Rate Loans plus the CAD Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration or a Principal Payment Default (as defined below), any interest adjustments pursuant to this Section shall only be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrowers. If any principal amount of any Loan or Reimbursement Obligation is not paid when due (a “Principal Payment Default”) such principal amount shall bear interest at the rates specified in subsections (a) through (f) above until paid in full. While any Event of Default exists or after acceleration, interest as adjusted under this Section 1.10 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement, Credit Agreement (Smucker J M Co)
Default Rate. Notwithstanding anything to the contrary contained hereinin Section 1.4 hereof, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Eurocurrency Loan denominated in U.S. Dollars or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;; and
(c) for any Reimbursement ObligationEurocurrency Loan denominated in an Alternative Currency, the sum of 2.0% plus the amounts due under Section 1.3 with respect rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Overnight Foreign Currency Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Penford Corp), Credit Agreement (Penford Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Revolving Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 3.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (LTC Properties Inc), Credit Agreement (LTC Properties Inc)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter Letter of credit fee Credit Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required LendersBank, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required LendersBank.
Appears in 2 contracts
Sources: Credit Agreement (Willdan Group, Inc.), Credit Agreement (Willdan Group, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after accelerationacceleration of the Obligations pursuant to Sections 9.2 or 9.3, the Borrower Borrowers shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(b) for any Eurodollar Eurocurrency Loan denominated in U.S. Dollars or the Swingline any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Eurocurrency Loan denominated in an Alternative Currency, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of (i) the Applicable Margin for Eurocurrency Loans plus (ii) two percent (2%) plus (iii) the Overnight Rate with respect to such unpaid amount; and
(d) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount fees due and owing and hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration of the Obligations pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section 1.10 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower Representative. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders. For the avoidance of doubt, to the extent and for so long as the Borrowers are required to pay interest on the principal amount of all Loans and Reimbursement Obligations pursuant to this Section 1.10, no interest shall be due and payable pursuant to Section 1.4.
Appears in 2 contracts
Sources: Amendment Agreement (Boulder Brands, Inc.), Credit Agreement (Boulder Brands, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower Borrowers shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent or Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower Representative. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent or Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit and Guaranty Agreement (Sparton Corp), Credit and Guaranty Agreement (Sparton Corp)
Default Rate. Notwithstanding anything to Upon the contrary contained herein, while occurrence and during the continuation of any Event of Default, until the time when such Event of Default exists shall have been cured or after accelerationwaived in writing by the Requisite Lenders or all the Lenders (as may be required by this Agreement), the Borrower shall pay interest (after including post-petition interest in any proceeding under the Bankruptcy Code or other applicable bankruptcy laws, whether or not allowed as well as before entry of judgment thereon to the extent permitted by lawa claim in bankruptcy) on the aggregate, outstanding principal amount of all Loans and Reimbursement Obligations hereunder at a per annum rate equal to two percent (2.00%) plus the otherwise applicable interest rate or, if no such per annum rate is applicable to any such Obligations, and letter of credit fees at a rate per annum rate equal to:
to two percent (a2.00%) for any Base Rate Loan or the Swingline Loan bearing interest based on plus the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus (the Base Rate from time to time in effect;
(c“Default Rate”) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effectpayable on demand; provided, however, that in the absence of acceleration, any adjustments pursuant Borrower shall have no obligation to this Section shall be made pay interest at the election of Default Rate until such time as the Administrative Agent, acting at the request or with the consent of the Required Lenders, with Requisite Lenders have delivered written notice to the Borrower. While thereof with respect any Event of Default exists or after accelerationother than the Events of Default set forth in Sections 8.1 (solely with respect to the payment of principal and interest), 8.6 and 8.7 (in which case the Borrower’s obligation to pay interest at the Default Rate shall be automatic); provided, further, if the Borrower is required to pay interest at the Default Rate pursuant to this subsection 2.2E, the Requisite Lenders may require that interest shall be paid on demand begin to accrue at the Default Rate upon the occurrence of the Administrative Agent underlying Event of Default. Overdue interest shall itself bear interest at the request or Default Rate, and shall be compounded with the consent of principal Obligations daily, to the Required Lendersfullest extent permitted by applicable laws.
Appears in 2 contracts
Sources: Credit Agreement (Isle of Capri Casinos Inc), Credit Agreement (Isle of Capri Casinos Inc)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s 's Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Fifth Street Finance Corp), Credit Agreement (Plexus Corp)
Default Rate. Notwithstanding anything to the contrary contained hereinclauses (a) and (b) above, while any if (i) an Event of Default exists specified in Section 8.1(a), Section 8.1(b), Section 8.1(g) or after accelerationSection 8.1(h) has occurred and is continuing, (ii) if an Event of Default specified in Section 8.1(d) (solely with respect to noncompliance with Section 7.4) or Section 8.1(e) (solely with respect to an Event of Default caused by a failure to deliver the financial statements required by Section 6.1) has occurred and has been continuing for thirty (30) days or (iii) otherwise at the request of the Required Lenders if any other Event of Default has occurred and is continuing, then at the request of the Required Lenders, the Borrower Borrowers shall pay interest interest, in each case (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, L/C Participation Fees and letter of credit fees other amounts owing by it at a rate per annum equal to:
(ai) for any Base Rate Loan or the Swingline and any Swing Loan bearing interest based on at the Base Rate, the sum of 2.02.00% per annum plus the Applicable Margin plus the Base Rate from time to time in effect;
(bii) for any Eurodollar Tranche Rate Loan, Alternative Currency Loan or the Swingline and any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.02.00% per annum plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.02.00% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(ciii) for any Reimbursement Obligation, the sum of 2.02.00% plus the amounts due under Section 1.3 3.5 with respect to such Reimbursement Obligation;
(div) for any Letter of Credit, the sum of 2.02.00% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.3 with respect to such Letter of Credit; and
(ev) for any other amount owing hereunder not covered by clauses (ai) through (div) above, the sum of 2.02.00% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Fortegra Group, Inc), Credit Agreement (Tiptree Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter Applicable Margin for Letter of credit fee Credit Fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Smart Balance, Inc.), Credit Agreement (Smart Balance, Inc.)
Default Rate. Notwithstanding anything to If any payment of principal on any Loan is not made when due after the contrary contained hereinexpiration of the grace period therefor provided in Section 8.1(a) (whether by acceleration or otherwise), while or any Event of Default exists Reimbursement Obligation is not paid when due as provided in Section 2.12(c), such past due Loan or after acceleration, the Borrower Reimbursement Obligation shall pay bear interest (after as well as before entry of judgment thereon to the extent permitted by law) computed on the principal amount basis of all Loans and Reimbursement Obligationsa year of 360, 365 or 366 days, as applicable, and letter of credit fees actual days elapsed) after any such grace period expires until such principal then due is paid in full, which each Borrower agrees to pay on demand, at a rate per annum equal to:
(a) (i) for any Base Rate Loan or Revolving Loan, the Swingline Loan bearing interest based on lesser of (A) the Base Rate, Highest Lawful Rate and (B) the sum of 2.0% plus the Applicable Margin two percent (2%) per annum plus the Base Rate from time to time in effecteffect (but not less than the Base Rate in effect at the time such payment was due) plus the Applicable Margin, and (ii) for any Swingline Loan, the lesser of (A) the Highest Lawful Rate and (B) the sum of two percent (2%) per annum plus the LIBOR Market Index Rate from time to time in effect (but not less than the LIBOR Market Index Rate in effect at the time such payment was due) plus the Applicable Margin;
(b) for any Eurodollar Loan or Revolving Loan, the Swingline Loan bearing interest at lesser of (i) the Administrative Agent’s Quoted Rate, Highest Lawful Rate and (ii) the sum of 2.0% two percent (2%) per annum plus the rate of interest (inclusive of the Applicable Margin) in effect thereon at the time of such default until the end of the Interest Period applicable thereto for such Loan and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans two percent (2%) per annum plus the Base Rate from time to time in effect;effect (but not less than the Base Rate in effect at the time such payment was due) plus the Applicable Margin for Base Rate Revolving Loans; and
(c) for any unpaid Reimbursement ObligationObligations, the lesser of (i) the Highest Lawful Rate and (ii) the sum of 2.0% two percent (2%) per annum plus (x) in the amounts due under Section 1.3 with respect to such case of any Reimbursement Obligation;
(d) for any Letter of CreditObligations payable in Dollars, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; providedeffect (but not less than the Base Rate in effect at the time such payment was due) plus the Applicable Margin for Base Rate Revolving Loans, however, that or (y) in the absence case of accelerationany Reimbursement Obligations payable in any currency other than Dollars, the interest rate (inclusive of the Applicable Margin) that would otherwise then be applicable under this Agreement to a Eurodollar Revolving Loan for an Interest Period of one month as from time to time in effect (but not less than such interest rate in effect at the time such payment was due). It is the intention of the Administrative Agent and the Lenders to conform strictly to usury laws applicable to them. Accordingly, if the transactions contemplated hereby or any adjustments pursuant Loan or other Obligation would be usurious as to any of the Lenders under laws applicable to it (including the laws of the United States of America, including to the extent applicable, 46 U.S.C. Section 31322(b)), and the State of New York or any other jurisdiction whose laws may be mandatorily applicable to such Lender notwithstanding the other provisions of this Section Agreement, the Notes or any other Credit Document), then, in that event, notwithstanding anything to the contrary in this Agreement, the Notes or any other Credit Document, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under laws applicable to such Lender that is contracted for, taken, reserved, charged or received by such Lender under this Agreement, the Notes or any other Credit Document or otherwise shall under no circumstances exceed the Highest Lawful Rate, and any excess shall be made at credited by such Lender on the principal amount of the Loans or to the Reimbursement Obligations (or, if the principal amount of the Loans and all Reimbursement Obligations shall have been paid in full, refunded by such Lender to the applicable Borrower); and (ii) in the event that the maturity of the Loans is accelerated by reason of an election of the Administrative Agent, acting at the request holder or with the consent of the Required Lenders, with written notice to the Borrower. While holders thereof resulting from any Event of Default exists hereunder or after accelerationotherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest under laws applicable to such Lender may never include more than the Highest Lawful Rate, and excess interest, if any, provided for in this Agreement, the Notes, any other Credit Document or otherwise shall be paid on demand automatically canceled by such Lender as of the Administrative Agent at date of such acceleration or prepayment and, if theretofore paid, shall be credited by such Lender on the request or with the consent principal amount of the Required LendersLoans or to the Reimbursement Obligations (or if the principal amount of the Loans and all Reimbursement Obligations shall have been paid in full, refunded by such Lender to the applicable Borrower).
Appears in 2 contracts
Sources: Senior Secured Revolving Credit Agreement (Paragon Offshore Ltd.), Senior Secured Revolving Credit Agreement (Noble Corp PLC)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after accelerationacceleration of the Obligations, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Daily Simple SOFR Loan, Base Rate Loan or the any Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar SOFR Loan or the any Swingline Loan bearing interest at the Administrative AgentSwingline Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration of the Obligations pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after accelerationacceleration of the Obligations, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Postal Realty Trust, Inc.), Credit Agreement (Postal Realty Trust, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar SOFR Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (Whitestone REIT), Credit Agreement (Whitestone REIT)
Default Rate. Notwithstanding anything to If any payment of principal on any Loan is not made when due after the contrary contained hereinexpiration of the grace period therefor provided in Section 8.1(a) (whether by acceleration or otherwise), while such past due Loan shall bear interest (computed on the basis of a year of 360, 365 or 366 days, as applicable, and actual days elapsed) after any Event of Default exists or after accelerationsuch grace period expires until such principal then due is paid in full, which the Borrower shall agrees to pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligationsdemand, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or Term Loan, the Swingline Loan bearing interest based on lesser of (A) the Base Rate, Highest Lawful Rate and (B) the sum of 2.0% plus the Applicable Margin two percent (2%) per annum plus the Base Rate from time to time in effect;effect (but not less than the Base Rate in effect at the time such payment was due) plus the Applicable Margin; and
(b) for any Eurodollar Loan or Term Loan, the Swingline Loan bearing interest at lesser of (i) the Administrative Agent’s Quoted Rate, Highest Lawful Rate and (ii) the sum of 2.0% two percent (2%) per annum plus the rate of interest (inclusive of the Applicable Margin) in effect thereon at the time of such default until the end of the Interest Period applicable thereto for such Loan and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans two percent (2%) per annum plus the Base Rate from time to time in effect;
effect (cbut not less than the Base Rate in effect at the time such payment was due) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the for Base Rate from time Term Loans. It is the intention of the Administrative Agent and the Lenders to time conform strictly to usury laws applicable to them. Accordingly, if the transactions contemplated hereby or any Loan or other Obligation would be usurious as to any of the Lenders under laws applicable to it (including the laws of the United States of America, including to the extent applicable, 46 U.S.C. Section 31322(b)), and the State of New York or any other jurisdiction whose laws may be mandatorily applicable to such Lender notwithstanding the other provisions of this Agreement, the Term Loan Notes or any other Credit Document), then, in effectthat event, notwithstanding anything to the contrary in this Agreement, the Term Loan Notes or any other Credit Document, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under laws applicable to such Lender that is contracted for, taken, reserved, charged or received by such Lender under this Agreement, the Term Loan Notes or any other Credit Document or otherwise shall under no circumstances exceed the Highest Lawful Rate, and any excess shall be credited by such Lender on the principal amount of the Loans (or, if the principal amount of the Loans shall have been paid in full, refunded by such Lender to the Borrower); provided, however, that and (ii) in the absence event that the maturity of acceleration, any adjustments pursuant to this Section shall be made at the Loans is accelerated by reason of an election of the Administrative Agent, acting at the request holder or with the consent of the Required Lenders, with written notice to the Borrower. While holders thereof resulting from any Event of Default exists hereunder or after accelerationotherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest under laws applicable to such Lender may never include more than the Highest Lawful Rate, and excess interest, if any, provided for in this Agreement, the Term Loan Notes, any other Credit Document or otherwise shall be paid on demand automatically canceled by such Lender as of the Administrative Agent at date of such acceleration or prepayment and, if theretofore paid, shall be credited by such Lender on the request or with the consent principal amount of the Required LendersLoans (or if the principal amount of the Loans shall have been paid in full, refunded by such Lender to the Borrower).
Appears in 2 contracts
Sources: Senior Secured Term Loan Agreement (Paragon Offshore PLC), Senior Secured Term Loan Agreement (Paragon Offshore Ltd.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after accelerationexists, the each Borrower shall pay pay, after written notice from the Administrative Agent sent at the direction of the Required Lenders (provided no such notice or Required Lender direction to send such notice shall be required in the case of an Event of Default under Section 9.1(j) or (k) or a Principal Payment Default (as defined below)), interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans Loans, Reimbursement Obligations and Reimbursement Obligationsother amounts owed by such Borrower under the Loan Documents, and letter from the date of credit fees such written notice (or, in the case of an Event of Default under Section 9.1(j) or (k) or a Principal Payment Default, the date of such Event of Default) at a rate per annum equal to:to (the “Default Rate”):
(a) for any U.S. Base Rate Loan or the Swingline any Swing Loan bearing interest based on the U.S. Base Rate, the sum of 2.0% plus the Applicable Margin plus the U.S. Base Rate from time to time in effect;
(b) for any Eurodollar LIBOR Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted Ratedenominated in U.S. Dollars, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for U.S. Base Rate Loans plus the U.S. Base Rate from time to time in effect;
(c) for any LIBOR Loan denominated in Euros, (x) the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and (y) thereafter, the sum of 2.0% plus the Applicable Margin for LIBOR Loans plus Adjusted LIBOR for the applicable Interest Period;
(d) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(de) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit;
(f) [reserved]; and
(eg) for any other amount owing hereunder not covered by clauses (a) through (d) aboveCAD CDOR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for U.S. Base Rate Loans plus the U.S. Base Rate (with such amount to be converted to and calculated on the U.S. Dollar Equivalent amount of such Loan and paid in U.S. Dollars) from time to time in effect; provided, however, that in the absence . If any principal amount of acceleration, any adjustments pursuant to this Section Loan or Reimbursement Obligation is not paid when due (a “Principal Payment Default”) such principal amount shall be made bear interest at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrowerrates specified in subsections (a) through (g) above until paid in full. While any Event of Default exists or after accelerationexists, interest as adjusted under this Section 1.10 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (J M SMUCKER Co), Revolving Credit Agreement (J M SMUCKER Co)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or Daily Simple SOFR Loan, the Swingline Loan bearing interest at sum of 2.0% plus the Administrative Agent’s Quoted RateApplicable Margin plus the Daily Simple SOFR from time to time in effect;
(c) for any Term SOFR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(cd) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.2 with respect to such Reimbursement Obligation;; and
(de) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 3.1 with respect to such Letter of Credit; and
(ef) for any other amount owing hereunder not covered by clauses (a) through (de) above, the sum of 2.02% plus the Applicable Margin for Revolving Credit Base Rate Loans plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 2 contracts
Sources: Credit Agreement (LTC Properties Inc), Credit Agreement (LTC Properties Inc)
Default Rate. Notwithstanding anything to If any payment of principal on any Term Loan is not made when due after the contrary contained hereinexpiration of the grace period therefor provided in Section 7.1(a) (whether by acceleration or otherwise), while such Term Loan shall bear interest (computed on the basis of a year of 360, 365 or 366 days, as applicable, and actual days elapsed) after any Event of Default exists or after accelerationsuch grace period expires until such principal then due is paid in full, which the Borrower shall agrees to pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligationsdemand, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or Loan, the Swingline Loan bearing interest based on lesser of (i) the Base Highest Lawful Rate, or (ii) the sum of 2.0% plus the Applicable Margin two percent (2%) per annum plus the Base Rate from time to time in effect;effect (but not less than the Base Rate in effect at the time such payment was due); and
(b) for any Eurodollar Loan or Loan, the Swingline Loan bearing interest at lesser of (i) the Administrative Agent’s Quoted Highest Lawful Rate, or (ii) the sum of 2.0% two percent (2%) per annum plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto for such Eurodollar Loan and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans two percent (2%) per annum plus the Base Rate, in each case from time to time in effect (but not less than the Base Rate in effect at the time such payment was due). It is the intention of the Administrative Agent and the Lenders to conform strictly to usury laws applicable to them. Accordingly, if the transactions contemplated hereby or any Term Loan or other Obligation would be usurious as to any of the Lenders under laws applicable to it (including the laws of the United States of America and the State of New York or any other jurisdiction whose laws may be mandatorily applicable to such Lender notwithstanding the other provisions of this Agreement, the Notes or any other Credit Document), then, in that event, notwithstanding anything to the contrary in this Agreement, the Notes or any other Credit Document, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under laws applicable to such Lender that is contracted for, taken, reserved, charged or received by such Lender under this Agreement, the Notes or any other Credit Document or otherwise shall under no circumstances exceed the Highest Lawful Rate, and any excess shall be credited by such Lender on the principal amount of the Term Loans (or, if the principal amount of the Term Loans shall have been paid in full, refunded by such Lender to the Borrower); and (ii) in the event that the maturity of the Term Loans is accelerated by reason of an election of the holder or holders thereof resulting from any Event of Default hereunder or otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest under laws applicable to such Lender may never include more than the Highest Lawful Rate, and excess interest, if any, provided for in this Agreement, the Notes, any other Credit Document or otherwise shall be automatically canceled by such Lender as of the date of such acceleration or prepayment and, if theretofore paid, shall be credited by such Lender on the principal amount of the Term Loans (or if the principal amount of the Term Loans shall have been paid in full, refunded by such Lender to the Borrower). To the extent that the Texas Finance Code, Chapters 302 and 303, are relevant to the Administrative Agent and the Lenders for the purpose of determining the Highest Lawful Rate, the Administrative Agent and the Lenders hereby elect to determine the applicable rate ceiling under such Chapter by the indicated (weekly) rate ceiling from time to time in effect;
(c) for any Reimbursement Obligation, subject to their right subsequently to change such method in accordance with applicable law. In the event the Term Loans are paid in full by the Borrower prior to the full stated term of the Term Loans and the interest received from the actual period of the existence of the Term Loans exceeds the Highest Lawful Rate, the sum of 2.0% plus Lenders shall refund to the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, Borrower the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at excess or shall credit the request or with the consent amount of the Required Lenders, with written notice to excess against amounts owing under the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand Term Loans and none of the Administrative Agent at or the request or with the consent Lenders shall be subject to any of the Required Lenderspenalties provided by law for contracting for, taking, reserving, charging or receiving interest in excess of the Highest Lawful Rate.
Appears in 2 contracts
Sources: Term Credit Agreement (Transocean Inc), Term Credit Agreement (Transocean Inc)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after accelerationacceleration of the Obligations, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the any Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar EurodollarSOFR Loan or the any Swingline Loan bearing interest at the Administrative AgentSwingline Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration of the Obligations pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after accelerationacceleration of the Obligations, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained hereinin Section 1.4 hereof, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effecteffect (computed on the basis of a year of 365 or 366 days, as the case may be, for the actual number of days elapsed);
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s 's Quoted Rate, the sum of 2.02% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto (computed on the basis of a year of 360 days for the actual number of days elapsed) and, thereafter, at a rate per annum equal to the sum of 2.02% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effecteffect (computed on the basis of a year of 365 or 366 days, as the case may be, for the actual number of days elapsed);
(c) for any Reimbursement Obligation, the sum of 2.02% plus the amounts due under Section 1.3 1.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.02% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest and fees shall continue to be due and payable as otherwise provided in this Agreement and, in addition, such interest and fees shall also be paid on demand of the Administrative Agent acting at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while While any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees owing by it at a rate per annum equal to:
(ai) for any Base Rate Loan or the Swingline and any Swing Loan bearing interest based on at the Base Rate, the sum of 2.0% per annum plus the Applicable Margin plus the Base Rate from time to time in effect;; and
(bii) for any Eurodollar Loan or the Swingline and any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% per annum plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments increase in interest rates pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, accrued interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
2.11. Clause (i) of Section 2.5(e) of the Credit Agreement is amended and restated in its entirety to read as follows:
(i) from the date the related advance was made by the Administrative Agent to the date two (2) Business Days after payment by such Lender is due hereunder, the greater of, for each such day, (x) the Federal Funds Rate and (y) an overnight rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any standard administrative or processing fees charged by the Administrative Agent in connection with such Lender’s non-payment and
2.12. Section 2.8(b) of the Credit Agreement is amended by inserting a new subclause (vii) at the end thereof to read as follows:
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists is continuing or after accelerationacceleration of the Obligations as a result of an Event of Default, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all outstanding Loans and Reimbursement Obligations, and letter of credit fees and other amounts of outstanding Obligations at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateDaily Simple SOFR Loan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateSOFR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 hereof with respect to interest on such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2(b) hereof with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationan acceleration of the Obligations as a result of an Event of Default, any adjustments pursuant to this Section 1.9 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest Interest accruing pursuant to this Section 1.9 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Second Amendment to Third Amended and Restated Credit Agreement (Centerspace)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay The interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate in effect from time to time in effect;
under this Note may be herein referred to as the “Note Rate.” Upon the occurrence of any default hereunder or Event of Default under the Loan Documents or Bond Documents (b) for as defined therein, subject to any Eurodollar applicable notice and cure periods), the Loan or the Swingline Loan bearing shall bear interest at the Administrative Agent’s Quoted rate which is five percent (5%) above the then current Note Rate (the “Default Rate”), the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in no event shall the absence Default Rate exceed the lesser of acceleration(i) the maximum rate permitted by law or (ii) twelve percent (12%) per annum. Additionally, any adjustments from and after (a) the CCRC Takeout Loan Maturity Date, (b) the Mandatory Conversion Date, to the extent that the Conversion Date does not occur prior to the Mandatory Conversion Date (unless extended pursuant to the Loan Agreement), or (c) any other date that all sums owing on this Section Note become due and payable by acceleration or otherwise, this Note shall be made bear interest at the election of the Administrative AgentDefault Rate. Accrued interest, acting at the request Note Rate, if not paid when due, shall accrue at the Default Rate, as hereinabove provided, which may result in compounding of interest. Except as otherwise set forth herein or with in any other Loan Document, payments under this Note or under any other Loan Document that are due on demand, shall bear interest at the consent Default Rate (i) from the date costs or expenses are incurred by the holder of the Required Lenders, with written notice this Note that give rise to the Borrower. While any Event demand or (ii) if there is no such date, then from the date of Default exists or after accelerationdemand, interest shall be paid on demand until Borrower pays the full amount of the Administrative Agent at the request or with the consent of the Required Lenderssuch payment, including interest.
Appears in 1 contract
Sources: Promissory Note
Default Rate. Notwithstanding anything to the contrary contained hereinin Section 1.3 hereof, while any Event of Default exists or after acceleration, the Borrower shall Borrowers shall, jointly and severally, pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, Obligations and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted Rateany Swing Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for the Fixed Rate Loan, the sum of 2% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, a rate per annum equal to the sum of the Fixed Rate plus an amount such that the rate per annum is equivalent to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(d) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(de) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that (i) in the event the Fixed Rate Loan, or portion thereof, is not paid when due, the overdue amount thereof shall bear interest at the rate per annum equal to the rate per annum applicable to Base Rate Loans hereunder after default and (ii) in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrowers. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Rc2 Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after accelerationexists, the each Borrower shall pay on demand, after written notice from the Administrative Agent sent at the written direction of the Required Lenders (provided no such notice or Required Lender direction to send such notice shall be required in the case of a Specified Event of Default), interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans Loans, Reimbursement Obligations and Reimbursement Obligationsother amounts owed by such Borrower under the Loan Documents, and letter from the date of credit fees such written notice (or, in the case of a Specified Event of Default, the date of such Specified Event of Default) at a rate per annum equal to:to (the “Default Rate”):
(a) for any U.S. Base Rate Loan or the Swingline any Swing Loan bearing interest based on the U.S. Base Rate, the sum of 2.0% plus the Applicable Margin plus the U.S. Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateTerm SOFR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for U.S. Base Rate Loans plus the U.S. Base Rate from time to time in effect;
(c) for any EURIBOR Loan, (x) the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and (y) thereafter, the sum of 2.0% plus the Applicable Margin for EURIBOR Loans plus EURIBOR for the applicable Interest Period;
(d) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(de) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(ef) for any other amount owing hereunder not covered by clauses Term ▇▇▇▇▇ Loan, (ax) through the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and (d) abovey), thereafter, the sum of 2.0% plus the Applicable Margin for Term ▇▇▇▇▇ Loans plus the Base Term ▇▇▇▇▇ Rate from time to time in effect; provided, however, that in for the absence applicable Interest Period. If any principal amount of acceleration, any adjustments pursuant to this Section Loan or Reimbursement Obligation is not paid when due (a “Principal Payment Default”) such principal amount shall be made bear interest at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be rates specified in subsections (a) through (f) above until paid on demand of the Administrative Agent at the request or with the consent of the Required Lendersin full.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Plexus Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, if so directed by the Required Lenders, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to::
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;;
(b) for any Eurodollar Loan or Daily Simple SOFR Rate Loan, the Swingline Loan bearing interest at sum of 2.0% plus the Administrative Agent’s Quoted RateApplicable Margin plus Daily Simple SOFR from time to time in effect;
(c) for any Term SOFR Rate Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto plus the Applicable Margin and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(cd) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(de) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section 1.9 shall be made at the election of by the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on the demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Second Amended and Restated Credit Agreement (CTO Realty Growth, Inc.)
Default Rate. Notwithstanding anything to the contrary contained hereinin Section 1.3 hereof, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees then owing by it at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.2(c) hereof with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under the second sentence of Section 2.1 2.1(b) hereof with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (CTS Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or Loan, upon the Swingline Loan bearing interest based on written election of the Base RateAdministrative Agent, the sum of 2.0% per annum plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or Loan, upon the Swingline Loan bearing interest at written election of the Administrative Agent’s Quoted Rate, the sum of 2.0% per annum plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% per annum plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any unpaid Reimbursement Obligation, the sum of 2.0% per annum plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% per annum plus the letter Letter of credit fee Credit Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% per annum plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Shimmick Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Payment Default exists or after acceleration, the Borrower Borrowers shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the any Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the any Swingline Loan bearing interest at the Administrative AgentSwingline Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Payment Default or acceleration until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.2 with respect to such Reimbursement Obligation;
(d) for the undrawn amount of any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrowers (which election may be retroactively effective to the date of such Payment Default). While any Event of Payment Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Hub Group, Inc.)
Default Rate. Notwithstanding anything to the contrary contained hereinin Section 1.2 hereof, while any Event of Default exists or (unless and until rescinded by the Required Banks) after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Loans, Reimbursement Obligations, Obligations and letter of credit fees (computed on the basis of a year of 360 days and actual days elapsed or, if based on the Base Rate or with respect to Reimbursement Obligations, on the basis of a year of 365 or 366 days, as applicable, and the actual number of days elapsed), at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% two percent (2%) plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% two percent (2%) plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% two percent (2%) plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect Base Rate from time to such Reimbursement Obligation;time in effect; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 3.4 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration or any other Event of Default pursuant to Section 9.1(a) hereof, any adjustments pursuant to this Section 1.5 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, Banks with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required LendersBanks.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Domestic Rate Loan Portion or the Swingline any Swing Loan bearing interest based on the Base Domestic Rate, the sum of 2.0% plus the Applicable Margin plus the Base Domestic Rate from time to time in effect;
(b) for any Eurodollar Loan LIBOR Portion or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Harris' Quoted Rate, the sum of 2.0% plus the rate of interest in effect ef▇▇▇▇ thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Domestic Rate Loans Portions plus the Base Domestic Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 3.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while While any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, L/C Participation Fees and letter of credit fees other amounts owing by it at a rate per annum equal to:
(ai) for any Base Rate Loan or the Swingline and any Swing Loan bearing interest based on at the Base Rate, the sum of 2.02.00% per annum plus the Applicable Margin plus the Base Rate from time to time in effect;; and
(bii) for any Eurodollar Loan or the Swingline and any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.02.00% per annum plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.02.00% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(ciii) for any Reimbursement Obligation, the sum of 2.02.00% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(div) for any Letter of Credit, the sum of 2.02.00% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2.13(b) with respect to such Letter of Credit; and
(ev) for any other amount owing hereunder not covered by clauses (ai) through (div) above, the sum of 2.02.00% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments increase in interest rates pursuant to this Section and any conversion of Loans into Base Rate Loans shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, accrued interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar SOFR Loan or the Swingline Loan bearing interest at the Administrative AgentSwingline Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Whitestone REIT)
Default Rate. Notwithstanding anything to the contrary contained hereinin Section 1.3 hereof, while any Event of Default exists or after acceleration, the Borrower shall Borrowers shall, jointly and severally, pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, Obligations and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan Swing Loans bearing interest based on at the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Eurocurrency Loan or the Swingline Loan Swing Loans bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the withthe consent of the Required Lenders, with written notice to the BorrowerBorrowers. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Rc2 Corp)
Default Rate. Notwithstanding anything to During the contrary contained herein, while any existence of an Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement ObligationsObligations shall bear interest, and letter the L/C Fee relating to each outstanding L/C shall be payable, from the date of credit fees such Event of Default until paid in full at a rate per annum (computed on the basis of a year of 360 days and actual days elapsed) equal to:
(ai) for any Base Domestic Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Domestic Rate, the sum of 2.0% plus the Applicable Margin plus the Base Domestic Rate from time to time in effect;
(bii) for any Eurodollar Loan, any Bid Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s a Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Domestic Rate Loans plus the Base Domestic Rate from time to time in effect;
(ciii) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect Applicable Margin plus the Domestic Rate from time to such Reimbursement Obligation;time in effect; and
(div) for any Letter of CreditL/C, the sum of 2.0% plus the letter of credit fee L/C Fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effectL/C; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required LendersBanks, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required LendersBanks.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Lecg Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while While any Specified Event of Default exists or after accelerationacceleration of the Obligations, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by lawLaw) on the principal amount of all Loans and Reimbursement Obligations, L/C Participation Fees and letter of credit fees other amounts owing by it at a rate per annum equal to:
(ai) for any Base Rate Loan or the Swingline and any Swing Loan bearing interest based on at the Base Rate, the sum of 2.02.00% per annum plus the Applicable Margin plus the Base Rate from time to time in effect;
(bii) for any Eurodollar Loan or the Swingline and any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.02.00% per annum plus the rate of interest in effect thereon at the time of such default Specified Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.02.00% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(ciii) for any Reimbursement Obligation, the sum of 2.02.00% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(div) for any Letter of Credit, the sum of 2.02.00% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2.12(b) with respect to such Letter of Credit; and
(ev) for any other amount owing hereunder not covered by clauses (ai) through (div) above, the sum of 2.02.00% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments increase in interest rates pursuant to this Section 2.4 and any conversion of Loans into Base Rate Loans shall be made at the election of the Administrative Agent, acting solely at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, accrued interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Section 1.9.Default Rate" \l 2 . Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, if so directed by the Required Lenders, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto plus the Applicable Margin and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section 1.9 shall be made at the election of by the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on the demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Alpine Income Property Trust, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the any Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar SOFR Loan or the any Swingline Loan bearing interest at the Administrative AgentSwingline Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the any Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar SOFR Loan or the any Swingline Loan bearing interest at the Administrative AgentSwingline Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter Letter of credit fee Credit Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Plexus Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateEurodollarSOFR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 3.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin for Revolving Credit Base Rate Loans plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after accelerationacceleration of the Obligations pursuant to Sections 9.2 or 9.3, the Borrower Borrowers shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(b) for any Eurodollar Eurocurrency Loan denominated in U.S. Dollars or the Swingline any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Eurocurrency Loan denominated in an Alternative Currency, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of (i) the Applicable Margin for Eurocurrency Loans plus (ii) two percent (2%) plus (iii) the Overnight Rate with respect to such unpaid amount; and
(d) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount fees due owing and hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration of the Obligations pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section 1.10 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower Representative. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders. For the avoidance of doubt, to the extent and for so long as the Borrowers are required to pay interest on the principal amount of all Loans and Reimbursement Obligations pursuant to this Section 1.10, no interest shall be due and payable pursuant to Section 1.4.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after accelerationexists, the each Borrower shall pay pay, after written notice from the Administrative Agent sent at the direction of the Required Lenders (provided no such notice or Required Lender direction to send such notice shall be required in the case of an Event of Default under Section 9.1(j) or (k) or a Principal Payment Default (as defined below)), interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans Loans, Reimbursement Obligations and Reimbursement Obligationsother amounts owed by such Borrower under the Loan Documents, and letter from the date of credit fees such written notice (or, in the case of an Event of Default under Section 9.1(j) or (k) or a Principal Payment Default, the date of such Event of Default) at a rate per annum equal to:to (the “Default Rate”):
(a) for any U.S. Base Rate Loan or the Swingline any Swing Loan bearing interest based on the U.S. Base Rate, the sum of 2.0% plus the Applicable Margin plus the U.S. Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLIBOR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for U.S. Base Rate Loans plus the U.S. Base Rate from time to time in effect;
(c) for any EURIBOR Loan, (x) the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and (y) thereafter, the sum of 2.0% plus the Applicable Margin for EURIBOR Loans plus EURIBOR for the applicable Interest Period;
(d) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(de) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(ef) for any other amount owing hereunder not covered by clauses (a) through (d) aboveCAD CDOR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for U.S. Base Rate Loans plus the U.S. Base Rate (with such amount to be converted to and calculated on the U.S. Dollar Equivalent amount of such Loan and paid in U.S. Dollars) from time to time in effect; provided, however, that in the absence . If any principal amount of acceleration, any adjustments pursuant to this Section Loan or Reimbursement Obligation is not paid when due (a “Principal Payment Default”) such principal amount shall be made bear interest at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrowerrates specified in subsections (a) through (f) above until paid in full. While any Event of Default exists or after accelerationexists, interest as adjusted under this Section 1.10 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to Upon the contrary contained herein, while any occurrence and during the continuation of an Event of Default exists (and at the election of Agent or after acceleration, the Borrower shall pay interest Required Lenders),
(after as well as before entry i) all Obligations (except for undrawn Letters of judgment thereon Credit and except for Bank Product Obligations) that have been charged to the extent permitted by law) Loan Account pursuant to the terms hereof shall bear interest on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees Daily Balance thereof at a rate per annum rate equal to:
(a) for any Base Rate Loan or to 2 percentage points above the Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligationrate otherwise applicable hereunder, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(eii) the Letter of Credit fee provided for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section above shall be made increased to 2 percentage points above the per annum rate otherwise applicable hereunder. Notwithstanding the foregoing, upon the occurrence and during the continuation of an Event of Default, at the election of the Administrative Agent, acting at the request or with Required Term Loan B Lenders (and without the consent of any other Person), the principal of the Term Loan B and all other Obligations due and payable attributable to Term Loan B whether or not charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable to such Obligations hereunder. Notwithstanding the foregoing, upon the occurrence and during the continuation of an Event of Default, at the election of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with Revolver Lenders (and without the consent of any other Person), the Required Lendersprincipal of the Term Loan A and all other Obligations (except for undrawn Letters of Credit and except for Bank Product Obligations) due and payable (other than those attributable to Term Loan B) whether or not charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable to such Obligations hereunder.
Appears in 1 contract
Sources: Credit Agreement (Buca Inc /Mn)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the any Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the any Swingline Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained hereinin Section 1.3 hereof, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees then owing by it at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.2(c) with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under the second sentence of Section 2.1 2.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (CTS Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateSOFR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 3.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin for Revolving Credit Base Rate Loans plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists under Section 9.1(a)(i), 9.1(b) (with respect to an Event of Default arising under Section 8.24), 9.1(j) or 9.1(k) or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateSOFR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, the application of this Section to any outstanding obligations and any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Envestnet, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, if so directed by the Required Lenders, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans of each Class and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.03.0% plus the Applicable Margin for the applicable Class plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateDaily Simple SOFR Loan, the sum of 2.03.0% plus the Applicable Margin for the applicable Class plus the Adjusted Daily Simple SOFR from time to time in effect;
(c) for any Term SOFR Loan, the sum of 3.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto plus the Applicable Margin for the applicable Class and, thereafter, at a rate per annum equal to the sum of 2.03.0% plus the Applicable Margin for Base Rate Loans of the applicable Class plus the Base Rate from time to time in effect;
(cd) for any Reimbursement Obligation, the sum of 2.03.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(de) for any Letter of Credit, the sum of 2.03.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section 1.9 shall be made at the election of by the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on the demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Alpine Income Property Trust, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after accelerationacceleration of the Obligations, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the any Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the any Swingline Loan bearing interest at the Administrative AgentSwingline Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration of the Obligations pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after accelerationacceleration of the Obligations, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists under Section 9.1(a)(i), 9.1(b) (with respect to an Event of Default arising under Section 8.23), 9.1(j) or 9.1(k) or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Envestnet, Inc.)
Default Rate. Section 1.9. Default Rate" \l 2 . Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, if so directed by the Required Lenders, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto plus the Applicable Margin and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section 1.9 shall be made at the election of by the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on the demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Alpine Income Property Trust, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 3.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin for Revolving Credit Base Rate Loans plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained hereinin Section 1.3 hereof, while any Event of Default exists or after acceleration, the Borrower shall Borrowers shall, jointly and severally, pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees owing by them at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted Rateany Swing Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;; and
(c) for any Reimbursement Obligationthe Fixed Rate Loan, the sum of 2.02% plus the amounts due under Section 1.3 with respect rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, a rate per annum equal to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% the Fixed Rate plus an amount such that the letter of credit fee due under Section 2.1 with respect rate per annum is equivalent to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect; provided, however, that (i) in the event the Fixed Rate Loan, or portion thereof, is not paid when due, the overdue amount thereof shall bear interest at the rate per annum equal to the rate per annum applicable to Base Rate Loans hereunder after default and (ii) in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrowers. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;; and
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.1(bc) with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Intl Fcstone Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while While any Event of Default exists or after acceleration, the Borrower Borrowers shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, L/C Participation Fees and letter of credit fees other amounts owing by it at a rate per annum equal to:
(ai) for any Base Rate Loan or the Swingline and any Swing Loan bearing interest based on at the Base Rate, the sum of 2.02.00% per annum plus the Applicable Margin plus the Base Rate from time to time in effect;
(bii) for any Eurodollar Loan or the Swingline and any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.02.00% per annum plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.02.00% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(ciii) for any Reimbursement Obligation, the sum of 2.02.00% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(div) for any Letter of Credit, the sum of 2.02.00% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2.13(b) with respect to such Letter of Credit; and
(ev) for any other amount owing hereunder not covered by clauses (ai) through (div) above, the sum of 2.02.00% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments increase in interest rates pursuant to this Section and any conversion of Loans into Base Rate Loans shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrowers (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, accrued interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: First Lien Credit Agreement (Turning Point Brands, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after accelerationexists, the each Borrower shall pay pay, after written notice from the Administrative Agent sent at the direction of the Required Lenders (provided no such notice or Required Lender direction to send such notice shall be required in the case of an Event of Default under Section 9.1(j) or (k) or a Principal Payment Default (as defined below)), interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans Loans, Reimbursement Obligations and Reimbursement Obligationsother amounts owed by such Borrower under the Loan Documents, and letter from the date of credit fees such written notice (or, in the case of an Event of Default under Section 9.1(j) or (k) or a Principal Payment Default, the date of such Event of Default) at a rate per annum equal to:to (the “Default Rate”):
(a) for any U.S. Base Rate Loan or the Swingline any Swing Loan bearing interest based on the U.S. Base Rate, the sum of 2.0% plus the Applicable Margin plus the U.S. Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLIBORTerm SOFR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for U.S. Base Rate Loans plus the U.S. Base Rate from time to time in effect;
(c) for any EURIBOR Loan, (x) the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and (y) thereafter, the sum of 2.0% plus the Applicable Margin for EURIBOR Loans plus EURIBOR for the applicable Interest Period;
(d) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(de) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(ef) for any other amount owing hereunder not covered by clauses (a) through (d) aboveCAD CDOR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a 22 rate per annum equal to the sum of 2.0% plus the Applicable Margin for U.S. Base Rate Loans plus the U.S. Base Rate (with such amount to be converted to and calculated on the U.S. Dollar Equivalent amount of such Loan and paid in U.S. Dollars) from time to time in effect; provided, however, that in the absence . If any principal amount of acceleration, any adjustments pursuant to this Section Loan or Reimbursement Obligation is not paid when due (a “Principal Payment Default”) such principal amount shall be made bear interest at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrowerrates specified in subsections (a) through (f) above until paid in full. While any Event of Default exists or after accelerationexists, interest as adjusted under this Section 1.10 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (J M SMUCKER Co)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, (x) the Borrower Borrowers shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement ObligationsObligations at a rate per annum equal to, and letter (y) with respect to any outstanding Letter of credit Credit, the Borrowers shall pay Letter of Credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of two percent (2.0% %) plus the Applicable Margin plus the Base Rate from time to time in effectrate otherwise applicable thereto under Section 1 or 2 hereof, respectively;
(b) for any Eurodollar Loan or the Swingline Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of two percent (2.0% %) plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% two percent (2%) plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any SOFR Loan, Eurocurrency Loan, or RFR Loan, the sum of two percent (2.0%) plus the rate otherwise applicable thereto under Section 1 hereof; and
(d) for any Reimbursement Obligation, the sum of two percent (2.0% %) plus the amounts due rate otherwise applicable thereto under Section 1.3 with respect to such Reimbursement Obligation;1.2; and
(de) for any Letter of Credit, the sum of two percent (2.0% %) plus the letter of credit fee due under Section 2.1 4.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall Company (which notice may be paid on demand revoked at the direction of the Administrative Agent at Required Lenders notwithstanding any provision of Section 14.12 requiring the request or with the unanimous consent of the Required LendersLenders to reduce interest rates). Interest accrued pursuant to this Section 3.2 shall be payable on demand.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(ai) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(bj) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateSOFR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(ck) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.1(c) with respect to such Reimbursement Obligation;
(dl) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2.1(b) with respect to such Letter of Credit; and
(em) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section 1.7 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (StoneX Group Inc.)
Default Rate. Notwithstanding anything to the contrary contained hereinherein (and in lieu thereof), while any Event of Default exists pursuant to Section 9.1(a) (with respect to any principal, interest or fees) has occurred and is continuing or after accelerationacceleration of the Obligations, the Borrower shall pay interest (after as well as before entry of judgment thereon and in any event to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligationssuch overdue principal, and letter of credit interest or fees at a rate per annum (the “Default Rate”) equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Alternate Base Rate, the sum of 2.0% plus the Applicable Margin plus the Alternate Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default (x) until the end of the applicable Interest Period applicable thereto andin effect immediately prior to such Event of Default, the Eurodollar Rate in effect thereon plus the Applicable Margin and (y) thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Alternate Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect Applicable Margin for Revolving Loans plus the Alternate Base Rate from time to such Reimbursement Obligation;time in effect; and
(d) for any Letter of CreditCredit fee, the sum of 2.0% plus the letter Letter of credit Credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any such Event of Default exists has occurred and is continuing or after accelerationacceleration of the Obligations, accrued and unpaid interest having accrued at the Default Rate shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Dave & Buster's Entertainment, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Payment Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the any Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar SOFR Loan or the any Swingline Loan bearing interest at the Administrative AgentSwingline Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Payment Default or acceleration until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.2 with respect to such Reimbursement Obligation;
(d) for the undrawn amount of any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Payment Default). While any Event of Payment Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Hub Group, Inc.)
Default Rate. Notwithstanding anything to the contrary contained hereinin Section 1.2 hereof, at the direction of the Required Banks while any Event of Default exists or (unless and until rescinded by the Required Banks) after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Loans, Reimbursement Obligations, Obligations and letter of credit fees (computed on the basis of a year of 360 days and actual days elapsed or, if based on the Base Rate or with respect to Reimbursement Obligations, on the basis of a year of 365 or 366 days, as applicable, and the actual number of days elapsed), at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% three percent (3%) plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% three percent (3%) plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% three percent (3%) plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% three percent (3.0%) plus the amounts due under Section 1.3 with respect Base Rate from time to such Reimbursement Obligation;time in effect; and
(d) for any Letter of Credit, the sum of 2.0% three percent (3.0%) plus the letter of credit fee due under Section 2.1 3.4 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration or any other Event of Default pursuant to Section 9.1(a) hereof, any adjustments pursuant to this Section 1.5 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, Banks with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required LendersBanks.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained hereinin Section 1.3 hereof, while any Event of Default exists or after acceleration, the Borrower shall Borrowers shall, jointly and severally, pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, Obligations and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan Swing Loans bearing interest based on at the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Eurocurrency Loan or the Swingline Loan Swing Loans bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrowers. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Rc2 Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the any Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar SOFR Loan or the any Swingline Loan bearing interest at the Administrative AgentSwingline Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter Letter of credit fee Credit Fee due under Section 2.1 3.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration pursuant to Section 9.2 or 9.3, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained hereinin Section 1.2 hereof, at the direction of the Required Banks while any Event of Default exists or (unless and until rescinded by the Required Banks) after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Loans, Reimbursement Obligations, Obligations and letter of credit fees (computed on the basis of a year of 360 days and actual days elapsed or, if based on the Base Rate or with respect to Reimbursement Obligations, on the basis of a year of 365 or 366 days, as applicable, and the actual number of days elapsed), at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% two percent (2%) plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.0% two percent (2%) plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% two percent (2%) plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect Base Rate from time to such Reimbursement Obligation;time in effect; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 3.4 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration or any other Event of Default pursuant to Section 9.1(a) hereof, any adjustments pursuant to this Section 1.5 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, Banks with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required LendersBanks.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while While any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, L/C Participation Fees and letter of credit fees other amounts owing by it at a rate per annum equal to:
(ai) for any Base Prime Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.02.00% per annum plus the Applicable Margin plus the Base Prime Rate from time to time in effect;; and
(bii) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.02.00% per annum plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.02.00% plus the Applicable Margin for Base Prime Rate Loans plus the Base Prime Rate from time to time in effect;
(ciii) for any Reimbursement Obligation, the sum of 2.02.00% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(div) for any Letter of Credit, the sum of 2.02.00% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2.13(b) with respect to such Letter of Credit; and
(ev) for any other amount owing hereunder not covered by clauses (ai) through (div) above, the sum of 2.02.00% plus the Applicable Margin plus the Base Prime Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments increase in interest rates pursuant to this Section and any conversion of Loans into Prime Rate Loans shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, accrued interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;; and
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.1(b) with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2.1(b) with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Intl Fcstone Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists is continuing or after accelerationacceleration of the Obligations as a result of an Event of Default, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all outstanding Loans and Reimbursement Obligations, and letter of credit fees and other amounts of outstanding Obligations at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateDaily Simple SOFR Loan, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateEurodollarSOFR Loan, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 hereof with respect to interest on such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2(b) hereof with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationan acceleration of the Obligations as a result of an Event of Default, any adjustments pursuant to this Section 1.9 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest Interest accruing pursuant to this Section 1.9 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Centerspace)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and interest on any other amounts owing hereunder or under the other Loan Documents at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at Adjusted LIBOR or the Administrative AgentSwing Line Lender’s Quoted Rate, as applicable, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 2.12 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) aboveoverdue amounts, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after accelerationexists, the Borrower shall pay pay, after written notice from the Administrative Agent sent at the direction of the Required Lenders (provided no such notice or Required Lender direction to send such notice shall be required in the case of an Event of Default under Section 9.1(j) or (k) or a Principal Payment Default (as defined below)), interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligationsother amounts owed by it under the Loan Documents, and letter from the date of credit fees such written notice (or, in the case of an Event of Default under Section 9.1(j) or (k) or a Principal Payment Default, the date of such Event of Default) at a rate per annum equal to:to (the “Default Rate”): #92469623v14 8
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Base Rate Margin plus the Base Rate from time to time in effect;; and
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLIBOR Loan, (x) the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, and (y) thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 with respect to such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable LIBOR Margin plus Adjusted LIBOR for the Base Rate from time to time in effect; provided, however, that in the absence applicable Interest Period. If any principal amount of acceleration, any adjustments pursuant to this Section Loan is not paid when due (a “Principal Payment Default”) such principal amount shall be made bear interest at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrowerrates specified in subsections (a) and (b) above until paid in full. While any Event of Default exists or after accelerationexists, interest as adjusted under this Section 1.10 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (J M SMUCKER Co)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative Agent’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists is continuing or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all outstanding Loans and Reimbursement Obligations, and letter of credit fees and other amounts due under the Loan Documents at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base Rate, the sum of 2.03.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateLoan, the sum of 2.03.0% plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.03.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.03.0% plus the amounts due under Section 1.3 with respect to interest on such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.03.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.03.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationacceleration of the Obligations as a result of an Event of Default, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest accruing pursuant to this Section 1.9 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Sources: Credit Agreement (Monmouth Real Estate Investment Corp)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 1.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and interest on any other amounts owing hereunder or under the other Loan Documents at a rate per annum equal to:
: (a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
; (b) for any Eurodollar SOFR Loan or the Swingline any Swing Loan bearing interest at Adjusted Term SOFR or the Administrative AgentSwing Line Lender’s Quoted Rate, as applicable, the sum of 2.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
; (c) for any Reimbursement Obligation, the sum of 2.0% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
; (d) for any Letter of Credit, the sum of 2.0% plus the letter of credit fee due under Section 2.1 2.12 with respect to such Letter of Credit; and
and (e) for any other amount owing hereunder not covered by clauses (a) through (d) aboveoverdue amounts, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
Appears in 1 contract
Default Rate. Notwithstanding anything to the contrary contained herein, while While any Specified Event of Default exists or after accelerationacceleration of the Obligations, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by lawLaw) on the principal amount of all Loans and Reimbursement Obligations, L/C Participation Fees and letter of credit fees other amounts owing by it at a rate per annum equal to:
(ai) for any Base Rate Loan or the Swingline and any Swing Loan bearing interest based on at the Base Rate, the sum of 2.02.00% per annum plus the Applicable Margin plus the Base Rate from time to time in effect;
(bii) for any Eurodollar Tranche Rate Loan or the Swingline and any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.02.00% per annum plus the rate of interest in effect thereon at the time of such default Specified Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.02.00% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(ciii) for any Reimbursement Obligation, the sum of 2.02.00% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(div) for any Letter of Credit, the sum of 2.02.00% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2.12(b) with respect to such Letter of Credit; and
(ev) for any other amount owing hereunder not covered by clauses (ai) through (div) above, the sum of 2.02.00% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments increase in interest rates pursuant to this Section 2.4 and any conversion of Loans into Base Rate Loans shall be made at the election of the Administrative Agent, acting solely at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, accrued interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
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Default Rate. Notwithstanding anything to the contrary contained hereinin Section 1.4 hereof, while any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline any Swing Loan bearing interest based on the Base Rate, the sum of 2.02% plus the Applicable Margin plus the Base Rate from time to time in effecteffect (computed on the basis of a year of 365 or 366 days, as the case may be, for the actual number of days elapsed);
(b) for any Eurodollar Loan or the Swingline any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.02% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto (computed on the basis of a year of 360 days for the actual number of days elapsed) and, thereafter, at a rate per annum equal to the sum of 2.02% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effecteffect (computed on the basis of a year of 365 or 366 days, as the case may be, for the actual number of days elapsed);
(c) for any Reimbursement Obligation, the sum of 2.02% plus the amounts due under Section 1.3 1.2 with respect to such Reimbursement Obligation;; and
(d) for any Letter of Credit, the sum of 2.02% plus the letter of credit fee due under Section 2.1 with respect to such Letter of Credit; and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments pursuant to this Section shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest and fees shall continue to be due and payable as otherwise provided in this Agreement and, in addition, such interest and fees shall also be paid on demand of the Administrative Agent acting at the request or with the consent of the Required Lenders.
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Default Rate. Notwithstanding anything to the contrary contained herein, while While any Specified Event of Default exists or after accelerationacceleration of the Obligations, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by lawLaw) on the principal amount of all Loans and Reimbursement Obligations, L/C Participation Fees and letter of credit fees other amounts owing by it at a rate per annum equal to:
(ai) for any Base Rate Loan or the Swingline and any Swing Loan bearing interest based on at the Base Rate, the sum of 2.02.00% per annum plus the Applicable Margin plus the Base Rate from time to time in effect;
(bii) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateTerm SOFR Loan, the sum of 2.02.00% per annum plus the rate of interest in effect thereon at the time of such default Specified Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.02.00% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(ciii) for any Reimbursement Obligation, the sum of 2.02.00% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(div) for any Letter of Credit, the sum of 2.02.00% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2.12(b) with respect to such Letter of Credit; and
(ev) for any other amount owing hereunder not covered by clauses (ai) through (div) above, the sum of 2.02.00% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments increase in interest rates pursuant to this Section 2.4 and any conversion of Loans into Base Rate Loans shall be made at the election of the Administrative Agent, acting solely at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, accrued interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
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Default Rate. Notwithstanding anything to the contrary contained herein, while While any Event of Default exists or after acceleration, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, L/C Participation Fees and letter of credit fees other amounts owing by it at a rate per annum equal to:
(ai) for any Base Rate Loan or the Swingline and any Swing Loan bearing interest based on at the Base Rate, the sum of 2.02.00% per annum plus the Applicable Margin plus the Base Rate from time to time in effect;
(bii) for any Eurodollar Loan or the Swingline and any Swing Loan bearing interest at the Administrative AgentSwing Line Lender’s Quoted Rate, the sum of 2.02.00% per annum plus the rate of interest in effect thereon at the time of such default Event of Default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.02.00% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(ciii) for any Reimbursement Obligation, the sum of 2.02.00% plus the amounts due under Section 1.3 2.3 with respect to such Reimbursement Obligation;
(div) for any Letter of Credit, the sum of 2.02.00% plus the letter of credit fee L/C Participation Fee due under Section 2.1 2.13(b) with respect to such Letter of Credit; and
(ev) for any other amount owing hereunder not covered by clauses (ai) through (div) above, the sum of 2.02.00% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of acceleration, any adjustments increase in interest rates pursuant to this Section and any conversion of Loans into Base Rate Loans shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the BorrowerBorrower (which election may be retroactively effective to the date of such Event of Default). While any Event of Default exists or after acceleration, accrued interest shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
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Sources: First Lien Credit Agreement (Turning Point Brands, Inc.)
Default Rate. Notwithstanding anything to the contrary contained herein, while any Event of Default exists is continuing or after accelerationacceleration of the Obligations as a result of an Event of Default, the Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all Loans and Reimbursement Obligations, and letter of credit fees and other amounts at a rate per annum equal to:
(a) for any Base Rate Loan or the Swingline Loan bearing interest based on the Base RateLoan, the sum of 2.03.0% plus the Applicable Margin plus the Base Rate from time to time in effect;
(b) for any Eurodollar Loan or the Swingline Loan bearing interest at the Administrative Agent’s Quoted RateSOFR Loan, the sum of 2.03.0% plus the rate of interest in effect thereon at the time of such default until the end of the Interest Period applicable thereto and, thereafter, at a rate per annum equal to the sum of 2.03.0% plus the Applicable Margin for Base Rate Loans plus the Base Rate from time to time in effect;
(c) for any Reimbursement Obligation, the sum of 2.03.0% plus the amounts due under Section 1.3 with respect to interest on such Reimbursement Obligation;
(d) for any Letter of Credit, the sum of 2.03.0% plus the amounts due under this Agreement with respect to interest on such Letter of Credit (for the avoidance of doubt, this shall not affect the Borrower’s obligation to pay letter of credit fee due under Section 2.1 with respect to such Letter of Credit); and
(e) for any other amount owing hereunder not covered by clauses (a) through (d) above, the sum of 2.03.0% plus the Applicable Margin plus the Base Rate from time to time in effect; provided, however, that in the absence of accelerationan acceleration of the Obligations as a result of an Event of Default, any adjustments pursuant to this Section 1.9 shall be made at the election of the Administrative Agent, acting at the request or with the consent of the Required Lenders, with written notice to the Borrower. While any Event of Default exists or after acceleration, interest Interest accruing pursuant to this Section 1.9 shall be paid on demand of the Administrative Agent at the request or with the consent of the Required Lenders.
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