Default Rates. Upon the occurrence and during the continuation of a Default or an Event of Default, the Borrower shall pay interest on all Obligations at a rate per annum equal to two percent (2%) above the otherwise applicable interest rate or, if no such rate is applicable, at a rate per annum equal to the Alternate Base Rate from time to time in effect plus the Applicable Margin then in effect plus a margin of 2%.
Appears in 4 contracts
Samples: Senior Secured Credit Agreement (Titan Corp), Senior Secured Credit Agreement (Titan Corp), Senior Secured Credit Agreement (Titan Corp)
