Common use of Domestic Rate Portion Clause in Contracts

Domestic Rate Portion. Each Domestic Rate Portion applicable to the Note shall bear interest (which the Company promises to pay at the times herein provided) at the rate per annum equal to the Domestic Rate as in effect from time to time, provided that if any Domestic Rate Portion or any part thereof is not paid when due (whether by lapse of time, acceleration or otherwise) such Portion shall bear interest (which the Company promises to pay at the times herein provided), whether before or after judgment, until payment in full thereof at the rate per annum determined by adding the Default Rate to the interest rate which would otherwise be applicable thereto from time to time. Interest on each Domestic Rate Portion shall be payable monthly on the last day of each month (commencing September 30, 1995) and at maturity of the Note (whether by lapse of time, acceleration or otherwise). Interest after maturity shall be due and payable upon demand. Any change in the interest rate on any Domestic Rate Portion resulting from a change in the Domestic Rate shall be effective as of the date of the relevant change in the Domestic Rate.

Appears in 1 contract

Samples: Credit Agreement (Wells Gardner Electronics Corp)

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Domestic Rate Portion. Each Domestic Rate Portion applicable to the Note shall bear interest (which the Company Borrower hereby promises to pay at the times herein provided) at the rate per annum equal determined by adding the Applicable Margin to the Domestic Rate as in effect from time to time, provided PROVIDED that if any a Domestic Rate Portion or any part thereof is not paid when due (whether by lapse of time, acceleration or otherwise) such Portion shall bear interest (which the Company Borrower hereby promises to pay at the times herein provided), whether before or as well as after judgment, until payment in full thereof at the rate per annum determined by adding the Default Rate 2% to the interest rate which would otherwise be applicable thereto from time to time. Interest on each the Domestic Rate Portion shall be payable monthly on the last day of each month (commencing September 30, 1995) in each year and at maturity of the Note (whether by lapse of timeapplicable Notes, acceleration or otherwise). Interest and interest after maturity shall be due and payable upon demand. Any change in the interest rate on any the Domestic Rate Portion Portions resulting from a change in the Domestic Rate shall be effective as of on the date of the relevant change in the Domestic Rate.

Appears in 1 contract

Samples: Credit Agreement (Morton Industrial Group Inc)

Domestic Rate Portion. Each Domestic Rate Portion applicable to the Note shall bear interest (which the Company Borrower hereby promises to pay at the times herein provided) at the rate per annum equal determined by adding the Applicable Margin to the Domestic Rate as in effect from time to time, provided that if any a Domestic Rate Portion or any part thereof is not paid when due (whether by lapse of time, acceleration or otherwise) such Portion shall bear interest (which the Company Borrower hereby promises to pay at the times herein provided), whether before or as well as after judgment, until payment in full thereof at the rate per annum determined by adding the Default Rate 2% to the interest rate which would otherwise be applicable thereto from time to time. Interest on each the Domestic Rate Portion shall be payable monthly on the last day of each month in each year (commencing September June 30, 19951998) and at maturity of the Note (whether by lapse of timeapplicable Notes, acceleration or otherwise). Interest and interest after maturity shall be due and payable upon demand. Any change in the interest rate on any the Domestic Rate Portion Portions resulting from a change in the Domestic Rate shall be effective as of on the date of the relevant change in the Domestic Rate.

Appears in 1 contract

Samples: Credit Agreement (Morton Industrial Group Inc)

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Domestic Rate Portion. Each Domestic Rate Portion applicable to the Note shall bear interest (which the Company hereby promises to pay at the times herein provided) at the rate per annum equal determined by adding the Applicable Margin to the Domestic Rate as in effect from time to time, provided that if any a Domestic Rate Portion or any part thereof is not paid when due (whether by lapse of time, acceleration or otherwise) such Portion shall bear interest (which the Company hereby promises to pay at the times herein provided), whether before or as well as after judgment, until payment in full thereof at the rate per annum determined by adding the Default Rate 2% to the interest rate which would otherwise be applicable thereto from time to time. Interest on each the Domestic Rate Portion Portions shall be payable monthly on the last day of each month in each year (commencing September November 30, 19951996) and at maturity of the Note (whether by lapse of timeNotes, acceleration or otherwise). Interest and interest after maturity shall be due and payable upon demand. Any change in the interest rate on any the Domestic Rate Portion Portions resulting from a change in the Domestic Rate shall be effective as of on the date of the relevant change in the Domestic Rate.

Appears in 1 contract

Samples: Credit Agreement (Hk Systems Inc)

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