(e). In addition, upon the occurrence and during the continuation of an Event of Default hereunder, the Initial Loan Advance and all Subsequent Draws, including principal, interest, compounded interest, and professional fees thereupon, shall upon the election of the Agent or the Lenders bear interest at the Interest Rate, plus five (5) percentage points. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.1(e) or this Section 2.3, as applicable.
Appears in 8 contracts
Samples: Loan and Security Agreement (Eightco Holdings Inc.), Loan and Security Agreement (Eightco Holdings Inc.), Loan and Security Agreement (Eightco Holdings Inc.)
