Effect of Defaults, Etc. (i) During the existence of any Event of Default, the outstanding principal balance under the Notes and, to the extent permitted by applicable law, overdue interest, PIK Interest, fees, expenses or other amounts payable hereunder or under the other Loan Documents, shall bear interest, from and including the date such Event of Default occurred until such Event of Default is cured or waived in writing as provided herein, at a rate per annum (the “Default Rate”) (computed on the basis of the actual number of days elapsed over a 360-day year) equal to two percent (2.00%) above the interest rate(s) otherwise applicable hereunder; and the Letter of Credit fee provided for herein shall be increased by two percent (2.00%) above the per annum rate otherwise applicable hereunder.
(ii) If any installment of interest is not paid within ten (10) days of its due date, Borrowers shall, to the extent permitted by law, pay to Collateral Agent for the account of Lenders holding the delinquent interest obligations, a late and handling charge equal to five percent (5%) of the unpaid portion of such overdue installment.
(iii) Nothing in this Section 2.02(e) shall affect the rights of Administrative Agent, Collateral Agent or Lenders to exercise any rights or remedies under the Loan Documents or applicable law arising upon the occurrence and continuance of an Event of Default.
Effect of Defaults, Etc. (i) During the existence of any Event of Default, the outstanding principal under the Notes and, to the extent permitted by applicable law, overdue interest, fees or other amounts payable hereunder or under the other Loan Documents (including without limitation Reimbursement Obligations) shall bear interest, from and including the date such Event of Default occurred until such Event of Default is waived in writing as provided herein, at a rate per annum (computed on the basis of the actual number of days elapsed over a 360-day year) equal to two percent (2.00%) above (a) the interest rate or rates then applicable to Base Rate Loans and overdue interest, fees and other expenses, or (b) with respect to any LIBOR Loans then in effect (and only until the end of the Interest Period applicable to such LIBOR Loans) the interest rate or rates then applicable to such LIBOR Loans.
(ii) Nothing in this Section 1.03(e) shall affect the rights of the Agent or the Lenders to exercise any rights or remedies under the Loan Documents or applicable law arising upon the occurrence of an Event of Default.
Effect of Defaults, Etc. (i) During the existence and continuance of any Event of Default, the outstanding principal under the Notes and, to the extent permitted by applicable law, overdue interest, fees or other amounts payable hereunder or under the other Loan Documents shall bear interest, from and including the date such Event of Default occurred until such Event of Default is waived in writing as provided herein or cured, at a rate per annum equal to two percent (2.00%) above (a) the interest rate or rates then applicable to Prime Rate Loans and overdue interest, fees and other expenses (computed on the basis of the actual number of days elapsed over a 365-day period), or (b) with respect to any LIBOR Loans then in effect (and only until the end of the Interest Period applicable to such LIBOR Loans) the interest rate or rates then applicable to such LIBOR Loans (computed on the basis of the actual number of days elapsed over a 360-day period).
(ii) Nothing in this Section 1.03(f) shall affect the rights of the Agent or the Lenders to exercise any rights or remedies under the Loan Documents or applicable law arising upon the occurrence of an Event of Default.
Effect of Defaults, Etc. (i) During the existence of any Event of Default, the outstanding principal (which includes any capitalized interest with respect thereto) under the Notes and, to the extent permitted by applicable law, overdue interest, fees or other amounts payable hereunder or under the other Loan Documents shall bear interest, from and including the date such Event of Default occurred until such Event of Default is waived in writing as provided herein, at a rate per annum (computed on the basis of the actual number of days elapsed over a 365 or 366-day year as applicable) equal to 15% payable as follows:
(A) 48% of interest accrued from time to time pursuant to this Section 1.02(d) shall be payable in cash on each Quarterly Date; and
(B) 52% of interest accrued from time to time pursuant to this Section 1.02(d) shall be automatically added, without any action by any Person, on each Quarterly Date to the principal amount of each Loan (and any such interest so added to the principal of a Loan shall bear interest from and after such Quarterly Date as provided hereunder as if it had been part of the Original Principal of such Loan).
(ii) Nothing in this Section 1.02(d) shall affect the rights of the Agent or the Lenders to exercise any rights or remedies under the Loan Documents or applicable law arising upon the occurrence of an Event of Default.
Effect of Defaults, Etc. (i) During the existence of any Event of Default, the outstanding principal under the Notes and, to the extent permitted by applicable law, overdue interest, fees or other amounts payable hereunder or under the other Loan Documents shall bear interest, from and including the date such Event of Default occurred until such Event of Default is waived in writing as provided herein, at a rate per annum (computed on the basis of the actual number of days elapsed over a 360-day year) equal to two percent (2.00%) above (1) the interest rate or rates then applicable to Base Rate Loans and overdue interest, fees and other expenses or (2) with respect to any LIBOR Loans then in effect (and only until the end of the LIBOR Period applicable to such LIBOR Loans) the interest rate or rates then applicable to such LIBOR Loans.
(ii) Nothing in this Section 1.05(f) shall affect the rights of the Agent or the Lenders to exercise any rights or remedies under the Loan Documents or applicable law arising upon the occurrence of an Event of Default.
Effect of Defaults, Etc. (i) At all times during the existence of any Event of Default, the outstanding principal under the Notes and, to the extent permitted by applicable law, overdue interest, fees, expenses or other amounts payable hereunder or under the other Loan Documents shall bear interest at a rate per annum (the "Default Rate") ------------ equal to two (2.00%) above (a), with respect to Base Rate Loans and overdue interest, fees, expenses and other amounts payable hereunder, the highest interest rate then applicable to any Base Rate Loans and (b), with respect to any LIBOR Loans then in effect (and only until the end of the Interest Period applicable to such LIBOR Loans), the highest interest rate then applicable to any LIBOR Loans.
(ii) Nothing in this SECTION 1.02(E) shall affect the rights of the Agent or the Lenders to exercise any rights or remedies under the Loan Documents or applicable law arising upon the occurrence of an Event of Default.
Effect of Defaults, Etc. (i) During the existence of any Event of Default, the outstanding principal under the Notes and, to the extent permitted by applicable law, overdue interest, fees or other amounts payable hereunder or under the other Transaction Documents shall bear interest, from and including the date such Event of Default occurred until such Event of Default is waived, at a rate per annum (computed on the basis of the actual number of days elapsed over a 365-day year) equal to (a) 4.25% above the Base Rate, with respect to Base Rate Loans and overdue interest, fees and other expenses, or (b) 5.25% above the applicable LIBOR Rate, with respect to LIBOR Loans.
(ii) Nothing in this SECTION 1.03(D) shall affect the rights of the Agents or the Lenders to exercise any rights or remedies under the Transaction Documents or applicable law arising upon the occurrence of an Event of Default.
Effect of Defaults, Etc. (i) During the existence of any Event of Default, the outstanding principal under the Notes and, to the extent permitted by applicable law, overdue interest, fees or other amounts payable hereunder or under the other Loan Documents shall bear interest, from and including the date such event of Default occurred until such Event of Default is waived in writing as provided herein, at a rate per annum (computed on the basis of the actual number of days elapsed over a 360-day year) equal to two percent (2.00%) above (a) the highest interest rate or rates then applicable to Base Rate Loans and overdue interest, fees and other expenses, or (b) with respect to any LIBOR Loans then in effect (and only until the end of the Interest Period applicable to such LIBOR Loans) the highest interest rate or rates then applicable to such LIBOR Loans, as provided in the Table set forth in SECTION 1.03(B)(II).
(ii) Nothing in this SECTION 1.03(E) shall affect the rights of the Agents or the Lenders to exercise any rights or remedies under the Loan Documents or applicable law arising upon the occurrence of an Event of Default.
Effect of Defaults, Etc. (i) Notwithstanding the foregoing, no downward adjustment of the Applicable Margin hereunder shall be permitted (A) unless the financial statements for the relevant fiscal period delivered to the Agent are accompanied (or followed before the applicable Interest Adjustment Date) by a written request by the Borrower for such adjustment or (B) during the existence of any Default.
(ii) During the existence of any Event of Default, the outstanding principal under the Notes and, to the extent permitted by applicable law, overdue interest, fees or other amounts payable hereunder or under the other Loan Documents shall bear interest, from and including the date such Event of Default occurred until such Event of Default is waived in writing as provided herein, at a rate per annum (computed on the basis of the actual number of days elapsed over a 360-day year) equal to two percent (2.00%) above (a) the interest rate or rates then applicable to Prime Rate Loans and overdue interest, fees and other expenses, or (b) with respect to any LIBOR Loans then in effect (and only until the end of the Interest Period applicable to such LIBOR Loans) the interest rate or rates then applicable to such LIBOR Loans.
(iii) Nothing in this Section 1.03(e) shall affect the rights of the Agent or the Lenders to exercise any rights or remedies under the Loan Documents or applicable law arising upon the occurrence of an Event of Default.
Effect of Defaults, Etc. (i) Notwithstanding the provisions of Section 1.2(a), if and whenever any Event of Default occurs, the outstanding principal under the Notes and, to the extent permitted by applicable law, overdue interest, fees or other amounts payable hereunder or under the other Loan Documents shall bear interest, from and including the date such Event of Default occurred until such Event of Default is waived in writing as provided herein or is cured to the reasonable satisfaction of the Required Lenders, at a rate per annum (computed on the basis of the actual number of days elapsed over a 360-day year) equal to two percent (2.00%) per annum above the interest rate or rates that would otherwise then be applicable to the Loans and such interest rate shall increase by an additional one percent (1.00%) per annum on each 90-day anniversary of the date on which such Event of Default occurred, for as long as such Event of Default is continuing, and all such interest shall be payable on demand.
(ii) Nothing in this Section 1.2(d) shall affect the rights of the Agent or the Lenders to exercise any rights or remedies under the Loan Documents or applicable law arising upon the occurrence of an Event of Default.
