Common use of Increase in Interest Rates Clause in Contracts

Increase in Interest Rates. If the Borrower is prevented by operation of Law from paying or causing to be paid any amount required to be paid by Section 16.2, the Borrower covenants and agrees to pay as additional interest payable under this Agreement an amount equal to such required amount, on the applicable Interest Payment Date if such amount is in respect of interest or, if otherwise, on the next succeeding Interest Payment Date, it being expressly understood and agreed that any such additional interest payment shall be paid on an after-tax-basis as contemplated in Section 16.2 and shall be subject to the provisions of Sections 16.1 and 16.