Interest After Event of Default. Interest on the Loans and other amounts charged to the Loan Account, as of the date an Event of Default occurs, and at all times thereafter until the earlier of the date upon which (a) all Obligations have been paid and satisfied in full in cash or (b) such Event of Default shall have been cured or waived, shall be payable on demand at a rate equal to the greater of (a) the Interest Rate, or (b) the Minimum Rate, in each case, plus two percent (2%) per annum (the "Default Rate"). Interest shall be payable on any other amount due hereunder and shall accrue at the Default Rate from the date due and payable until paid in full. The rates hereunder shall be calculated based on a 360-day year for the actual number of days elapsed.
Appears in 2 contracts
Samples: Credit Agreement (Chiquita Brands International Inc), Credit Agreement (Chiquita Brands International Inc)
Interest After Event of Default. Interest on any amount of matured principal under the Loans, and interest on the amount of principal under the Loans and other amounts charged to the Loan Account, outstanding as of the date an Event of Default occurs, and at all times thereafter until the earlier of the date upon which (a) all Obligations have been paid and satisfied in full in cash or (b) such Event of Default shall have been cured or waived, shall be payable on demand at a rate equal to the greater of (a) the Interest Base Rate, or (b) plus the Minimum Rate, in each casehighest Applicable Percentage, plus two percent (2%) per annum (the "Default Rate"). Interest shall be payable on any other amount due hereunder and shall accrue at the Default Rate Rate, from the date due and payable until paid in full. The rates hereunder shall be calculated based on a 360-day year for the actual number of days elapsed.
Appears in 1 contract
Samples: Credit Agreement (Industrial Distribution Group Inc)
Interest After Event of Default. Interest on any amount of matured principal under the Loans, and interest on the amount of principal under the Revolving Loans and other amounts charged to the Loan Account, outstanding as of the date an Event of Default occurs, and at all times thereafter until the earlier of the date upon which (a) all Obligations have been paid and satisfied in full in cash or (b) such Event of Default shall have been cured or waived, shall be payable on demand at a rate equal to the greater of (a) the Interest Base Rate, or (b) plus the Minimum Ratehighest Applicable Percentage, in each case, ---- plus two percent (2%) per annum (the "Default Rate"). Interest shall be payable on any ---- other amount due hereunder and shall accrue at the Default Rate from the date due and payable until paid in full. The rates hereunder shall be calculated based on a 360-day year for the actual number of days elapsed.
Appears in 1 contract
Samples: Credit Agreement (Chiquita Brands International Inc)
Interest After Event of Default. Interest on any amount of matured principal under the Loans, and interest on the amount of principal under the Loans and other amounts charged to the Loan Account, outstanding as of the date an Event of Default occurs, and at all times thereafter until the earlier of the date upon which (a) all Obligations have been paid and satisfied in full in cash or (b) such Event of Default shall have been cured or waived, shall be payable on demand at a rate equal to the greater of (a) the Interest Adjusted Base Rate, or (b) plus the Minimum Rate, in each casehighest Applicable Margin, plus two percent (2%) per annum (the "Default Rate"). Interest shall be payable on any other amount due hereunder and shall accrue at the Default Rate Rate, from the date due and payable until paid in full. The rates hereunder shall be calculated based on a 360-day year for the actual number of days elapsed.
Appears in 1 contract
Samples: Credit Agreement (Industrial Distribution Group Inc)
Interest After Event of Default. Interest on any amount of matured principal under the Loans, and interest on the amount of principal under the Revolving Loans and other amounts charged to the Loan Account, outstanding as of the date an Event of Default occurs, and at all times thereafter until the earlier of the date upon which (a) all Obligations have been paid and satisfied in full in cash or (b) such Event of Default shall have been cured or waived, shall be payable on demand at a rate equal to the greater of (a) the Interest Base Rate, or (b) PLUS the Minimum Ratehighest Applicable Percentage, in each case, plus PLUS two percent (2%) per annum (the "Default Rate"). Interest shall be payable on any other amount due hereunder and shall accrue at the Default Rate from the date due and payable until paid in full. The rates hereunder shall be calculated based on a 360-day year for the actual number of days elapsed.
Appears in 1 contract
Samples: Credit Agreement (Chiquita Brands International Inc)
Interest After Event of Default. Interest on any amount of matured principal under the Loans, and interest on the amount of principal under the Revolving Loans and other amounts charged to the Loan Account, outstanding as of the date an Event of Default occurs, and at all times thereafter until the earlier of the date upon which (a) all Obligations have been paid and satisfied in full in cash or (b) such Event of Default shall have been cured or waived, shall be payable on demand at a rate equal to the greater of (a) the Interest Base Rate, or (b) plus the Minimum Rate, in each casehighest Applicable Percentage, plus two percent (2%) per annum (the "Default Rate"). Interest shall be payable on any other amount due hereunder and shall accrue at the Default Rate from the date due and payable until paid in full. The rates hereunder shall be calculated based on a 360-day year for the actual number of days elapsed.
Appears in 1 contract
Samples: Credit Agreement (Chiquita Brands International Inc)