Interest on Overdue Amounts. If any Borrower shall default in the payment of the principal of or interest on any Loan or any other amount due hereunder, by acceleration or otherwise, such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount up to (but not including) the date of actual payment (after as well as before judgment) at a rate per annum (computed on the basis of the actual number of days elapsed over a period of 360 days) equal to the lesser of (a) the Highest Lawful Rate and (b) the Alternate Base Rate plus two percent (2%) per annum.
Appears in 6 contracts
Samples: Revolving Credit Agreement (Group 1 Automotive Inc), Revolving Credit Agreement (Group 1 Automotive Inc), Revolving Credit Agreement (Group 1 Automotive Inc)
Interest on Overdue Amounts. If any Borrower shall default in the payment of the principal of or interest on any Loan or any other amount due hereunder, by acceleration or otherwise, such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount up to (but not including) the date of actual payment (after as well as before judgment) at a rate per annum (computed on the basis of the actual number of days elapsed over a period of 360 365/366 days) equal to the lesser of (a) the Highest Lawful Rate and (b) (i) the Alternate Base Rate plus two percent (2%) per annumannum in the case of any Loans denominated in Dollars, and (ii) the then applicable rate plus 3% per annum in the case of any Loans denominated in Euros or Pounds Sterling.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Group 1 Automotive Inc), Revolving Credit Agreement (Group 1 Automotive Inc), Revolving Credit Agreement (Group 1 Automotive Inc)
Interest on Overdue Amounts. If any Borrower shall default in the payment of the principal of or interest on any Loan or any other amount due hereunder, by acceleration or otherwise, such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount up to (but not including) the date of actual payment (after as well as before judgment) at a rate per annum (computed on the basis of the actual number of days elapsed over a period of 360 365/366 days) equal to the lesser of (a) the Highest Lawful Rate and (b) (i) the Alternate Base Rate then applicable rate plus two percent (2%) per annumannum in the case of any Loans denominated in Dollars, and (ii) the then applicable rate plus three percent (3%) per annum in the case of any Loans denominated in Euros or Pounds Sterling.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Group 1 Automotive Inc), Revolving Credit Agreement (Group 1 Automotive Inc), Revolving Credit Agreement (Group 1 Automotive Inc)
Interest on Overdue Amounts. If any Borrower shall default in the payment of the principal of or interest on any Loan or any other amount due hereunder, by acceleration or otherwise, such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount up to (but not including) the date of actual payment (after as well as before judgment) at a rate per annum (computed on the basis of the actual number of days elapsed over a period of 360 365/366 days) equal to the lesser of (a) the Highest Lawful Rate and (b) (i) the Alternate Base Rate plus two percent (2%) per annumannum in the case of any Loans denominated in Dollars, and (ii) the then applicable rate plus three percent (3%) per annum in the case of any Loans denominated in Euros or Pounds Sterling.
Appears in 1 contract
Samples: Revolving Credit Agreement (Group 1 Automotive Inc)
Interest on Overdue Amounts. If any the Borrower shall default defaults in the payment of the principal of or interest on any Loan or any other amount due hereunder, by acceleration or otherwisethe Borrower shall, such Borrower shall on demand from time to time time, pay interest, interest to the extent permitted by law, law on such defaulted amount up to (but not including) the date of actual payment (after as well as before judgment) at a rate per annum (computed calculated on the basis of the actual number of days elapsed over a period year of 360 365 or 366 days, as the case may be) equal to the lesser of (a) the Highest Lawful Rate and (b) the Alternate Base Rate plus two percent (2%) per annum.
Appears in 1 contract
Interest on Overdue Amounts. If any Borrower shall default in the payment of the principal of or interest on any Loan or any other amount due hereunder, by acceleration or otherwise, such Borrower shall on demand from time to time pay interest, to the extent permitted by law, on such defaulted amount up to (but not including) the date of actual payment (after as well as before judgment) at a rate per annum (computed on the basis of the actual number of days elapsed over a period of 360 365/366 days) equal to the lesser of (a) the Highest Lawful Rate and (b) the Alternate Base Rate plus two percent (2%) per annum.
Appears in 1 contract
Samples: Revolving Credit Agreement (Group 1 Automotive Inc)