Common use of Interest on Overdue Payments; Default Interest Rate Clause in Contracts

Interest on Overdue Payments; Default Interest Rate. If any payment of principal or interest is not paid when due, or prior to the expiration of the applicable period of grace (if any) therefor, National City may charge and collect from Borrower, or may add to the unpaid balance of the Notes, a Late Charge. National City may charge interest on the Late Charge at the Default Interest Rate until such time as the required payment of principal and interest (together with the Late Charge) is paid hereunder. No failure by National City to charge or collect any Late Charge in respect of any delinquent payment shall be considered to be a waiver by National City of any rights they may have hereunder, including without limitation the right subsequently to impose a Late Charge for such delinquent payment or to take such other actions as may then be available to them hereunder or at law or in equity, including but not limited to the right to accelerate the Obligations pursuant to the terms of Section 6.2 hereof. If the Notes have been accelerated pursuant to Section 6.2 or if an Event of Default hereunder or under any other Loan Document shall have occurred and be continuing, the outstanding principal balance of the indebtedness advanced under this Agreement, together with all accrued interest thereon and any and all other Obligations, shall bear interest from the date on which such amount shall have first become due and payable to the date on which such amount shall be paid (whether before or after judgment) at the Default Interest Rate. Interest at the Default Interest Rate will continue to accrue and will (to the extent permitted by applicable law) be compounded daily until the Obligations in respect of such payment are discharged (whether before or after judgment).

Interest on Overdue Payments; Default Interest Rate. If any payment of principal or interest is not paid when due, due or prior to the expiration of the applicable period of grace (if any) therefor, National City Lender may charge and collect from Borrower, or may add to a late charge as set forth in the unpaid balance Line of the Notes, a Late Charge. National City may charge interest on the Late Charge at the Default Interest Rate until such time as the required payment of principal and interest (together with the Late Charge) is paid hereunderCredit Note. No failure by National City Lender to charge or collect any Late Charge late charge in respect of any delinquent payment shall be considered to be a waiver by National City of any rights they that Lender may have hereunderunder this Agreement, including without limitation the right subsequently to impose a Late Charge late charge for such delinquent payment or to take such other actions action as may then be available to them it hereunder or at law or in equity, including but not limited to the right to accelerate the Obligations pursuant to the terms of Section 6.2 hereof. If the Notes have any Note has been accelerated pursuant to Section 6.2 or if an Event of Default hereunder or under any other Loan Document shall have occurred and be continuing, the outstanding principal balance of the indebtedness advanced under this AgreementLine of Credit Note, together with all accrued interest thereon and any and all other ObligationsObligations not evidenced by a Note, shall bear interest from the date on which such amount shall have first become due and payable to the date on which such amount shall be paid (whether before or after judgment) at the Default Interest Ratedefault interest rate set forth in the Line of Credit Note. Interest at the Default Interest Rate default interest rate will continue to accrue and will (to the extent permitted by applicable law) be compounded daily until the Obligations in respect of such payment are discharged (whether before or after judgment).

Interest on Overdue Payments; Default Interest Rate. If any payment of principal or interest interest, or any other sum payable to the Bank by Borrower pursuant to this Agreement, the Note or any Swap Document, is not paid when due, or prior to the expiration of the applicable period of grace (if any) therefor, National City the Bank may charge and collect from Borrower, or may add to the unpaid balance of the Notes, Borrower a Late Charge. National City The Bank may charge interest on the Late Charge at the Default Interest Rate until such time as the required payment of principal and interest (together with the Late Charge) is paid hereunder. No failure by National City the Bank to charge or collect any Late Charge in respect of any delinquent payment shall be considered to be constitute a waiver by National City the Bank of any rights they it may have hereunder, including without limitation the right subsequently to impose a Late Charge for such delinquent payment or to take such other actions as may then be available to them hereunder or it hereunder, under any other Loan Document, at law or in equity, including but not limited to the right to accelerate the Obligations pursuant to the terms of Section 6.2 hereof. If the Notes have been accelerated Bank shall accelerate the indebtedness evidenced by the Note pursuant to Section 6.2 any provision hereof or of any other Loan Document, or if an Event of Default hereunder or under any other Loan Document shall have occurred and be continuing, the outstanding principal balance of the indebtedness advanced under this Agreement, together with all accrued interest thereon and any and all other Obligationsthereon, shall bear interest from the date on which such amount shall have first become due and payable to the date on which such amount shall be paid (whether before or after judgment) at the Default Interest Rate. Interest at the Default Interest Rate will continue to accrue and will (to the extent permitted by applicable law) be compounded daily until the Obligations in respect of such payment are discharged (whether before or after judgment).

Interest on Overdue Payments; Default Interest Rate. If any payment of principal or interest interest, or any other sum payable to the Bank by Borrower pursuant to this Agreement, the Note or any Swap Document, is not paid when due, or prior to the expiration of at the applicable period of grace (if any) therefor, National City the Bank may charge and collect from Borrower, or may add to the unpaid balance of the Notes, Borrower a Late Charge. National City The Bank may charge interest on the Late Charge at the Default Interest Rate until such time as the required payment of principal and interest (together with the Late Charge) is paid hereunder. No failure by National City the Bank to charge or collect any Late Charge in respect of any delinquent payment shall be considered to be constitute a waiver by National City the Bank of any rights they it may have hereunder, including without limitation the right subsequently to impose a Late Charge for such delinquent payment or to take such other actions as may then be available to them hereunder or it hereunder, under any other Loan Document, at law or in equity, including but not limited to the right to accelerate the Obligations pursuant to the terms of Section 6.2 hereof. If the Notes have been accelerated Bank shall accelerate the indebtedness evidenced by the Note pursuant to Section 6.2 any provision hereof or of any other Loan Document, or if an Event of Default hereunder or under any other Loan Document shall have occurred and be continuing, the outstanding principal balance of the indebtedness advanced under this Agreement, together with all accrued interest thereon and any and all other Obligationsthereon, shall bear interest from the date on which such amount shall have first become due and payable to the date on which such amount shall be paid (whether before or after judgment) at the Default Interest Rate. Interest at the Default Interest Rate will continue to accrue and will (to the extent permitted by applicable law) be compounded daily until the Obligations in respect of such payment are discharged (whether before or after judgment).

Interest on Overdue Payments; Default Interest Rate. If any payment of principal or interest is not paid when due, or prior to the expiration of the applicable period of grace (if any) therefor, National City the Bank may charge and collect from Borrower, or may add to the unpaid balance of the Notes, Borrower a Late Charge. National City The Bank may charge interest on the Late Charge at the Default Interest Rate until such time as the required payment of principal and interest (together with the Late Charge) is paid hereunder. No failure by National City the Bank to charge or collect any Late Charge in respect of any delinquent payment shall be considered to be constitute a waiver by National City the Bank of any rights they it may have hereunder, including without limitation the right subsequently to impose a Late Charge for such delinquent payment or to take such other actions as may then be available to them hereunder or it hereunder, under any other Loan Document, at law or in equity, including but not limited to the right to accelerate the Obligations pursuant to the terms of Section 6.2 hereof. If the Notes have been accelerated Bank shall accelerate the indebtedness evidenced by the Note pursuant to Section 6.2 any provision hereof or of any other Loan Document, or if an Event of Default hereunder or under any other Loan Document shall have occurred and be continuing, the outstanding principal balance of the indebtedness advanced under this Agreement, together with all accrued interest thereon and any and all other Obligationsthereon, shall bear interest from the date on which such amount shall have first become due and payable to the date on which such amount shall be paid (whether before or after judgment) at the Default Interest Rate. Interest at the Default Interest Rate will continue to accrue and will (to the extent permitted by applicable law) be compounded daily until the Obligations in respect of such payment are discharged (whether before or after judgment).