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

Interest on Overdue Payments; Default Interest Rate. If the Loans have been accelerated pursuant to Section 8.2(b) or if a Default or an Event of Default with respect to any monetary payment hereunder shall have occurred and during the period in which the Default or Event of Default is continuing, the unpaid principal balance of the Loans and all accrued interest as well as any other Obligations due Lender hereunder or under the Loan Document shall bear interest from the date on which such amount shall have first become due and payable to Lender to the date on which such amount shall be paid to Lender (whether before or after judgment), at the Default Interest Rate. Interest will continue to accrue until the Obligations in respect of the payment are discharged (whether before or after judgment).

Appears in 2 contracts

Samples: Loan Agreement (Unifund Financial Technologies, Inc.), Loan Agreement (Unifund Financial Technologies, Inc.)

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Interest on Overdue Payments; Default Interest Rate. If the --------------------------------------------------- Loans have been accelerated pursuant to Section 8.2(b) or if a Default or an Event of Default with respect to any monetary payment hereunder shall have occurred and during the period in which the Default or Event of Default is continuing, the unpaid outstanding principal balance of the Loans and all accrued interest as well as any other Obligations obligations due Lender hereunder or under the any Loan Document shall bear interest from the date on which such amount shall have first become due and payable to Lender to the date on which such amount shall be paid to Lender (whether before or after judgment), at the Default Interest Rate. Interest will continue to accrue until the Obligations in respect of the payment are discharged (whether before or after judgment).

Appears in 1 contract

Samples: Loan and Security Agreement (New Energy Co of Indiana LTD Partnership)

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Interest on Overdue Payments; Default Interest Rate. If the Loans Revolving Credit Notes have been accelerated pursuant to Section 8.2(b9.2(b) or if a Default or an Event of Default with respect to any monetary payment hereunder shall have occurred and during the period in which the Default or Event of Default is continuing, the unpaid outstanding principal balance of the Loans and all accrued interest as well as any other Obligations due Lender Lenders or Agent hereunder or under the any Loan Document shall bear interest from the date on which such amount shall have first become due and payable to Lender Lenders or Agent to the date on which such amount shall be paid to Lender Lenders or Agent (whether before or after judgment), at the Default Interest Rate. Interest at the Default Interest Rate will continue to accrue until the Obligations in respect of the payment are discharged (whether before or after judgment).accrue

Appears in 1 contract

Samples: Credit Agreement (Roma Fort Worth Inc)

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