Interest Rate after Default. At Lender’s option, and to the extent permitted by applicable law, the unpaid principal balance shall bear interest after default and after maturity (whether by acceleration or otherwise) at the Default Interest Rate. The “Default Interest Rate” shall be, at Lender’s option, (i) eighteen percent (18%) per annum, or (ii) such lesser rate of interest as Lender in its sole discretion may choose to charge; but never more than the Maximum Lawful Rate or at a rate that would cause the total interest contracted for, charged or received by Lender to exceed the applicable maximum lawful amount.
Interest Rate after Default. If Lender has not received the full amount of any monthly payment for 30 days or more after the Payment Date or any other Event of Default has occurred and is continuing, then the interest rate under this Note will increase to the Fixed Annual Interest Rate plus 4% (“Default Annual Interest Rate”) beginning on that Payment Date or the date any other Event of Default commences. If Xxxxxxxx has not paid the entire Principal Amount by the Maturity Date, the Default Annual Interest Rate will continue until and including the date on which the entire unpaid portion of the Principal Amount is paid in full.
Interest Rate after Default. Interest shall accrue on the outstanding principal balance of all Advances made pursuant to this Agreement at a rate equal to the Prime Interest Rate plus five percent (5%) per annum upon the occurrence and during the continuance of any Event of Default and the expiration of any applicable cure period, unless otherwise waived in writing.
Interest Rate after Default. In the event that, and for so long as, any Event of Default shall have occurred and be continuing, the outstanding principal balance of the Loan shall accrue interest at the Default Rate, calculated from the date the Default occurred which led to such an Event of Default without regard to any grace or cure periods contained herein. If all or any part of the principal amount of the Loan is prepaid upon acceleration of the Loan following the occurrence and during the continuance of an Event of Default, Borrower shall be required to pay Lender, in addition to all other amounts then payable hereunder, and if such acceleration is prior to the Permitted Prepayment Date, a Spread Maintenance Premium calculated with respect to the amount of principal being repaid, and the applicable Breakage Costs.
Interest Rate after Default. In the event that, and for so long as, any Event of Default shall have occurred and be continuing, the outstanding principal balance of each Component shall accrue interest at the Default Rate, calculated from the date the Default occurred which led to such an Event of Default without regard to any grace or cure periods contained herein.
Interest Rate after Default. If the Companies fail to make any payment of interest or principal or other payment due on any note or letter of credit reimbursement agreement executed in connection with this Agreement on or before five (5) business days after the date such payment is due, or if the Companies shall fail to make any payment required by Section 6.1 or 6.2 of this Agreement on or before thirty (30) business days after the date such payment is due, or if any other Event of Default occurs hereunder and is not cured or waived with 120 days after the date of such Event of Default, or if the Bank shall declare the entire principal and all interest accrued on all notes and any other obligations outstanding pursuant to this Agreement to be due and payable, then interest shall thereafter accrue on each outstanding principal balance of the Loan and on any unreimbursed draws under the Letters of Credit at a rate equal to three and one-half percentage points (3-1/2%) in excess of the Prime Commercial Rate of the Bank.
Interest Rate after Default. Upon the occurrence of an Event of Default, the Holder may, upon notice to the Maker, raise the interest rate on the unpaid principal amount under this Convertible Note to a rate which is two (2) percentage points above the rate of interest otherwise applicable (the "Default Interest Rate"), independent of whether the Holder elects to accelerate the unpaid principal balance as a result of such default.
Interest Rate after Default. Upon the occurrence of any Event of Default and the expiration of any applicable cure period, interest shall thereafter accrue on the outstanding principal balance of each Advance made pursuant to this Agreement and unpaid interest, if any, at a rate equal to 3.00% per annum above the Prime Rate.
Interest Rate after Default. If Lender has not received the full amount of any monthly payment for 30 days or more after the Installment Due Date or any other Event of Default has occurred and is continuing, then the interest under this Note will accrue on the unpaid principal balance at a rate equal to the Fixed Interest Rate plus 4% (“Default Rate”) beginning on that Installment Due Date or the date such other Event of Default commences; provided, that in no event will the Default Rate exceed the Maximum Interest Rate specified in Section 9. If Borrower has not paid the entire principal balance of this Note by the Maturity Date, the unpaid principal balance will continue to bear interest at the Default Rate until and including the date on which the entire principal balance of this Note is paid in full.
Interest Rate after Default. 9 3.3 Prepayment................................................. 9 3.4
