Common use of Interest Rate and Payment after Default Clause in Contracts

Interest Rate and Payment 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 Event of Default occurred. If all or any part of the principal amount of the Loan is prepaid upon acceleration of the Loan following the occurrence of an Event of Default, Borrower shall be required to pay Lender, in addition to all other amounts then payable hereunder (including, without limitation, (i) in the event that such prepayment is received on a Monthly Payment Date, interest which has accrued on such amount through such Monthly Payment Date, or (ii) in the event that such prepayment is received on a date other than a Monthly Payment Date, interest which would have accrued on such amount through the last day of the Interest Period during which such prepayment occurs).

Interest Rate and Payment 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 Event of Default occurred. If all or any part of the principal amount of the Loan is prepaid upon acceleration of the Loan following the occurrence of an Event of Default, Borrower shall be required to pay Lender, in addition to all other amounts then payable hereunder (including, without limitation, (i) in the event that such prepayment is received on a Monthly Payment Date, interest which has accrued on such amount through such Monthly Payment Date, or (ii) in the event that such prepayment is received on a date other than a Monthly Payment Date, interest which would have accrued on such amount through the last day of the Interest Period during month in which such prepayment occurs).

Interest Rate and Payment 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 Event of Default occurred. If all or any part of the principal amount of the Loan is prepaid upon acceleration of the Loan following the occurrence of an Event of Default, Borrower shall be required to pay Lender, in addition to all other amounts then payable hereunder (including, without limitation, (i) in the event that such prepayment is received on a Monthly Payment Date, interest which has accrued on such amount through such Monthly Payment Date, or (ii) in the event that such prepayment is received on a date other than a Monthly Payment Date, interest which would have accrued on such amount through the last day of the Interest Period during which such prepayment occursOccurs).