Interest Rate; Default Rate. The Loan shall bear interest at the Applicable Rate, which shall be the rate per annum equal to the aggregate of (a) LIBOR for the applicable Interest Period and (b) the Margin. Any amounts due under this Agreement, not paid when due, whether on a Repayment Date, by acceleration or otherwise, shall bear interest thereafter at the Default Rate.
Interest Rate; Default Rate. This Secured Note shall bear interest at the Interest Rate from the date hereof until all Note Obligations are Paid in Full. Interest shall be computed on the basis of a year of 360 days and the actual number of days elapsed.
Interest Rate; Default Rate. Subject to this Section 2(f), the principal amount outstanding under the Loans shall accrue interest at a fixed per annum rate of the lesser of (a) five percent (5.0%) and (b) the maximum interest rate permitted by law, which interest shall accrue on each Loan commencing on, and including, the funding date of such Loan (the “Funding Date”), and shall accrue on the principal amount outstanding under such Loan through and including the day on which such Loan is paid (or converted into Borrower Securities) in full. Interest shall be computed on the basis of a three hundred sixty (360) day year consisting of twelve (12) months of thirty (30) days. Upon the occurrence and during the continuance of an Event of Default and upon written notice to the Borrower from the Lender, Obligations shall accrue interest at a fixed per annum rate of the lesser of (a) eight percent (8%) and (b) the maximum interest rate permitted by law (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2(f) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Borrower.
Interest Rate; Default Rate. Upon the occurrence of a Trigger Event, interest shall accrue on the unpaid balance of this Note at a rate of two percent (2%) per annum. Upon the occurrence of an Event of Default, all obligations under this Note shall bear interest, until paid in full, at a rate of five percent (5%) per annum. All computations of interest shall be made on the basis of a year of 365 days, and the actual number of days elapsed.
Interest Rate; Default Rate. The Revolving Credit Facility shall bear interest from the date hereof until Maturity at the Interest Rate set forth in the Note. In an Event of Default the Note shall bear interest until paid at the Default Rate.
Interest Rate; Default Rate. (i) The per annum interest rate listed as the U.S. “prime” rate as published from time to time under “Money Rates” in the Wall Street Journal plus 5% (“Default Rate”), but in no event greater than the maximum rate permitted by law.
Interest Rate; Default Rate. The Principal Amount shall bear interest as agreed by the Parties, as the case may be.
Interest Rate; Default Rate. This Mortgage secures the full and timely payment of the Obligations, including, among other things, the obligation to pay interest on the unpaid principal balance of each Loan at an Interest Rate determined separately for each Loan on the date that is the Business Day immediately preceding the date upon which the Loan is funded by Mortgagee, all as more specifically provided in the Loan Agreement. Any portion of the Obligations not paid to Mortgagee when due shall bear interest at the Default Rate specified in the Loan Agreement until the date when paid.
Interest Rate; Default Rate. From (and including) the date of this Debenture through (but not including) the earlier of the Maturity Date or the date the maturity of this Debenture is accelerated pursuant to Section 9.1, interest shall accrue on the unpaid principal balance of this Debenture at an annual fixed rate equal to 5% per annum. All past due principal and interest shall accrue interest at the Default Rate from (and including) the day after the date such principal or interest is payable hereunder through (but not including) the date of payment. Interest will be calculated on the basis of the actual number of days elapsed over a year composed of 365 days (or 366 days, as the case may be).
Interest Rate; Default Rate. Each Advance shall bear interest at the Applicable Rate, which shall be the rate per annum equal to the aggregate of (a) LIBOR for applicable Interest Period and (b) the Margin. Any amounts due under this Agreement, including but not limited to, amounts payable at the time of a Commitment Reduction, not paid when due, whether on a Reduction Date, by acceleration or otherwise, shall bear interest thereafter at the Default Rate.
