Common use of Interest Rate; Default Rate Clause in Contracts

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.