Interest Rate Upon Event of Default. Commencing on the occurrence of any Event of Default and until such Event of Default is cured, this Note shall accrue interest at an interest rate equal to the Default Interest Rate.
Interest Rate Upon Event of Default. Upon the occurrence and during the continuance of any Event of Default, principal and (to the extent permitted by applicable law) interest on the Loans, the Letter of Credit Fee(s) and all other amounts payable hereunder shall bear interest compounded monthly and payable on demand at a rate per annum equal to 2% above the rate otherwise in effect for such Loans or Letter(s) of Credit, to accrue from the date any Event of Default occurs until the obligation of the Borrower and/or the Canadian Borrower, as the case may be, with respect to the payment thereof shall be discharged whether before or after judgment.
Interest Rate Upon Event of Default. If the Company defaults in the payment of any amounts due under this Note, then without prejudice to any other remedy available to each Holder: (i) any unpaid principal and interest accrued on the Note shall become immediately due and payable to the Holder from the date of default; (ii) interest shall accrue on any unpaid amount at the Default Interest Rate from the date of default until the date on which it is paid to the Holder in full; and (iii) any interest charged at the Default Interest Rate must be paid by the Company to the Holder immediately on demand by the Holder.
Interest Rate Upon Event of Default. Notwithstanding the foregoing but subject to the interest rate limitations set forth in the Modal Agreement and in paragraph 1(a) above, upon the occurrence and continuation of an Event of Default, from and after the effective date of such Event of Default, the interest rate for this Series 2014_ Bond shall be established at a rate at all times equal to the interest rate that otherwise would be applicable to this Series 2014_ Bond. The determination of any Index Interest Rate by the Calculation Agent shall be conclusive and binding upon the Board, the Bond Registrar, the Remarketing Agent, if any, and the Owner absent manifest error.
Interest Rate Upon Event of Default. Upon an Event of Default, the interest rate hereunder shall increase from 8% to 13% per annum.
Interest Rate Upon Event of Default. Upon the occurrence of any Event of Default, this Note shall bear interest, until paid in full, at an annual rate equal to the lesser of (a) the highest rate allowed by applicable law and (b) the interest rate then otherwise in effect hereunder plus 4% per annum.
