Common use of Interest Upon Event of Default Clause in Contracts

Interest Upon Event of Default. If an Event of Default has occurred and is continuing, all Loans and all other Obligations shall bear interest until paid in full at a rate per annum that is two percent (2.0%) in excess of the Base Rate. If this Agreement or the other Loan Documents do not specify an interest rate for a particular Obligation, such Obligation shall, for purposes of this Section 5.6., be deemed to be a Base Rate Loan.

Interest Upon Event of Default. If an Event of Default has occurred and is continuing, all Loans and all other Obligations shall bear interest until paid in full at a rate per annum that is two percent (2.0%) in excess of the Base Rate. If this Agreement or the other Loan Documents do not specify an interest rate for a particular Obligation, such Obligation shall, for purposes of this Section 5.63.6., be deemed to be a Base Rate Loan.