Interest Upon Payment Default Sample Clauses

Interest Upon Payment Default. Upon a default in the payment of interest or any other amount due under this Agreement or any of the other Loan Documents to which Borrower is a party or satisfaction of such amounts by issuance of PIK Notes, Borrower shall pay interest on such overdue amount, both before and after judgment, at a rate per annum equal to the applicable rate of interest payable under this Section 1.4 plus three percent (3%), calculated on a daily basis from the date such amount becomes overdue for so long as such amount remains overdue and on the basis of the actual number of days elapsed in a 360 day year. Such interest shall be payable by Borrower upon demand by Administrative Agent and shall compound monthly. From and after the occurrence of any Event of Default, all interest payable on the Loans shall be increased by three percent (3%) per annum over the interest otherwise applicable hereunder.
Sample 1
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Interest Upon Payment Default. Upon a default in the payment of interest or any other amount (other than principal) due under this Agreement or any of the other Loan Documents to which Borrower is a party, Borrower shall pay interest on such overdue amount, both before and after judgment, at a rate per annum equal to (1) in the case of overdue interest, the rate of interest payable under this Section 1.5 on the principal amount to which such overdue interest relates and (2) in the case of all such other overdue amounts (which overdue amounts, for greater certainty, shall not include overdue principal or interest in any case), the Index Rate plus 4.50%, in each case, calculated on a daily basis from the date such amount becomes overdue for so long as such amount remains overdue and on the basis of the actual number of days elapsed in a 365 day year. Such interest shall be payable upon demand by Lender. From and after the occurrence of any Event of Default, the Letter of Credit Fee shall be increased by two percent (2%) per annum.
Sample 1
Interest Upon Payment Default. None of the payments, if any, due to Seller by the Company under subsection (i) or (ii) of this Section 6(e) shall bear interest if paid when due. However, past due payments, if any, shall bear and accrue interest at the rate of 8% per annum from the due dates specified above through and including the actual date of payment.
Sample 1
Interest Upon Payment Default. Upon a default in the payment of interest or any other amount (other than principal) due under this Agreement or any of the other Loan Documents to which Borrower is a party, Borrower shall pay interest on such overdue amount, both before and after judgment, at a rate per annum equal to (1) in the case of overdue interest, the rate of interest payable under this Section 1.5 on the principal amount to which such overdue interest relates and
Sample 1

Related to Interest Upon Payment Default

  • Other Payment Default The Borrower shall default in the payment when and as due (whether at maturity, by reason of acceleration or otherwise) of interest on any Loan or Reimbursement Obligation or the payment of any other Obligation, and such default shall continue for a period of three (3) Business Days.

  • Payment Default Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);

  • No Payment Default Except for payment delinquencies that have been continuing for a period of not more than 29 days, no payment default under the terms of any Receivable exists as of the Cutoff Date.

  • Payment Defaults Tenant shall fail to pay any installment of Rent or any other payment hereunder when due; provided, however, that Landlord will give Tenant notice and an opportunity to cure any failure to pay Rent within 3 days of any such notice not more than once in any 12 month period and Tenant agrees that such notice shall be in lieu of and not in addition to, or shall be deemed to be, any notice required by law.

  • Interest After Event of Default If an Event of Default shall have occurred and is continuing, all sums outstanding and unpaid under the Credit Documents, including this Deed of Trust, shall, at Beneficiary’s option, bear interest at the Default Rate until such Event of Default has been cured. Trustor’s obligation to pay such sums and interest shall be secured by this Deed of Trust.

  • Termination Upon Event of Default If Foothill terminates this Agreement upon the occurrence of an Event of Default, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of Foothill's lost profits as a result thereof, Borrower shall pay to Foothill upon the effective date of such termination, a premium in an amount equal to the Early Termination Premium. The Early Termination Premium shall be presumed to be the amount of damages sustained by Foothill as the result of the early termination and Borrower agrees that it is reasonable under the circumstances currently existing. The Early Termination Premium provided for in this Section 3.7 shall be deemed included in the Obligations.

  • Repayment on Event of Default When there is an Event of Default, Borrower will, if Bank demands (or, upon the occurrence of an Event of Default under Section 8.5, immediately without notice or demand from Bank) repay all of the Advances. The demand may, at Bank’s option, include the Advance for each Financed Receivable then outstanding and all accrued Finance Charges, the Early Termination Fee, Collateral Handling Fee, attorneys’ and professional fees, court costs and expenses, and any other Obligations.

  • Post-Default Interest Upon the occurrence, and during the continuance, of any Event of Default, the unpaid principal amount of each Advance shall bear interest at a rate per annum equal at all times to 2% per annum above the rate per annum otherwise required to be paid on such Advance in accordance with subsection (a), (b) or (c) above; provided that any amount of principal which is not paid when due (whether at stated maturity, by acceleration or otherwise) shall bear interest, from the date on which such amount is due until such amount is paid in full, payable on demand, at a rate per annum equal at all times to the greater of (x) 2% per annum above the Base Rate in effect from time to time and (y) 2% per annum above the rate per annum required to be paid on such Advance immediately prior to the date on which such amount became due.

  • Judgment Default One or more judgments or decrees shall be entered against a Credit Party or any of its Subsidiaries involving in the aggregate a liability (to the extent not covered by insurance) of $75,000,000 or more and all such judgments or decrees shall not have been paid and satisfied, vacated, discharged, stayed or bonded pending appeal within twenty (20) Business Days from the entry thereof or any injunction, temporary restraining order or similar decree shall be issued against a Credit Party or any of its Subsidiaries that, individually or in the aggregate, could result in a Material Adverse Effect; or

  • Additional Event of Default The following will constitute an additional Event of Default with respect to Party B: "NOTE ACCELERATION NOTICE. A Note Acceleration Notice is served on Party B in relation to the Relevant Notes."

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