Common use of Late Payments and Default Rate Clause in Contracts

Late Payments and Default Rate. Notwithstanding the foregoing, if a Borrower shall fail to pay within ten (10) days after the due date any principal amount or interest or other amount payable under this Agreement or under any Note, such Borrower shall pay to Lender, to defray the administrative costs of handling such late payments, an amount equal to interest on the amount overdue and unpaid, to the extent permitted under applicable law, at the Default Rate (instead of the applicable Interest Rate), from and including the due date until such overdue principal amount, interest or other unpaid amount is paid in full (both before and after judgment) whether or not any notice of default in the payment thereof has been delivered under Section 9.01 hereof. In addition, but without duplication, upon the occurrence and during the continuance of an Event of Default, all outstanding amounts hereunder shall bear interest at the Default Rate (instead of the Interest Rate) until such amounts are paid in full or such Event of Default is cured by a Borrower or is waived in writing by Lender.

Late Payments and Default Rate. Notwithstanding the foregoing, if a Borrower shall fail to pay within ten (10) days after the due date any principal amount or interest or other amount payable under this Agreement or under any Note, such Borrower shall pay to Lender, to defray the administrative costs of handling such late payments, an amount equal to interest on the amount overdue and unpaid, to the extent permitted under applicable law, at the Default Rate (instead of the applicable Interest Rate), from and including the due date until such overdue principal amount, interest or other unpaid amount is paid in full (both before and after judgment) whether or not any notice of default in the payment thereof has been delivered under Section SECTION 9.01 hereof. In addition, but without duplication, upon the occurrence and during the continuance of an Event of Default, all outstanding amounts hereunder shall bear interest at the Default Rate (instead of the Interest Rate) until such amounts are paid in full or such Event of Default is cured by a Borrower or is waived in writing by Lender.

Late Payments and Default Rate. Notwithstanding the foregoing, if a Borrower shall fail to pay within ten (10) days after the due date any principal amount or interest or other amount payable under this Agreement or under any the Note, such Borrower shall pay to Lender, to defray the administrative costs of handling such late payments, an amount equal to interest on the amount overdue and unpaid, to the extent permitted under applicable law, at the Default Rate (instead of the applicable Interest Rate), from and including the due date until such overdue principal amount, interest or other unpaid amount is paid in full (both before and after judgment) whether or not any notice of default in the payment thereof has been delivered under Section 9.01 9.1 hereof. In addition, but without duplication, upon the occurrence and during the continuance of an Event of Default, all outstanding amounts hereunder shall bear interest at the Default Rate (instead of the Interest Rate) until such amounts are paid in full or such Event of Default is cured by a Borrower or is waived in writing by Lender.

Late Payments and Default Rate. Notwithstanding the foregoing, if a Borrower ------------------------------ the applicable Borrowers shall fail to pay within ten (10) days after the due date any principal amount or interest or other amount payable under this Agreement or under any a Note, such Borrower the applicable Borrowers shall pay to Lender, to defray the administrative costs of handling such late payments, an amount equal to interest on the amount overdue and unpaid, to the extent permitted under applicable law, at the Default Rate (instead of the applicable Interest Rate), from and including the due date until such overdue principal amount, interest or other unpaid amount is paid in full (both before and after judgment) whether or not any notice of default in the payment thereof has been delivered under Section 9.01 hereof. In addition, but without duplication, upon the ------------ occurrence and during the continuance of an Event of Default, all outstanding amounts hereunder shall bear interest at the Default Rate (instead of the Interest Rate) until such amounts are paid in full or such Event of Default is cured by a Borrower or is waived in writing by Lender.

Late Payments and Default Rate. Notwithstanding the foregoing, if a Borrower shall fail to pay within ten (10) days after the due date any principal amount or interest or other amount payable under this Agreement or under any the Note, such Borrower shall pay to Lender, to defray the administrative costs of handling such late payments, an amount equal to interest on the amount overdue and unpaid, to the extent permitted under applicable law, at the Default Rate (instead of the applicable Interest Rate), from and including the due date until such overdue principal amount, interest or other unpaid amount is paid in full (both before and after judgment) whether or not any notice of default in the payment thereof has been delivered under Section 9.01 hereof. In addition, but without duplication, upon the occurrence and during the continuance of an Event of Default, all outstanding amounts hereunder shall bear interest at the Default Rate (instead of the Interest Rate) until such amounts are paid in full or such Event of Default is cured by a Borrower or is waived in writing by Lender.

Late Payments and Default Rate. Notwithstanding the foregoing, if a Borrower shall fail to pay pay, within ten (10) days after the due date thereof, any principal amount or interest or other amount payable under this Agreement or under any the Note, such Borrower shall pay to Lender, to defray the administrative costs of handling such late payments, an amount equal to interest on the amount overdue and unpaid, to the extent permitted under applicable lawLaw, at the Default Rate (instead of the applicable Interest Rate), from and including the due date until such overdue principal amount, amount or interest or other unpaid amount is paid in full (both before and after judgment) whether or not any notice of default in the payment thereof has been delivered under Section 9.01 hereof. In addition, but without duplication, upon the occurrence and during the continuance of an Event of Default, all outstanding amounts principal and interest hereunder shall bear interest at the Default Rate (instead of the Interest Rate) until such amounts are paid in full or such Event of Default is cured by a Borrower or is waived in writing by Lender.

Late Payments and Default Rate. Notwithstanding the foregoing, if a Borrower shall fail to pay within ten (10) days after the due date any principal amount or interest or other amount payable under this Agreement or under any Note, such Borrower shall pay to Lender and/or to the holder of any Note not held by Lender, to defray the administrative costs of handling such late payments, an amount equal to interest on the amount overdue and unpaid, to the extent permitted under applicable law, at the Default Rate (instead of the applicable Interest Rate), from and including the due date until such overdue principal amount, interest or other unpaid amount is paid in full (both before and after judgment) whether or not any notice of default in the payment thereof has been delivered under Section 9.01 hereof. In addition, but without duplication, upon the occurrence and during the continuance of an Event of Default, all outstanding amounts hereunder shall bear interest at the Default Rate (instead of the Interest Rate) until such amounts are paid in full or such Event of Default is cured by a Borrower or is waived in writing by Lender.

Late Payments and Default Rate. Notwithstanding the foregoing, ------------------------------ if a Borrower shall fail to pay within ten (10) 10 days after the due date any principal amount or interest or other amount payable under this Agreement or under any the Note, such Borrower shall pay to Lender, to defray the administrative costs of handling such late payments, an amount equal to interest on the amount overdue and unpaid, to the extent permitted under applicable law, at the Default Rate (instead of the applicable Interest Rate), from and including the due date until such overdue principal amount, interest or other unpaid amount is paid in full (both before and after judgment) whether or not any notice of default in the payment thereof has been delivered under Section 9.01 hereof. In addition, but without duplication, upon the occurrence and during the continuance of an Event of Default, all outstanding amounts hereunder shall bear interest at the Default Rate (instead of the Interest Rate) until such amounts are paid in full or full, such Event of Default is cured by a Borrower Borrower, or such Event of Default is waived in writing by Lender.