Non-Default Interest Sample Clauses

Non-Default Interest. Interest will be charged on the unpaid principal balance of this Note prior to acceleration or maturity at a rate of eight percent (8%) per annum, to be calculated on the basis of a 365 day year
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Non-Default Interest. The Borrower shall pay interest to Lender monthly in arrears on the first day of each month commencing on the outstanding and unpaid principal balance of the Revolving Loan, Second Term Loan, Equipment Loan and Equipment Loan IV at a rate per annum equal to, at Borrower's election pursuant to Section 2.14 below, (i) the Prime Rate, (ii) LIBOR plus two hundred (200) basis points, or (iii) the Cost of Funds plus two hundred (200) basis points. Notwithstanding anything contained herein to the contrary, if the Borrower achieves a Debt Service Ratio (as defined in Section 10 of Exhibit A hereto) of greater than or equal to 1.5 to 1.0 for the year to date period tested, the portion of the Revolving Loan which bears interest with respect to the LIBOR Rate or the Cost of Funds Rate will be reduced by twenty-five (25) basis points for the quarter in which the Debt Service Ratio was tested. Any change in the interest rate resulting from a change in the Prime Rate shall become effective as of the opening of business on the day on which such change in the Prime Rate shall become effective.
Sample 1
Non-Default Interest. The Loans comprising each (i) Base Rate Borrowing shall bear interest at a rate per annum equal to the Base Rate plus the Applicable Margin, (ii) SONXX Xxrrowing shall bear interest at a rate per annum equal to Daily Simple SONXX xxus the Applicable Margin, (iii) Eurocurrency Borrowing shall bear interest at a rate per annum equal to the Adjusted Eurocurrency Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin, and (iv) SOFR Borrowing shall bear interest at a rate per annum equal to Adjusted Term SOFR for the Interest Period in effect for such Borrowing plus the Applicable Margin.
Sample 1
Non-Default Interest. The Borrower shall pay interest to Lender monthly in arrears on the first day of each month commencing on the outstanding and unpaid principal balance of the Revolving Loan, Second Term Loan, Equipment Loan, Equipment Loan IV and Acquisition Term Loan (collectively, the "LOANS") at a rate per annum equal to, at Borrower's election pursuant to Sections 2.14 and 2.17 below, (i) the Prime Rate, (ii) LIBOR plus one hundred fifty (150) basis points, or (iii) the Cost of Funds plus one hundred fifty (150) basis points. If the Borrower achieves an Operating Leverage Ratio (as defined in Section 10 of Exhibit A hereto) of less than or equal to 2.0 to 1.0 for the quarter period tested, the Lender, in its sole and absolute discretion, may lower the interest rate on the portion of the Loans which bear interest with respect to the LIBOR Rate by twenty-five (25) basis points for the quarter following the quarter in which the Operating Leverage Ratio was tested.
Sample 1
Non-Default Interest. Subject to the provisions of Section 2.04(b), Loans shall bear interest as follows: (i) during such periods as any Loans shall be comprised of Base Rate Loans, each such Base Rate Loan shall bear interest at a per annum rate equal to the sum of the Base Rate plus the Applicable Margin with respect thereto, and (ii) during such periods as Loans shall be comprised of LIBOR Loans, each such LIBOR Loan shall bear interest at a per annum rate equal to the sum of the LIBOR plus the Applicable Margin with respect thereto.
Sample 1
Non-Default Interest. Subject to the provisions of Section 2.04(b), Loans shall bear interest as follows: (i) during such periods as any Loans shall be comprised of Base Rate Loans, each such Base Rate Loan shall bear interest at a per annum rate equal to the sum of the Base Rate plus the Applicable Margin with respect thereto, and (ii) during such periods as Loans shall be comprised of LIBOR Loans, each such LIBOR Loan shall bear interest at a per annum rate equal to the sum of the LIBOR plus the Applicable Margin with respect thereto. the Term Loan shall bear interest on the unpaid principal balance thereof from the Third Amendment Effective Date until paid in full, in cash in accordance with the terms hereof at a rate equal to twelve percent (12.0%) per annum.
Sample 1

Related to Non-Default Interest

  • Upon Default Landlord shall have the right to pursue any one or more of the following remedies:

  • 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.

  • Default Interest Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

  • Default Interest Rate From and after the occurrence of any Event of Default, and so long as any such Event of Default remains unremedied or uncured thereafter, the Obligations outstanding under the Agreement shall bear interest at a per annum rate of five percent (5%) above the otherwise applicable interest rate hereunder, which interest shall be payable upon demand. In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar days after the payment due date therefor, but acceptance of payment of any such charge shall not constitute a waiver of any Event of Default under the Agreement. In no event shall the interest payable under this Addendum and the Agreement at any time exceed the maximum rate permitted by law.

  • Reservation Default Failure by the Borrower to have reserve for issuance upon conversion of the Note the amount of Common stock as set forth in the Subscription Agreement.

  • Default Interest; Late Charge Following the occurrence and during the continuance of any Event of Default, and regardless of whether or not the Agent or the Lenders shall have accelerated the maturity of the Loans, all Loans shall bear interest payable on demand at a rate per annum equal to the sum of the Base Rate plus the Applicable Margin plus five percent (5.0%) (the “Default Rate”), until such amount shall be paid in full (after as well as before judgment), and the fee payable with respect to Letters of Credit shall be increased to a rate equal to five percent (5.0%) above the Letter of Credit fee that would otherwise be applicable to such time, or if any of such amounts shall exceed the maximum rate permitted by law, then at the maximum rate permitted by law. In addition, the Borrower shall pay a late charge equal to four percent (4.0%) of any amount of interest and/or principal payable on the Loans or any other amounts payable hereunder or under the other Loan Documents, which is not paid by the Borrower within ten (10) days of the date when due (or, in the case of amounts due at the Revolving Credit Maturity Date or Term Loan Maturity Date, as applicable, within fifteen (15) Business Days of such date).

  • Payment of Default Interest Any interest which shall have accrued under Clause 16.2 (Default Interest) in respect of an unpaid sum shall be due and payable and shall be paid by the Borrower at the end of the period by reference to which it is calculated or on such other dates as the Lender may specify by written notice to the Borrower.

  • Compounding of default interest Any such interest which is not paid at the end of the period by reference to which it was determined shall thereupon be compounded.

  • Late Charge and Interest on Rent in Default Tenant acknowledges that the late payment by Tenant of any monthly installment of Base Monthly Rent or any Additional Rent will cause Landlord to incur certain costs and expenses not contemplated under this Lease, the exact amounts of which are extremely difficult or impractical to fix. Such costs and expenses will include without limitation, administration and collection costs and processing and accounting expenses. Therefore, if any installment of Base Monthly Rent is not received by Landlord from Tenant within five (5) calendar days after the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to the amount set forth in Article 1 as the “Late Charge Amount,” and if any Additional Rent is not received by Landlord when the same becomes due, Tenant shall immediately pay to Landlord a late charge in an amount equal to 5% of the Additional Rent not so paid. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the anticipated loss Landlord would suffer by reason of Tenant’s failure to make timely payment. In no event shall this provision for a late charge be deemed to grant to Tenant a grace period or extension of time within which to pay any rental installment or prevent Landlord from exercising any right or remedy available to Landlord upon Tenant’s failure to pay each rental installment due under this Lease when due, including the right to terminate this Lease. If any rent remains delinquent for a period in excess of five (5) calendar days, then, in addition to such late charge, Tenant shall pay to Landlord interest on any rent that is not so paid from said fifth day at the then maximum rate of interest not prohibited or made usurious by Law until paid.

  • Payment of default interest on overdue amounts The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is:

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