Common use of Overdue Rate Clause in Contracts

Overdue Rate. If all or a portion of (i) any Equity Investment, (ii) any Yield payable on any Equity Investment, or (iii) any other amount payable to Lessor hereunder (whether in respect of yield, fees or other amounts) shall not be paid when due (whether at the stated maturity thereof, by acceleration or otherwise), then such overdue amount shall bear interest, payable on demand, at a rate per annum which is equal to the Overdue Rate. Without duplication of the foregoing, upon the occurrence and during the continuance of any Event of Default, the Equity Investment and, to the extent permitted by Applicable Law, Yield on the Equity Investment and interest on any other amounts owing hereunder or under the other Operative Documents shall bear interest, payable on demand, at a per annum rate of two percent (2%) greater than the rate which would otherwise be applicable. Such interest shall be added to and constitute Supplemental Rent, payable by Lessee.

Overdue Rate. If all or a portion of (i) any Equity Investment, (ii) any Interim Yield or Yield payable on any Equity Investment, or (iii) any other amount payable to Lessor hereunder (whether in respect of yield, fees or other amounts) shall not be paid when due (whether at the stated maturity thereof, by acceleration or otherwise), then such overdue amount shall bear interest, payable on demand, at a rate per annum which is equal to the Overdue Rate. Without duplication of the foregoing, upon the occurrence and during the continuance of any Event of Default, the Equity Investment and, to the extent permitted by Applicable Law, Interim Yield or Yield on the Equity Investment and interest on any other amounts owing hereunder or under the other Operative Documents shall bear interest, payable on demand, at a per annum rate of two percent (2%) greater than the rate which would otherwise be applicable. Such interest shall be added to and constitute Supplemental Rent, payable by Lessee.