Past Due Rate. Each Loan (and any overdue interest in respect of each Loan) shall bear interest for each day on which an Event of Default exists (after as well as before judgment), payable on demand, at a rate per annum (the "Past-Due Rate") equal to the greater of 5% in excess of the interest rate otherwise applicable to such Loan on such day or 4.5% in excess of the Base Rate in effect on such day.
Appears in 4 contracts
Samples: Term Loan and Revolving Credit Agreement (Firstcity Financial Corp), Revolving Credit Agreement (Firstcity Financial Corp), Loan Agreement (Firstcity Financial Corp)
Past Due Rate. Each Loan (and any overdue interest in respect of each Loan) shall bear interest for each day on which an Event of Default exists (after as well as before judgment), payable on demand, at a rate per annum (the "“Past-Due Rate"”) equal to the greater of 5% in excess of the interest rate otherwise applicable to such Loan on such day or 4.57.5% in excess of the Base Rate in effect on such day.
Appears in 1 contract
Samples: Subordinated Delayed Draw Credit Agreement (Firstcity Financial Corp)
Past Due Rate. Each Loan (and any overdue interest in respect of each Loan) shall bear interest for each day on which an Event of Default exists (after as well as before judgment), payable on demand, at a rate per annum (the "“Past-Due Rate"”) equal to the greater of 5% in excess of the interest rate otherwise applicable to such Loan on such day or 4.5% in excess of the Base Rate in effect on such day.
Appears in 1 contract
Samples: Revolving Credit Agreement (Firstcity Financial Corp)
Past Due Rate. Each Loan (and any overdue interest in respect of each Loan) shall bear interest for each day on which an Event of Default exists (after as well as before judgment), payable on demand, at a rate per annum equal to 5.25% (such rate, the "“Past-Due Rate") equal to the greater of 5% in excess of the interest rate otherwise applicable to such Loan on such day or 4.5% in excess of the Base Rate in effect on such day”).
Appears in 1 contract
Samples: Reducing Note Facility Agreement (Firstcity Financial Corp)
Past Due Rate. Each Loan (and any overdue interest in respect of each Loan) shall bear interest for each day on which an Event of Default exists (after as well as before judgment), payable on demand, at a rate per annum equal to 5.25% (such rate, the "“Past-Due Rate") equal to the greater of 5% in excess of the interest rate otherwise applicable to such Loan on such day or 4.5% in excess of the Base Rate in effect on such day”).
Appears in 1 contract
Samples: Reducing Note Facility Agreement (Firstcity Financial Corp)
Past Due Rate. Each Loan (and any overdue interest in respect of each Loan) shall bear interest for each day on which an Event of Default exists (after as well as before judgment), payable on demand, at a rate per annum (the "Past-Due Rate") equal to the greater of 5% in excess of the interest rate otherwise applicable to such Loan on such day or 4.5% in excess of the Base Applicable Rate in effect on such dayday (such rate, the “Past-Due Rate”).
Appears in 1 contract
Samples: Reducing Note Facility Agreement (Firstcity Financial Corp)
