Common use of Post-Default Interest Clause in Contracts

Post-Default Interest. Any principal balance not paid when due (whether by acceleration or otherwise) shall accrue interest at the Default Rate (as defined below) until such principal balance is paid. The “Default Rate” shall be a per annum rate of interest equal to (i) twelve percent (12%) or (ii), if less, the highest rate of interest permitted by applicable law. Secured Party may, at its option, apply late payments (either in full or partial) in the following manner: first to interest, then to principal, and finally to late charges. To the extent permitted by applicable law, Debtor shall pay interest on delinquent principal installments on demand regardless of whether or not Secured Party proceeds under the Remedies provisions hereof or under the Loan Agreement or takes any other action, and demand for and collection of interest on such overdue installments at the Default Rate shall not be deemed a waiver of any default or of any other remedies or rights.

Post-Default Interest. Any principal balance not paid when due (whether by acceleration or otherwise) shall accrue interest at the "Default Rate (as defined below) Rate" until such principal balance is paid. The “"Default Rate” " shall be a per annum rate of interest equal to (i) twelve ten percent (1210.0%) or (ii), if less, the highest rate of interest permitted by applicable law. Secured Party may, at its option, apply late payments (either in full or partial) in the following manner: first to interest, then to principal, and finally to late charges. To the extent permitted by applicable law, Debtor shall pay interest on delinquent principal installments on demand regardless of whether or not Secured Party proceeds under the Remedies "Remedies" provisions hereof or under the Loan Agreement or takes any other action, and demand for and collection of interest on such overdue installments at the Default Rate shall not be deemed a waiver of any default or of any other remedies or rights.

Post-Default Interest. Any principal balance not paid when due (whether by acceleration or otherwise) shall accrue interest at the "Default Rate (as defined below) Rate" until such principal balance is paid. The “"Default Rate” " shall be a per annum rate of interest equal to (i) twelve fifteen percent (1215.0%) or (ii), if less, the highest rate of interest permitted by applicable law. Secured Party may, at its option, apply late payments (either in full or partial) in the following manner: ; first to interest, then to principal, and finally to late charges. To the extent permitted by applicable law, Debtor shall pay interest on delinquent principal installments on demand regardless of whether or not Secured Party proceeds under the Remedies "Remedies" provisions hereof or under the Loan Agreement or takes any other action, and demand for and collection of interest on such overdue installments at the Default Rate shall not be deemed a waiver of any default or of any other remedies or rights.

Post-Default Interest. Any principal balance not paid when due (whether by acceleration or otherwise) shall accrue interest at the Default Rate (as defined below) until such principal balance is paid. The “Default Rate” Rate shall be a per annum rate of interest equal to (i) twelve fifteen percent (1215.0%) or (ii), if less, the highest rate of interest permitted by applicable law. Secured Party may, at its option, apply late payments (either in full or partial) in the following manner: first to interest, then to principal, and finally to late charges. To the extent permitted by applicable law, Debtor shall pay interest on delinquent principal installments on 8 demand regardless of whether or not Secured Party proceeds under the Remedies provisions hereof or under the Loan Agreement or takes any other action, and demand for and collection of interest on such overdue installments at the Default Rate shall not be deemed a waiver of any default or of any other remedies or rights.