Common use of Post-Maturity Interest Clause in Contracts

Post-Maturity Interest. Upon and after the occurrence of any ---------------------- Event of Default, the outstanding principal amount of all Advances and Reimbursement Obligations and, to the extent permitted by applicable law, any interest payments thereon not paid when due and any fees and other amounts then due and payable hereunder, shall thereafter bear interest (including post- petition interest in any proceeding under applicable bankruptcy laws) payable upon demand at a rate that is 2.00% per annum (calculated on an Actual/360 Basis) in excess of the interest rate otherwise payable under this Agreement with respect to the applicable Advances and Reimbursement Obligations (or, in the case of any such fees and other amounts, at a rate that is 2.00% per annum in excess of the interest rate otherwise payable under this Agreement for Base Rate Advances); provided that, in the case of Advances subject to a Fixed Rate, -------- upon the expiration of the Interest Period in effect at the time any such increase in interest rate is effective, such Advances subject to a Fixed Rate shall thereupon become Base Rate Advances and thereafter bear interest payable upon demand at a rate that is 2.00% per annum (calculated on an Actual/360 Basis) in excess of the interest rate otherwise payable under this Agreement for Base Rate Advances. The payment or acceptance of the increased rate provided by this Section 3.6 shall not constitute a waiver of any Event of Default or an amendment to this Agreement or otherwise prejudice or limit any rights or remedies of the Lender. Interest on all Advances and Reimbursement Obligations shall be calculated on an Actual/360 Basis.

Appears in 1 contract

Samples: Credit Agreement (Hibbett Sporting Goods Inc)

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Post-Maturity Interest. Upon and after the occurrence of any ---------------------- Event of Default, the outstanding principal amount of all Advances and Reimbursement Obligations Loans and, to the extent permitted by applicable law, any interest payments thereon not paid when due and any fees and other amounts then due and payable hereunder, shall thereafter bear interest (including post- post-petition interest in any proceeding under applicable bankruptcy laws) payable upon demand at a rate that is 2.00% per annum (calculated on an Actual/360 Basis) in excess of the interest rate otherwise payable under this Agreement with respect to the applicable Advances and Reimbursement Obligations Loans (or, in the case of any such fees and other amounts, at a rate that is 2.00% per annum in excess of the interest rate otherwise payable under this Agreement for Base Rate AdvancesAdvances bearing interest at the Quoted Cost of Funds Rate); provided that, in the case of Advances subject to a Fixed RateLIBOR Loans, -------- upon the expiration of the Interest Period in effect at the time any such increase in interest rate is effective, such Advances subject to a Fixed Rate LIBOR Loans shall thereupon become Base bear interest at the Quoted Cost of Funds Rate Advances and thereafter bear interest payable upon demand at a rate that is 2.00% per annum (calculated on an Actual/360 Basis) in excess of the interest rate otherwise payable under this Agreement for Base Rate AdvancesSegments bearing interest at the Quoted Cost of Funds Rate. The payment or acceptance of the increased rate provided by this Section 3.6 0 shall not constitute a waiver of any Event of Default or an amendment to this Agreement or otherwise prejudice or limit any rights or remedies of the Lender. Interest on all Advances and Reimbursement Obligations Loans shall be calculated on an Actual/360 Basis.

Appears in 1 contract

Samples: Credit Agreement (Morrison Fresh Cooking Inc /Ga)

Post-Maturity Interest. Upon and after the occurrence of any ---------------------- Event of Default, the outstanding principal amount of all Advances and Reimbursement Obligations and, to the extent permitted by applicable law, any interest payments thereon not paid when due and any fees and other amounts then due and payable hereunder, shall thereafter bear interest (including post- post-petition interest in any proceeding under applicable bankruptcy laws) payable upon demand at a rate that is 2.00% per annum (calculated on an Actual/360 Basis) in excess of the interest rate otherwise payable under this Agreement with respect to the applicable Advances and Reimbursement Obligations (or, in the case of any such fees and other amounts, at a rate that is 2.00% per annum in excess of the interest rate otherwise payable under this Agreement for Base Rate Advances); provided that, in the case of Advances subject to a Fixed Rate, -------- upon the expiration of the Interest Period in effect at the time any such increase in interest rate is effective, such Advances subject to a Fixed Rate shall thereupon become Base Rate Advances and thereafter bear interest payable upon demand at a rate that is 2.00% per annum (calculated on an Actual/360 Basis) in excess of the interest rate otherwise payable under this Agreement for Base Rate Advances. The payment or acceptance of the increased rate provided by this Section 3.6 shall not constitute a waiver of any Event of Default or an amendment to this Agreement or otherwise prejudice or limit any rights or remedies of the Lender. Interest on all Advances and Reimbursement Obligations shall be calculated on an Actual/360 Basis.this

Appears in 1 contract

Samples: Credit Agreement (Hibbett Sporting Goods Inc)

Post-Maturity Interest. Upon and after the occurrence of any ---------------------- Event of Default, the outstanding principal amount of all Advances and Reimbursement Obligations Loans and, to the extent permitted by applicable law, any interest payments thereon not paid when due and any fees and other amounts then due and payable hereunder, shall thereafter bear interest (including post- post-petition interest in any proceeding under applicable bankruptcy laws) payable upon demand at a rate that is 2.00% per annum (calculated on an Actual/360 Basis) in excess of the interest rate otherwise payable under this Agreement with respect to the applicable Advances and Reimbursement Obligations Loans (or, in the case of any such fees and other amounts, at a rate that is 2.00% per annum in excess of the interest rate otherwise payable under this Agreement for Base Rate AdvancesAdvances bearing interest at the Quoted Cost of Funds Rate); provided that, in the case of Advances subject to a Fixed RateLIBOR Loans, -------- upon the expiration of the Interest Period in effect at the time any such increase in interest rate is effective, such Advances subject to a Fixed Rate LIBOR Loans shall thereupon become Base bear interest at the Quoted Cost of Funds Rate Advances and thereafter bear interest payable upon demand at a rate that is 2.00% per annum (calculated on an Actual/360 Basis) in excess of the interest rate otherwise payable under this Agreement for Base Rate AdvancesSegments bearing interest at the Quoted Cost of Funds Rate. The payment or acceptance of the increased rate provided by this Section 3.6 3.5 shall not constitute a waiver of any Event of Default or an amendment to this Agreement or otherwise prejudice or limit any rights or remedies of the Lender. Interest on all Advances and Reimbursement Obligations Loans shall be calculated on an Actual/360 Basis.

Appears in 1 contract

Samples: Credit Agreement (Morrison Restaurants Inc /Ga)

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Post-Maturity Interest. Upon and after the occurrence of any ---------------------- Event of Default, the outstanding principal amount of all Advances and Reimbursement Obligations and, to the extent permitted by applicable law, any interest payments thereon not paid when due and any fees and other amounts then due and payable hereunder, shall thereafter bear interest (including post- post-petition interest in any proceeding under applicable bankruptcy laws) payable upon demand at a rate that is 2.00% per annum (calculated on an Actual/360 Basis) in excess of the interest rate otherwise payable under this Agreement with respect to the applicable Advances and Reimbursement Obligations (or, in the case of any such fees and other amounts, at a rate that is 2.00% per annum in excess of the interest rate otherwise payable under this Agreement for Base Rate AdvancesLoans); provided that, in the case of Advances subject to a Fixed -------- Rate, -------- upon the expiration of the Interest Period in effect at the time any such increase in interest rate is effective, such Advances subject to a Fixed Rate shall thereupon become Base Rate Advances Loans and thereafter bear interest payable upon demand at a rate that is 2.00% per annum (calculated on an Actual/360 Basis) in excess of the interest rate otherwise payable under this Agreement for Base Rate AdvancesLoans. The payment or acceptance of the increased rate provided by this Section 3.6 36 shall not constitute a waiver of any Event of Default or an amendment to this Agreement or otherwise prejudice or limit any rights or remedies of the Lender. Interest on all Advances and Reimbursement Obligations shall be calculated on an Actual/360 Basis.

Appears in 1 contract

Samples: Credit Agreement (Hibbett Sporting Goods Inc)

Post-Maturity Interest. Upon and after the occurrence and during the continuation of any ---------------------- an Event of Default, the outstanding interest rate payable by Company with respect to principal amount of all Advances and Reimbursement Obligations Loans and, to the extent permitted by applicable law, any interest payments thereon not paid when due and any fees and other amounts then due and payable hereunderdue, shall thereafter bear interest (including post- petition interest in any proceeding under applicable bankruptcy laws) payable upon demand at be increased, effective from and after the date of occurrence of such Event of Default, to a rate that is 2.00% two percent (2%) per annum (calculated on an Actual/360 Basis) in excess of the interest rate otherwise payable under this Agreement with respect to the applicable Advances and Reimbursement Obligations (or, in the case of any such fees and other amountsamounts due hereunder, at a rate that which is 2.00% per annum in excess of the interest rate otherwise payable under pursuant to subsection 2.2A of this Agreement for Base Rate AdvancesLoans); provided -------- that, in the case of Advances subject to a Fixed RateEurodollar Rate Loans, -------- upon the expiration of the Interest Period in effect at the time any such increase in interest rate is effective, such Advances subject to a Fixed Eurodollar Rate Loans shall thereupon become Base Rate Advances Loans and thereafter bear interest payable upon demand at a rate that which is 2.00% two percent (2%) per annum (calculated on an Actual/360 Basis) in excess of the interest rate otherwise payable under this Agreement for Base Rate AdvancesLoans. The rate provided in this subsection 2.2E shall be reduced by two percent (2%) per annum to the rate otherwise payable under this Agreement effective upon the cure pursuant to the terms of this Agreement of all Events of Default giving rise to the increase provided herein. No waiver of any Event of Default and no amendment to this Agreement shall operate as a cure of any Event of Default unless expressly stated in writing in such waiver or amendment. The payment or acceptance of the increased rate provided by this Section 3.6 subsection 2.2E shall not constitute a waiver of any Event of Default or an amendment to this Agreement or otherwise prejudice or limit any rights or remedies of the any Agent or any Lender. Interest on all Advances and Reimbursement Obligations shall be calculated on an Actual/360 Basis.

Appears in 1 contract

Samples: Credit Agreement (Borg Warner Security Corp)

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