Common use of Prior to Default Clause in Contracts

Prior to Default. Except as otherwise provided in Section 3.1(b) and 3.1(c), (i) each Competitive Bid Loan shall bear interest at the applicable Competitive Bid Rate therefor, and (ii) Revolving Credit Loans and Swing Line Loans shall bear interest on the outstanding principal balance thereof at the applicable interest rate or rates per annum set forth below: ADVANCES RATE Each ABR Advance Alternate Base Rate. Each Eurodollar Advance Eurodollar Rate for the applicable Interest Period plus the Applicable Margin applicable to Eurodollar Advances. Each Swing Line Loan Negotiated Rate applicable to such Swing Line Loan for the applicable Interest Period.

Prior to Default. Except as otherwise provided in Section 3.1(b) and 3.1(c), (i) each Competitive Bid Loan shall bear interest at the applicable Competitive Bid Rate therefor, and (ii) Revolving Credit Loans and Swing Line Loans shall bear interest on the outstanding principal balance thereof at the applicable interest rate or rates per annum set forth below: ADVANCES RATE Each ABR Advance Alternate Base RateRate plus the Applicable Margin applicable to ABR Advances. Each Eurodollar Advance Eurodollar Rate for the applicable Interest Period plus the Applicable Margin applicable to Eurodollar Advances. Each Swing Line Loan Negotiated Rate applicable to such Swing Line Loan for the applicable Interest Period.