Common use of Rate after Maturity Clause in Contracts

Rate after Maturity. Any Advance not paid at maturity, whether by acceleration or otherwise, and any other amount not paid when due hereunder shall bear interest until paid in full at a rate per annum equal to the Alternate Base Rate plus two percent (2.0%) per annum; provided, however, that such interest rate after maturity shall in no event be less than the interest rate that was in effect with respect to such Advance prior to maturity.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Source One Mortgage Services Corp), Revolving Credit Agreement (Source One Mortgage Services Corp), Revolving Credit Agreement (Source One Mortgage Services Corp)

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Rate after Maturity. Any Advance which is not paid at maturitymaturity for such Advance, whether by acceleration or otherwise, and any other amount not paid when due hereunder shall bear interest until paid in full at a rate per annum equal to the Alternate Base Rate plus two percent (2.0%) per annum; provided, however, that such interest rate after maturity shall in no event be less than the interest rate that was in effect with respect to such Advance prior to maturityDefault Rate.

Appears in 3 contracts

Samples: Credit Agreement (Lennar Corp /New/), Credit Agreement (Lennar Corp /New/), Credit Agreement (Lennar Corp /New/)

Rate after Maturity. Any Except as provided in the next ___________________ sentence, any Advance not paid at maturity, whether by acceleration or otherwise, and any other amount not paid when due hereunder shall bear interest until paid in full at a rate per annum equal to the Alternate Base Rate plus two percent (2.0%) 1% per annum; provided. In the case of a Fixed Rate Advance the maturity of which is accelerated, howeversuch Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period, that such interest at the higher of (a) the rate after maturity shall in no event be less than the interest rate that was in effect with respect otherwise applicable to such Advance prior to maturityInterest Period plus 1% per annum, or (b) the Base Rate plus 1% per annum.

Appears in 2 contracts

Samples: Credit Agreement (Nike Inc), Credit Agreement (Nike Inc)

Rate after Maturity. Any Except as provided in the next sentence, any Advance not paid at maturity, whether by acceleration or otherwise, and any other amount not paid when due hereunder shall bear interest until paid in full at a rate per annum equal to the Alternate Base Rate plus two percent (2.0%) 2% per annum; provided. In the case of a Fixed Rate Advance the maturity of which is accelerated, howeversuch Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period, that such interest at the higher of the rate after maturity shall in no event be less than the interest rate that was in effect with respect otherwise applicable to such Advance prior to maturityInterest Period plus 2% per annum or the Alternate Base Rate plus 2% per annum.

Appears in 1 contract

Samples: Credit Agreement (Brown Forman Corp)

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Rate after Maturity. Any Except as provided in the next sentence, any Advance not paid at maturity, whether by acceleration or otherwise, and any other amount not paid when due hereunder shall bear interest until paid in full at a rate per annum equal to the Alternate Base Rate plus two percent (2.0%) 1% per annum; provided. In the case of a Fixed Rate Advance the maturity of which is accelerated, howeversuch Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period, that such interest at the higher of the rate after maturity shall in no event be less than the interest rate that was in effect with respect otherwise applicable to such Advance prior to maturityInterest Period plus 1% per annum or the Alternate Base Rate plus 1% per annum.

Appears in 1 contract

Samples: Credit Agreement (Nike Inc)

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