Common use of Rates Applicable After Event of Default Clause in Contracts

Rates Applicable After Event of Default. During the continuance of an Event of Default the Required Lenders may, at their option, by notice to the Company, declare that (a) the Loans shall bear interest at a rate per annum equal to the interest rate which would otherwise be in effect from time to time pursuant to Section 6.1.1, plus 2% per annum (each, a “Default Rate”), and (b) the LC Fee shall be increased by 2% per annum, provided that, during the continuance of an Event of Default under Section 14.1.8, the interest rate set forth in clause (a) above and the increase in the LC Fee set forth in clause (b) above shall automatically be applicable to all Loans, Letters of Credit, and Credit Extensions without any election or action on the part of the Agent or any Lender. After an Event of Default has been cured or waived, the interest rate applicable to the Loans and the LC Fee shall revert to the rates applicable prior to the occurrence of an Event of Default.

Rates Applicable After Event of Default. During the continuance of an Event of Default the Required Lenders may, at their option, by notice to the Company, declare that (a) the Loans shall bear interest at a rate per annum equal to the interest rate which would otherwise be in effect from time to time pursuant to Section 6.1.1, plus 23% per annum (each, a “Default Rate”), and (b) the LC Fee shall be increased by 23% per annum, provided that, during the continuance of an Event of Default under Section 14.1.8, the interest rate set forth in clause (a) above and the increase in the LC Fee set forth in clause (b) above shall automatically be applicable to all Loans, Letters of Credit, and Credit Extensions without any election or action on the part of the Agent or any Lender. After an Event of Default has been cured or waived, the interest rate applicable to the Loans and the LC Fee shall revert to the rates applicable prior to the occurrence of an Event of Default.

Rates Applicable After Event of Default. During the continuance of an Event of Default the Required Lenders may, at their option, by notice to the CompanyBorrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.3 requiring unanimous consent of the Lenders to changes in interest rates), declare that (ai) the Loans each Advance shall bear interest at a the rate per annum equal otherwise applicable to the interest rate which would otherwise be in effect from time to time pursuant to Section 6.1.1, such Advance plus 2% per annum (each, a “Default Rate”)annum, and (bii) the LC Fee shall be increased by 2% per annum, provided that, during the continuance of an a Event of Default under Section 14.1.87.6 or 7.7, the interest rate rates set forth in clause (ai) above and the increase in the LC Fee set forth in clause (bii) above shall automatically be applicable to all Loans, Letters of Credit, and Credit Extensions without any election or action on the part of the Administrative Agent or any Lender. After an Event of Default has been cured or waived, the interest rate applicable to the Loans advances and the LC Fee shall revert to the rates applicable prior to the occurrence of an Event of Default.

Rates Applicable After Event of Default. During the continuance of an Event of Default the Required Lenders may, at their option, by notice to the Company, declare that (a) the Loans shall bear interest at a rate per annum equal to the interest rate which would otherwise be in effect from time to time pursuant to Section 6.1.15.1.1, plus 23% per annum (each, a “Default Rate”), and (b) the LC Fee shall be increased by 23% per annum, provided that, during the continuance of an Event of Default under Section 14.1.813.1.8, the interest rate set forth in clause (a) above and the increase in the LC Fee set forth in clause (b) above shall automatically be applicable to all Loans, Letters of Credit, and Credit Extensions without any election or action on the part of the Agent or any Lender. After an Event of Default has been cured or waived, the interest rate applicable to the Loans and the LC Fee shall revert to the rates applicable prior to the occurrence of an Event of Default.