Common use of Repayment of the Loans; Interest Clause in Contracts

Repayment of the Loans; Interest. (a) Subject to the provisions of Section 2.04, each Loan shall bear interest on the Principal Amount thereof at a rate per annum equal to LIBOR plus the Applicable Margin. Interest that accrues on the Loans during each Accrual Period shall be due and payable in arrears on the related Loan Payment Date (whether or not funds are available for such purpose in accordance with the Priority of Payments); provided that interest accruing pursuant to Section 2.05(c) shall be payable from time to time upon demand. (b) On the Maturity Date (whether or not funds are available for such purpose in accordance with the Priority of Payments), the Borrower shall repay to the Administrative Agent, for the account of the Lender, the Principal Amount, together with all interest accrued and unpaid thereon and all other amounts owing under this Loan Agreement and the other Loan Documents. (c) Upon the occurrence and during the continuance of any Event of Default, the Principal Amount shall bear interest at a rate per annum equal to the Default Rate, from the date of such Event of Default (after as well as before judgment). If any interest payable on any Loan or any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), then such overdue amount shall bear interest at a rate per annum equal to the Default Rate, in each case from the date of such non-payment until such amount is paid in full (after as well as before judgment).