Waiver of Default Interest. Subject to the terms and conditions set forth herein, and in reliance on the representations and warranties of the Borrower and Holdings, and each of their Subsidiaries, the Lenders waive the Borrower’s obligation to pay default interest pursuant to Section 2.10(c) on those portions of the Term Loans that were required to be repaid with proceeds of mandatory prepayments (as set forth above), but which were not repaid.
Waiver of Default Interest. Under Section 3.04 of the Credit Agreement, upon the occurrence and during the continuance of an Event of Default, the Borrower is obligated to pay, in addition to the interest then payable on any Loan, additional interest on the Loans at 2% per annum (such additional interest, the “Additional Interest”) until such Event of Default has been cured or waived. By signing below, (a) the parties agree that, notwithstanding the waivers of the Events of Default pursuant to paragraphs A and B above, interest on the Loans shall continue to accrue at the Default Rate and (b) each Lender waives, until June 30, 2013 the Borrower’s obligation to pay the Additional Interest.
Waiver of Default Interest. The Note provides that all past due -------------------------- payments of principal and interest are entitled to bear interest at the rate of 15% per annum from maturity until paid. Accordingly, the Borrower is obligated to pay the Lender interest at the default rate of 15% per annum commencing November 1,
Waiver of Default Interest. In consideration of the payments to be made pursuant to Section 2.16 of the Credit Agreement (as added by this Forbearance Agreement), the Banks waive their right to raise the interest rates applicable to the Notes to the Default Rate for the periods prior to the Effective Date and for the period from the Effective Date to the Termination Date. On the Termination Date, the principal of the Notes shall automatically bear interest at the Default Rate.
Waiver of Default Interest. 85 SCHEDULES:
Waiver of Default Interest. Upon the effectiveness of this Agreement, the Lenders shall be deemed to have waived all accrued and unpaid interest under the Existing Agreement which was in excess of the rates of interest set forth in Sections 2.15(a) and (b) thereof.
Waiver of Default Interest. Upon Closing and effective as of the Effective Date hereof, BOCO waives its right to enforce and collect default interest on the BOCO Notes for the period of time prior to the Effective Date hereof. This is a one-time waiver and shall not in any way affect or diminish BOCO’s rights to enforce and collect default interest relative to any event of default under the BOCO Notes or the Loan Documents after the Effective Date hereof.
Waiver of Default Interest. Notwithstanding any provision contained herein, Sentra waives payment by Karat Platinum of any Default Interest specified in the Notes with respect to each of the Notes.
Waiver of Default Interest. Provided no further default under the Loan Documents or a breach of this Agreement occurs and the Liabilities are paid in full on or before the Extension Date, Lender waives right to assess and collect default interest due to the defaults and failure to pay all sums when due on any prior Termination Date as defined in the Amended Loan Agreement.
Waiver of Default Interest. Provided no further default under the Loan Documents or a breach of this Agreement occurs and the Liabilities are paid in full on or before the Extension Date, Lender waives right to access and collect default interest due to the defaults and failure to pay all sums when due on the Termination Date and then January 23, 2002.
