Example ContractsClausesbuyer defaultVariants
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Default Rate. If any Event of Default occurs and is continuing, then upon the election of the Agent (at the direction of the Required Lenders), while any such Event of Default is outstanding, # all of the Obligations (other than Bank Product Obligations and undrawn Letters of Credit) that have been charged to the Loan Account shall bear interest at the Default Rate applicable thereto and # the Letter of Credit Fee shall increase to the Default Rate.

Default Rate. If anyUpon the occurrence and during the continuance of an Event of Default occurs and is continuing, then upon the election of the Agent (at the direction of the Required Lenders), while any such Event of Default is outstanding,Default, # all of the Obligations (other than Bank Product Obligations and undrawn Letters of Credit) that have been charged to the Loan AccountLoans then outstanding shall bear interest at a rate equal to the Default Raterate otherwise applicable theretoto such Loan plus 2.0 percentage points, and # the Letter of Credit Fee shall increasebe increased to 2.0 percentage points above the Default Rate.per annum rate otherwise applicable thereunder. All amounts payable under this [Section 2.4] shall be due and payable on demand by Agent.

Default Rate. If(i) Automatically upon the occurrence and during the continuation of an Event of Default under [[Section 8.4 or 8.5]5]]5] and # upon the occurrence and during the continuation of any Event of Default occurs and is continuing, then uponunder [[Section 8.1 or 8.2(a)(i)])]])] (solely with respect to the failure to comply with [Section 7] if applicable), at the election of the Required Lenders (or the Agent (atat the direction of the Required Lenders), whileand upon written notice by Agent to Borrowers of such direction (provided, that such notice shall not be required for any such Event of Default is outstanding,under [Section 8.1]), (solely with respect to principal, interest or recurring fees)) # all of theLoans and all Obligations (other than Bank Product Obligations and(except for undrawn Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to two percentage points above the Default Rateper annum rate otherwise applicable theretothereunder, and # the Letter of Credit Fee shall increasebe increased to two percentage points above the Default Rate.per annum rate otherwise applicable hereunder.

Default Rate. IfUpon the request of the Required Lenders, while any Event of Default occurs and is continuing, then upon the electionexists (including a payment default), all outstanding Obligations (including Letter of the Agent (at the direction of the Required Lenders), while any such Event of Default is outstanding, #Credit Fees) may accrue at a fluctuating interest rate per annum at all of the Obligations (other than Bank Product Obligations and undrawn Letters of Credit) that have been chargedtimes equal to the Loan Account shall bear interest at the Default Rate applicable thereto and # the Letter of Credit Fee shall increase to the Default Rate.fullest extent permitted by Applicable Laws.

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