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Default Interest
Default Interest contract clause examples
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Default Interest. Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration, by mandatory prepayment or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to # in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided above, # in the case of overdue interest on any principal of any Loan, 2% plus the rate otherwise applicable to such principal as provided above and # in the case of any other amount, 2% plus the rate applicable to ABR Loans as provided in paragraph # of this Section.

Default Interest. In the event any payment is not paid on the scheduled payment date (or within three (3) Business Days of the scheduled payment date, provided that such late payment is due solely to an administrative or operational error of Agent or the Lenders or Borrower’s bank if Borrower had the funds to make the payment when due), an amount equal to four percent (4%) of the past due amount shall be payable on demand; provided that no such amount shall be payable if such nonpayment is due to Lenders’ failure to initiate debit entries pursuant to the ACH Authorization. Upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section

Default Interest. Notwithstanding the above provisions, if a Specified Event of Default has occurred and is continuing and, in the case of an Event of Default under Section 8.01(a[[SunTrustTruist Bank:Organization]] when an Event of Default under Section 8.01(h[[SunTrustTruist Bank:Organization]] has not occurred, upon written notice by the Administrative Agent, the overdue principal amount of any Loans and, to the extent permitted by applicable law, all interest in respect of each Loan, shall thereafter bear interest (including post-petition interest in any proceeding under the Bankruptcy Code or other applicable Debtor Relief Law[[SunTrustTruist Bank:Organization]], payable on demand, at a rate per annum equal to the Default Rate.

Default Interest. In the event any payment is not paid on the scheduled payment date, other than due to a failure of any ACH debit due solely to an administrative or operational error of Agent or Lender or Borrower’s bank if Borrower had the funds to make the payment when due and makes the payment within three (3) Business Days following Borrower’s knowledge of such failure to pay, an amount equal to four percent (4%) of the past due amount shall be payable on demand at Agent’s election. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.2(c), plus four percent (4%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.2(c) or Section 2.4, as applicable.

Default Interest. If any amounts required to be paid by the Borrower under this Agreement or any other Financing Document (including principal or interest payable on any Loan, and any fees or other amounts payable to the Agents or any Lender) remain unpaid after such amounts are due, whether by acceleration or otherwise, the Borrower shall pay interest on the aggregate, outstanding balance of such overdue amount from the date due until the amounts are paid in full at a per annum rate equal to the Default Rate. Such Default Rate shall apply automatically without the need for any notice from the Administrative Agent or any Lender; provided that the foregoing shall not be intended to modify any other notice obligation hereunder including the notice provisions applicable to Events of Default.

Default Interest. Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or other amount payable by the Borrowers hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to # in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or # in the case of any other amount, 2% plus the rate applicable to ABR Loans as provided in paragraph # of this Section; provided, that in the case of any such failure to pay that also results in a Default under [clause (a) of Article VIII], such additional amounts provided in this clause (c) shall not accrue except at the election of the Administrative Agent or the Required Lenders.

Default Interest. Upon an Event of Default, the unpaid principal balance of the Loan shall accrue interest at the Default Rate so long as the Event of Default is continuing and until the earlier of # the date that the Event of Default is timely cured or waived by Lender or # the date that the Indebtedness is paid in full.

Default Interest. Notwithstanding the foregoing, if any Event of Default has occurred and is continuing and the Required Lenders have elected to increase pricing, the interest rates applicable to Loans and any fee or other amount payable by the Borrower hereunder shall bear interest, after as well as before judgment, at a rate per annum equal to # in the case of principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided above, # in the case of any Letter of Credit, 2% plus the fee otherwise applicable to such Letter of Credit as provided in [Section 2.11(b)(i), or (iii)])] in the case of any fee or other amount, 2% plus the rate applicable to ABR Loans as provided in paragraph # of this Section.

Default Interest. Notwithstanding the foregoing, if any Event of Default has occurred and is continuing and the Required Lenders have elected to increase pricing, the interest rates applicable to Loans and any fee or other amount payable by the Borrower hereunder shall bear interest, after as well as before judgment, at a rate per annum equal to # in the case of principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided above, # in the case of any Letter of Credit, 2% plus the fee otherwise applicable to such Letter of Credit as provided in [Section 2.11(b)(i), or (iii)])] in the case of any fee or other amount, 2% plus the rate applicable to ABR Loans as provided in paragraph # of this Section.

Default Interest. In the event any payment is not paid on the scheduled payment date (other than a failure to pay due solely to an administrative or operational error of Agent or the Lenders or Borrower’s bank if Borrower had the funds to make the payment when due and makes the payment within three (3) Business Days following Borrower’s knowledge of such failure to pay), an amount equal to five percent (5%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.2(c) plus five percent (5%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.2(c) or Section 2.4, as applicable.

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