Common use of Amounts Not Overdue Clause in Contracts

Amounts Not Overdue. During the continuance of a Default or an Event of Default, the principal of the Loans not overdue shall, until such Default or Event of Default has been cured or remedied or such Default or Event of Default has been waived by the Required Banks pursuant to Section 24, bear interest at a rate per annum equal to four percent (4%) above the rate of interest otherwise applicable to such Loans pursuant to Section 2.4. Any installment or payment due hereunder which shall be received by the Agent more than ten (10) days after its due date shall be subject to an additional charge of five percent (5%) per annum on the amount so overdue (but in no event higher than the maximum allowed by applicable law).

Amounts Not Overdue. During the continuance of a Default or an Event of Default, the principal of the Loans not overdue shall, until such Default or Event of Default has been cured or remedied or such Default or Event of Default has been waived by the Required Banks pursuant to Section 24, bear interest at a rate per annum equal to four percent (4%) above the rate of interest otherwise applicable to such Loans pursuant to Section 2.4. Any installment or payment due hereunder which shall be received by the Agent more than ten (10) days after its due date shall be subject to an additional charge of five percent (5%) per annum on the amount so overdue (but in no not event higher than the maximum allowed by applicable law).