Common use of Before and After Judgment Interest Clause in Contracts

Before and After Judgment Interest. Notwithstanding the foregoing, if an Event of Default shall have occurred and be continuing, the Loans shall bear interest, after as well as before judgment: (a) subject to Section 2.5(2)(b), at a rate per annum equal to ●% plus the rate otherwise applicable to such Loan or, in the case of any amount not constituting principal or interest on a Loan, at a rate equal to ●% plus the rate otherwise applicable to, in the case of Canadian Dollar amounts, Canadian Prime Loans, or in the case of U.S. Dollar amounts, Base Rate Loans; (b) if (i) a Security Document creates a mortgage on real property or a hypothec on immovables, or (ii) the rate provided for in Section 2.5(2)(a) is otherwise determined to be unenforceable, then, in either case, at a rate per annum equal to the rate otherwise applicable to such Loan or, in the case of any amount not constituting principal or interest on a Loan, at a rate equal to the rate otherwise applicable to, in the case of Canadian Dollar amounts, Canadian Prime Loans, or in the case of U.S. Dollar amounts, Base Rate Loans; provided that, without limiting the effect of Section 2.5(2)(b)(ii), nothing in Section 2.5(2)(b)(ii) shall preclude the operation of Section 2.5(2) where: (c) a Security Document that creates a mortgage on real property or a hypothec on immovables also creates a Lien on other property and assets; or (d) the principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder is also secured by a Lien other than a mortgage on real property or a hypothec on immovables.

Before and After Judgment Interest. Notwithstanding the foregoing, if an Event of Default shall have occurred and be continuingcontinuing and the Required Lenders have passed a resolution initiating the default rate, the Loans shall bear interest, after as well as before judgment: (a) subject to Section 2.5(2)(b), 2.5(3)(b) at a rate per annum equal to ●2% plus the rate otherwise applicable to such Loan or, in the case of any amount not constituting principal or interest on a Loan, at a rate equal to ●2% plus the rate otherwise applicable to, in the case of Canadian Dollar amounts, Canadian Prime Loans, or in the case of U.S. Dollar amounts, Base Rate Loans; (b) if (i) a Security Document creates a mortgage on real property or a hypothec on immovables, or (ii) the rate provided for in Section 2.5(2)(a2.5(3)(a) is otherwise determined to be unenforceable, then, in either case, at a rate per annum equal to the rate otherwise applicable to such Loan or, in the case of any amount not constituting principal or interest on a Loan, at a rate equal to the rate otherwise applicable to, in the case of Canadian Dollar amounts, Canadian Prime Loans, or in the case of U.S. Dollar amounts, Base Rate Loans; provided that, without limiting the effect of Section 2.5(2)(b)(ii2.5(3)(b)(ii), nothing in Section 2.5(2)(b)(ii2.5(3)(b)(ii) shall preclude the operation of Section 2.5(22.5(3) where: (c) a Security Document that creates a mortgage on real property or a hypothec on immovables also creates a Lien on other property and assets; or (d) the principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder is also secured by a Lien other than a mortgage on real property or a hypothec on immovablesimmovable. For the avoidance of doubt, if the Required Lenders do not pass a resolution initiating the default rate, the Loans shall continue to bear interest at the rates set out in Section 2.5(1).

Before and After Judgment Interest. Notwithstanding the foregoing, if an Event of Default shall have occurred and be continuingcontinuing and the Required Lenders have passed a resolution initiating the default rate, the Loans shall bear interest, after as well as before judgment: (a) subject to Section 2.5(2)(b), 2.5(3)(b) at a rate per annum equal to ●2% plus the rate otherwise applicable to such Loan or, in the case of any amount not constituting principal or interest on a Loan, at a rate equal to ●2% plus the rate otherwise applicable to, in the case of Canadian Dollar amounts, Canadian Prime Loans, or in the case of U.S. Dollar amounts, Base Rate Loans; (b) if (i) a Security Document creates a mortgage on real property or a hypothec on immovables, or (ii) the rate provided for in Section 2.5(2)(a2.5(3)(a) is otherwise determined to be unenforceable, then, in either case, at a rate per annum equal to the rate otherwise applicable to such Loan or, in the case of any amount not constituting principal or interest on a Loan, at a rate equal to the rate otherwise applicable to, in the case of Canadian Dollar amounts22725645.15 SSRI Credit Agreement ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, Canadian ▇▇▇▇▇▇▇▇ Prime Loans, or in the case of U.S. Dollar amounts, Base Rate Loans; provided that, without limiting the effect of Section 2.5(2)(b)(ii2.5(3)(b)(ii), nothing in Section 2.5(2)(b)(ii2.5(3)(b)(ii) shall preclude the operation of Section 2.5(22.5(3) where: (c) a Security Document that creates a mortgage on real property or a hypothec on immovables also creates a Lien on other property and assets; or (d) the principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder is also secured by a Lien other than a mortgage on real property or a hypothec on immovablesimmovable. For the avoidance of doubt, if the Required Lenders do not pass a resolution initiating the default rate, the Loans shall continue to bear interest at the rates set out in Section 2.5(1).