Default Rate Interest. Upon the occurrence and during the continuance of an Event of Default, and at the sole option of Lender and without need for notice to the Borrowers, the entire unpaid amount outstanding hereunder and under the Notes will bear interest at the Default Rate.
Appears in 16 contracts
Sources: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)
Default Rate Interest. Upon the occurrence and during the continuance of an Event of Default, and at the sole option of Lender and without need for notice to the Borrowers, the entire unpaid amount outstanding hereunder and under the Notes Note will bear interest at the Default Rate.
Appears in 3 contracts
Sources: Loan Agreement, Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)
Default Rate Interest. Upon the occurrence and during the continuance of an Event of Default, and at the sole option of Lender and without need for notice to the BorrowersBorrower, the entire unpaid amount outstanding hereunder and under the Notes Note will bear interest at the Default Rate.
Appears in 2 contracts
Sources: Loan Agreement (Ashford Hospitality Trust Inc), Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)