Common use of Default Rate of Interest Clause in Contracts

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 26 contracts

Sources: Loan Agreement (Navios Maritime Containers Inc.), Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 6.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.36.3(b).

Appears in 24 contracts

Sources: Loan Agreement (Box Ships Inc.), Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Quintana Shipping Ltd.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. 2.00 percent above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 22 contracts

Sources: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 2.50 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.37.3(b); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 20 contracts

Sources: Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 20 contracts

Sources: Supplemental Agreement (Navios Maritime Containers Inc.), Facility Agreement (Navios Maritime Containers Inc.), Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.37.3(b); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 19 contracts

Sources: Loan Agreement, Amending and Restating Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Diana Shipping Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 7 contracts

Sources: Amending and Restating Deed (Global Ship Lease, Inc.), Loan Agreement (Diana Shipping Inc.), Second Amending and Restating Deed (Global Ship Lease, Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Facility Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 6 contracts

Sources: Loan Agreement (Capital Product Partners L.P.), Loan Agreement, Loan Agreement (Capital Product Partners L.P.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs Clauses 7.3 (a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 5 contracts

Sources: Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Britannia Bulk Holdings Inc)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.36.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.36.3.

Appears in 4 contracts

Sources: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (NewLead Holdings Ltd.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 2.5 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.36.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.36.3.

Appears in 4 contracts

Sources: Loan Agreement, Loan Agreement (Capital Product Partners L.P.), Loan Agreement (Danaos Corp)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph Clause 7.3(b) (b) Calculation of Clause 7.3default rate of interest).

Appears in 3 contracts

Sources: Term Loan Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 per cent. , above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 6.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.36.3(b).

Appears in 3 contracts

Sources: Loan Agreement (Box Ships Inc.), Loan Agreement (Star Bulk Carriers Corp.), Loan Agreement (StealthGas Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 6.3(a) and (b) of Clause 7.36.3(b); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.36.3(b).

Appears in 2 contracts

Sources: Loan Agreement (Scorpio Bulkers Inc.), Loan Agreement (Diana Shipping Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 1.5 per cent. abovecent plus: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.38.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.38.3.

Appears in 2 contracts

Sources: Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 2.00 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates rate set out at paragraphs paragraph (a) and (b) of Clause 7.37.3 (Calculation of default rate of interest); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3 (Calculation of default rate of interest).

Appears in 2 contracts

Sources: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 1 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 2 contracts

Sources: Loan Agreement (Euronav NV), Loan Agreement (Euronav NV)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 1.5 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 2 contracts

Sources: Amending and Restating Agreement (TBS International PLC), Amending and Restating Agreement (TBS International PLC)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 4 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs paragraph (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 2 contracts

Sources: Amending and Restating Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Acquisition CORP)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. , above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 2 contracts

Sources: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. percent above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 2 contracts

Sources: Loan Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 two per cent. (2%) above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 2 contracts

Sources: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 1.125 per cent. cent above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.36.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.36.3.

Appears in 1 contract

Sources: Loan Agreement (Tsakos Energy Navigation LTD)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 2.5 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.37.3(b); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (Britannia Bulk Holdings Inc)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Facility Agent to be 2 two point five zero per cent. cent (2.50%) above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, either the rate set out at paragraph (ba) of Clause 7.3.7.3 (

Appears in 1 contract

Sources: Loan Agreement (Costamare Bulkers Holdings LTD)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 1 per cent. abovecent plus: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 1 contract

Sources: Loan Agreement (Tsakos Energy Navigation LTD)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3 (Calculation of default rate of interest).

Appears in 1 contract

Sources: Loan Agreement (Paragon Shipping Inc.)

Default Rate of Interest. Interest interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.37.3(b); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (Star Bulk Management Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. abovecent.above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 1 contract

Sources: Amending and Restating Agreement

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 two per cent. (2%) above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.Clause

Appears in 1 contract

Sources: Loan Agreement (Alma Maritime LTD)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 2.0 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.37.3(b); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (Product Shipping Ltd.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 per cent. , above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 5.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.35,3(b).

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 1.35 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date such amount becomes due until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 1 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.37.3(b); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (Seacastle Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 2.00 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and 7.3(b) (b) Calculation of Clause 7.3Default rate of interest); or (b) in the case of any other overdue amount, the rate set out at paragraph Clause 7.3(b) (b) Calculation of Clause 7.3.Default rate of interest). 7.3(b)

Appears in 1 contract

Sources: Loan Agreement (Navios Maritime Acquisition Corp)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. abovecent plus: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 1 contract

Sources: Loan Agreement (Tsakos Energy Navigation LTD)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 1 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 6.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.36.3(b).

Appears in 1 contract

Sources: Loan Agreement (Diana Shipping Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (Tsakos Energy Navigation LTD)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 two per cent. (2%) above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.36.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.36.3.

Appears in 1 contract

Sources: Loan Agreement (Omega Navigation Enterprises, Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 2.0 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date on which that amount became due until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 6.3(a) and (b) of Clause 7.36.3(b); or (b) in the case of any other overdue amount, the rate set out at paragraph (bClause 6.3(b) of Clause 7.3.

Appears in 1 contract

Sources: Loan Agreement (Diana Shipping Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. 2.00 percent above: (a) in the case of an overdue amount of principal, the higher of the rates rate set out at paragraphs (a) and (b) of Clause 7.3Clauses 7.3(a); oror 49 β€Œ SK 26945 0003 10902825 v6 (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (Dorian LPG Ltd.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. 2.00 percent above: (a) in the case of an overdue amount of principal, the higher of the rates rate set out at paragraphs (a) and (b) of Clause 7.3Clauses 7.3(a); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (Dorian LPG Ltd.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. , above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. two percent (2%) above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Credit Agreement (Scorpio Bulkers Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date such amount becomes due until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.37.3(b); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Amending and Restating Agreement (Seacastle Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, above the rate set out at paragraph (b) of in Clause 7.38.3.

Appears in 1 contract

Sources: Guarantee Facility Agreement (Euronav NV)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (a) in the case of an overdue amount of principal, either the higher of the rates rate set out at paragraphs Clause 7.3(a) (aduring any unexpired part of any current Interest Period applicable to that overdue amount immediately prior to the relevant date) and or the rate set out at Clause 7.3(b) (b) of Clause 7.3in all other cases); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (Costamare Partners LP)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. above: (ac) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (bd) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (Scorpio Tankers Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 5.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.35.3(b).

Appears in 1 contract

Sources: Fourth Amending and Restating Agreement (DryShips Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 1.5 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (TBS International LTD)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 4.00 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.37.3(b); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (Navios Maritime Acquisition CORP)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 1.0 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.36.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.36.3.

Appears in 1 contract

Sources: Loan Agreement (Danaos Corp)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 1 contract

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 1 per cent. , above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 6.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.36.3(b).

Appears in 1 contract

Sources: Loan Agreement (Gala Properties Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 per cent. cent above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 6.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.36.3(b).

Appears in 1 contract

Sources: Amending and Restating Agreement (DryShips Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. , above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.37.3(b); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Loan Agreement (Global Ship Lease, Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 per cent. cent above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.36.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.36.3.

Appears in 1 contract

Sources: Loan Agreement (Tsakos Energy Navigation LTD)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Paying Agent to be 2 1 per cent. abovecent plus: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.38.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.38.3.

Appears in 1 contract

Sources: Loan Agreement (Tsakos Energy Navigation LTD)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 2.50 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.3.

Appears in 1 contract

Sources: Deed of Amendment and Restatement (Capital Product Partners L.P.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date as set forth in Clause 7.1 until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent to be 2 per cent. 2.00 percent above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (aClauses 7.3(a) and (b) of Clause 7.3); or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.37.3(b).

Appears in 1 contract

Sources: Second Lien Loan Agreement (Eagle Bulk Shipping Inc.)

Default Rate of Interest. Interest shall accrue on an overdue amount from (and including) the relevant date until the date of actual payment (as well after as before judgment) at the rate per annum determined by the Agent Lender to be 2 per cent. above: (a) in the case of an overdue amount of principal, the higher of the rates set out at paragraphs (a) and (b) of Clause 7.39.3; or (b) in the case of any other overdue amount, the rate set out at paragraph (b) of Clause 7.39.3.

Appears in 1 contract

Sources: Amendment Agreement (Aegean Marine Petroleum Network Inc.)