Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 26 contracts
Sources: Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (P&f Industries Inc)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to the Administrative Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by the Administrative Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers Borrower be entitled to receive credit for any interest paid by a Secured Party to the Administrative Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by the Administrative Agent pursuant to Section 4.22.21.
Appears in 13 contracts
Sources: Credit Agreement (Tuesday Morning Corp/De), Credit Agreement (Tuesday Morning Corp/De), Credit Agreement (Tuesday Morning Corp/De)
Failure to Pay. If any Secured Party fails to pay deliver when due any amount when due payable by it to Agent pursuant to the terms hereofhereunder, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Base Rate Revolver Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 12 contracts
Sources: Loan and Security Agreement (Americas Carmart Inc), Loan, Security and Guarantee Agreement (National CineMedia, Inc.), Loan, Security and Guarantee Agreement (GEE Group Inc.)
Failure to Pay. If any Secured Party fails to pay deliver when due any amount when due payable by it to Agent pursuant to the terms hereofhereunder, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Base Rate Loans. In no event No Obligor shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, Agent nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 10 contracts
Sources: Loan, Guaranty and Security Agreement (BIG 5 SPORTING GOODS Corp), Loan and Security Agreement (Summit Midstream Partners, LP), Abl Loan and Security Agreement (Rocky Brands, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers Obligors be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 10 contracts
Sources: Loan and Security Agreement (Topgolf Callaway Brands Corp.), Loan and Security Agreement (Topgolf Callaway Brands Corp.), Loan Agreement (Topgolf Callaway Brands Corp.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for LIBOR Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 10 contracts
Sources: Financing Agreement (Select Interior Concepts, Inc.), Financing Agreement (Select Interior Concepts, Inc.), Financing Agreement (Select Interior Concepts, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Adjusted Base Rate Revolver Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 10 contracts
Sources: First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.), Loan and Security Agreement (American Vanguard Corp), Loan and Security Agreement (Bespoke Capital Acquisition Corp)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers Borrower be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 8 contracts
Sources: Loan and Security Agreement (Flat Rock Core Income Fund), Loan and Security Agreement (Ak Steel Holding Corp), Loan and Security Agreement (KCAP Financial, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to any Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by such Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to any Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by any Agent pursuant to Section 4.22.14(f).
Appears in 8 contracts
Sources: Credit Agreement (Novelis Inc.), Credit Agreement (Novelis Inc.), Credit Agreement (Novelis Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Base Rate Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 7 contracts
Sources: Loan and Security Agreement (Summer Infant, Inc.), Loan Agreement and Forbearance Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Base Rate Revolver Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 7 contracts
Sources: Loan and Security Agreement (U.S. Concrete, Inc.), Loan and Security Agreement (Us Concrete Inc), Loan and Security Agreement (Us Concrete Inc)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Base Rate Revolver Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 6 contracts
Sources: Loan and Security Agreement (DXP Enterprises Inc), Loan and Security Agreement (Conns Inc), Loan and Security Agreement (Northwest Pipe Co)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Floating Rate Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 6 contracts
Sources: Loan Agreement (Cooper-Standard Holdings Inc.), Loan Agreement (Cooper-Standard Holdings Inc.), Loan Agreement (Cooper-Standard Holdings Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers Loan Parties be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 5 contracts
Sources: Abl Credit Agreement (WillScot Mobile Mini Holdings Corp.), Abl Credit Agreement (WillScot Mobile Mini Holdings Corp.), Abl Credit Agreement (WillScot Mobile Mini Holdings Corp.)
Failure to Pay. If any Secured Party fails to pay deliver when due any amount when due payable by it to Agent pursuant to the terms hereofhereunder, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Prime Rate Loans. In no event No Obligor shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, Agent nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.22.4.
Appears in 5 contracts
Sources: Loan and Security Agreement (Rocky Brands, Inc.), Loan and Security Agreement (Rocky Brands, Inc.), Loan and Security Agreement (Rocky Brands, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid in full at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Base Rate Revolver Loans. In no event shall Borrowers any Obligor be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 4 contracts
Sources: Credit Agreement (Calumet Specialty Products Partners, L.P.), Credit Agreement (Calumet Specialty Products Partners, L.P.), Credit Agreement (Calumet Specialty Products Partners, L.P.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to the Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by the Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers Borrower be entitled to receive credit for any interest paid by a Secured Party to the Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by the Agent pursuant to Section 4.2.
Appears in 4 contracts
Sources: Credit and Guaranty Agreement (Milacron Holdings Corp.), Amendment No. 2 (Milacron Holdings Corp.), Amendment No. 1 (Milacron Holdings Corp.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Floating Revolver Loans. In no event shall Borrowers Obligors be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 4 contracts
Sources: Loan Agreement (Guess Inc), Loan Agreement (Guess Inc), Loan, Guaranty and Security Agreement (Guess Inc)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to the Administrative Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by the Administrative Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers Borrower be entitled to receive credit for any interest paid by a Secured Party to the Administrative Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by the Administrative Agent pursuant to Section 4.22.18.
Appears in 4 contracts
Sources: Senior Secured Super Priority Debtor in Possession Delayed Draw Term Loan Agreement (Tuesday Morning Corp/De), Debtor in Possession Delayed Draw Term Loan Agreement (Franchise Group, Inc.), Debtor in Possession Credit Agreement (Tuesday Morning Corp/De)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for U.S. Base Rate Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 4 contracts
Sources: Loan, Security and Guaranty Agreement (Hyster-Yale Materials Handling, Inc.), Loan Agreement (Hyster-Yale Materials Handling, Inc.), Loan Agreement (Hyster-Yale Materials Handling, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to the Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by the Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers Loan Parties be entitled to receive credit for any interest paid by a Secured Party to the Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by the Agent pursuant to Section 4.2.
Appears in 3 contracts
Sources: Abl Credit Agreement (Target Hospitality Corp.), Abl Credit Agreement (Target Hospitality Corp.), Abl Credit Agreement (Target Hospitality Corp.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate reasonably determined by Agent as customary in the banking industry for interbank compensationAgent. In no event shall Borrowers Obligors be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 3 contracts
Sources: Term Loan, Guaranty and Security Agreement, Term Loan, Guaranty and Security Agreement (Turtle Beach Corp), Term Loan, Guaranty and Security Agreement (Turtle Beach Corp)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to the Administrative Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by the Administrative Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers Borrower be entitled to receive credit for any interest paid by a Secured Party to the Administrative Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by the Administrative Agent pursuant to Section 4.22.22.
Appears in 3 contracts
Sources: Credit Agreement (Ollie's Bargain Outlet Holdings, Inc.), Credit Agreement (Ollie's Bargain Outlet Holdings, Inc.), Credit Agreement (Ollie's Bargain Outlet Holdings, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to the Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by the Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers Loan Parties be entitled to receive credit for any interest paid by a Secured Party to the Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 3 contracts
Sources: Loan, Security and Guarantee Agreement (MRC Global Inc.), Loan, Security and Guarantee Agreement (MRC Global Inc.), Loan, Security and Guarantee Agreement (South Texas Supply Company, Inc.)
Failure to Pay. If any Secured Party fails to pay deliver when due any amount when due payable by it to Agent pursuant to the terms hereofhereunder, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 3 contracts
Sources: Loan and Security Agreement (Super Micro Computer, Inc.), Loan and Security Agreement (Super Micro Computer, Inc.), Loan and Security Agreement (Super Micro Computer, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Base Rate FILO Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 3 contracts
Sources: Loan and Security Agreement (Summer Infant, Inc.), Loan and Security Agreement (Summer Infant, Inc.), Loan and Security Agreement (Summer Infant, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for U.S. Base Rate Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 3 contracts
Sources: Loan Agreement (Horizon Global Corp), Loan Agreement (Horizon Global Corp), Loan Agreement (Horizon Global Corp)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to the Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by the Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for U.S. Base Rate Loans. In no event shall Borrowers Loan Parties be entitled to receive credit for any interest paid by a Secured Party to the Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by the Agent pursuant to Section 4.2.
Appears in 2 contracts
Sources: Loan, Security and Guarantee Agreement (Kraton Performance Polymers, Inc.), Loan, Security and Guarantee Agreement (Kraton Performance Polymers, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Base Rate Revolver Loans. In no event shall Borrowers Obligors be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 2 contracts
Sources: Loan and Security Agreement (Advanced Micro Devices Inc), Loan and Security Agreement (Casella Waste Systems Inc)
Failure to Pay. If any Secured Party fails to pay deliver when due any amount payable when due by it to Agent pursuant to the terms hereofhereunder, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Floating Rate Loans. In no event shall Borrowers Obligors be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 2 contracts
Sources: Loan, Guaranty and Security Agreement (Turtle Beach Corp), Loan Agreement (Turtle Beach Corp)
Failure to Pay. If any Secured Party fails to pay deliver when due any amount when due payable by it to Agent pursuant to the terms hereofhereunder, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Effective Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Base Rate Revolver Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 2 contracts
Sources: Loan Agreement (Conns Inc), Loan Agreement (Conns Inc)
Failure to Pay. If any Secured Party fails to pay deliver when due any amount when due payable by it to Agent pursuant to the terms hereofhereunder, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Base Rate Revolver Loans. In no event shall Borrowers Borrower be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 2 contracts
Sources: Loan, Security and Guarantee Agreement (Fitlife Brands, Inc.), Loan and Security Agreement (Vizio Holding Corp.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts amount held by Agent pursuant to Section 4.2.
Appears in 2 contracts
Sources: Loan and Security Agreement (Conns Inc), Loan and Security Agreement (Conns Inc)
Failure to Pay. If any Secured Party fails to pay deliver when due any amount when due payable by it to Agent pursuant to the terms hereofhereunder, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Floating Rate Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 2 contracts
Sources: Loan and Security Agreement (Hydrofarm Holdings Group, Inc.), Loan and Security Agreement (Amkor Technology, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Base Rate Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 2 contracts
Sources: Loan and Security Agreement (Arctic Cat Inc), Loan and Security Agreement (Arctic Cat Inc)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two (2) Business Days and thereafter at the Default Rate for Prime Rate Loans. In no event shall Borrowers Borrower be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 2 contracts
Sources: Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc)
Failure to Pay. If any Secured Party fails to pay deliver when due any amount when due payable by it to Agent pursuant to the terms hereofhereunder, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Revolver Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 2 contracts
Sources: Loan and Security Agreement (NewLake Capital Partners, Inc.), Loan, Security and Guarantee Agreement (AutoWeb, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Floating Rate Loans. In no event shall Borrowers Obligors be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 2 contracts
Sources: Loan, Guaranty and Security Agreement (Parametric Sound Corp), Loan, Guaranty and Security Agreement (Parametric Sound Corp)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 1 contract
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Administrative Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by Administrative Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Administrative Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Administrative Agent pursuant to Section 4.2.
Appears in 1 contract
Sources: Loan and Security Agreement (Spectrum Brands, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for U.S. Base Rate Loans. In no event shall Borrowers Obligors be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 1 contract
Sources: Loan, Security and Guaranty Agreement (Willbros Group, Inc.\NEW\)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Term Loans that bear interest at the Base Rate. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 1 contract
Sources: Term Loan and Security Agreement (Summer Infant, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by Agent as customary in the banking industry for interbank compensation. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 1 contract
Failure to Pay. If any Secured Party fails to pay deliver when due any amount when due payable by it to Agent pursuant to the terms hereofhereunder, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Prime Rate Loans. In no event shall Borrowers Obligors be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 1 contract
Failure to Pay. If any Secured Party fails to pay deliver when due any amount when due payable by it to Agent pursuant to the terms hereofhereunder, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate. In no event shall Borrowers Borrower be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 1 contract
Sources: Senior Credit Agreement (Hornbeck Offshore Services Inc /La)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Adjusted Base Rate Loans. In no event shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 1 contract
Sources: Loan and Security Agreement (Habit Restaurants, Inc.)
Failure to Pay. If any Secured Party fails to pay deliver when due any amount when due payable by it to Agent pursuant to the terms hereofhereunder, such amount shall bear interest interest, from the due date until paid in full, at the greater of the Federal Funds Rate or the rate determined by Agent as customary in the banking industry for interbank compensationcompensation for two Business Days and thereafter at the Default Rate for Base Rate Revolver Loans. In no event No Obligor shall Borrowers be entitled to receive credit for any interest paid by a Secured Party to Agent, Agent nor shall any a Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2.
Appears in 1 contract
Sources: Abl Loan and Security Agreement (Rocky Brands, Inc.)
Failure to Pay. If any Secured Party fails to pay any amount when due by it to the Agent pursuant to the terms hereof, such amount shall bear interest interest, from the due date until paid in full, at the rate determined by the Agent as customary in the banking industry for interbank compensationcompensation for two (2) Business Days and thereafter at the Default Rate for U.S. Base Rate Loans. In no event shall Borrowers Loan Parties be entitled to receive credit for any interest paid by a Secured Party to the Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by the Agent pursuant to Section 4.2.
Appears in 1 contract
Sources: Loan, Security and Guarantee Agreement (Edgen Group Inc.)