Common use of Interest and Default Rate Clause in Contracts

Interest and Default Rate. (a) Subject to the provisions of subsection (b) below, (i) each Term SOFR Loan under a Facility shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Term SOFR for such Interest Period plus the Applicable Rate; (ii) each Base Rate Loan under a Facility shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each Swingline Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate. (i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. (ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. (iii) Upon the written notice of the Administrative Agent (acting upon the written request of the Required Lenders) to the Borrower, while any Event of Default exists (other than as set forth in clauses (b)(i) and (b)(ii) above), the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.

Interest and Default Rate. (a) Subject to the provisions of subsection (b) below, (i) each Term SOFR Loan under a Facility shall bear interest on the outstanding principal amount thereof for each Interest Period from the applicable Borrowing date at a rate per annum equal to the Term SOFR for such Interest Period plus the Applicable RateRate for such Facility; (ii) each Base Rate Loan under a Facility shall bear interest on the outstanding principal amount thereof from the applicable borrowing Borrowing date at a rate per annum equal to the Base Rate plus the Applicable RateRate for such Facility; and (iii) each Swingline Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing Borrowing date at a rate per annum equal to the Base Rate plus the Applicable RateRate for the Revolving Facility. (i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. (ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. (iii) Upon the written notice of the Administrative Agent (acting upon the written request of the Required Lenders) to the Borrower, while any Event of Default exists has occurred and is continuing (other than as set forth in clauses (b)(i) and (b)(ii) above), the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.

Interest and Default Rate. (a) Subject to the provisions of subsection (b) belowSection 2.06(b), (i) each Term SOFR Eurodollar Rate Loan under a Facility shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Term SOFR Eurodollar Rate for such Interest Period plus the Applicable Rate; (ii) each Base LIBOR Daily Rate Loan under a Facility shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base LIBOR Daily Floating Rate plus the Applicable Rate; and (iii) each Swingline Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate. (i) If any amount of principal of any Loan is not paid when due (without regard after giving effect to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable applicable Laws. (ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard after giving effect to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, Lender such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable applicable Laws. (iii) Upon the written notice of the Administrative Agent (acting upon the written request of the Required Lenders) to the BorrowerLender, while any other Event of Default exists (other than as set forth in clauses (b)(i) and (b)(ii) above)exists, the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder may accrue at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable applicable Laws. (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.

Interest and Default Rate. (a) Subject to the provisions of subsection (b) below, (i) each Term SOFR Eurocurrency Rate Loan under a Facility shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Term SOFR Eurocurrency Rate for such Interest Period plus the Applicable Rate; Rate and (ii) each Base Rate Loan under a Facility shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each Swingline Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate. (i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable applicable Laws. (ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable applicable Laws. (iii) Upon the written notice of the Administrative Agent (acting upon the written request of the Required Lenders) to the Borrower, while any Event of Default exists (other than as set forth in clauses (b)(i) and (b)(ii) aboveincluding a payment default), the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder (including L/C Fees) may accrue at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable applicable Laws. (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. (d) For the purposes of the Interest Act (Canada), (i) whenever a rate of interest or fee rate hereunder is calculated on the basis of a year (the “deemed year”) that contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest or fee rate shall be expressed as a yearly rate by multiplying such rate of interest or fee rate by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year, (ii) the principle of deemed - 45 - reinvestment of interest shall not apply to any interest calculation hereunder and (iii) the rates of interest stipulated herein are intended to be nominal rates and not effective rates or yields.

Interest and Default Rate. (a) Subject to Interest shall accrue on the provisions Outstanding Amount of subsection each Term Loan at a variable rate (bthe “Term Loan Rate”) belowper year equal to, (i) for each Term SOFR Loan that is a Eurodollar Loan, the LIBOR Rate plus the Applicable Margin in effect from time to time for such Term Loan and (ii) for each Term Loan that is a Base Rate Loan, the Base Rate plus the Applicable Margin in effect from time to time for such Term Loan. Thereafter, the applicable Borrower may elect to convert such Borrowing into a different Type as provided in Section 4.16. Adjustments to the Term Loan Rate shall be effective monthly on each Interest Rate Determination Date. The Term Loan Rate shall remain fixed during each applicable Interest Period based upon the Term Loan Rate established hereunder on the applicable Interest Rate Determination Date (subject to adjustments to the Applicable Margin as provided in the definition thereof). The Term Loan Rate shall not exceed any maximum interest rate permitted by applicable law. (b) Notwithstanding any contrary provision set forth herein, if any Event of Default has occurred and is continuing, upon request of the Required Lenders, or automatically in the case of an Event of Default under a Facility Sections 10.1(g) and (h), the applicable Borrowers shall bear pay interest on the outstanding principal amount thereof for each Interest Period Term Loan at a rate per annum equal to the Term SOFR for such Interest Period lesser of: (i) the rate per annum otherwise payable under clause (a) above or, as applicable under Section 4.3 hereof, plus the Applicable Ratetwo percent (2%) per annum; or (ii) each Base Rate Loan under a Facility shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a highest rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each Swingline Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate. (i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. (ii) If any amount (other than principal of any Loan) law. All such interest shall be payable on demand by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. (iii) Upon the written notice of the Administrative Agent (acting upon the written request of the Required Lenders) to the Borrower, while any Event of Default exists (other than as set forth in clauses (b)(i) and (b)(ii) above), the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demandAgent. (c) Interest The applicable Borrowers shall pay interest on each Incremental Term Loan shall be due and payable as provided in arrears on each Interest Payment Date applicable thereto and at the definitive documentation establishing such other times as may be specified herein. Interest hereunder shall be due and payable in accordance Incremental Term Loan (to the extent inconsistent with the terms hereof before and after judgment, and before and after the commencement foregoing provisions of any proceeding under any Debtor Relief Lawthis Section).

Interest and Default Rate. (a) Subject Except as otherwise provided in this Agreement, Loans under the Revolving Credit Facility shall accrue interest at an annual rate equal to the provisions lesser of subsection (b) below, (i) each Term SOFR Loan under at Borrower’s option (A) for a Facility shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Term SOFR for such Interest Period plus the Applicable Rate; (ii) each Base Rate Loan under a Facility shall bear interest on Loan, the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to sum of the Base Rate plus the Applicable Rate; Margin for Base Rate Loans, or (B) for a LIBOR Loan, the sum of LIBOR plus the Applicable Margin for LIBOR Loans, and (iiiii) each Swingline the Maximum Rate. Each change in the Base Rate, LIBOR, or the Maximum Rate is effective as of the effective date of such change without notice to Borrower or any other Person. (b) Except as otherwise provided in this Agreement, Loans under the Term Loan shall bear accrue interest on the outstanding principal amount thereof from the applicable borrowing date at a an annual rate per annum equal to the lesser of (i) at Borrower’s option (A) for a Base Rate Loan, the sum of the Base Rate plus the Applicable Rate. Margin for Base Rate Loans, or (iB) If any amount for a LIBOR Loan, the sum of principal of any Loan is not paid when due (without regard to any applicable grace periods)LIBOR plus the Applicable Margin for LIBOR Loans, whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. and (ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document Maximum Rate. Each change in the Base Rate, LIBOR, or the Maximum Rate is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request effective as of the Required Lenders, effective date of such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal change without notice to Borrower or any other Person. Notwithstanding anything to the Default Rate to the fullest extent permitted by Applicable Laws. (iii) Upon the written notice of the Administrative Agent (acting upon the written request of the Required Lenders) to the Borrower, while any Event of Default exists (other than as set forth in clauses (b)(i) and (b)(ii) above)contrary herein, the Borrower shall pay interest on Applicable Margin for Loans under the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws. (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) Term Loan shall be due based on Level III until Lender receives the Compliance Certificate and payable upon demandCurrent Financials for the period ending September 30, 2007. (c) Interest on each Loan To the extent permitted by Law, while a Default exists, the Obligation shall be accrue interest at the lesser of (i) the Default Rate and (ii) the Maximum Rate, until all past due amounts are paid (whether payment is made before or after entry of a judgment or the Default is otherwise cured or waived). Subject to Section 3.7, if a Default exists, Lender may, in its sole discretion, to the extent permitted by Law, add accrued and payable in arrears on each Interest Payment Date unpaid interest to the Principal Debt and such amount will accrue interest until paid at the applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Lawinterest rate.”