Common use of Interest Upon Default Clause in Contracts

Interest Upon Default. The outstanding principal balance of the Loans (and any fees thereof) shall bear interest at the Default Rate immediately upon the occurrence of an Event of Default under Section 8.1(b) hereof and upon the notice thereof from the Required Lenders, after the occurrence of any other Event of Default. Such interest shall be payable by the Borrower on demand and shall accrue from the occurrence of such Event of Default or notice, as the case may be until the earliest of (A) waiver or cure of such Event of Default, (B) agreement by the Required Lenders (or, if applicable to the underlying Event of Default, the Lenders) to rescind the charging of interest at the Default Rate, or (C) payment in full of the Obligations.

Interest Upon Default. The outstanding principal balance of the Loans (and any fees thereof) shall bear interest at the Default Rate immediately Immediately upon the occurrence of an Event of Default under described in Section 8.1(b) hereof and upon hereunder as a result of the notice thereof from failure of the Required LendersBorrower to make any payment specified therein when due, after the occurrence unpaid amount of any other Event of Defaultsuch payment (to the extent permitted by Applicable Law) shall bear interest at the Default Rate. Such interest shall be payable by the Borrower on demand by the Required Lenders and shall accrue from the occurrence of such Event of Default or notice, as the case may be until the earliest earlier of (Ai) waiver or cure of such the applicable Event of Default, (Bii) agreement by the Required Lenders (or, if applicable to the underlying Event of Default, all of the Lenders) to rescind the charging of interest at the Default Rate, Rate or (Ciii) payment in full of the Obligationsunpaid amount of any such payment.

Interest Upon Default. The Immediately upon the occurrence of a Default or an Event of Default hereunder, the outstanding principal balance of the Loans (and any fees thereof) shall bear interest at the Default Rate immediately upon the occurrence of an Event of Default under Section 8.1(b) hereof and upon the notice thereof from the Required Lenders, after the occurrence of any other Event of DefaultRate. Such interest shall be payable by the Borrower on demand by the Required Lenders and shall accrue from the occurrence of such Default or Event of Default or notice, as the case may be until the earliest earlier of (Ai) waiver or cure of such the applicable Event of Default, (Bii) agreement by the Required Lenders (or, if applicable to the underlying Event of Default, the Lenders) to rescind the charging of interest at the Default Rate, or (Ciii) payment in full of the Obligations.