Overdue Principal and Interest. Any overdue principal of and, to the extent permitted by Law, overdue interest on any Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to the lesser of (a) the sum of three percent (3%) plus the Base Rate, or (b) the Maximum Lawful Rate.
Appears in 2 contracts
Sources: Credit Agreement (Berry Petroleum Co), Credit Agreement (Berry Petroleum Co)
Overdue Principal and Interest. Any overdue principal of ------------------------------ and, to the extent permitted by Law, overdue interest on any the Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to the lesser of (a) the sum of three percent (3%) plus the Base Rate, or (b) the Maximum Lawful Rate.
Appears in 1 contract
Sources: Credit Agreement (Wiser Oil Co)