Common use of Rate after Maturity Clause in Contracts

Rate after Maturity. Except as provided in the next sentence, any Advance not paid at maturity, whether by acceleration or otherwise, shall bear interest until paid in full at a rate per annum equal to the Floating Rate plus 2% per annum. In the case of a Eurodollar Rate Advance the maturity of which is accelerated pursuant to Section 8.1, such Eurodollar Rate Advance shall bear interest until paid in full for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum and thereafter at the Floating Rate plus 2% per annum.

Appears in 2 contracts

Sources: Credit Agreement (Cordant Technologies Inc), Credit Agreement (Cordant Technologies Inc)

Rate after Maturity. Except as provided in the next sentence, any Advance or Reimbursement Obligation not paid at maturity, whether by acceleration or otherwise, shall bear interest until paid in full at a rate per annum equal to the Floating Alternate Base Rate plus 2% per annum. In the case of a Eurodollar Rate Advance the maturity of which is accelerated pursuant to Section 8.1accelerated, such Eurodollar Rate Advance shall bear interest until paid in full for the remainder of the applicable Interest Period Period, at the higher of the rate otherwise applicable to such Interest Period plus 2% per annum and thereafter at or the Floating Prime Rate plus 2% per annum.

Appears in 2 contracts

Sources: Credit Agreement (Midamerican Funding LLC), Credit Agreement (Midamerican Funding LLC)

Rate after Maturity. Except as provided in the next sentence, any Advance not paid at maturity, whether by acceleration or otherwise, shall bear interest until paid in full at a rate per annum equal to the Floating Alternate Base Rate plus 2% per annum%. In the case of a Eurodollar Rate Advance the maturity of which is accelerated pursuant to Section 8.1accelerated, such Eurodollar Rate Advance shall bear interest until paid in full for the remainder of the applicable Interest Period Period, at the higher of (i) the rate (including the Eurodollar Spread or the Competitive Bid Margin, as applicable) otherwise applicable to such Interest Period plus 2% per annum and thereafter at or (ii) the Floating Alternate Base Rate plus 2% per annum.

Appears in 1 contract

Sources: Credit Agreement (Apache Corp)

Rate after Maturity. Except as provided in the next sentence, any Any Advance not paid at maturity, whether by acceleration or otherwise, shall bear interest until paid in full at a rate per annum equal to the Floating Rate plus 2% per annum. In the case of a Eurodollar Rate Advance the maturity of which is accelerated pursuant to Section 8.1, such Eurodollar Rate Advance shall bear interest until paid in full for the remainder of the applicable Interest Period Period, at the rate (including the Eurodollar Spread) otherwise applicable to such Interest Period plus 2% per annum and thereafter at the Floating Rate plus 2% per annum.

Appears in 1 contract

Sources: Credit Agreement (Apache Corp)

Rate after Maturity. Except as provided in the next sentence, any Advance not paid at maturity, whether by acceleration or otherwise, shall bear interest until paid in full at a rate per annum equal to the Floating Alternate Base Rate plus 2% per annum%. In the case of a Eurodollar Rate Advance the maturity of which is accelerated pursuant to Section 8.1accelerated, such Eurodollar Rate Advance shall bear interest until paid in full for the remainder of the applicable Interest Period Period, at the higher of (i) the rate (including the Eurodollar Spread) otherwise applicable to such Interest Period plus 2% per annum and thereafter at or (ii) the Floating Alternate Base Rate plus 2% per annum.

Appears in 1 contract

Sources: Credit Agreement (Apache Corp)