Waiver of Default Interest Sample Clauses
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Waiver of Default Interest. Subject to the terms and conditions set forth herein, and in reliance on the representations and warranties of the Borrower and Holdings, and each of their Subsidiaries, the Lenders waive the Borrower’s obligation to pay default interest pursuant to Section 2.10(c) on those portions of the Term Loans that were required to be repaid with proceeds of mandatory prepayments (as set forth above), but which were not repaid.
Waiver of Default Interest. Under Section 3.04 of the Credit Agreement, upon the occurrence and during the continuance of an Event of Default, the Borrower is obligated to pay, in addition to the interest then payable on any Loan, additional interest on the Loans at 2% per annum (such additional interest, the “Additional Interest”) until such Event of Default has been cured or waived. By signing below, (a) the parties agree that, notwithstanding the waivers of the Events of Default pursuant to paragraphs A and B above, interest on the Loans shall continue to accrue at the Default Rate and (b) each Lender waives, until June 30, 2013 the Borrower’s obligation to pay the Additional Interest.
Waiver of Default Interest. In consideration of the payments to be made pursuant to Section 2.16 of the Credit Agreement (as added by this Forbearance Agreement), the Banks waive their right to raise the interest rates applicable to the Notes to the Default Rate for the periods prior to the Effective Date and for the period from the Effective Date to the Termination Date. On the Termination Date, the principal of the Notes shall automatically bear interest at the Default Rate.
Waiver of Default Interest. Upon the effectiveness of this Agreement, the Lenders shall be deemed to have waived all accrued and unpaid interest under the Existing Agreement which was in excess of the rates of interest set forth in Sections 2.15(a) and (b) thereof.
Waiver of Default Interest. Notwithstanding any provision contained herein, Sentra waives payment by Karat Platinum of any Default Interest specified in the Notes with respect to each of the Notes.
Waiver of Default Interest. 2.1 Subject to clause 2.5 below, the Default Interest as provided under the SA shall stop accruing from the date of this Agreement.
2.2 Subject to clause 2.5 below, the Investor agrees to waive 50% of the Default Interest outstanding as of the date of this Agreement, being US$11,130,444, provided (and on the condition) that the Company has fully paid the SBA Deposit on April 30, 2025 in accordance with clause 3.
2.3 Subject to clause 2.5 below, provided (and on the condition) that (a) the Company has fully paid the SBA Deposit on April 30, 2025 in accordance with clause 3, and (b)(i) the Closing takes place on or before June 30, 2025, or (ii) the Closing does not take place on or before June 30, 2025 due to the Investor’s failure to satisfy its conditions set out in clause 6.3 (provided that, in the case of the foregoing sub-clause (ii), the Company is not in breach of any representation or warranty, covenant or other agreement in this Agreement and is otherwise ready, willing and able to consummate the Closing) (the Investor’s Failure), the Investor agrees to waive all remaining Default Interest outstanding as of the date of this Agreement.
2.4 Subject to clause 2.5 below, provided (and on the condition) that (a) the Company has fully paid the SBA Deposit on April 30, 2025 in accordance with clause 3, and (b)(i) the Closing takes place after June 30, 2025, but on or before September 30, 2025, or (ii) the Closing does not take place on or before September 30, 2025 due to the Investor’s Failure, the Investor agrees to waive a portion of the Default Interest outstanding as of the date of this Agreement (the Waived Default Interest Amount) calculated in accordance with the following formula: Of which: “D” is the number of day(s) falling between July 1, 2025 (inclusive) and,
(a) if the Closing takes place on or before September 30, 2025, the Closing Date (inclusive); or
(b) if the Closing does not take place on or before September 30, 2025 due to the Investor’s Failure, the proposed Closing Date in the Closing Notice (inclusive).
2.5 Notwithstanding anything to the contrary in this Agreement, if (a) the Company has not fully paid the SBA Deposit on April 30, 2025 in accordance with clause 3 or (b) the Closing does not take place on or before September 30, 2025 (in the case of the foregoing sub-clause (b), other than due to the Investor’s Failure), then (i) the Investor’s waiver of the Default Interest provided under clauses 2.1 to 2.4 (inclusive) above shall b...
Waiver of Default Interest. The Note provides that all past due -------------------------- payments of principal and interest are entitled to bear interest at the rate of 15% per annum from maturity until paid. Accordingly, the Borrower is obligated to pay the Lender interest at the default rate of 15% per annum commencing November 1,
Waiver of Default Interest. Provided no further default under the Loan Documents or a breach of this Agreement occurs and the Liabilities are paid in full on or before the Extension Date, Lender waives right to assess and collect default interest due to the defaults and failure to pay all sums when due on any prior Termination Date as defined in the Amended Loan Agreement.
Waiver of Default Interest. Provided no further default under the Loan Documents or a breach of this Agreement occurs and the Liabilities are paid in full on or before the Extension Date, Lender waives right to access and collect default interest due to the defaults and failure to pay all sums when due on the Termination Date and then January 23, 2002.
Waiver of Default Interest. 85 SCHEDULES: