Post-Default Interest definition

Post-Default Interest. Any principal balance not paid when due (whether by acceleration or otherwise) shall accrue interest at the
View Source
Post-Default Interest shall have the meaning given to such term in Section 35. ---------------------
View Source
Post-Default Interest. Any principal balance not paid when due (whether by acceleration or otherwise) shall accrue interest at the "Default Rate" until such principal balance is paid. "Default Rate" shall be a per annum rate of interest equal to (i) fifteen percent (15.0%) or (ii), if less, the highest rate of interest permitted by applicable law. Upon the occurrence of an Event of Default, Debtor shall also pay, in addition to and on the same date each principal installment is due, additional interest ("Daily Supplemental Interest") as reflected in Secured Party's invoice, which Secured Party shall calculate as follows: Daily Supplemental Interest shall be the amount obtained by multiplying the principal installment, determined as of the due date next preceding the occurrence of the Event of Default, by Three percent (3.00%) and dividing the product by 360 days; provided that any corresponding increase in the interest rate hereof shall be reduced, if necessary, so as not to exceed the maximum interest rate permitted by applicable law. Secured Party may, at its option, apply late payments (either in full or partial) in the following manner: first to interest, then to principal, and finally to late charges. To the extent permitted by applicable law, Debtor shall pay interest on delinquent principal installments on demand regardless of whether or not Secured Party proceeds under the "Remedies" provisions hereof or takes any other action, and demand for and collection of interest on such overdue installments at the Default Rate shall not be deemed a waiver of default or of any other remedies or rights. This paragraph shall not be construed to limit or waive any of Secured Party's rights and remedies otherwise available to Secured Party after the occurrence of any Event of Default
View Source

Examples of Post-Default Interest in a sentence

  • The Agent shall provide a billing to the Borrower setting forth the amount of the Fee payable in sufficient time for the Borrower to make timely payments of the correct amount without incurring any penalty or Post-Default Interest.

  • Post-Default Interest; Past Due Principal and Interest 52 Section 3.11.

  • Post-Default Interest; Past Due Principal and Interest.............................

  • Post-Default Interest; Past Due Principal and Interest.........................................

  • Post-Default Interest; Past Due Principal and Interest................44 Section 3.11.

  • Post-Default Interest; Past Due Principal and Interest........................45 SECTION 3.11.

  • The Agent shall provide a billing to the Borrower setting forth the amount of interest payable in sufficient time for the Borrower to make timely payments of the correct amount without incurring any penalty or Post-Default Interest.

  • Interest on any overdue principal of and, to the extent permitted by law, overdue interest hereof shall bear interest at the Post-Default Interest Rate, as provided for in the Credit Agreement.

  • Post-Default Interest; Past Due Principal and Interest................................................

  • Post-Default Interest; Past Due Principal and Interest 41 Section 3.11.

Related to Post-Default Interest

  • Default Interest means interest chargeable in terms of this Agreement to unpaid amounts or outstanding obligations which interest shall be calculated, from the due date until date of payment, on a daily balance and compounded monthly in arrear at an annual rate of two percent (2%) above the prevailing, variable prime rate publicly quoted by ABSA Bank Limited from time to time.

  • Post-Default Rate means, (a) in respect of any principal of any Loan or any Reimbursement Obligation, the rate otherwise applicable plus an additional two percent (2.0%) per annum, and (b) with respect to any other Obligation, a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin for Base Rate Loans plus two percent (2.0%).

  • Note Default Interest Spread means, with respect to the outstanding principal balance of any Note, a rate per annum equal to the lesser of (i) the Maximum Legal Rate minus the Note A Rate or (ii) five percent (5%).

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Default Interest Period means for any overdue amount of the Withdrawn Loan Balance, each Interest Period during which such overdue amount remains unpaid; provided, however, that the first such Default Interest Period shall commence on the 31st day following the date on which such amount becomes overdue, and the final such Default Interest Period shall end on the date at which such amount is fully paid.”