Default Rate

Default Rate. In respect of any amount not paid when demanded, a rate per annum during the period commencing on the date of demand until such amount is paid in full equal to: (a) if a Prime Loan, a floating rate of 2% above the rate of interest thereon; (b) if a Eurodollar Loan or Money Market Loan, a fixed rate of 2% above the rate of interest in effect thereon at the time of demand until the last day of the Interest Period thereof and, thereafter, a floating rate of 2% above the rate of interest for a... Prime Loan View More

Default Rate. The greater of (i) ten percent (10%) per annum, or (ii) five percent (5%) per annum plus the discount rate of the Federal Reserve Bank situated nearest the Premises; provided, however, in no event shall the Default Rate exceed the maximum interest rate permitted under applicable law.

Default Rate. A variable per annum rate equal to the lesser of (1) two percent (2%) in excess of the interest rate otherwise payable hereunder, or (2) the maximum rate allowed by applicable Laws

Default Rate. Means, at any time, the Applicable Rate plus two percent (2%).

Default Rate. A rate that shall be five percent (5.0%) in excess of the Interest Rate but not more than the maximum rate allowed by law. The Default Rate is imposed as liquidated damages for the purpose of defraying the Lender's expenses incident to the handling of delinquent payments, but are in addition to, and not in lieu of, the Lender's exercise of any rights and remedies hereunder or under applicable law, and any fees and expenses of any agents or attorneys which the Lender may employ. In addition, the... Default Rate reflects the increased credit risk to the Lender of carrying a loan that is in default. Borrower agrees that the Default Rate is a reasonable forecast of just compensation for anticipated and actual harm incurred by the Lender, and that the actual harm incurred by the Lender cannot be estimated with certainty and without difficulty. View More

Default Rate. At any time, means a rate per annum equal to 2.00% above the rate of interest set forth in Section 2 applicable at such time.

Default Rate. Means a rate of twelve percent (12%) per annum, or such lesser rate equal to the highest rate permitted by applicable law.

Default Rate. The lesser of twelve percent per annum or the maximum rate permitted by law.

Default Rate. At any time, the Applicable Rate plus 2.0%

Default Rate. Means a per annum interest rate equal to the sum of: (i) the 12 month U.S. Dollar LIBOR interest rate as published by Thomson Reuters (or such other mutually agreed publication if Thomson Reuters no longer publishes such rate) for the first day when interest is due, and (ii) 300 basis points.