Default Rate

Default Rate. Means a rate of interest equal to two percentage points ------------ (200 basis points) in excess of the highest interest rate that would otherwise be payable on the principal indebtedness evidenced by this Note from time to time in the absence of the existence of a default, or the maximum rate permitted by law, whichever is less.

Default Rate. Means after maturity (whether by acceleration or otherwise), the outstanding principal under the Line of Credit and the unpaid interest and fees thereon shall bear interest at a rate per annum equal to the greater of three percent (3%) in excess of the highest applicable interest rate provided for herein, or sixteen percent (16%).

Default Rate. Means an interest rate equal to the default rate per annum as set forth in the Note.

Default Rate. Shall mean, subject to the provisions of Section 8 hereof, a rate per annum equal to four percent (4%) plus the Applicable Interest Rate in effect from time to time.

Default Rate. Shall mean the following: (a) for the first thirty-day period (or portion thereof) that the Interfering Event exists, 2.0%; and (b) for each thirty-day period (or portion thereof) thereafter, an additional 1.5%.

Default Rate. Means a floating per annum rate of interest equal to four percent (4%) in excess of the Variable Rate.

Default Rate. Means a rate per annum equal to five percent (5%) above the rate of interest applicable to the Note.

Default Rate. Shall mean thirteen and two-tenths percent (13.20%) per annum; however, in no event shall the Default Rate exceed the highest rate authorized by applicable law.

Default Rate. Means an interest rate of fifteen percent (15%) per annum.

Default Rate. Shall have the meaning set forth in the Short Term Note.