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Default interest |
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Default interest A higher interest rate payable after default. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The Company also pursued its deficiency relating to default interest, expenses and prepayment fees of approximately $650,000 against the borrower and its affiliated tenant who had filed for bankruptcy protection and collected approximately $655,000 from the tenant and borrower in October 2006. 87% when the Bank collected default interest on a non-accruing loan. The Bank states that it is entitled to exercise any and all remedies available under the credit facility and the related security documents, and that, until all Events of Default are cured, the Company is required to pay default interest under the credit facility and that no further advances will be made by the Bank. |
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