If all or any part of the Guaranteed Obligation shall not be punctually paid when due (taking into account any cure periods provided under the Obligor Loan Documents), whether on demand, maturity, acceleration or otherwise, Guarantor shall pay, immediately upon demand by Lender and without presentment, protest, notice of protest, notice of non-payment, notice of intention to accelerate the maturity, or notice of acceleration of the maturity, in immediately available lawful money of the United States of America, as an addition to the Guaranteed Obligation, interest on the Guaranteed Obligation (to the extent not paid when due) at a rate equal to the interest rate specified in the Note increased by three percentage points (3%) until paid in full (without duplication of any imposition of the Default Rate as defined in and pursuant to the Note). Lender may apply all money received by Lender from Guarantor to payment or reduction of the Loan, the obligations under the Master Lease or reimbursement of Lender’s expenses to the extent payable pursuant to the Obligor Loan Documents, in such priority and proportions, and at such time or times as Lender may elect in its sole discretion.