Interest on Advances shall be payable in arrears on the first day of each month with respect to Domestic Rate Loans and Overnight Eurodollar Rate Loans. Interest charges shall be computed on the actual principal amount of Advances outstanding during the month at a rate per annum equal to (i) with respect to Revolving Advances, the applicable Revolving Interest Rate, (ii) with respect to FILO Advances, the applicable FILO Interest Rate and (iii) with respect to Swing Loans, the rate set forth in subclause (a) of the definition of Revolving Interest Rate (as applicable, the “ Contract Rate ”). Whenever, subsequent to the date of this Agreement, the Alternate Base Rate or Overnight Eurodollar Rate is increased or decreased, the applicable Contract Rate shall be similarly changed without notice or demand of any kind by an amount equal to the amount of such change in the Alternate Base Rate or Overnight Eurodollar Rate during the time such change or changes remain in effect. Upon and after the occurrence of an Event of Default, and during the continuation thereof, at the option of Agent or at the direction of Required Lenders, the Obligations shall bear interest at the applicable Contract Rate plus two (2%) percent per annum (the “ Default Rate ”).