The Loans shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Interest Rate. Interest on the Loans shall be payable in arrears on the last Business Day of each fiscal quarter of the Loan Parties’ fiscal year with respect to Domestic Rate Loans and, with respect to LIBOR Rate Loans, at the end of each Interest Period; provided , that all accrued and unpaid interest shall be due and payable on the Maturity Date. Interest charges shall be computed on the actual principal amount of Loans outstanding during the month at a rate per annum equal to the Interest Rate. Except as expressly provided otherwise in this Agreement, any Obligations other than the Loans that are not paid when due shall accrue interest at the Interest Rate for Domestic Rate Loans, subject to the provision of the final sentence of this Section 3.1 regarding the Default Rate. Whenever, subsequent to the date of this Agreement, the Alternate Base Rate is increased or decreased, the Interest 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 during the time such change or changes remain in effect. The LIBOR Rate shall be adjusted with respect to the LIBOR Rate Loans without notice or demand of any kind on the effective date of any change in the Reserve Percentage as of such effective date. Immediately and automatically without the requirement of any affirmative action by any party, upon and after the occurrence of an Event of Default, and during the continuation thereof, at the option of Administrative Agent or at the direction of Required Lenders, the Obligations shall bear interest at the Interest Rate for Domestic Rate Loans plus two percent (2%) per annum (the “ Default Rate ”).