(i) Any default shall occur in the payment when due (whether by scheduled maturity, prepayment, acceleration or otherwise) of any principal of or any interest on the Loans, and such payment is not received (A) in the case of any such payment constituting a Mandatory Prepayment Amount, within five Business Days of the due date therefor, or (B) in the case of all other such payments, within one Business Day of the due date therefor, or (ii) any default shall occur in the payment when due of any fees or other amounts owing to any Protected Party under any Loan Document or in connection herewith or therewith (in any case, other than with respect to interest calculated by reference to the Default Margin), which default shall continue for 15 days after notice thereof has been given to the Borrower and the Servicer by the Administrative Agent.