Common use of 2008 Term Advances Clause in Contracts

2008 Term Advances. Borrower shall pay interest on each 2008 Payment Date on the unpaid principal amount of each 2008 Term Advance until such 2008 Term Advance has been paid in full. Subject to Section 2.3(b)(vi), interest shall accrue at the floating per annum rate of interest equal to the aggregate of the Prime Rate and one-half of one percent (0.50%).

Appears in 3 contracts

Samples: Term Loan and Security Agreement (A123 Systems, Inc.), Term Loan and Security Agreement (A123 Systems, Inc.), Term Loan and Security Agreement (A123 Systems, Inc.)

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2008 Term Advances. Borrower shall pay interest on each 2008 Payment Date on the unpaid principal amount of each 2008 Term Advance until such 2008 Term Advance has been paid in full. Subject to Section 2.3(b)(vi), interest shall accrue at the floating per annum rate of interest equal to the aggregate of the Prime Rate and one-half of one percent (0.50%)." and inserting in lieu thereof the following:

Appears in 1 contract

Samples: Term Loan and Security Agreement (A123 Systems, Inc.)

2008 Term Advances. Borrower shall pay interest on each 2008 Payment Date on the unpaid principal amount of each 2008 Term Advance until such 2008 Term Advance has been paid in full. Subject to Section 2.3(b)(vi), interest shall accrue at the floating per annum rate of interest equal to the aggregate of the Prime Rate and one-half of one percent (0.50%).” and inserting in lieu thereof the following:

Appears in 1 contract

Samples: Term Loan and Security Agreement (A123 Systems, Inc.)

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2008 Term Advances. Borrower shall pay interest on each 2008 Payment Date on the unpaid principal amount of each 2008 Term Advance until such 2008 Term Advance has been paid in full. Subject to Section 2.3(b)(vi), interest shall accrue at the floating per annum rate of interest equal to the aggregate of the Prime Rate and one-half of one percent (0.50%). Commencing on the 2009 Effective Date and subject to Section 2.3(b)(vi), interest shall accrue at the floating per annum rate of interest equal to the aggregate of the Prime Rate and three-quarters of one percent (0.75%).”

Appears in 1 contract

Samples: Term Loan and Security Agreement (A123 Systems, Inc.)

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