Additional Interest Provisions. (a) Interest on the Loans shall be calculated on the basis of a year of three hundred sixty (360) days but charged for the actual number of days elapsed. The date of funding of an Advance shall be included in the calculation of interest. The date of payment with respect to an Advance shall be excluded from the calculation of interest.
(b) After the occurrence and during the continuance of an Event of Default hereunder, the per annum effective rate of interest on all outstanding principal under the Loans shall be equal to the applicable Interest Rate plus five hundred (500) basis points (the “Default Rate”). All such increases may be applied retroactively to the date of the occurrence of the Event of Default. Borrower agrees that the Default Rate is a reasonable estimate of Lender’s damages and is not a penalty.
(c) All contractual rates of interest chargeable on outstanding principal under the Loans shall continue to accrue and be paid even after Default, an Event of Default, maturity, acceleration, judgment, bankruptcy, insolvency proceedings of any kind or the happening of any event or occurrence similar or dissimilar.
(d) In no contingency or event whatsoever shall the aggregate of all amounts deemed interest hereunder and charged or collected pursuant to the terms of this Agreement exceed the highest rate permissible under any Law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such court determines Lender has charged or received interest hereunder in excess of the highest applicable rate, Lender shall apply, in its sole discretion, and set off such excess interest received by Lender against other Obligations due or to become due and such rate shall automatically be reduced to the maximum rate permitted by such Law.
Additional Interest Provisions a. Interest shall be calculated on the basis of a year of three hundred sixty (360) days but charged for the actual number of days elapsed.
Additional Interest Provisions. 23 2.6 Fees.......................................................................................24 2.7 Prepayments................................................................................25 2.8 Use of Proceeds............................................................................27 2.9
Additional Interest Provisions. 21 2.7 Payments....................................................... 22 2.8 Use of Proceeds................................................ 23 2.9
Additional Interest Provisions. (a) Calculation of Interest: Interest on all Loans and other ----------------------- Obligations, regardless of the rate option, shall be based on a three hundred sixty (360) day year and charged for the actual number of days elapsed.
Additional Interest Provisions. (i) Interest on the Loans, regardless of the rate option, shall be calculated on the basis of a year of three hundred sixty (360) days but charged for the actual number of days elapsed.
(ii) All contractual rates of interest chargeable on outstanding principal under the Loans, regardless of the rate option, shall continue to accrue and be paid even after Default, an Event of Default, maturity, acceleration, judgment, bankruptcy, insolvency proceedings of any kind or the happening of any event or occurrence similar or dissimilar.
(iii) In no contingency or event whatsoever shall the aggregate of all amounts deemed interest hereunder and charged or collected pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such court determines Lender has charged or received interest hereunder in excess of the highest applicable rate, Lender shall apply, in its sole discretion, and set off such excess interest received by Lender against other Loan Obligations due or to become due and such rate shall automatically be reduced to the maximum rate permitted by such law; provided that if the Obligations have been paid and satisfied in full and the Revolving Credit terminated, any excess interest shall be paid as such court directs.
Additional Interest Provisions. (a) Calculation of Interest. Interest on the Loans, ----------------------- regardless of the rate option, shall be charged on the basis of a year of three hundred sixty (360) days but charged for the actual number of days elapsed. Changes in the interest rate applicable to Base Rate Loans shall become effective on the same day as Lender announces a change in its Prime Rate or, if applicable, the date the Fed Funds Rate change.
Additional Interest Provisions. 18 2.6 Fees . . . . . . . . . . . . . . . . . . . . . . . 19 2.
Additional Interest Provisions. 23 2.5 FEES............................................................24 2.6 LIBOR BASED RATE LOAN PREPAYMENTS...............................25 2.7
Additional Interest Provisions. 35 2.9 FEES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 2.10 PREPAYMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . 37 2.11
