Common use of Alternative Rate Clause in Contracts

Alternative Rate. During the occurrence of any event described in either Clauses "b," "c" or "d" of this Subsection, each Lender's obligation hereunder to fund or maintain balances under an Adjusted LIBO Rate will be suspended, and during such period, the outstanding balance under the Term Loan Facility will bear interest at the Prime Rate plus the appropriate Rate Margin (determined in accordance with Section 1.1.5.5).

Appears in 3 contracts

Samples: Credit Facility Agreement (Bizness Online Com), Credit Facility Agreement (Talk Com), Credit Facility Agreement (MCG Finance Corp)

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Alternative Rate. During the occurrence of any event described in either Clauses "b," ", "c" or "d" of this Subsection, each Lender's obligation hereunder to fund or maintain balances under an Adjusted LIBO Rate will be suspended, and during such period, the outstanding balance under the Term Loan Facility will bear interest at the Prime Rate plus the appropriate Rate Margin (determined in accordance with Section 1.1.5.51.1.5.4).

Appears in 2 contracts

Samples: Credit Facility Agreement (MCG Finance Corp), Credit Facility Agreement (NBG Radio Network Inc)

Alternative Rate. During the occurrence of any an event described in contemplated by either Clauses Clause "b," of this Subsection or Clause "c" or "d" of this Subsection, each Lender's obligation hereunder to fund or maintain balances under an Adjusted LIBO Rate will be suspended, and during such period, the outstanding balance under the Term Loan Line of Credit Facility will bear interest at the Prime Rate plus the appropriate Rate Margin (determined in accordance with Section 1.1.5.51.1.5.4 hereof).

Appears in 1 contract

Samples: Credit Facility Agreement (Startec Global Communications Corp)

Alternative Rate. During the occurrence of any event described in either Clauses "b," "c" or "dc" of this Subsection, each affected Lender's obligation hereunder to fund or maintain balances under an Adjusted LIBO Rate will be suspended, and during such period, the outstanding balance under the Term Loan Facility will bear interest at the Prime Base Rate plus the appropriate Rate Margin (determined in accordance with Section 1.1.5.5)Margin.

Appears in 1 contract

Samples: Credit Agreement (Integrity Inc)

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Alternative Rate. During the occurrence of any event described in either Clauses "b," "c" or "d" of this Subsection, each Line Lender's obligation hereunder to fund or maintain balances under an Adjusted LIBO Rate will be suspended, and during such period, the outstanding balance under the Term Loan Line of Credit Facility will bear interest at the Prime Rate plus the appropriate Rate Margin (determined in accordance with Section 1.1.5.51.2.5.5).

Appears in 1 contract

Samples: Credit Facility Agreement (Talk Com)

Alternative Rate. During the occurrence of any event described in either Clauses "b," "c" or "d" of this Subsection, each Term Lender's obligation hereunder to fund or maintain balances under an Adjusted LIBO Rate will be suspended, and during such period, the outstanding balance under the Term Loan Facility will bear interest at the Prime Rate plus the appropriate Rate Margin (determined in accordance with Section 1.1.5.5).

Appears in 1 contract

Samples: Credit Facility Agreement (Talk Com)

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