Amendment Term Loans, as applicable Sample Clauses
Amendment Term Loans, as applicable. Any interest to be so capitalized pursuant to this clause (d) shall be capitalized on the applicable interest payment date, shall be added to the then outstanding principal amount of the Initial Term Loans or First Amendment Term Loans, as applicable, and shall bear interest as provided hereunder as if it had originally been part of the outstanding principal of the Initial Term Loans or First
Amendment Term Loans, as applicable. In the event that the Administrative Borrower elects to exercise the Cash Pay Election, it shall deliver a written notice of its exercise of the Cash Pay Election to the Administrative Agent no later than three (3) Business Days prior to the applicable interest payment date (such notice, a “Cash Payment Notice”), which notice shall set forth the portion of the Applicable PIK Amount which shall be paid in cash on such applicable interest payment date. Interest at the Post-Default Rate shall be payable on demand. Interest shall accrue on each Loan for the day on which the Loan is made and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid; provided that any Loan that is repaid on the same day on which it is made shall bear interest for one day.