Applicable Rate of Interest. The Applicable Rate of interest for the facility granted/ to be granted to the Borrower is as follows: Sl. No. Nature of the limit ……… month(s) MCLR Reset period Spread Effective Rate of Interest (C + E) Rest Remarks, if any.
Applicable Rate of Interest. The Applicable Rate of interest for the facility granted/ to be granted to the Borrower is as follows:
Applicable Rate of Interest. No FFELP Loan carries a rate of interest less than, or in excess of, the applicable rate of interest required by the Higher Education Act. [If the Higher Education Act permits the Seller to charge an interest rate less than the applicable rate of interest, no FFELP Loan acquired hereunder bears interest at a rate lower than the applicable rate of interest; provided, however, that the Purchaser may approve, in its sole discretion, in writing, interest reductions which are part of a borrower repayment incentive program of the Seller, the terms of which have been fully described in detail and in writing to the Purchaser].
Applicable Rate of Interest. (a) From and after the date of this Agreement, and except as otherwise provided in this Section 8, interest shall accrue on the unpaid principal balance of the Obligations outstanding at the rate of 5-1/2% per annum, calculated and paid in accordance with the terms of the Term Note.
(b) If by October 30, 2005, Borrower has not delivered to Lender a term sheet, proposal letter or other writing definitively evidencing the fact that Borrower is engaged in active discussions with a bank or other financial institution to provide Take-Out Financing, then the otherwise applicable rate of interest with respect to the principal balance of the Obligations shall be increased by 100 basis points, effective November 1, 2005.
(c) If by November 30, 2005, Borrower has not delivered to Lender an Acceptable Commitment Letter, then the otherwise applicable rate of interest with respect to the Obligations shall be increased by an additional 100 basis points (in addition to and after giving effect to any increase provided for in paragraph (b) of this Section 8), effective December 1, 2005.
(d) During the Extension Period, and provided that each of the Extension Conditions is satisfied, Lender shall not be authorized to charge or collect any default rate of interest that Lender would otherwise be entitled to charge or collect in the absence of this Agreement, but on and after the Termination Date Lender may charge and collect such default rate of interest to the extent authorized by the Loan Documents.
Applicable Rate of Interest. (1) The applicable rate of interest shall be the base interest rate specified in paragraph (2) below on the day two bank business days prior to the date of loan or the date of review of the interest rate plus annual rate of 1.400%, and the rate shall be calculated on the prorated daily basis assuming 365-day a year.
(2) The base interest rate shall be the rate for the Japanese yen displayed on page 58143 of the REUTERS screen by the Bank depending on the period of interest rate specified in Section 2 hereof. Provided, however, that in case the period from the date of loan to the following date of review of the interest rate does not conform to the period of interest rate specified in Section 2, the base rate shall be the rate reasonably determined by the Bank depending on the period based on the offered rates on the funds provided in borrowing and lending transactions for yen funds in the financial market. If the aforementioned page is not displayed for any reason, the base rate shall be the rate displayed on the succeeding or alternative page under the same service.
Applicable Rate of Interest. The Applicable Rate of interest for the facility granted/ to be granted to the Borrower is as follows: Sl. No. Nature of the limit Rate of Interest Rest Remarks, if any. (A) (B) (C) (D) (E)
Applicable Rate of Interest. (a) From and after the date of this Agreement, and except as otherwise provided in this Section 7, interest shall accrue (i) on the principal amount of the Revolver Obligations outstanding from time to time at a variable rate per annum equal to the Adjusted Monthly LIBOR Index Rate (adjusted on the first LIBOR Business Day of each LIBOR period) plus 200 basis points, all as more fully set forth in the Credit Agreement, and (ii) on the unpaid principal balance of the Term Loan Obligations outstanding at the rate of 5-1/2% per annum, calculated and paid in accordance with the terms of the Term Note.
(b) If by June 30, 2005, Borrower has not delivered to Lender a term sheet, proposal letter or other writing definitively evidencing the fact that Borrower is engaged in active discussions with a bank or other financial institution to provide Take-Out Financing, then the otherwise applicable rate of interest with respect to the principal balance of the Revolver Obligations and the Term Loan Obligations shall be increased by 100 basis points, effective July 1, 2005.
(c) If by July 31, 2005, Borrower has not delivered to Lender an Acceptable Commitment Letter, then the otherwise applicable rate of interest with respect to the Revolver Obligations and Term Loan Obligations shall be increased by an additional 100 basis points (in addition to and after giving effect to any increase provided for in paragraph (b) of this Section 7), effective August 1, 2005.
(d) During the Extension Period, and provided that each of the Extension Conditions is satisfied, Lender shall not be authorized to charge or collect any default rate of interest that Lender would otherwise be entitled to charge or collect in the absence of this Agreement, but on and after the Termination Date Lender may charge and collect such default rate of interest to the extent authorized by the Loan Documents.
Applicable Rate of Interest. (a) From October 6, 2005, through and including October 31, 2005, interest shall accrue on the unpaid principal balance of the Obligations outstanding at the rate of five and one-half percent (5.5%) per annum, calculated and paid in accordance with the terms of the Term Note.
(b) From November 1, 2005, through and including November 30, 2005, interest shall accrue on the unpaid principal balance of the Obligations outstanding at the rate of six and one-half percent (6.5%) per annum, calculated and paid in accordance with the terms of the Term Note.
(c) From and after December 1, 2005, and except as otherwise provided in this Section 8, interest shall accrue on the unpaid principal balance of the Obligations outstanding at the rate of seven and one-half percent (7.5%) per annum, calculated and paid in accordance with the terms of the Term Note.
(d) During the Extension Period, and provided that each of the Extension Conditions is satisfied, Lender shall not be authorized to charge or collect any default rate of interest that Lender would otherwise be entitled to charge or collect in the absence of this Agreement, but on and after the Termination Date Lender may charge and collect such default rate of interest to the extent authorized by the Loan Documents.
Applicable Rate of Interest. (1) The applicable rate of interest shall be the base rate of interest, which is defined in Numbered Item 2 of the present paragraph, prevailing two business days prior to the effective date of borrowing with a per annum rate of 1.00% added thereto, and interest shall be calculated on a pro rata basis using a 365 day year.
(2) The base rate of interest shall be the rate of interest that is determined in a rational manner by the Bank for a specific period of time based on the offered rates on the funds provided in borrowing and lending transactions for yen funds in the financial market.
Applicable Rate of Interest. The Applicable Rate of interest for the facility(ies) granted/ to be granted to the Borrower is as follows: Sl. No. Nature of the limit ……… month(s) MCLR Reset period Spread Effectiv e Rate of Interest (C + E) Rest Remarks, if any.
