Common use of Calculation of default rate of interest Clause in Contracts

Calculation of default rate of interest. The rates referred to in Clause 7.2 are: (a) the rate applicable to the overdue principal amount immediately prior to the relevant date (but only for any unexpired part of any then current Interest Period); and (b) the applicable Margin plus, in respect of successive periods of any duration (including at call) up to three (3) months which the Agent may, with the consent of the Lenders, select from time to time, LIBOR.

Appears in 6 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

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Calculation of default rate of interest. The rates referred to in Clause 7.2 are: (a) the rate applicable to the overdue principal amount immediately prior to the relevant date (but only for any unexpired part of any then current Interest Period); and; (b) the applicable Margin plus, in respect of successive periods of any duration (including at call) up to three (3) 3 months which the Agent may, with the consent of the Lenders, may select from time to time, LIBOR.:

Appears in 2 contracts

Samples: Loan Agreement (Star Bulk Carriers Corp.), Loan Agreement (Star Bulk Carriers Corp.)

Calculation of default rate of interest. The rates referred to in Clause 7.2 are: (a) the rate applicable to the overdue principal amount immediately prior to the relevant date (but only for any unexpired part of any then current Interest Period); and (b) the applicable Margin plus, in respect of successive periods of any duration (including at call) up to three (3) months which the Agent may, with the consent of the Majority Lenders, select from time to time, LIBOR.

Appears in 2 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

Calculation of default rate of interest. The rates referred to in Clause 7.2 are: (a) the rate applicable to the overdue principal amount immediately prior to the relevant date (but only for any unexpired part of any then current Interest PeriodPeriod applicable to it); and (b) the applicable Margin plus, in respect of successive periods of any duration (including at call) up to three (3) months which the Agent may, with the consent of the Lenders, select from time to time, LIBOR.;

Appears in 2 contracts

Samples: Facility Agreement (NewLead Holdings Ltd.), Facility Agreement (NewLead Holdings Ltd.)

Calculation of default rate of interest. The rates referred to in Clause 7.2 are: (a) the rate applicable to the overdue principal amount immediately prior to the relevant date (but only for any unexpired part of any then current Interest Period); and (b) the applicable aggregate of the Margin and the Mandatory Costs (if any) plus, in respect of successive periods of any duration (including at call) up to three (3) months which the Agent may, with the consent of the Majority Lenders, select from time to time, LIBORTerm SOFR.

Appears in 2 contracts

Samples: Loan Agreement (Dorian LPG Ltd.), Loan Agreement (Dorian LPG Ltd.)

Calculation of default rate of interest. The rates referred to in Clause 7.2 are: (a) the rate applicable to the overdue principal amount immediately prior to the relevant date (but only for any unexpired part of any then current Interest Period); and (b) the applicable Margin plus, in respect of successive periods of any duration (including at call) up to three (3) months which the Agent may, with the consent of the Majority Lenders, select from time to time, LIBOR.

Appears in 2 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Quartet Holdco Ltd.)

Calculation of default rate of interest. The rates referred to in Clause 7.2 are: (a) the rate applicable to the overdue principal amount immediately prior to the relevant date (but only for any unexpired part of any then current Interest PeriodPeriod applicable to it); and; (b) the applicable Margin aggregate of the Margin, the relevant Top-up Fee any Correction Rate and the Mandatory Cost (if any) plus, in respect of successive periods of any duration (including at call) up to three (3) months which the Agent may, with the consent of the Lenders, may select from time to time, : (i) LIBOR.; or

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Acquisition CORP)

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Calculation of default rate of interest. The rates referred to in Clause 7.2 are: (a) the rate of interest applicable to the overdue principal amount immediately prior to the relevant date (but only for any unexpired part of any then current Interest PeriodPeriod applicable to it); and; (b) the applicable Margin and the Mandatory Cost (if any) plus, in respect of successive periods of any duration (including at call) up to three (3) months which the Agent may, with the consent of the Lenders, may select from time to time, LIBOR.:

Appears in 1 contract

Samples: Loan Agreement (Capital Product Partners L.P.)

Calculation of default rate of interest. The rates referred to in Clause 7.2 are: (a) the rate applicable to the overdue principal amount immediately prior to the relevant date (but only for any unexpired part of any then current Interest Period); and; (b) the applicable Margin plus, in respect of successive periods of any duration (including at call) up to three (3) 3 months which the Agent may, with the consent of the Lenders, Lender may select from time to time, LIBOR.

Appears in 1 contract

Samples: Loan Agreement (TBS International LTD)

Calculation of default rate of interest. The rates referred to in Clause 7.2 are: (a) the rate applicable to the overdue principal amount immediately prior to the relevant date set forth in Clause 7.1 (but only for any unexpired part of any then current Interest Period); and (b) the applicable Margin 4% plus, in respect of successive periods of any duration (including at call) up to three LIBOR for an Interest Period of (3) months which the Agent may, with the consent of the Lenders, select from time to time, LIBOR.months;

Appears in 1 contract

Samples: Second Lien Loan Agreement (Eagle Bulk Shipping Inc.)

Calculation of default rate of interest. The rates referred to in Clause 7.2 (Default rate of interest) above are: (a) the rate applicable to the overdue principal amount immediately prior to the relevant date (but only for any unexpired part of any then current Interest PeriodPeriod applicable to it); and; (b) the applicable Margin plusrate which would have been payable if the overdue sum had, in respect during the period of successive periods of any duration (including at call) up to three (3) months which the Agent maynon-payment, with the consent constituted part of the Lenders, select from time to time, LIBORLoan in the currency of the overdue sum for successive Interest Periods.

Appears in 1 contract

Samples: Term Loan Facility Agreement (Navios Maritime Partners L.P.)

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