Determination of Interest Rate for Loans. Except as hereinafter provided, the interest rate charged by the Lenders in respect to the Loans shall be either (1) the applicable LIBOR Rate pursuant to a Notice of Conversion or Continuation effective on the first day of the Interest Period, plus seven percent (7.00%), or, (2) if such LIBOR Rate is not available or published, or at Borrowers’ option, the Base Rate.
Appears in 2 contracts
Samples: Credit Agreement (Coconut Palm Acquisition Corp.), Credit Agreement (Coconut Palm Acquisition Corp.)
Determination of Interest Rate for Loans. Except as hereinafter provided, the interest rate charged by the Lenders in respect to the Loans shall be either (1) the applicable LIBOR Rate pursuant to a Notice of Conversion or Continuation effective on the first day of the Interest Period, plus seven twelve percent (7.0012.00%), or, (2) if such LIBOR Rate is not available or published, or at Borrowers’ ' option, the Base Rate."
Appears in 1 contract
Samples: Agreement and Forbearance Agreement (Equity Media Holdings CORP)
Determination of Interest Rate for Loans. Except as hereinafter provided, the interest rate charged by the Lenders in respect to the Loans shall be either (1) the applicable LIBOR Rate pursuant to a Notice of Conversion or Continuation effective on the first day of the Interest Period, plus seven ten percent (7.0010.00%), or, (2) if such LIBOR Rate is not available or published, or at Borrowers’ ' option, the Base Rate."
Appears in 1 contract
Samples: Agreement and Forbearance Agreement (Equity Media Holdings CORP)
