Formula Advances. Except as set forth in Section 2.3(b), the Formula Advances shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to the greater of: (A) the Prime Rate then in effect; or (B) 3.50%.
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Samples: Loan and Security Agreement (Casper Sleep Inc.), Loan and Security Agreement (Casper Sleep Inc.)
Formula Advances. Except as set forth in Section 2.3(b), the Formula Advances shall bear interest, on the outstanding daily balance thereof, ; at a variable annual rate equal to the greater of: (A) the Prime Rate then in effect; or (B) 3.50%.
Appears in 2 contracts
Samples: Loan and Security Agreement (Casper Sleep Inc.), Loan and Security Agreement (Casper Sleep Inc.)
Formula Advances. Except as set forth in Section 2.3(b), the Formula Advances shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to the greater of: of (A) 1.50% above the Prime Rate then in effect; , or (B) 3.505.50%.
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Formula Advances. Except as set forth in Section 2.3(b0(b), the Formula Advances shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to the greater of: (A) 1.90% above the Prime Rate then in effect; or (B) 3.505.65%.
Appears in 1 contract
Samples: Loan and Security Agreement (Igi Laboratories, Inc)
Formula Advances. Except as set forth in Section 2.3(b), the Formula Advances shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to the greater of: (A) 0.20% above the Prime Rate then in effect; effect or (B) 3.504.50%.
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Formula Advances. Except as set forth in Section 2.3(b), the Formula Advances shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to the greater of: (A) the Prime Rate then in effect; or (B) 3.50%.
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