Interest; Default Interest. All interest shall be payable monthly in arrears on the first day of the month and on demand.
Interest; Default Interest. (a) Except as provided in subsection 2.5(d) hereof, (i) the Revolving Credit Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to (y) in the case of ABR Loans, the Alternate Base Rate in effect from time to time, plus the Applicable ABR Margin in effect for such day, and (z) in the case of Eurodollar Rate Loans, if permitted hereunder at such time, the Eurodollar Rate determined for such day, plus the Applicable Eurodollar Margin in effect for such day, and (ii) the Swingline Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect from time to time, plus the Applicable ABR Margin in effect for such day.
Interest; Default Interest. 26 2.6 Termination, Reduction or Increase of Aggregate Commitment..... 28 2.7 Maturity Date of Commitment; Extension......................... 31 2.8 Computation of Interest and Fees............................... 32 2.9
Interest; Default Interest. (a) Except as provided in subsection 2.5(b) hereof, (i) the Revolving Credit Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to (y) in the case of Prime Rate Loans, the Prime Rate in effect from time to time and (z) in the case of Eurodollar Rate Loans, if permitted hereunder at such time, the Eurodollar Rate determined for such day plus the Applicable Eurodollar Margin in effect for such day, and (ii) the Swingline Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the Prime Rate in effect from time to time.
Interest; Default Interest. (a) Except as provided in Section 2.5(d) hereof, (i) the Revolving Credit Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to (y) in the case of ABR Loans, the Alternate Base Rate in effect from time to time, plus the Applicable ABR Margin in effect for such day (provided that, notwithstanding the table below, on any day that the Alternate Base Rate is determined pursuant to the second proviso of the definition of "Alternate Base Rate" in Section 1.1 hereof, the Applicable ABR Margin for such day shall be 0%), and (z) in the case of LIBOR Rate Loans, the LIBOR Rate determined for the Interest Period applicable thereto, plus the Applicable LIBOR Margin in effect on the first day of such Interest Period, and (ii) the Swingline Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect from time to time, plus the Applicable ABR Margin in effect for such day, plus 0.25%.
Interest; Default Interest. (a) (i) the Revolving Credit Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to (y) in the case of ABR Loans, the Alternate Base Rate in effect from time to time, plus the Applicable ABR Margin, and (z) in the case of Eurodollar Rate Loans, if permitted hereunder at such time, the Eurodollar Rate determined for each Interest Period then in effect, plus the Applicable Eurodollar Margin, and (ii) the Swingline Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the Prime Rate in effect from time to time, plus the Applicable ABR Margin.
Interest; Default Interest. The rate at which each Fixed Rate Loan shall bear interest, and the maturity of such Loan, will be specified in the relevant Loan Advice, Floating Rate Loans will bear interest on a daily basis as specified herein (including the related Loan Advices). Any Loan or other Obligation for which no interest has been stated in the relevant Loan Advice or other documentation shall, unless otherwise agreed by the parties in writing, bear interest at the same rates as, and for all purposes of this Agreement and the Note shall be treated as, a Floating Rate Loan. As used herein and in Schedule I hereto, (i) the term "Prime Rate" means the rate per annum announced by the Bank in New York City as its "prime rate" from time to time, which rate shall be determined daily, (ii) the term "Federal Funds Rate" means the average rate per annum quoted to the Bank at 11:00 a.m. (New York City time) on each day for overnight Federal Funds transactions arranged by three New York Federal Funds brokers selected by the Bank, and (iii) the term "Base Rate" means the higher of the Prime Rate and a rate per annum 1% in excess of the Federal Funds Rate. All interest shall be computed on the basis of the number of days elapsed and a 360-day year. Unpaid interest accrued on each Loan shall be due at maturity and, prior thereto, monthly on the same day each month as the day of the month on which the applicable Loan was made, or on such other monthly basis as the Bank may specify by at least ten days' written notice to the Customer. Each repayment or prepayment of principal shall be accompanied by all accrued and unpaid interest thereon. Notwithstanding the preceding sentences of this paragraph, any principal, interest, fee or other Obligation (including reimbursement of any drawing under a Letter of Credit) not paid when due shall bear interest, payable on demand, at a floating rate per annum which is two percentage points above the Base Rate. Notwithstanding the foregoing, the Customer shall not be required to pay interest for any period at a rate exceeding the maximum rate permitted by law. If the amount of interest payable by the Customer for any period is reduced pursuant to the preceding sentence, the amount of interest payable for each succeeding period shall be increased to the maximum rate permitted by law until the amount of such reduction has been received by the Bank.
Interest; Default Interest. All interest shall be ---------------------------- payable monthly in arrears on the first day of the month and on the Termination Date.
Interest; Default Interest. The interest payable hereunder shall be calculated on the basis of a year of 365 or 366 days, as applicable, and for the actual number of days elapsed. If any of the amounts payable by the Grantors hereunder, including the amounts payable under Section 16 hereof, are not paid when due, such amounts shall accrue interest, from the date such amounts became due until they are paid in full, at the rate of five percent (5%) per annum. Any interest hereunder shall be calculated on the basis of a year of 365 or 366 days, as applicable, and for the actual number of days elapsed. Any rate of interest hereunder shall not exceed the maximum rate of interest permitted under applicable law.
Interest; Default Interest. Except as provided in subsection 2.5(d) hereof, (i) the Revolving Credit Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to (y) in the case of ABR Loans, the Alternate Base Rate in effect from time to time, plus the Applicable ABR Margin in effect for such day, and (z) in the case of Eurodollar Rate Loans, if permitted hereunder at such time, the Eurodollar Rate determined for each Interest Period then in effect, plus the Applicable Eurodollar Margin in effect for such day, and (ii) the Swingline Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect from time to time, plus the Applicable ABR Margin in effect for such day. The Applicable Margins and the Applicable Commitment Rate shall be determined by reference to the Senior Debt Rating in accordance with the following table and the provisions of this subsection 2.5(b):
