Interest; Late Charges, Etc Sample Clauses
Interest; Late Charges, Etc. (a) Subject to the provisions of Subsection 4.1(d) hereof, the aggregate amount of all Loans shall bear interest at a floating and fluctuating per annum rate of interest equal to the applicable LIBOR Index plus the Applicable Margin.
(b) Accrued interest on the Loans shall be payable monthly on the first (1st) day of each month commencing on July 1, 2007.
(c) The Applicable Margin provided for in Section 4.1(a) with respect to the Loans shall for each fiscal quarter be determined by reference to the Borrowers’ ratio of Funded Debt to EBITDA as of the end of the fiscal quarter immediately preceding the delivery of the applicable Officer’s Compliance Certificate as follows: Greater than or equal to 3.5 to 1.0 2.75 % Greater than or equal to 3.0 to 1.0 , but less than 3.5 to 1.0 2.50 % Greater than or equal to 2.5 to 1.0 but less than 3.0 to 1.0 2.15 % Greater than or equal to 2.0 to 1.0 but less than 2.5 to 1.0 1.85 % Greater than or equal to 1.5 to 1.0 but less than 2.0 to 1.0 1.65 % Less than 1.50 to 1.0 1.25 % Adjustments, if any, in the Applicable Margin shall be made by the Agent on the tenth (10th) Business Day after receipt by the Agent of quarterly financial statements for the Borrowers and their Subsidiaries and the accompanying Officer’s Compliance Certificate setting forth the ratio of Funded Debt to EBITDA of the Borrowers and their Subsidiaries as of the most recent fiscal quarter end. Subject to Section 4.1(d), in the event the Borrowers fail to deliver such financial statements and certificate within the time required by Section 7.2 hereof, the Applicable Margin shall be the highest Applicable Margin set forth above until the delivery of such financial statements and certificate.
Interest; Late Charges, Etc. (a) Subject to the terms and conditions hereinafter set forth, so long as no Event of Default has occurred and is then continuing, the Loan shall bear interest at a floating and fluctuating per annum rate of interest equal to the applicable LIBOR Rate plus 1.75%.
(b) Subject to Section 11.3, upon the occurrence and during the continuance of an Event of Default, the Loan shall bear interest at a rate per annum three percent (3%) in excess of the rate then applicable to the Loan (the “Default Rate”). Interest shall continue to accrue on the Note after the filing by or against any or all of the Borrowers of any petition seeking any relief in bankruptcy or under any act or law pertaining to insolvency or debtor relief, whether state, federal or foreign.