Interest on Revolving Loan. The Revolving Loan shall accrue and bear interest at a rate per annum which shall at all times equal the Applicable Rate. Prior to any stated or accelerated maturity of the Revolving Loan, the Company will, on each Payment Date, pay the accrued and unpaid interest on the portion of the Revolving Loan which was not subject to a LIBOR Pricing Option. On the last day of each LIBOR Interest Period or on any earlier termination of any LIBOR Pricing Option, the Company will pay the accrued and unpaid interest on the portion of the Revolving Loan which was subject to the LIBOR Pricing Option which expired or terminated on such date. In the case of any LIBOR Interest Period longer than three months, the Company will also pay the accrued and unpaid interest on the portion of the Revolving Loan subject to the LIBOR Pricing Option having such LIBOR Interest Period at three-month intervals, the first such payment to be made on the last Banking Day of the three-month period which begins on the first day of such LIBOR Interest Period. On the stated or any accelerated maturity of the Revolving Loan, the Company will pay all accrued and unpaid interest on the Revolving Loan, including any accrued and unpaid interest on any portion of the Revolving Loan which is subject to a LIBOR Pricing Option. All payments of interest on the Revolving Loan shall be made to the Agent for the account of each Lender in accordance with such Lender's Percentage Interest therein. On the Initial Closing Date the Company agrees to pay the Lenders interest for any funds advanced to the Agent prior to the Initial Closing Date at the request of the Company to facilitate the initial closing hereunder at a rate equal to the Applicable Rate computed on the basis of the Base Rate.
Interest on Revolving Loan. The unpaid principal amount of the Revolving Loan shall bear interest at the Revolving Interest Rate.
Interest on Revolving Loan. Interest shall accrue on the principal amount of the Revolving Facility outstanding from time to time hereunder at a rate per annum equal to the Prime Rate plus the Applicable Margin calculated on the basis of a 360-day year and adjusted for the actual number of calendar days elapsed in each interest calculation period. Interest shall be payable by Borrower monthly in arrears but in no event later than the first Business Day of each calendar month, commencing March 1, 2017. Interest payments may, at the discretion of the Lender, be made (i) by application of funds in the Concentration Account as set forth in Section 2.5, (ii) by an Advance on the Revolving Facility, as set forth in Section 2.1, without any further action by Borrower, or (iii) directly by Borrower. Interest shall continue until the irrevocable payment in full in cash of the Obligations. Any accrued but unpaid interest shall be added to the Obligations and increase the principal amount outstanding hereunder on the first Business Day of each month.
Interest on Revolving Loan. The Revolving Loan shall bear -------------------------- interest on the unpaid principal balance from time to time outstanding until the date paid at a rate per annum equal to the Revolving Loan Contract Rate, such interest being payable monthly commencing September 30, 1999 and continuing thereafter on the last day of each month so long as any principal balance remains outstanding. Any increase or decrease in the interest rate resulting from a change in the Base Rate shall become effective on the date of such change. Interest shall be computed on a 360- day year basis based upon the actual number of days elapsed.
Interest on Revolving Loan. Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance made to it which is outstanding from time to time in accordance with the terms and conditions of Section 5 hereof.
Interest on Revolving Loan. Interest shall accrue on the outstanding and unpaid principal balance of the Revolving Loan at a variable rate equal to the Applicable Base Rate plus (or minus) the Margin (as hereinafter defined and as it is adjusted from time to time). The interest rate for the Revolving Loan shall be adjusted as of the date of any change in the Prime Rate (if and to the extent it changes the Applicable Base Rate) to reflect the Prime Rate then in effect on such date. Interest on the Revolving Loan shall be computed on the basis of actual days elapsed over the period of a 360-day year. As used herein, the applicable “Margin” shall be determined in accordance with the following chart: Senior Debt/Market Value of Assets Margin > 0.70 0.35% ≥ 0.65 but ≤0.70 (0.15%) < 0.65 (0.65%) Any change in the applicable Margin resulting from a change in the ratio of Borrower’s Senior Debt to Market Value of Assets shall be effective as of July 1 (for any change reflected in Borrower’s financial reporting for the period ending March 31), as of October 1 (for any change reflected in Borrower’s financial reporting for the period ending June 30), as of January 1 (for any change reflected in Borrower’s financial reporting for the period ending September 30), and as of April 1 (for any change reflected in Borrower’s financial reporting for the period ending December 31). Notwithstanding the foregoing, upon or after the occurrence and during the continuation of any Event of Default, the outstanding principal balance of the Revolving Loan shall bear interest at a variable rate per annum equal to the Default Rate until the principal balance of the Revolving Loan, all accrued interest thereon, and all costs and expenses of Bank in connection therewith, are paid in full.
Interest on Revolving Loan. Interest on all Revolving Loans (and prior to their conversion to a Voluntary Converted Loan or an Automatic Converted Loan), shall be calculated as follows:
Interest on Revolving Loan. Interest shall accrue on the outstanding and unpaid principal balance of the Revolving Loan at a variable per annum rate equal to the Term SOFR Rate, as in effect from time to time, plus a margin of 2.50% (the “Margin”). The Term SOFR Rate is currently 2.32% per annum, resulting in an initial interest rate applicable to the Revolving Loan of 4.82% per annum, which interest rate shall be adjusted as of the first U.S. Government Securities Business Day of each month based on the Term SOFR Rate, as of such date, plus the Margin, beginning August 1, 2022. The Term SOFR Rate is not necessarily the lowest rate charged by Bank on its loans. Bank will tell Borrower the current Term SOFR Rate upon Borrower’s request. The interest rate change on the Revolving Loan will not occur more often than each month. If Bank determines, in its sole discretion, that the Term SOFR Rate has become unavailable or unreliable, either temporarily, indefinitely, or permanently, during the term of the Revolving Loan, Bank may amend this Agreement and the Revolving Note by designating a substantially similar substitute index approved by the Federal Reserve Bank of New York or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto. Bank may also amend and add a positive or negative margin (percentage added to or subtracted from the substitute index value) as part of the rate determination. In making these amendments, Bank may take into consideration any then-prevailing market convention for selecting a substitute index and margin for the Term SOFR Rate. Such an amendment to the terms of this Agreement and the Revolving Note will become effective and bind Borrower sixty (60) days after Bank gives written notice to Borrower without any action or consent of Borrower, unless the Term SOFR Rate will cease to be available prior to the end of such sixty (60) days, in which case, such amendment will be effective as of the date the Term SOFR Rate ceases to be available. NOTICE: Under no circumstances will the interest rate on the Revolving Loan be more than the maximum rate allowed by applicable law.
Interest on Revolving Loan. Borrower shall pay interest to Bank on the outstanding principal amount of the Revolving Loan at a variable rate equal to the Prime Rate less one-half of one percent (0.5%). Any change in the interest rate resulting from a change in the Prime Rate shall be effective as of the opening of business on the day on which such change in the Prime Rate becomes effective.
Interest on Revolving Loan
