Interest on Term Loan. (a) The outstanding amount of the Term Loan shall bear interest until repaid at the rate per annum equal to the sum of Base plus 2.00% unless timely notice is given that all or a portion of the Term Loan is or is to be converted to, a LIBOR Loan.
(b) Each portion of the Term Loan which consists of a LIBOR Loan shall bear interest at the sum of LIBOR plus 4.00%.
(c) Subject to, and in accordance with, the provisions of this Agreement, the Borrower may cause all or a part of the unpaid principal balance of the Term Loan to bear interest determined by reference to Base or LIBOR as specified from time to time by the Borrower. The Borrower shall notify the Agent, such notice to be irrevocable, at least two (2) LIBOR Business Days prior to the Drawdown Date if all or any portion of such Term Loan is to bear interest at the LIBOR Offer Rate. After the Term Loan has been made, the provisions of Section 2.5 shall apply mutatis mutandis with respect to all or any portion of such Term Loan so that the Borrower may have the same interest rate options with respect to all or any portion of the Term Loan as it would be entitled to with respect to Revolving Credit Loans.
(d) The Borrower shall not select, renew, or convert any interest rate for all or any portion of the Term Loan such that, in addition to interest at the Base plus 2.00% rate, there are more than six (6) portions of the Term Loan which are LIBOR Loans at any one time.
(e) The Borrower shall pay accrued and unpaid interest on the Term Loan in arrears as follows
(i) on the applicable Interest Payment Date for the relevant portion of the Term Loan,
(ii) on the Termination Date and on the End Date, and
(iii) following the occurrence of any Event of Default, with such frequency as may be determined by the Agent.
(f) Following the occurrence and continuance of any Event of Default, at the option of the Agent or at the instruction of the SuperMajority Lenders (determined in this case solely by reference to the Term Loan Lenders), interest shall accrue and shall be payable on the unpaid principal balance of the Term Loan at a rate which is the aggregate of the rate applicable to the unpaid principal balance of the Term Loan as provided in clause (a) herein plus three percent (3%) per annum.
Interest on Term Loan. The Credit Agreement is hereby further amended by deleting ss.
4.5.1. thereto in its entirety and substituting in lieu thereof the following new ss.4.5.1.:
Interest on Term Loan. Except as otherwise provided in Section 6.13:
(a) To the extent that all or any portion of the Term Loan bears interest at the Base Rate, the Term Loan or such portion shall bear interest at the rate per annum equal to the Base Rate plus the Applicable Margin as in effect from time to time applicable to all or any portion of the Term Loan bearing interest at the Base Rate.
(b) To the extent that all or any portion of the Term Loan bears interest at the LIBOR Rate, the Term Loan or such portion shall bear interest during the applicable Interest Period at the rate per annum equal to the LIBOR Rate determined for such Interest Period plus the Applicable Margin as in effect from time to time applicable to all or any portion of the Term Loan bearing interest at the LIBOR Rate.
(c) The Borrowers promise to pay interest on the Term Loan or any portion thereof in arrears on each Interest Payment Date with respect thereto.
Interest on Term Loan. (a) Except as otherwise provided in §4.10, the outstanding amount of the Term Loan shall bear interest during each Interest Period relating to all or any portion of the Term Loan at the following rates:
(i) To the extent that all or any portion of the Term Loan bears interest during such Interest Period at the Base Rate, the Term Loan or such portion shall bear interest during such Interest Period at a rate equal to the Base Rate for such Interest Period plus the Applicable Margin for Term Loans which are Base Rate Loans.
(ii) To the extent that all or any portion of the Term Loan bears interest during such Interest Period at the LIBOR Rate, the Term Loan or such portion shall bear interest during such Interest Period at a rate equal to the LIBOR Rate for such Interest Period plus the Applicable Margin for Term Loans which are LIBOR Rate Loans.
Interest on Term Loan. (a) Subject to Section 2.05, the Term Loans shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days) on the principal amount thereof from time to time outstanding, from the date of the making of such Term Loan until such principal amount is repaid in full, at a rate per annum equal to 12% (the “Interest Rate”), provided that such interest that has accrued during such period may be capitalized on such Interest Payment Date and added to the outstanding principal amount of the Term Loan. For purposes of this Agreement and the other Loan Documents, the amounts so capitalized hereunder shall bear interest in accordance with this Section 2.04 as though such amounts constituted a Term Loan made by the Lender hereunder.
(b) Accrued interest on the Term Loans shall be payable monthly in arrears, on the first Business Day of each month (the “Interest Payment Date”), at maturity (whether by acceleration or otherwise), and after such maturity on demand.
(c) The Borrower shall repay the entire unpaid balance of the Term Loans (including, without limitation, all capitalized interest thereon) and all accrued and unpaid interest thereon on the Termination Date.
Interest on Term Loan. The Term Loan shall bear interest from the Conversion Date to the date the Term Loan is paid in full at a rate per annum equal to the Lender Rate as determined by the Lender pursuant to Section 2.5 hereof. Interest on the Term Loan shall be paid by the Authority to the Lender, for the account of the Lender, monthly in arrears on each Interest Payment Date. Interest on the Term Loan shall be calculated on the basis of a year of 365 or 366 days, as applicable based on the actual number of days elapsed. Not less than two (2) Business Days prior to each Interest Payment Date, the Lender shall deliver to the Authority and the Trustee written notice, upon which the Authority and the Trustee may conclusively rely, of the amount of interest due and payable on the Term Loan on such Interest Payment Date; provided, however, that the failure by the Lender to provide notice of the amount of interest due and payable shall not relieve the Authority of its obligation to make payment of amounts as and when due hereunder.
Interest on Term Loan. Except as otherwise provided in 4.7 or 5.6, any Term Loan advanced hereunder shall bear interest during each Interest Period relating to all or any portion of the Term Loan at a rate to be determined, based on prevailing market rates for borrowers with similar credit profiles and ratings, and otherwise acceptable to the Administrative Agent and the Term Loan Lenders. The Borrowers jointly and severally promise to pay interest on the Term Loan or any portion thereof outstanding during each Interest Period in arrears on each Interest Payment Date applicable to such Interest Period and on the Term Loan Maturity Date. Any change in the interest rate resulting from a change in the Base Rate is to be effective at the beginning of the day of such change in the Base Rate.
Interest on Term Loan. Effective as of May 17, 1999, and except as otherwise provided in ss.8.9, the Term Loan shall bear interest during each Interest Period relating to all or any portion of the Term Loan at the rate per annum equal to the Base Rate plus five percent (5%) per annum. Notwithstanding anything to the contrary contained herein, no portion of the Term Loan shall bear interest determined by reference to the Eurodollar Rate.
Interest on Term Loan. (a) The Borrower shall pay interest on the Term Loan at LIBOR for the applicable Interest Period then in effect plus 2.00% per annum. To the extent the Term Loan is required to be converted to a Base Rate Loan hereunder, the Borrower shall pay interest thereon at the Base Rate in effect from time to time plus the Base Rate Margin.
(b) Following the occurrence of an Event of Default, and in any event after acceleration, the Borrower shall pay interest (“Default Interest”) with respect to a Eurodollar Loans, at the rate otherwise applicable for the then-current Interest Period plus an additional 2% per annum until the last day of such Interest Period, and thereafter, and with respect to a Base Rate Loan and all other Obligations under this Agreement (other than the Term Loan), at the Base Rate plus the Base Rate Margin plus 2% per annum.
Interest on Term Loan. The Prime Rate Portion of the Term --------------------- Loan shall bear interest in accordance with Section 2g, and the Libor Rate Portion of the Term Loan shall bear interest in accordance with Section 2h.
