Common use of Interest on Term Loan Clause in Contracts

Interest on Term Loan. (a) Subject to Section 2.10, the Term Loan 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 25% (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 2.09 as though such amounts constituted a Term Loan made by the Lenders hereunder.

Appears in 1 contract

Samples: Credit Agreement (Wet Seal Inc)

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Interest on Term Loan. (a) Subject to Section 2.102.05, the Term Loan 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 2512% (the “Interest Rate”), provided that, 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 2.09 2.04 as though such amounts constituted a Term Loan made by the Lenders Lender hereunder.

Appears in 1 contract

Samples: Loan Agreement (Act Teleconferencing Inc)

Interest on Term Loan. (a) Subject to Section 2.102.05, the Term Loan 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 2512% (the “Interest Rate”), provided that, 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 2.09 2.04 as though such amounts constituted a Term Loan made by the Lenders Lender hereunder.

Appears in 1 contract

Samples: Loan Agreement (Act Teleconferencing Inc)

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Interest on Term Loan. (a) Subject to Section 2.102.05, the Term Loan 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 2515% (the “Interest Rate”), provided that, 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 2.09 2.04 as though such amounts constituted a Term Loan made by the Lenders Lender hereunder.

Appears in 1 contract

Samples: Loan Agreement (Act Teleconferencing Inc)

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