INTEREST ON THE REVOLVING NOTES. Prior to maturity and subject to the incentive pricing provisions contained in Section 2.15 of this AGREEMENT, interest on the principal balance outstanding on the REVOLVING NOTES shall accrue at a rate equal to the one month LIBOR RATE plus 310 hundred basis points, as more particularly set forth in the REVOLVING NOTES. The interest rate on the REVOLVING NOTES shall initially be set two (2) EURODOLLAR BUSINESS DAYS prior to the date of the REVOLVING NOTES, and shall adjust on the 8th day of each month thereafter. After the applicable LOAN TERMINATION DATE, whether by acceleration or otherwise, interest shall accrue on the REVOLVING NOTES at a rate equal to the one month LIBOR RATE plus nine hundred ten (910) basis points.
INTEREST ON THE REVOLVING NOTES. Interest on Advances under the Revolving Notes shall accrue from the respective dates of the Advances until the respective dates of repayment of the Advances, in each case at an annual rate of the Prime Rate plus 2.5%, provided, however, that, notwithstanding any provision of any Loan Document, the interest on outstanding Advances under the Revolving Notes shall not be less than 7.25%, in each case calculated on the basis of a 360-day year and for the actual number of calendar days elapsed in each interest calculation period. Interest accrued on each Advance under the Revolving Notes shall be due and payable on the first day of each calendar month in accordance with the procedures provided for in Section 2.5 and Section 2.9, commencing on the first day of the first calendar month after the Closing Date, and continuing until the later of the expiration of the Term and the full performance and irrevocable payment in full in cash of the Obligations (other than Unmatured Surviving Obligations) and termination of this Agreement.
INTEREST ON THE REVOLVING NOTES. Prior to maturity and subject to the incentive pricing provisions contained in Section 2.15 of this AGREEMENT, the interest rate on the REVOLVING LOAN is subject to change from time to time based on changes in the Three (3) Month LIBOR RATE. The LIBOR RATE will be adjusted and determined without notice to BORROWER as set forth herein, as of the date of the REVOLVING NOTES and on the first (1st) day of each calendar month hereafter ("Interest Rate Change Date") to the Three (3) Month LIBOR RATE which is published in The Wall Street Journal as the reported rate for the date that is two London Banking Days prior to each Interest Rate Change Date; the published LIBOR RATE will be rounded upwards to the next higher one one hundredth (1/100th) of one percent (1%). The interest rate change will not occur more often than each month on the first (1st) day of each month. The Index currently is ______% per annum. The interest rate to be applied to the unpaid principal balance of the REVOLVING LOAN will be calculated using a rate of 4.5 percentage points over the Index, adjusted if necessary for any minimum and maximum rate limitations described below, resulting in an initial rate of _____% per annum based on a year of 360 days. NOTICE: Under no circumstances will the interest rate on this loan be less than 5.5% per annum (including after application of the incentive pricing provided for in Section 2.15 below) or more than the maximum rate allowed by applicable law. Interest on the REVOLVING LOAN shall be payable monthly, in arrears, on the first day of each month. Upon or after the occurrence and during the continuation of any EVENT OF DEFAULT or after the LOAN TERMINATION DATE applicable to the REVOLVING LOAN, the principal amount of the REVOLVING LOAN shall bear interest at a rate per annum equal to six percent (6%) above the interest rate that would otherwise apply under this Section 2.10.
INTEREST ON THE REVOLVING NOTES. Prior to maturity and subject to the incentive pricing provisions contained in Section 2.15 of this AGREEMENT and the minimum interest rate of 5.5% applicable to the REVOLVING LOAN, interest on the principal balance outstanding on the REVOLVING NOTES shall accrue at a rate equal to the greater of (1) the 90 day LIBOR RATE plus 450 hundred basis points and (ii) 5.5%. The interest rate on the REVOLVING NOTES shall initially be set on the date of the REVOLVING NOTES, and shall adjust on the 1st day of every third month thereafter to a rate equal to the greater of (i) the 90 day LIBOR RATE plus 450 basis points or (ii) 5.5%. If the date of the REVOLVING NOTES is a day other than the first day of the month, then the initial 90 day LIBOR RATE shall be that 90 day LIBOR RATE in effect on the date of the REVOLVING NOTES. After the applicable LOAN TERMINATION DATE, whether by acceleration or otherwise, interest shall accrue on the REVOLVING NOTES at a rate equal to the 90 day LIBOR RATE plus one thousand fifty (1050) basis points. Interest on the REVOLVING NOTES shall be paid monthly, in arrears.
INTEREST ON THE REVOLVING NOTES. Subject to Section 3.7, Interest on outstanding Revolving Advances under the Revolving Notes shall be payable monthly in arrears on the first day of each calendar month commencing May 1, 2004 at an annual rate equal to the Prime Rate plus one and three-quarters percent (1.75%) calculated on the basis of a 360-day year and for the actual number of calendar days elapsed in each interest calculation period. Interest accrued on each Revolving Advance under the Revolving Notes shall be due and payable on the first day of each calendar month, in accordance with the procedures provided for in Section 2.9, commencing May 1, 2004 and continuing until the later of the expiration of the Term and the full performance and indefeasible payment in full in cash of the Obligations and termination of this Agreement.
INTEREST ON THE REVOLVING NOTES. Subject to Section 3.6, interest on outstanding Advances under the Revolving Notes shall be due and payable monthly in arrears on the first day of each calendar month, commencing on the first day of the first calendar month occurring after the Closing and continuing until the later of the expiration of the Term with respect thereto and the full performance and indefeasible payment in full in cash of the Obligations with respect thereto and termination of this Agreement, at an annual rate equal to the Prime Rate, plus the Applicable Margin with respect to Revolving Loans in effect from time to time, calculated on the basis of a 360-day year and for the actual number of calendar days elapsed in each interest calculation period. Interest accrued on each Advance under the Revolving Notes shall be due and payable in accordance with the procedures provided for in Section 2.9. All payments to Agent in respect of Obligations under the Revolving Facility shall, in the absence of an Event of Default, be applied to such Obligations.
INTEREST ON THE REVOLVING NOTES. Prior to maturity and subject to the incentive pricing provisions contained in Section 2.15 of this AGREEMENT, interest on the REVOLVING NOTES shall accrue and be calculated using a rate of 3.1% over the Index, adjusted if necessary for any minimum and maximum rate limitations described below, resulting in an initial rate of 5.10% per annum based on a year of 360 days. Interest on the REVOLVING NOTES is computed on an actual/360 basis; that is, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under the REVOLVING NOTES is computed using this method. NOTICE: With respect to the REVOLVING NOTES, under no circumstances will the Index be less than two percent (2%) per annum. The principal balance of the REVOLVING NOTES will bear interest after maturity and after the occurrence and during the continuance of an EVENT OF DEFAULT at a variable per annum rate equal to the Index plus six percent (6%), but not to exceed the maximum rate allowed by law. Borrower will pay interest quarterly, in arrears, on the first calendar day of each quarter. Accrued and unpaid interest must also be paid on the LOAN TERMINATION DATE applicable to the REVOLVING LOAN, whether by acceleration or otherwise. The interest rate change will not occur more often than each quarter on the INTEREST RATE CHANGE DATE applicable to the REVOLVING LOAN.
INTEREST ON THE REVOLVING NOTES. Prior to maturity and subject to the incentive pricing provisions contained in Section 2.15 of this AGREEMENT, the REVOLVING NOTES shall bear interest at a rate per annum equal to 3.100% plus the greater of (i) the three month LIBOR RATE or (ii) two percent (2%). The interest rate on the REVOLVING NOTES shall initially be set two (2) EURODOLLAR BUSINESS DAYS prior to the date of the REVOLVING NOTES, and shall adjust on the 8th day of each third month thereafter to the rate calculated above. After the applicable LOAN TERMINATION DATE, whether by acceleration or otherwise, interest shall accrue on the REVOLVING NOTES at a rate equal to the rate calculated above plus six percent (6%).
INTEREST ON THE REVOLVING NOTES. Prior to maturity and subject to the incentive pricing provisions contained in Section 2.15 of this AGREEMENT, interest on the REVOLVING NOTES shall accrue and be calculated using a rate of 2.8% over the Index, adjusted if necessary for any minimum and maximum rate limitations described below, resulting in an initial rate of 3.054% per annum based on a year of 360 days. Interest on the REVOLVING NOTES is computed on an actual/360 basis; that is, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under the REVOLVING NOTES is computed using this method. The principal balance of the REVOLVING NOTES will bear interest after maturity and after the occurrence and during the continuance of an EVENT OF DEFAULT at a variable per annum rate equal to the Index plus six percent (6%), but not to exceed the maximum rate allowed by law. Borrower will pay interest quarterly, in arrears, on the first calendar day of each quarter. Accrued and unpaid interest must also be paid on the LOAN TERMINATION DATE applicable to the REVOLVING LOAN, whether by acceleration or otherwise. The interest rate change will not occur more often than each quarter on the INTEREST RATE CHANGE DATE applicable to the REVOLVING LOAN.
INTEREST ON THE REVOLVING NOTES. Interest on the outstanding principal balance of all Advances under the Revolving Notes shall be payable in cash monthly in arrears on the first day of each calendar month at an annual rate equal to the greater of (i) the Prime Rate plus one-half of one percent (0.50%) and (ii) four and three-quarters of one percent (4.75%), calculated on the basis of a 360-day year and for the actual number of calendar days elapsed in each interest calculation period. Interest accrued on each Advance under the Revolving Notes shall be due and payable in accordance with the procedures provided for in Section 2.10, commencing on November 1, 2004 and continuing until the later of the expiration of the Term and the full performance and indefeasible payment in full in cash of the Obligations (other than any indemnity obligations under the Loan Documents that are not then due and payable or for which any events or claims that would give rise thereto are not, to the knowledge of any Credit Party, then pending) and termination of this Agreement.
