Common use of Interest on the Term Loan Clause in Contracts

Interest on the Term Loan. The outstanding principal amount of the Term Loan shall bear interest at a rate per annum equal to the Applicable Rate. Notwithstanding the foregoing, (i) any portion of the Term Loan which is not paid when due shall automatically bear interest until paid in full at the Post-Default Rate, (ii) during the period when any Event of Default of the type described in clauses (g), (h) or (i) of Section 9.1 shall have occurred and be continuing, the outstanding principal balance of the Term Loan shall automatically bear interest, after as well as before judgment, at the Post-Default Rate, and (iii) if there shall occur and be continuing any Event of Default (other than an Event of Default of the type described in clauses (g), (h) or (i) of Section 9.1), following written notice delivered to the Borrower from the Lenders, the outstanding principal balance of the Term Loan shall bear interest, after as well as before judgment, at the Post-Default Rate during the period beginning on the date such Event of Default first occurred, and ending on the date such Event of Default is cured or waived. Accrued and unpaid interest on the outstanding principal balance of the Term Loan shall be payable quarterly in arrears on March thirty-first (31st), June thirtieth (30th), September thirtieth (30th) and December thirty-first (31st) of each year; provided, that, interest accrued at the Post-Default Rate shall be payable on demand, and all accrued and unpaid interest on any portion of the principal of the Term Loan shall be payable on each date that such portion of the principal of the Term Loan shall be payable hereunder and on the Maturity Date. All interest hereunder shall be computed on the basis of a year of 360 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day).

Interest on the Term Loan. The outstanding principal amount of the Term Loan outstanding from time to time shall bear interest until the Term Loan Maturity Date at a rate per annum equal to the Prime Rate, plus Applicable Spread II, except that at the option of the Company, exercised from time to time as provided in this Agreement, interest may accrue prior to maturity on any Term Loan Construction Advance or on the entire outstanding balance of the Term Loan as to which no LIBOR-based Rate previously elected remains in effect, at a LIBOR-based Rate (for an Interest Period selected by the Company as provided in this Agreement), plus Applicable Spread II, provided that an election of a LIBOR-based Rate for an Interest Period extending beyond the Scheduled Term Loan Maturity Date shall be permitted only at the discretion of the Bank. From and after the Term Loan Maturity Date, and until paid in full, the Term Loan shall bear interest at a rate per annum rate equal to the Prime Rate, plus Applicable Rate. Notwithstanding the foregoingSpread II, plus two percent (i2%) per annum, except that as to any portion of the Term Loan for which is the Company may have elected a LIBOR-based Rate for an Interest Period that has not paid when due shall automatically expired at the Term Loan Maturity Date, such portion shall, during the remainder of such period, bear interest until paid in full at the Post-Default greater of the Prime Rate, plus Applicable Spread II, plus two percent (ii2%) during per annum or the period when any Event LIBOR-based Rate then in effect, plus Applicable Spread II, plus two percent (2%) per annum. Each change in the rate of Default interest to be charged with reference to a Prime-based Rate shall become effective on the date of each change in the Prime Rate. Each change in the rate of interest to be charged with reference to a LIBOR-based Rate shall become effective without notice on the commencement of each Interest Period based on the London Interbank Offered Rate for that Interest Period then in effect. With respect to that portion of the type described in clauses Term Loan, if any, which bears interest at the Prime-based Rate, accrued interest shall be due and payable monthly on the E-8 last Banking Day of each month until the TERM LOAN Maturity Date. With respect to these portions of the Term Loan that bear interest LIBOR-based Rates, accrued interest shall be due and payable on the last day of each Interest Period (g), (h) or (i) of Section 9.1 shall have occurred and be continuingexcept that if the Interest Period is six months, the outstanding accrued interest shall be due on the 90th day of such Interest Period and then on the last day of such Interest Period) until the TERM LOAN Maturity Date. On the TERM LOAN Maturity Date, the entire unpaid principal balance of the Term Loan and Term Note and all unpaid, accrued interest thereon, shall automatically bear interest, be due and payable in full without demand. From and after as well as before judgment, at the Post-Default Rate, and (iii) if there shall occur and be continuing any Event of Default (other than an Event of Default of the type described in clauses (g), (h) or (i) of Section 9.1), following written notice delivered to the Borrower from the Lenders, the outstanding principal balance of the Term Loan shall bear interestMaturity Date, after as well as before judgment, at the Post-Default Rate during the period beginning on the date such Event of Default first occurred, and ending on the date such Event of Default is cured or waived. Accrued and unpaid interest on the outstanding principal balance of the Term Loan shall be payable quarterly in arrears on March thirty-first (31st), June thirtieth (30th), September thirtieth (30th) and December thirty-first (31st) of each year; provided, that, interest accrued at the Post-Default Rate shall be payable on demand, and all as accrued and unpaid interest on any portion of the principal of the Term Loan shall be payable on each date that such portion of the principal of the Term Loan shall be payable hereunder and on the Maturity Date. All interest hereunder shall be computed on the basis of a year of 360 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day)without demand."

Interest on the Term Loan. The Interest shall accrue on the unpaid principal balance of the Term Loans at a rate of 18% per annum (the "Interest Rate"), payable in arrears quarterly on March 31, June 30, September 30 and December 31 of each year beginning on the first such date after the date of this Agreement and on the Maturity Date (each date on which payment of interest is due shall be referred to as an "Interest Payment Date"), provided that so long as no Event of Default has occurred and is -------- continuing, a portion of the interest totaling no more than 1.25% of the aggregate principal amount outstanding under the Term Loans may be deferred on any Interest Payment Date and paid on the earlier of (i) the first anniversary date of the relevant Interest Payment Date upon which such interest was deferred or (ii) the Term Loan Maturity Date, provided however that the amount of -------- ------- interest so deferred shall accrue interest at the Interest Rate on a compound basis calculated quarterly and shall be payable at the same time as the interest so deferred; and provided further that upon the occurrence and during the continuance of any Event of Default, interest shall accrue on the unpaid principal amount of the Term Loan shall bear Loans, plus any interest (including deferred interest), fees and other amounts due under the Term Loans at a rate per annum equal to the Applicable Rate. Notwithstanding the foregoingInterest Rate plus 3% per annum and shall be payable from time to time in cash, (i) any portion of the Term Loan which is not paid when due shall automatically bear interest until paid in full at the Post-Default Rate, (ii) during the period when any Event of Default of the type described in clauses (g), (h) or (i) of Section 9.1 shall have occurred and be continuing, the outstanding principal balance of the Term Loan shall automatically bear interest, after as well as before judgmenton such quarterly dates or, at the Post-Default Rate, and (iii) if there shall occur and be continuing any Event of Default (other than an Event of Default option of the type described in clauses (g)Agent, (h) or (i) of Section 9.1), following written notice delivered to the Borrower from the Lenders, the outstanding principal balance of on demand. Interest on the Term Loan shall bear interest, after as well as before judgment, at the Post-Default Rate during the period beginning on the date such Event of Default first occurred, and ending on the date such Event of Default is cured or waived. Accrued and unpaid interest on the outstanding principal balance of the Term Loan shall be payable quarterly in arrears on March thirty-first (31st), June thirtieth (30th), September thirtieth (30th) and December thirty-first (31st) of each year; provided, that, interest accrued at the Post-Default Rate shall be payable on demand, and all accrued and unpaid interest on any portion of the principal of the Term Loan shall be payable on each date that such portion of the principal of the Term Loan shall be payable hereunder and on the Maturity Date. All interest hereunder Loans shall be computed on the basis of a 360-day year of 360 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day) occurring in the period for which such interest is payable. Notwithstanding anything to the contrary set forth in this Section 1.2, if a court of competent jurisdiction determines in a final order that the rate of interest payable hereunder exceeds the highest rate of interest permissible under law (the "Maximum Lawful Rate'), then so long as the Maximum Lawful Rate would be so exceeded, the rate of interest payable hereunder shall be equal to the Maximum Lawful Rate.

Interest on the Term Loan. The outstanding principal amount of the Term Loan shall bear interest at a rate per annum equal (a) Subject to the Applicable Rate. Notwithstanding the foregoing, (iSections 3:3-4(b) any portion of the Term Loan which is not paid when due shall automatically bear interest until paid in full at the Postand 3:3-Default Rate, (ii) during the period when any Event of Default of the type described in clauses (g4(c), (h) or (i) of Section 9.1 shall have occurred and be continuing, the outstanding unpaid principal balance of the Term Loan (including any capitalized PIK Interest) shall automatically bear interest, after as well as before judgment, at the Post-Default Rate, interest (determined on a 360 day year and (iii) if there shall occur and be continuing any Event of Default (other than an Event of Default of the type described in clauses (gactual days elapsed), until repaid, fixed at 16.25% per annum (h) or the "Term Loan Interest Rate"), payable as follows: (i) of Section 9.1), following written notice delivered to Accrued interest on the Borrower from the Lenders, the outstanding unpaid principal balance of the Term Loan equal to 13% per annum ("Current Pay Interest") shall bear interestbe payable monthly in arrears, after as well as before judgment, at the Post-Default Rate during the period beginning on the date such Event first Business Day of Default first occurredeach month (the "Term Loan Interest Payment Date"), and ending on the date such Event of Default is cured or waivedMaturity Date. Accrued and unpaid (ii) Subject to Section 3:3-4(c), accrued interest on the outstanding unpaid principal balance of the Term Loan in excess of Current Pay Interest (which excess is referred to herein as "PIK Interest") shall be payable quarterly as follows: (A) The Borrowers shall have the option, exercisable by irrevocable written notice by the Lead Borrower to the Administrative Agent made at least three (3) Business Days prior to the relevant Term Loan Interest Payment Date, to pay all or any part of such PIK Interest in arrears cash on March thirtythat Term Loan Interest Payment Date. (B) PIK Interest as to which the option provided in Section 3:3-first 4(a)(ii)(A) is not exercised shall be added to the then principal balance of the Term Note as of the Term Loan Interest Payment Date on which such interest would have been paid if such option had been exercised. (31stC) At the direction of the Term Lender, following the occurrence and during the continuance of any Event of Default (and whether or not Acceleration has taken place), June thirtieth the Term Lender may require PIK interest to be paid as if the option provided in Section 3:3-4(a)(ii)(A) had been timely exercised by the Lead Borrower. (30thb) In the event of the amendment of any interest rate which is or which may be applicable to the unpaid principal balance of the Revolving Credit, the Term Loan Interest Rate shall be increased by a like amount (e.g. if the Base Margin Rate is increased by one-quarter of one percent per annum or the Eurodollar Margin is increased by 25 basis points, the Term Loan Interest Rate shall likewise be increased by one-quarter of one percent per annum) and such increase shall be treated as an increase to Current Pay Interest. (c) Following the occurrence and during the continuance of any Event of Default (and whether or not Acceleration has taken place), September thirtieth (30th) and December thirty-first (31st) at the direction of each year; provided, thatthe Term Lender, interest accrued at the Post-Default Rate shall accrue and shall be payable on demand, and all accrued and the unpaid interest on any portion of the principal balance of the Term Loan shall be payable on each date that such portion of at the principal aggregate of the Term Loan shall be payable hereunder and on the Maturity Date. All interest hereunder shall be computed on the basis of a year of 360 days, and Interest Rate then in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day)effect plus three percent per annum.

Interest on the Term Loan. The outstanding principal amount of the Term Loan shall bear interest at a rate per annum equal to the Applicable Term Loan Rate. Notwithstanding the foregoing, (i) any portion of the Term Loan which is not paid when due shall automatically bear interest until paid in full at the Post-Default Rate, (ii) during the period when any Event of Default of the type described in clauses (g), ) or (h) or (i) of Section 9.1 8.1 shall have occurred and be continuing, the outstanding principal balance of the Term Loan shall automatically bear interest, after as well as before judgment, interest at the Post-Default Rate, Rate and (iii) if there shall occur and be continuing any Event of Default (other than an Event of Default of the type described in clauses (g), ) or (h) or (i) of Section 9.18.1), following written notice delivered to the Borrower from the LendersLender, the outstanding principal balance of the Term Loan shall bear interest, after as well as before judgment, interest at the Post-Default Rate during the period beginning on the date such Event of Default first occurred, and ending on the date such Event of Default is cured or waived. Accrued and unpaid interest on the outstanding principal balance of the Term Loan shall be payable quarterly in arrears on March thirty-the first (31st), June thirtieth (30th), September thirtieth (30th) and December thirty-first (31st) day of each yearmonth; provided, that, provided that interest accrued at the Post-Default Rate shall be payable on demand, and all accrued and unpaid interest on any portion of the principal of the Term Loan shall be payable on each date that such any portion of the principal of the Term Loan shall be payable hereunder and on the Term Loan Maturity Date. All interest hereunder shall be computed on the basis of a year of 360 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day).

Interest on the Term Loan. The outstanding unpaid principal amount balance from time to time of the Term Loan shall bear interest from the date the Loan is made prior to the maturity of the Term Note at a rate per annum equal to the Prime Rate plus the Applicable Rate. Notwithstanding Spread, except that at the foregoing, (i) any portion option of the Term Loan which is not paid when due shall automatically bear interest until paid Company exercised from time to time as provided in full at the Post-Default Rate, (iiSection 2.d(i) during the period when any Event of Default of the type described in clauses (g)Agreement, (h) or (i) of Section 9.1 shall have occurred and be continuing, interest may accrue prior to maturity on the entire outstanding principal balance of the Term Loan or on any portion thereof which is in excess of $1,000,000.00 and as to which no Optional Rate previously selected remains in effect at a LIBOR-based Rate for a period of 30, 90 or 180 days; provided that no Optional Rate may be elected for a period extending beyond the scheduled final maturity of the Term Loan. Those elections of a "LIBOR-based Rate" which have been made under the "Term Loan" (as that term was defined in the Prior Agreement) and which remain in effect on the date of this Agreement, shall automatically bear interestcontinue, after as well as before judgmentunder this Agreement, at to be in effect through the Post-Default Rateend of the interest period for which elected. After maturity, and (iii) if there shall occur and be continuing any Event whether scheduled maturity or maturity by virtue of Default (other than acceleration on account of the occurrence of an Event of Default of the type described in clauses (g)Default, (h) or (i) of Section 9.1), following written notice delivered to the Borrower from the Lenders, the outstanding principal balance of interest will accrue on the Term Loan shall bear interestat a rate per annum equal to the Prime Rate plus the Applicable Spread, after except that as well as before judgment, at the Post-Default Rate during the period beginning on the date such Event of Default first occurred, and ending on the date such Event of Default is cured or waived. Accrued and unpaid interest on the outstanding principal balance of the Term Loan shall be payable quarterly in arrears on March thirty-first (31st), June thirtieth (30th), September thirtieth (30th) and December thirty-first (31st) of each year; provided, that, interest accrued at the Post-Default Rate shall be payable on demand, and all accrued and unpaid interest on to any portion of the principal Loan for which the Company may have elected an Optional Rate for a period of time that has not expired at maturity, such portion shall, during the remainder of such period, bear interest at the greater of the Term Loan Prime Rate plus the Applicable Spread per annum or the Optional Rate then in effect plus two percent (2%) per annum. Prior to maturity, interest shall be due and payable on the last Banking Day of each month in addition to any installment of principal which may be due and payable on such date. After maturity, interest shall be payable on each date that such portion of the principal of the Term Loan shall be payable hereunder as accrued and on the Maturity Date. All interest hereunder shall be computed on the basis of a year of 360 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day)without demand.

Interest on the Term Loan. The Subject to Section 2.03 hereof, the outstanding principal amount of the Term Loan shall bear interest at a rate per annum equal to the Base Rate plus the Applicable Rate, but notwithstanding Section 2.03 hereof any Eurocurrency Borrowing shall be denominated in Dollars. Notwithstanding the foregoing, (i) any portion of the principal of the Term Loan which is not paid when due shall automatically bear interest until paid in full at the Post-Default Rate, (iiRate,(ii) during the period when any Event of Default of the type described in clauses (g), (h) or (i) of Section 9.1 10.1 shall have occurred and be continuing, the outstanding principal balance of the Term Loan shall automatically bear interest, after as well as before judgment, at the Post-Default Rate, and (iii) if there shall occur and be continuing any Event of Default (other than an Event of Default of the type described in clauses (g), (h) or (i) of Section 9.110.01), following written notice delivered to the Borrower from the Agent at the request of the Required Lenders, the outstanding principal balance of the Term Loan shall bear interest, after as well as before judgment, at the Post-Default Rate during the period beginning on the date such Event of Default first occurred, and ending on the date such Event of Default is cured or waived. Accrued and unpaid interest on the outstanding principal balance of the Term Loan shall be payable quarterly in arrears on March thirty-first (31st), June thirtieth (30th), September thirtieth (30th) and December thirty-first (31st) of each yearInterest Payment Date; provided, that, provided that interest accrued at the Post-Default Rate shall be payable on demand, and all accrued and unpaid interest on the Term Loan shall be payable on each date that any portion of the principal of the Term Loan shall be payable on each date that such portion of the principal of the Term Loan shall be payable hereunder and on the Maturity Date. All interest hereunder shall be computed on the basis of a year of 360 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day)hereunder.

Interest on the Term Loan. The outstanding unpaid principal amount balance from time to time of the Term Loan shall bear interest from the date the Loan is made prior to the maturity of the Term Note at a rate per annum equal to the Prime Rate plus the Applicable Rate. Notwithstanding Spread, except that at the foregoing, (i) any portion option of the Term Loan which is not paid when due shall automatically bear interest until paid Company exercised from time to time as provided in full at the Post-Default Rate, (ii3 Section 2.d(i) during the period when any Event of Default of the type described in clauses (g)Agreement, (h) or (i) of Section 9.1 shall have occurred and be continuing, interest may accrue prior to maturity on the entire outstanding principal balance of the Term Loan or on any portion thereof which is in excess of $1,000,000.00 and as to which no Optional Rate previously selected remains in effect at a LIBOR-based Rate for a period of 30, 60, 90 or 180 days; provided that no Optional Rate may be elected for a period extending beyond the scheduled final maturity of the Term Loan. Those elections of a "LIBOR-based Rate" which have been made under the "Term Loan" as outstanding prior to the Ninth Amendment and which remain in effect on the date of the Ninth Amendment, shall automatically bear interestcontinue, after as well as before judgmentunder this Agreement, at to be in effect through the Post-Default Rateend of the interest period for which elected. After maturity, and (iii) if there shall occur and be continuing any Event whether scheduled maturity or maturity by virtue of Default (other than acceleration on account of the occurrence of an Event of Default of the type described in clauses (g)Default, (h) or (i) of Section 9.1), following written notice delivered to the Borrower from the Lenders, the outstanding principal balance of interest will accrue on the Term Loan shall bear interest, after as well as before judgment, at a rate per annum equal to the Post-Default Prime Rate during plus the period beginning on the date such Event of Default first occurred, and ending on the date such Event of Default is cured or waived. Accrued and unpaid interest on the outstanding principal balance of the Term Loan shall be payable quarterly in arrears on March thirty-first Applicable Spread plus two percent (31st2%), June thirtieth (30th), September thirtieth (30th) and December thirty-first (31st) of each year; provided, that, interest accrued at the Post-Default Rate shall be payable on demand, and all accrued and unpaid interest on except that as to any portion of the principal Loan for which the Company may have elected an Optional Rate for a period of time that has not expired at maturity, such portion shall, during the remainder of such period, bear interest at the greater of the Term Loan Prime Rate plus the Applicable Spread plus two percent (2%) per annum or the Optional Rate then in effect plus two percent (2%) per annum. Prior to maturity, interest shall be due and payable on the last Banking Day of each month in addition to any installment of principal which may be due and payable on such date. After maturity, interest shall be payable on each date that such portion of the principal of the Term Loan shall be payable hereunder as accrued and on the Maturity Date. All interest hereunder shall be computed on the basis of a year of 360 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day)without demand.

Interest on the Term Loan. The Subject to Section 2.3 hereof, the outstanding principal amount of the Term Loan shall bear interest at a rate per annum equal to the Base Rate plus the Applicable Rate. Notwithstanding the foregoing, (i) any portion of the principal of the Term Loan which is not paid when due shall automatically bear interest until paid in full at the Post-Default Rate, (ii) during the period when any Event of Default of the type described in clauses (g), (h) or (i) of Section 9.1 10.1 shall have occurred and be continuing, the outstanding principal balance of the Term Loan shall automatically bear interest, after as well as before judgment, at the Post-Default Rate, and (iii) if there shall occur and be continuing any Event of Default (other than an Event of Default of the type described in clauses (g), (h) or (i) of Section 9.110.1), following written notice delivered to the Borrower from the Agent at the request of the Required Lenders, the outstanding principal balance of the Term Loan shall bear interest, after as well as before judgment, at the Post-Default Rate during the period beginning on the date such Event of Default first occurred, and ending on the date such Event of Default is cured or waived. Accrued and unpaid interest on the outstanding principal balance of the Term Loan shall be payable quarterly in arrears on March thirty-first (31st), June thirtieth (30th), September thirtieth (30th) and December thirty-first (31st) of each yearInterest Payment Date; provided, that, provided that interest accrued at the Post-Default Rate shall be payable on demand, and all accrued and unpaid interest on the Term Loan shall be payable on each date that any portion of the principal of the Term Loan shall be payable on each date that such portion of the principal of the Term Loan shall be payable hereunder and on the Maturity Date. All interest hereunder shall be computed on the basis of a year of 360 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day)hereunder.