Interest on the Term Loan. The principal ------------------------- balance of the Term Loan outstanding from time to time shall bear interest from the Closing Date until the Term Loan Maturity Date at a rate per annum equal to the Prime Rate plus the Applicable Spread, provided that, at the option of the Company exercised -------- ---- from time to time as provided in subsection 2.05(a) of this Agreement, interest may accrue prior to the Term Loan Maturity Date on the entire outstanding balance of the Term Loan or on any portion thereof as to which no LIBOR-based Rate previously selected remains in effect at a rate per annum equal to a LIBOR-based Rate for a period of 30, 60, 90 or 180 days, plus the Applicable Spread. The Company will not be permitted to elect any LIBOR-based Rate for a period extending beyond the Scheduled Term Loan Maturity Date. After the Term Loan Maturity Date, interest will accrue on the Term Loan at a rate per annum equal to the Prime Rate plus Two Percent (2%). Prior to the Term Loan Maturity Date, interest shall be due and payable on the last Banking Day of each month in addition to the installments of principal due on such dates. After the Term Loan Maturity Date, interest shall be payable as accrued and without demand.
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Interest on the Term Loan. The principal ------------------------- balance amount of the Term Loan outstanding from time to time shall bear interest from the Closing Date until the Term Loan Maturity Date at a rate per annum equal to the Prime Rate Rate, plus the Applicable Spread, provided that, except that at the option of the Company Company, exercised -------- ---- from time to time as provided in subsection 2.05(a) Section 2.05 of this Agreement, interest may accrue prior to maturity on any portion of the Term Loan Maturity Date or on the entire outstanding balance of the Term Loan or on any portion thereof as to which no LIBOR-based Rate previously selected elected remains in effect effect, at a rate per annum equal to the LIBOR Rate (for an Interest Period selected by the Company as provided in this Agreement) plus the Applicable Spread, provided that an election of a LIBOR-based Rate for a period of 30, 60, 90 or 180 days, plus the Applicable Spread. The Company will not be permitted to elect any LIBOR-based Rate for a period an Interest Period extending beyond the Scheduled Term Loan Maturity DateDate shall be permitted only at the discretion of the Bank. After From and after the Term Loan Maturity Date, interest will accrue on and until paid in full, the Term Loan shall bear interest at a rate per annum rate equal to the Prime Rate Rate, plus the Applicable Spread, plus Two Percent (2%). Prior ) per annum, except that as to any portion of the Term Loan for which the Company may have elected a LIBOR-based Rate for an Interest Period that has not expired at the Term Loan Maturity Date, such portion shall, during the remainder of such Interest Period, bear interest at the greater of the Prime Rate, plus the Applicable Spread, plus Two Percent (2%) per annum, or the LIBOR Rate then in effect, plus the Applicable Spread, plus Two Percent (2%) per annum. Accrued interest shall be due and payable monthly on the last Banking Day of each month in addition prior to the installments of principal due on such datesTerm Loan Maturity Date. After From and after the Term Loan Maturity Date, interest on the Term Loan shall be payable as accrued and without demand.
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Samples: Credit Agreement (Dmi Furniture Inc)
Interest on the Term Loan. The principal ------------------------- balance of the Term Loan outstanding from time to time shall bear interest from the Closing Date until the Term Loan Maturity Date at a rate per annum equal to the Prime Rate plus the Applicable Spread, provided thatPROVIDED THAT, at the option of the Company exercised -------- ---- from time to time as provided in subsection 2.05(a) of this Agreement, interest may accrue prior to the Term Loan Maturity Date on the entire outstanding balance of the Term Loan or on any portion thereof as to which no LIBOR-based Rate previously selected remains in effect at a rate per annum equal to a LIBOR-based Rate for a period of 30one month, 60two months, 90 three months or 180 dayssix months, plus the Applicable Spread. The Company will not be permitted to elect any LIBOR-based Rate for a period extending beyond the Scheduled Term Loan Maturity Date. After the Term Loan Maturity Date, interest will accrue on the Term Loan at a rate per annum equal to the Prime Rate plus Two Percent (2%). Prior to the Term Loan Maturity Date, interest shall be due and payable on the last Banking Day of each month in addition to the installments of principal due on such dates. After the Term Loan Maturity Date, interest shall be payable as accrued and without demand.
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Interest on the Term Loan. The principal ------------------------- balance amount of the Term Loan and the Term Notes outstanding each day from time to time and after the Closing Date shall bear interest from the Closing Date until the Term Loan Maturity Date at a rate per annum equal to the Prime-based Rate for such day and shall be treated as a Prime Rate plus the Applicable SpreadAdvance, provided that, except that at the option of the Company Company, exercised -------- ---- from time to time as provided in subsection 2.05(a) of this Agreementherein, interest may accrue prior to maturity on any specified amount of the Term Loan Maturity Date principal balance or on the entire outstanding principal balance of the Term Loan or on any portion thereof as to which no LIBOR-based Rate previously selected elected remains in effect effect, at a rate per annum equal to a LIBOR-based Rate for Rate, provided that an election of a period of 30, 60, 90 or 180 days, plus the Applicable Spread. The Company will not be permitted to elect any LIBOR-based Rate for a period extending beyond the Scheduled Term Loan Maturity DateDate shall be permitted only at the discretion of the Required Term Lenders. After the Term Loan Maturity DateDate and until paid in full, interest will accrue on the principal amount of the Term Loan and Term Notes outstanding from time to time shall bear interest at a rate per annum rate equal to the Prime Prime-based Rate plus Two Percent two percent (22.0%). Prior ) per annum, except that as to any LIBOR Advance which is a part of the Term Loan for which the Company may have elected a LIBOR-based Rate for an Interest Period that has not expired at the Term Loan Maturity Date, such LIBOR Advance shall, during the remainder of such period, bear interest at the greater of the Prime-based Rate plus two percent (2.0%) per annum, or the LIBOR-based Rate then in effect with respect thereto plus two percent (2.0%) per annum. Each change in the rate of interest to be charged on any principal of Term Loan that bears interest at the Prime-based Rate shall be due and payable become effective on the last Banking Day date of each month change in addition to the installments of principal due on such dates. After the Term Loan Maturity Date, interest shall be payable as accrued and without demand.Prime
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Interest on the Term Loan. The aggregate principal ------------------------- balance of the Term Loan outstanding from time to time shall bear interest from the Closing Date until the Term Loan Maturity Date at a rate per annum equal to the Prime Rate plus the Applicable Spread, provided that, at the option of the Company exercised -------- ---- from time to time as provided in subsection 2.05(a) of this Agreement, interest may accrue prior to the Term Loan Maturity Date on the entire outstanding balance of the Term Loan or on any portion thereof as to which no LIBOR-based Rate previously selected remains in effect at a rate per annum equal to a LIBOR-based Rate for a period of 30one month, 60two months, 90 three months or 180 dayssix months, plus the Applicable Spread. The Company will not be permitted to elect any LIBOR-based Rate for a period extending beyond the Scheduled Term Loan Maturity Date. After the Term Loan Maturity Date, interest will accrue on the Term Loan at a rate per annum equal to the Prime Rate plus Two Percent (2%)) per annum. Prior to the Term Loan Maturity Date, interest shall be due and payable on the last Banking Day of each month in addition to calendar quarter beginning on the installments last Banking Day of principal due March, 1998 and on such datesthe last Banking Day of each successive June, September, December and March. After the Term Loan Maturity Date, interest shall be payable as accrued and without demand.
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