Interest on the Term Loans. Subject to the provisions of Section 2.8, the Term Loans shall bear interest as follows:
Interest on the Term Loans. Interest shall accrue on the unpaid principal amount of the Term Loans for the period commencing on the Closing Date until the unpaid principal amount thereof is Paid in Full, in accordance with the following:
Interest on the Term Loans. (a) Except as otherwise provided in §6.10, the Domestic Term Loans shall bear interest for each day during each Interest Period at a rate per annum equal to (i) the Base Rate plus the Applicable Margin with respect to Base Rate Loans that are Domestic Term Loans as in effect from time to time or (ii) the LIBOR Rate determined for such Interest Period plus the Applicable Margin with respect to LIBOR Rate Loans that are Domestic Term Loans as in effect from time to time. Interest shall be payable on each Interest Payment Date with respect thereto and on the Maturity Date for the Domestic Term Loans. GWI promises to pay interest on the Domestic Term Loans from the Restatement Effective Date until the Maturity Date for Domestic Term Loans in accordance with the provisions of this §3.4.
(b) [Reserved].
(c) Except as otherwise provided in §6.10, the Australian Term Loans shall bear interest for each day during each Interest Period at a rate per annum equal to the Applicable Offered Rate that are Australian Term Loans determined for such Interest Period plus the Applicable Margin with respect to Applicable Offered Rate Loans that are Australian Term Loans as in effect from time to time. Interest shall be payable on each Interest Payment Date with respect thereto and on the Maturity Date for Australian Term Loans. The Australian Borrower promises to pay interest on the Australian Term Loans from the Restatement Effective Date until the Maturity Date for Australian Term Loans in accordance with the provisions of this §3.4.
(d) Except as otherwise provided in §6.10, the UK Term Loans shall bear interest for each day during each Interest Period at a rate per annum equal to the Applicable Offered Rate that are UK Term Loans determined for such Interest Period plus the Applicable Margin with respect to Applicable Offered Rate Loans that are UK Term Loans as in effect from time to time. Interest shall be payable on each Interest Payment Date with respect thereto and on the Maturity Date for UK Term Loans. The UK Borrower promises to pay interest on the UK Term Loans from the Restatement Effective Date until the Maturity Date for UK Term Loans in accordance with the provisions of this §3.4.
Interest on the Term Loans. Subject to Section 2.3 hereof, the outstanding principal amount of the Term Loans shall bear interest at a rate per annum equal to the Adjusted Base Rate plus the Applicable Margin. Notwithstanding the foregoing, (i) any portion of the Term Loans 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 Loans shall automatically bear interest, after as well as before judgment, at the Post-Default Rate, (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 Borrowers from the Lender, the outstanding principal balance of the Term Loans 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 interest on the outstanding principal balance of the Term Loans shall be payable in arrears on the first day of each month; provided that interest accrued at the Post-Default Rate shall be payable on demand, and all accrued interest on the (x) Equipment Term Loan shall be payable on each date that any portion of the principal of the Equipment Term Loan shall be payable hereunder and on the Equipment Term Loan Maturity Date, and (y) Real Estate Term Loan shall be payable on each date that any portion of the principal of the Real Estate Term Loan shall be payable hereunder and on the Real Estate 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 Loans. Prior to the applicable LOAN TERMINATION DATE, interest shall accrue on the TERM LOANS as follows:
Interest on the Term Loans. Interest on each Term Loan shall accrue from the date on which such Term Loan was made on the outstanding principal amount thereof at the rate set forth in the Term Note in respect thereof, and shall be payable monthly in arrears as set forth therein.
Interest on the Term Loans. The outstanding principal balances of each of the Term Loans shall bear interest in accordance with the following interest rate options, as designated periodically by Borrower:
(i) at the applicable margin over the Reference Rate set forth in the Term Loan Pricing Grid;
(ii) at the applicable margin over LIBOR set forth in the Term Loan Pricing Grid; provided, however, that each LIBOR interest selection must be for a minimum amount of $1,000,000 and in integral multiples of $100,000; or
(iii) at a fixed rate per annum equal to the Treasury Rate (for a term of one, two or three years, at Borrower's option). The margins above the Reference Rate or LIBOR, as applicable (the "Interest Rate Margins"), at which the outstanding principal balances of the Line of Credit and each of the Term Loans bear interest from time to time shall be adjusted in accordance with the Line of Credit Pricing Grid and the Term Loan Pricing Grid, respectively. Until such time as Agent receives Borrower's financial statements (as required under this Agreement) evidencing Borrower's compliance with any of the Funded Debt to EBITDA ratios set forth in the applicable Pricing Grid, the Level IV Interest Rate Margin above the Reference Rate or LIBOR shall apply. Thereafter, Agent shall adjust the Interest Rate Margins in accordance with the applicable Pricing Grid on the first day of the month following each month in which Agent receives updated financial statements from Borrower pursuant to this Agreement. Such Interest Rate Margins shall be determined (i) using the most recent quarterly financial statement of Borrower available to Agent on the applicable adjustment date to determine the amount of Funded Debt and (ii) using the most recent financial statements of Borrower available to Agent on the applicable adjustment date for a four (4) consecutive quarter period to determine EBITDA.
Interest on the Term Loans. Subject to the terms of Section 2.6 relating to LIBOR Pricing Options, the Borrowers, jointly and severally, shall pay interest on the unpaid balance of the Term Loans at a per annum rate equal to the Applicable Base Rate for the Term Loans. Interest on the Term Loans shall be payable (a) quarterly in arrears on the last day of each fiscal quarter, commencing January 31, 1998, for Base Rate Loans or (b) quarterly in arrears on the last day of each fiscal quarter, for LIBOR Rate Loans, and continuing until all of the Indebtedness of the Borrowers to the Term Loan Lenders under the Term Loans shall have been paid in full.
Interest on the Term Loans. Borrower shall pay interest on the outstanding and unpaid principal balance of the Term Loan a fluctuating rate per annum equal to the Base Rate plus a margin of 0.5%. Each change in the interest rate shall take effect simultaneously with the corresponding change in the Base Rate. Interest on the Term Loan shall be calculated on the basis of a 360 day year and shall be paid in arrears on the first day of each month and on the Term Loan Maturity Date. Any principal amount not paid when due (at maturity, on acceleration or otherwise) shall bear interest thereafter until paid at the Default Rate. At Borrower's election made during the period beginning on the Revolving Credit Termination Date through two years thereafter, provided no Default or Event of Default then exists, Borrower may effect a change in the interest rate on the Term Loan to a fixed rate from the Base Rate by entering into a Swap Agreement between the Borrower and the Bank, at the rate established by exchange, through Key Capital Markets, Inc., of the obligation evidenced by the Term Loan Note for an obligation bearing interest at a fixed rate having a term that is equivalent to the term of the Term Loan. The rights and obligations of Borrower and the Bank respecting such exchange shall be set forth in a Swap Agreement to be executed between them.
Interest on the Term Loans. Subject to the terms of Section 2.6 relating to LIBOR Pricing Options, the Borrowers, jointly and severally, shall pay interest on the unpaid balance of the Term Loans at a per annum rate equal to the Applicable Base Rate for the Term Loans. Interest on the Term Loans shall be payable quarterly in arrears on the first day of the month following the end of each fiscal quarter, commencing November 1, 1999, and continuing until all of the Indebtedness of the Borrowers to the Term Loan Lenders under the Term Loans shall have been paid in full.
