Common use of Interest Payments and Interest Accrual Clause in Contracts

Interest Payments and Interest Accrual. Accrued and unpaid interest under the Revolving Note and the Term Note on Floating Rate Advances shall be due and payable on the first day of each month (each an “Interest Payment Date”) and on the Termination Date, and shall be paid in the manner provided in Section 1.6(c) and Section 1.7(d). Interest shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of Advance to the Interest Payment Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Nortech Systems Inc)

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Interest Payments and Interest Accrual. Accrued and unpaid interest under the Revolving Note and the Term Note Notes on Floating Rate Advances shall be due and payable on the first day of each month (each an “Interest Payment Date”) and on the Termination Date, and shall be paid in the manner provided in Section 1.6(c) and Section 1.7(d1.4(c). Interest shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of Advance to the Interest Payment Date.

Appears in 1 contract

Samples: Credit and Security Agreement (CAPSTONE TURBINE Corp)

Interest Payments and Interest Accrual. Accrued and unpaid interest under the Revolving Note and with respect to the CapEx Term Note Advances on Floating Rate Advances shall be due and payable on the first day of each month (each an “Interest Payment Date”) and on the Termination Date, and shall be paid in the manner provided in Section 1.6(c1.4(c) and Section 1.7(d)1.11. Interest shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of Advance to the Interest Payment Date.

Appears in 1 contract

Samples: Credit and Security Agreement (CAPSTONE TURBINE Corp)

Interest Payments and Interest Accrual. Accrued and unpaid interest under the Revolving Note and the Term Note on Floating Rate Advances shall be due and payable on the first day of each month (each an "Interest Payment Date") and on the Termination Date, and shall be paid in the manner provided in Section 1.6(c) and Section 1.7(d1.4(c). Interest shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of Advance to the Interest Payment Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Southwall Technologies Inc /De/)

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Interest Payments and Interest Accrual. Accrued and unpaid interest under the Revolving Note and the Term Note on Floating Rate Advances shall be due and payable on the first day of each month (each an “Interest Payment Date”) and on the Termination Date, and shall be paid in the manner provided in Section 1.6(c) and Section Sections 1.7(d), 1.7A(d), and (1.7B(d). Interest shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of Advance to the Interest Payment Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Nortech Systems Inc)

Interest Payments and Interest Accrual. Accrued and unpaid interest under the Revolving Note and the Term Note on Floating Rate Advances shall be due and payable on the first day of each month (each an "Interest Payment Date") and on the Termination Date, and shall be paid in the manner provided in Section 1.6(c) and Section 1.7(d). Interest shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of Advance to the Interest Payment Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Emcore Corp)

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