Common use of Interest Rate; Advances Clause in Contracts

Interest Rate; Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to Prime Rate plus one percent (1.00%); provided, however, when Borrower is at or above the Liquidity Threshold, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one-half percent (0.50%). Such interest shall in any event be payable monthly, in arrears, in accordance with Section 2.3(f) below.

Appears in 3 contracts

Samples: Loan and Security Agreement (Aspen Aerogels Inc), Loan and Security Agreement (Aspen Aerogels Inc), Loan and Security Agreement (Aspen Aerogels Inc)

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Interest Rate; Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to Prime Rate plus one percent (1.00%); provided, however, when Borrower is at or above the Liquidity Threshold, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one-half percent (0.50%). Such interest shall in any event be payable monthly, in arrears, in accordance with Section 2.3(f) below.” and inserting in lieu thereof the following:

Appears in 2 contracts

Samples: Loan and Security Agreement (Aspen Aerogels Inc), Loan and Security Agreement (Aspen Aerogels Inc)

Interest Rate; Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to Prime Rate plus one percent (1.00%); provided, however, when Borrower is at or above the Liquidity Threshold, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one-half percent (0.50%). Such which interest shall in any event be payable monthly, in arrears, in accordance with Section 2.3(f) below.” 5 The Loan Agreement shall be amended by deleting the following text appearing as Section 6.2(a)(i) thereof:

Appears in 2 contracts

Samples: Loan and Security Agreement (Aspen Aerogels Inc), Loan and Security Agreement (Aspen Aerogels Inc)

Interest Rate; Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one two percent (1.002.00%); provided, however, when Borrower is at or above the Liquidity Thresholdthat during a Performance Pricing Period, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one-half one percent (0.501.00%). Such interest shall in any event be payable monthly, in arrears, in accordance with Section 2.3(f) below.

Appears in 1 contract

Samples: Loan and Security Agreement (Delcath Systems Inc)

Interest Rate; Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the aggregate of the Prime Rate plus one percent (1.00%); provided, however, when Borrower is at or above the Liquidity Threshold, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus and one-half percent percentage point (0.501.50%). Such , which interest shall in any event be payable monthly.” 2 The Loan Agreement shall be amended by inserting the following definition in Section 13.1 thereof, in arrears, in accordance with Section 2.3(f) below.appropriate alphabetical order:

Appears in 1 contract

Samples: Loan Modification and Forbearance Agreement (Energy Focus, Inc/De)

Interest Rate; Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to Prime Rate plus one percent (1.00%); provided, however, when Borrower is at or above the Liquidity Threshold, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one-half percent two percentage points (0.502.00%). Such , which interest shall in any event be payable monthly, in arrears, in accordance with Section 2.3(f) below.” and inserting in lieu thereof the following: (a) Interest Rate;

Appears in 1 contract

Samples: Loan Modification Agreement (Luna Innovations Inc)

Interest Rate; Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one percent and one-quarter percentage points (1.001.25%); provided, however, when Borrower is at or above the Liquidity Thresholdthat during a Performance Pricing Period, subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one-half one percent (0.501.00%). Such , which interest shall in any event be payable monthly, in arrears, in accordance with Section 2.3(f) below.

Appears in 1 contract

Samples: Loan and Security Agreement (Bridgeline Digital, Inc.)

Interest Rate; Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one percent and one-quarter percentage points (1.001.25%); provided, however, when Borrower is at or above the Liquidity Threshold, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one-half percent (0.50%). Such which interest shall in any event be payable monthly, in arrears, in accordance with Section 2.3(f) below.” The Loan Agreement shall be amended by deleting the following text appearing as Sections 2.3 (f), (g) and (h) thereof:

Appears in 1 contract

Samples: Loan Modification Agreement (Glowpoint, Inc.)

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Interest Rate; Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one percent and one-quarter percentage points (1.001.25%); provided, however, when Borrower is at or above the Liquidity Thresholdthat during a Performance Pricing Period, subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one-half one percent (0.501.00%). Such , which interest shall in any event be payable monthly, in arrears, in accordance with Section 2.3(f) below.” and inserting in lieu thereof the following:

Appears in 1 contract

Samples: Loan Modification Agreement (Bridgeline Digital, Inc.)

Interest Rate; Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to Prime Rate plus one percent (1.00%); provided, however, when Borrower is at or above the Liquidity Threshold, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one-half of one percent (0.50%). Such , which interest shall in any event be payable monthly, in arrears, in accordance with Section 2.3(f) below.” 2 The Loan Agreement shall be amended by deleting the following, appearing as Section 2.4(d) thereof, in its entirety:

Appears in 1 contract

Samples: Loan Modification Agreement (Caliper Life Sciences Inc)

Interest Rate; Advances. Subject to Section 2.3(b2.4(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to Prime Rate plus one percent and three-quarters percentages points (1.001.75%); provided, however, when Borrower is at or ) above the Liquidity ThresholdPrime Rate; provided that during a Streamline Period, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to one and one-quarter percentage points (1.25%) above the Prime Rate plus one-half percent (0.50%). Such Rate, which interest shall in any event be payable monthly, in arrears, monthly in accordance with Section 2.3(f2.3(d) below.

Appears in 1 contract

Samples: Loan and Security Agreement (ChyronHego Corp)

Interest Rate; Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to Prime Rate plus one percent (1.00%); provided, however, when Borrower is at or above the Liquidity Threshold, the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the Prime Rate plus one-half percent two percentage points (0.502.00%). Such , which interest shall in any event be payable monthly, in arrears, in accordance with Section 2.3(f) below.” and inserting in lieu thereof the following:

Appears in 1 contract

Samples: Loan Modification Agreement (Glowpoint, Inc.)

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