Interest Rate and Payment of Interest. Each Loan shall bear interest on the outstanding principal amount thereof at a rate of interest designated from time to time by the Lender. Such rate shall be based upon the Lender’s cost of funds and in any event shall be no greater than the Average Prime Rate published from time to time in the Money Rate Section of The Wall Street Journal plus 5% per annum. Such interest shall be payable on the last day of the Interest Period applicable to such Loan.
Appears in 6 contracts
Samples: Revolving Loan Agreement (Liberty Mutual Agency Corp), Revolving Loan Agreement (Liberty Mutual Agency Corp), Revolving Loan Agreement (Liberty Mutual Agency Corp)
