Interest Rate Provisions. The Borrower shall pay interest in respect of the outstanding unpaid principal amount of the Base Rate Loans and LIBOR Rate Loans, it being understood that, subject to the provisions of this Agreement, the Borrower may select different Interest Rate Options and different Interest Periods to apply to different Borrowings at any time outstanding and may convert to or renew one or more Interest Rate Options with respect to all or any portion of any Borrowing (subject to minimum amounts in a principal amount equal to $1,000,000 or any whole multiple of $500,000 in excess thereof); provided that there shall not be at any one time outstanding more than five (5) Borrowings of LIBOR Rate Loans, and provided, further, that if an Event of Default or Default has occurred and is continuing, the Borrower may not request, convert to, or renew any LIBOR Rate Loans. If at any time the designated rate applicable to any Term Loan made by any Lender exceeds the Maximum Rate, the rate of interest on such Lender’s Term Loan shall be limited to the Maximum Rate.
Interest Rate Provisions. The interest rate provisions of each of the Obligations are subject to the condition that in no event shall the amount paid or agreed to be paid to the holder of such Obligation which is deemed interest under applicable law exceed the maximum rate of interest on the unpaid principal balance of such Obligation allowed by applicable law, if any, (the "Maximum Allowable Rate"). For purposes hereof, "applicable law" shall mean the law in effect on the date hereof, except that if there is a change in such law which results in a higher Maximum Allowable Rate being applicable to the Obligation subject thereto, then such Obligation shall be governed by such amended law from and after its effective date. In the event that fulfillment of any provisions of any Obligation results in the interest rate thereunder being in excess of the Maximum Allowable Rate, then amount to be paid thereunder resulting in an excessive interest rate shall automatically be reduced to eliminate such excess. If notwithstanding the foregoing, the holder of such Obligation receives an amount which under applicable law would cause the interest rate thereunder to exceed the Maximum Allowable Rate, the portion thereof which would be excessive shall automatically be applied to and deemed a prepayment of the unpaid principal balance under such Obligation and not a payment of interest.
Interest Rate Provisions. The Borrower shall pay interest in respect of the outstanding unpaid principal amount of the Loans, it being understood that, subject to the provisions of this Agreement, the Borrower may select different Interest Rate Options and different Interest Periods to apply to different Borrowings at any time outstanding and may convert to or renew one or more Interest Rate Options with respect to all or any portion of any Borrowing (subject to minimum amounts set forth in Sections 2.1(b), 2.2(b), and 2.5(b)); provided that there shall not be at any one time outstanding more than five (5) Borrowings of Term SOFR Rate Loans; provided, further, that if a Default or an Event of Default has occurred and is continuing, (x) the Borrower may not request, convert to, or renew any Term SOFR Rate Loans, and (y) immediately upon the occurrence and during the continuation of an Event of Default under clause (a) or (l) of Section 9.1 or immediately after written demand by the Administrative Agent (or by the Required Lenders to the Administrative Agent) after the occurrence and during the continuation of any other Event of Default, any Term SOFR Rate Loans will convert to Base Rate Loans. If at any time the designated rate applicable to any Loan made by any Lender exceeds the Maximum Rate, the rate of interest on such Lender’s Loan shall be limited to such Lender’s Maximum Rate.
Interest Rate Provisions. The Interest Rate under the Mortgage shall be the Prime Rate plus 10.00% per annum, calculated half-yearly not in advance. You will pay Interest to the Bank on the Debt at the interest rate and on the terms set out in the Loan Commitment Documents.
Interest Rate Provisions. The Borrower shall pay interest in respect of the outstanding unpaid principal amount of the Daily Simple SOFR Rate Loans, Term SOFR Rate Loans, Quoted Rate Loans and ABR Loans, it being understood that, subject to the provisions of this Agreement, the Borrower may select different Interest Rate Options and different Interest Periods or Quoted Rate Periods to apply to different Borrowings at any time outstanding and may convert to or renew one or more Interest Rate Options with respect to all or any portion of any Borrowing (subject to minimum amounts set forth in Sections 2.1(b) and 2.2(b)); provided that (x) there shall not be at any one time outstanding more than seven Borrowings of Term SOFR Rate Loans and (y) if a Default or an Event of Default has occurred and is continuing, the Borrower may not request, convert to, or renew any Term SOFR Rate Loans. If at any time the designated rate applicable to any Loan made by any Lender exceeds the Maximum Rate, the rate of interest on such Lender’s Loan shall be limited to such Lender’s Maximum Rate.
Interest Rate Provisions. The Borrower shall pay interest in respect of the outstanding unpaid principal amount of the Base Rate Loans and LIBOR Rate Loans, it being understood that, subject to the provisions of this Agreement, the Borrower may select different Interest Rate Options and different Interest Periods to apply to different Borrowings at any time outstanding and may convert to or renew one or more Interest Rate Options with respect to all or any portion of any Borrowing (subject to minimum amounts set forth in Section 2.2(b) with respect to Revolving Loans or the applicable Incremental Term Loan Funding Agreement, or with respect to Term Loans subject to being in integral multiples of $1,000,000); provided, that there shall not be at any one time outstanding more than ten (10) Borrowings of LIBOR Rate Loans; provided, further, that if an Event of Default has occurred and is continuing, the Borrower may not request, convert to, or renew any LIBOR Rate Loans. If at any time the designated rate applicable to any Loan made by any Lender exceeds the Maximum Rate, the rate of interest on such Lender’s Loan shall be limited to such Lender’s Maximum Rate.
Interest Rate Provisions. 22 7.1. Interest on Fixed Notes.. . . . . . . . . . . . . . . . . . . 22 7.2. Interest on Floating Notes. . . . . . . . . . . . . . . . . . 22 7.3. Interest Rate Lock. . . . . . . . . . . . . . . . . . . . . . 23 7.4. Past Due Payments . . . . . . . . . . . . . . . . . . . . . . 23
Interest Rate Provisions. 93 9.08. Illegality.....................................................95 9.09.
Interest Rate Provisions. Notwithstanding anything set forth in this Agreement, Borrower covenants and agrees that the Borrower's Liabilities shall bear interest at the Default Rate in accordance with the Loan Agreement from and including July 2, 2007.
Interest Rate Provisions. (a) Lender is entitled, after consultation with Borrower, to increase the Applicable COF Margin applicable, as described above, if Lender determines, in its reasonable discretion, that such change is necessary to maintain an appropriate margin over the Lender’s cost of funds.
(b) The Lender will not substitute another index for the Cost of Funds Rate unless, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, it becomes unlawful for Lender to charge interest utilizing the Cost of Funds Rate. In that case, or if the Cost of Funds Rate is otherwise no longer available to Lender: (i) Lender will notify Borrower that Lender is no longer able to utilize the Cost of Funds Rate, (ii) the Lender will substitute an alternate index for the Cost of Funds Rate, which alternate index, in Lender’s reasonable discretion most closely resembles the Cost of Funds Rate, and (iii) Lender will then charge interest on the outstanding principal balance of this Note, going forward, at the alternate index plus a margin, which margin the Lender will establish in its reasonable discretion. The Lender will then charge interest on the outstanding principal balance of this Note based on that alternate index, plus a margin established by Lender, until such time, if any, that the Lender may again lawfully charge interest at the Cost of Funds Rate plus the Applicable COF Margin, as provided above.
