Common use of Interest Rates and Interest Payments Clause in Contracts

Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, each Base Rate Loan shall bear interest on the outstanding principal amount thereof for each day until paid at an annual rate equal to the Adjusted Base Rate. So long as any Event of Default has occurred and is continuing, each Base Rate Loan shall bear interest on the outstanding principal amount thereof for each until it is paid, at an annual rate equal to Five Percent (5%) over and above the Adjusted Base Rate. Such interest shall be payable monthly in arrears on the last day of each calendar month commencing October 31, 2009 and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each Base Rate Loan shall bear interest, payable on demand, for each day until paid at an annual rate equal to Five Percent (5%) over and above the Adjusted Base Rate. (b) So long as no Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual rate equal to the LIBOR Rate. So long as any Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual rate equal to Five Percent (5%) over and above the LIBOR Rate. Such interest shall be payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be payable on the last day of each three (3) month period during such Interest Period and on the last day of such Interest Period, and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each LIBOR Loan shall bear interest, payable on demand, for each day until paid, at an annual rate equal to Five Percent (5%) over and above the higher of (i) the LIBOR Rate applicable to such LIBOR Loan for the immediately preceding Interest Period or (ii) the Adjusted Base Rate. (c) Lender shall determine each interest rate applicable to the Base Rate Loans and LIBOR Loans hereunder and its determination thereof shall be conclusive in the absence of manifest error.

Appears in 4 contracts

Samples: Credit Agreement (Laclede Gas Co), Credit Agreement (Laclede Group Inc), Credit Agreement (Laclede Gas Co)

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Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, each Base Rate Daily LIBOR Loan shall bear interest on the outstanding principal amount thereof for each day until paid at an annual rate equal to the Adjusted Base Daily LIBOR Rate. So long as any Event of Default has occurred and is continuing, each Base Rate Daily LIBOR Loan shall bear interest on the outstanding principal amount thereof for each until it is paid, at an annual rate equal to Five Percent (5%) over and above the Adjusted Base Daily LIBOR Rate. Such interest shall be payable monthly in arrears on the last day of each calendar month commencing October 31, 2009 2010 and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each Base Rate Daily LIBOR Loan shall bear interest, payable on demand, for each day until paid at an annual rate equal to Five Percent (5%) over and above the Adjusted Base Daily LIBOR Rate. (b) So long as no Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual rate equal to the LIBOR Rate. So long as any Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual rate equal to Five Percent (5%) over and above the LIBOR Rate. Such interest shall be payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be payable on the last day of each three (3) month period during such Interest Period and on the last day of such Interest Period, and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each LIBOR Loan shall bear interest, payable on demand, for each day until paid, at an annual rate equal to Five Percent (5%) over and above the higher of (i) the LIBOR Rate applicable to such LIBOR Loan for the immediately preceding Interest Period or (ii) the Adjusted Base Daily LIBOR Rate. (c) Lender shall determine each interest rate applicable to the Base Rate Daily LIBOR Loans and LIBOR Loans hereunder and its determination thereof shall be conclusive in the absence of manifest error. (d) If Lender determines (which determination shall be final and conclusive) that, by reason of circumstances affecting the Eurodollar market generally, deposits in dollars (in the applicable amounts) are not being offered to banks in the Eurodollar market for the selected term, or adequate means do not exist for ascertaining the LIBOR Rate or Daily LIBOR Rate, then Lender shall give notice thereof to Borrower, and thereafter, until Lender notifies Borrower that the circumstances giving rise to such suspension no longer exist, (i) the availability of the LIBOR Rate or Daily LIBOR Rate shall be suspended, and (ii) the interest rate for all Loans then bearing interest based on the LIBOR Rate or Daily LIBOR Rate shall be converted at the expiration of the then current LIBOR Interest Period(s) with respect to any LIBOR Loan, and immediately with respect to any Daily LIBOR Loan, to Prime Rate Loans bearing interest at the Prime Rate plus the Applicable Margin.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Laclede Gas Co), Revolving Credit Agreement (Laclede Group Inc)

Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, each Base Rate Daily Reset Loan shall bear interest on the outstanding principal amount thereof for each day until paid at an annual rate equal to the Adjusted Base Daily Reset LIBOR Rate. So long as any Event of Default has occurred and is continuing, each Base Rate Daily Reset Loan shall bear interest on the outstanding principal amount thereof for each until it is paid, at an annual rate equal to Five Percent (5%) over and above the Adjusted Base Daily Reset LIBOR Rate. Such interest shall be payable monthly in arrears on the last day of each calendar month commencing October 31, 2009 2010 and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each Base Rate Daily Reset Loan shall bear interest, payable on demand, for each day until paid at an annual rate equal to Five Percent (5%) over and above the Adjusted Base Daily Reset LIBOR Rate. (b) So long as no Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual rate equal to the LIBOR Rate. So long as any Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual rate equal to Five Percent (5%) over and above the LIBOR Rate. Such interest shall be payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be payable on the last day of each three (3) month period during such Interest Period and on the last day of such Interest Period, and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each LIBOR Loan shall bear interest, payable on demand, for each day until paid, at an annual rate equal to Five Percent (5%) over and above the higher of (i) the LIBOR Rate applicable to such LIBOR Loan for the immediately preceding Interest Period or (ii) the Adjusted Base Daily Reset LIBOR Rate. (c) Lender shall determine each interest rate applicable to the Base Rate Daily Reset Loans and LIBOR Loans hereunder and its determination thereof shall be conclusive in the absence of manifest error.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Laclede Group Inc), Revolving Credit Agreement (Laclede Gas Co)

Interest Rates and Interest Payments. (a) So long as no Event ------------------------------------ of Default has occurred and is continuing, each Base Rate Prime Loan shall bear interest on the outstanding principal amount thereof for each day until paid at an annual a rate per annum equal to the Adjusted Base Prime Rate. So long as any Event of Default has occurred and is continuing, each Base Rate Prime Loan shall bear interest on the outstanding principal amount thereof for each until it is paid, at an annual a rate per annum equal to Five Percent (5%) over and above the Adjusted Base Prime Rate. Such interest shall be payable monthly in arrears on the last day of each calendar month commencing October 31February 28, 2009 2002 and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each Base Rate Prime Loan shall bear interest, payable on demand, for each day until paid at an annual a rate per annum equal to Five Percent (5%) over and above the Adjusted Base Prime Rate. (b) So long as no Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual a rate per annum equal to the LIBOR Rate. So long as any Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual a rate per annum equal to Five Percent (5%) over and above the LIBOR Rate. Such interest shall be payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be payable on the last day of each three (3) month period during such Interest Period and on the last day of such Interest Period, and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each LIBOR Loan shall bear interest, payable on demand, for each day until paid, at an annual a rate per annum equal to Five Percent (5%) over and above the higher of (i) the LIBOR Rate applicable to such LIBOR Loan for the immediately preceding Interest Period or (ii) the Adjusted Base Prime Rate. (c) Lender shall determine each interest rate applicable to the Base Rate Prime Loans and LIBOR Loans hereunder and its determination thereof shall be conclusive in the absence of manifest error.

Appears in 1 contract

Samples: Loan Agreement (Laclede Gas Co)

Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, each Revolving Credit Base Rate Loan shall bear interest on the outstanding principal amount thereof thereof, for each day from the date such Revolving Credit Loan is made until paid it becomes due, at an annual a rate per annum equal to the Adjusted Base Rate. So long as any Event of Default has occurred and is continuing, each Revolving Credit Base Rate Loan shall shall, unless otherwise agreed in writing by each Lender, bear interest on the outstanding principal amount thereof thereof, for each day from the date such Revolving Credit Loan is made until it is paidbecomes due, at an annual a rate per annum equal to Five Three Percent (53%) over and above the Adjusted Base Rate. Such interest shall be due and payable monthly in arrears on the last day of each calendar month during the Revolving Credit Period commencing October 31on the first such date after such Revolving Credit Base Rate Loan is made, 2009 and at the maturity of the Note Revolving Credit Notes (whether by reason of acceleration or otherwise). From and after the maturity of the NoteRevolving Credit Notes, whether by reason of acceleration or otherwise, each Revolving Credit Base Rate Loan shall bear interest, due and payable on demand, for each day until paid at an annual a rate per annum equal to Five Three Percent (53%) over and above the Adjusted Base Rate. (b) So long as no Event of Default has occurred and is continuing, each Revolving Credit LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual a rate per annum equal to the applicable LIBOR Rate. So long as any Event of Default has occurred and is continuing, each Revolving Credit LIBOR Loan shall, unless otherwise agreed in writing by each Lender, bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at a rate per annum equal to Three Percent (3%) over and above the applicable LIBOR Rate. Interest shall be due and payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be due and payable at the end of the first three (3) months of such Interest Period and on the last day of such Interest Period, and at the maturity of the Revolving Credit Notes (whether by reason of acceleration or otherwise). From and after the maturity of the Revolving Credit Notes, whether by reason of acceleration or otherwise, each Revolving Credit LIBOR Loan shall bear interest, due and payable on demand, for each day until paid, at a rate per annum equal to Three Percent (3%) over and above the higher of (i) the LIBOR Rate for the immediately preceding Interest Period applicable to such Revolving Credit LIBOR Loan or (ii) the Adjusted Base Rate. (c) So long as no Event of Default has occurred and is continuing, the from time to time outstanding principal balance of each Swing Line Loan shall bear interest prior to the maturity of the Swing Line Note (whether by reason of acceleration or otherwise) at a rate per annum equal to the Adjusted Base Rate. So long as any Event of Default has occurred and is continuing, the from time to time outstanding principal balance of each Swing Line Loan shall, unless otherwise agreed in writing by each Lender, bear interest prior to the maturity of the Swing Line Note (whether by reason of acceleration or otherwise) at a rate per annum equal to Three Percent (3%) per annum over and above the Adjusted Base Rate. Such interest shall be due and payable monthly on the last day of each month, commencing on the first such date after such Swing Line Loan is made, and at the maturity of the Swing Line Note (whether by reason of acceleration or otherwise). From and after the maturity of the Swing Line Note (whether by reason of acceleration or otherwise), the from time to time outstanding principal balance of each Swing Line Loan shall bear interest at a rate per annum equal to Three Percent (3%) per annum over and above the Adjusted Base Rate and be due and payable on demand. (d) So long as no Event of Default has occurred and is continuing, each Term Base Rate Loan shall bear interest on the outstanding principal amount thereof for each day until paid at a rate per annum equal to the Adjusted Base Rate. So long as any Event of Default has occurred and is continuing, each Term Base Rate Loan shall, unless otherwise agreed to in writing by each Lender, bear interest on the outstanding principal amount thereof for each day until paid at a rate per annum equal to Three Percent (3%) over and above the Adjusted Base Rate. Such interest shall be due and payable monthly on the last day of each month commencing December 31, 2008, and at the maturity of the XxXxxxx Electronics Term Loan Notes (whether by reason of acceleration or otherwise) or the maturity of the XxXxxxx Acquisition Term Loan Notes (whether by reason of acceleration or otherwise), as the case may be. From and after the maturity of the XxXxxxx Electronics Term Loan Notes (whether by reason of acceleration or otherwise), each Term Base Rate Loan which is a portion of the XxXxxxx Electronics Term Loan shall bear interest, due and payable on demand, for each day until paid at a rate per annum equal to Three Percent (3%) over and above the Adjusted Base Rate. From and after the maturity of the XxXxxxx Acquisition Term Loan Notes (whether by reason of acceleration or otherwise), each Term Base Rate Loan which is a portion of the XxXxxxx Acquisition Term Loan shall bear interest, due and payable on demand, for each day until paid at a rate per annum equal to Three Percent (3%) over and above the Adjusted Base Rate. (e) So long as no Event of Default has occurred and is continuing, each Term LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual a rate per annum equal to Five the applicable LIBOR Rate. So long as any Event of Default has occurred and is continuing, each Term LIBOR Loan shall, unless otherwise agreed to in writing by each Lender, bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at a rate per annum equal to Three Percent (53%) over and above the applicable LIBOR Rate. Such interest Interest shall be due and payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be payable on at the last day end of each the first three (3) month period during months of such Interest Period and on the last day of such Interest Period, and at the maturity of the Note XxXxxxx Electronics Term Loan Notes (whether by reason of acceleration or otherwise) or the maturity of the XxXxxxx Acquisition Term Loan Notes (whether by reason of acceleration or otherwise), as the case may be. From and after the maturity of the NoteXxXxxxx Electronics Term Loan Notes, whether by reason of acceleration or otherwise, each Term LIBOR Loan which is a portion of the XxXxxxx Electronics Term Loan shall bear interest, payable on demand, for each day until paid, at an annual a rate per annum equal to Five Three Percent (53%) over and above the higher of (i) the LIBOR Rate applicable to such LIBOR Loan for the immediately preceding Interest Period applicable to such Term LIBOR Loan or (ii) the Adjusted Base Rate. From and after the maturity of the XxXxxxx Acquisition Term Loan Notes, whether by reason of acceleration or otherwise, each Term LIBOR Loan which is a portion of the XxXxxxx Acquisition Term Loan shall bear interest, payable on demand, for each day until paid, at a rate per annum equal to Three Percent (3%) over and above the higher of (i) the LIBOR Rate for the immediately preceding Interest Period applicable to such Term LIBOR Loan or (ii) the Adjusted Base Rate. (cf) Lender The Agent shall determine each interest rate applicable to the Base Rate Loans and LIBOR Loans hereunder and its determination thereof shall be conclusive in the absence of manifest demonstrable error.

Appears in 1 contract

Samples: Loan Agreement (Labarge Inc)

Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, the from time to time outstanding principal balance of each Base Rate Loan Advance shall bear interest on prior to the outstanding principal amount thereof for each day until paid Maturity Date (whether by reason of acceleration or otherwise) at an annual rate equal to the Adjusted Base Rate. So long as any Event of Default has occurred and is continuing, the from time to time outstanding principal balance of each Base Rate Loan shall Advance shall, unless otherwise agreed in writing by each Lender, bear interest on prior to the outstanding principal amount thereof for each until it is paid, Maturity Date (whether by reason of acceleration or otherwise) at an annual rate equal to Five Percent (5%) 1% over and above the Adjusted Base Rate. Such interest shall be due and payable monthly in arrears on the last first day of each calendar month month, commencing October 31on the first such date after such Base Rate Advance is made, 2009 and at on the maturity of the Note Maturity Date (whether by reason of acceleration or otherwise). From and after the maturity of the Note, Maturity Date (whether by reason of acceleration or otherwise), the from time to time outstanding principal balance of each Base Rate Loan shall bear interest, payable on demand, for each day until paid interest at an annual rate equal to Five Percent (5%) 1% over and above the Adjusted Base RateRate and be due and payable on demand. (b) So long as no Event of Default has occurred and is continuing, the from time to time outstanding principal balance of each LIBOR Loan Advance shall bear interest on prior to the outstanding principal amount thereof for each Interest Period applicable thereto Maturity Date (whether by reason of acceleration or otherwise) at an annual rate equal to the applicable LIBOR Rate. So long as any Event of Default has occurred and is continuing, the from time to time outstanding principal balance of each LIBOR Loan Advance shall bear interest on prior to the outstanding principal amount thereof for each Interest Period applicable thereto Maturity Date (whether by reason of acceleration or otherwise) at an annual rate equal to Five Percent (5%) 2% per annum over and above the applicable LIBOR Rate. Such interest shall be due and payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be due and payable on at the last day end of each the first three (3) month period during months of such Interest Period and on the last day of such Interest Period, and at on the maturity of the Note Maturity Date (whether by reason of acceleration or otherwise). From and after the maturity of the Note, Maturity Date (whether by reason of acceleration or otherwise), the from time to time outstanding principal balance of each LIBOR Loan Advance shall bear interest, payable on demand, for each day until paid, interest at an annual a rate per annum equal to Five Percent (5%) 2% over and above the higher of (i) the applicable LIBOR Rate applicable to such LIBOR Loan for the immediately preceding Interest Period or (ii) the Adjusted Base Rateand be due and payable on demand. (c) Lender Agent shall determine each interest rate applicable to the Base Rate Loans and LIBOR Loans hereunder Loan under this Agreement and its determination thereof shall be conclusive in the absence of manifest demonstrable error.

Appears in 1 contract

Samples: Term Loan Agreement (Hennessy Advisors Inc)

Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, each Revolving Credit Base Rate Loan shall bear interest on the outstanding principal amount thereof thereof, for each day from the date such Revolving Credit Loan is made until paid it becomes due, at an annual a rate per annum equal to the Adjusted Base Rate. So long as any Event of Default has occurred and is continuing, each Revolving Credit Base Rate Loan shall shall, unless otherwise agreed in writing by each Lender, bear interest on the outstanding principal amount thereof thereof, for each day from the date such Revolving Credit Loan is made until it is paidbecomes due, at an annual a rate per annum equal to Five Three Percent (53%) over and above the Adjusted Base Rate. Such interest shall be due and payable monthly in arrears on the last day of each calendar month during the Revolving Credit Period commencing October 31on the first such date after such Revolving Credit Base Rate Loan is made, 2009 and at the maturity of the Note Revolving Credit Notes (whether by reason of acceleration or otherwise). From and after the maturity of the NoteRevolving Credit Notes, whether by reason of acceleration or otherwise, each Revolving Credit Base Rate Loan shall bear interest, due and payable on demand, for each day until paid at an annual a rate per annum equal to Five Three Percent (53%) over and above the Adjusted Base Rate. (b) So long as no Event of Default has occurred and is continuing, each Revolving Credit LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual a rate per annum equal to the applicable LIBOR Rate. So long as any Event of Default has occurred and is continuing, each Revolving Credit LIBOR Loan shall, unless otherwise agreed in writing by each Lender, bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at a rate per annum equal to Three Percent (3%) over and above the applicable LIBOR Rate. Interest shall be due and payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be due and payable at the end of the first three (3) months of such Interest Period and on the last day of such Interest Period, and at the maturity of the Revolving Credit Notes (whether by reason of acceleration or otherwise). From and after the maturity of the Revolving Credit Notes, whether by reason of acceleration or otherwise, each Revolving Credit LIBOR Loan shall bear interest, due and payable on demand, for each day until paid, at a rate per annum equal to Three Percent (3%) over and above the higher of (i) the LIBOR Rate for the immediately preceding Interest Period applicable to such Revolving Credit LIBOR Loan or (ii) the Adjusted Base Rate. (c) So long as no Event of Default has occurred and is continuing, each Term Base Rate Loan shall bear interest on the outstanding principal amount thereof for each day until paid at a rate per annum equal to the Adjusted Base Rate. So long as any Event of Default has occurred and is continuing, each Term Base Rate Loan shall, unless otherwise agreed to in writing by each Lender, bear interest on the outstanding principal amount thereof for each day until paid at a rate per annum equal to Three Percent (3%) over and above the Adjusted Base Rate. Such interest shall be due and payable monthly on the last day of each month commencing February 29, 2004, and at the maturity of the Term Loan Notes (whether by reason of acceleration or otherwise). From and after the maturity of the Term Loan Notes, whether by reason of acceleration or otherwise, each Term Base Rate Loan shall bear interest, due and payable on demand, for each day until paid at a rate per annum equal to Three Percent (3%) over and above the Adjusted Base Rate. (d) So long as no Event of Default has occurred and is continuing, each Term LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual a rate per annum equal to Five the applicable LIBOR Rate. So long as any Event of Default has occurred and is continuing, each Term LIBOR Loan shall, unless otherwise agreed to in writing by each Lender, bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at a rate per annum equal to Three Percent (53%) over and above the applicable LIBOR Rate. Such interest Interest shall be due and payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be payable on at the last day end of each the first three (3) month period during months of such Interest Period and on the last day of such Interest Period, and at the maturity of the Note Term Loan Notes (whether by reason of acceleration or otherwise). From and after the maturity of the NoteTerm Loan Notes, whether by reason of acceleration or otherwise, each Term LIBOR Loan shall bear interest, payable on demand, for each day until paid, at an annual a rate per annum equal to Five Three Percent (53%) over and above the higher of (i) the LIBOR Rate applicable to such LIBOR Loan for the immediately preceding Interest Period applicable to such Term LIBOR Loan or (ii) the Adjusted Base Rate. (ce) Lender The Agent shall determine each interest rate applicable to the Base Rate Loans and LIBOR Loans hereunder and its determination thereof shall be conclusive in the absence of manifest demonstrable error.

Appears in 1 contract

Samples: Loan Agreement (Labarge Inc)

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Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, each Base Rate Prime Loan shall bear interest on the outstanding principal amount thereof thereof, for each day from the date such Loan is made until paid it becomes due (whether by reason of maturity, acceleration or otherwise), at an annual a rate per annum equal to the Adjusted Base Prime Rate. So long as any Event of Default has occurred and is continuing, each Base Rate Prime Loan shall shall, unless otherwise agreed in writing by Bank, bear interest on the outstanding principal amount thereof thereof, for each day from the date such Loan is made until it is paidbecomes due (whether by reason of maturity, acceleration or otherwise), at an annual a rate per annum equal to Five Two Percent (52%) over and above the Adjusted Base Prime Rate. Such interest shall be payable monthly in arrears on the last first (1st) day of each calendar month commencing October 31on the first such date after such Prime Loan is made, 2009 and at the maturity of the Note Notes (whether by reason of acceleration or otherwise). From and after the maturity of the NoteNotes, whether by reason of acceleration or otherwise, each Base Rate Prime Loan shall bear interest, payable on demand, for each day until paid at an annual a rate per annum equal to Five Two Percent (52%) over and above the Adjusted Base Prime Rate. (b) So long as no Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual a rate per annum equal to the applicable LIBOR Rate. So long as any Event of Default has occurred and is continuing, each LIBOR Loan shall shall, unless otherwise agreed in writing by Bank, bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual a rate per annum equal to Five Two Percent (52%) over and above the applicable LIBOR Rate. Such interest Interest shall be payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be payable on at the last day end of each the first three (3) month period during months of such Interest Period and on the last day of such Interest Period, and at the maturity of the Note Notes (whether by reason of acceleration or otherwise). From and after the maturity of the NoteNotes, whether by reason of acceleration or otherwise, each LIBOR Loan shall bear interest, payable on demand, for each day until paid, at an annual a rate per annum equal to Five Two Percent (52%) over and above the higher of (i) the LIBOR Rate applicable to such LIBOR Loan for the immediately preceding Interest Period applicable to such LIBOR Loan or (ii) the Adjusted Base Prime Rate. (c) Lender Bank shall determine each interest rate applicable to the Base Rate Loans and LIBOR Loans hereunder under this Agreement and its determination thereof shall be conclusive in the absence of manifest error.

Appears in 1 contract

Samples: Revolving Credit Agreement (Cpi Corp)

Interest Rates and Interest Payments. (a) So long as no ------------------------------------ Event of Default has occurred and is continuing, each Base Rate Prime Loan shall bear interest on the outstanding principal amount thereof for each day until paid at an annual a rate per annum equal to the Adjusted Base Prime Rate. So long as any Event of Default has occurred and is continuing, each Base Rate Prime Loan shall bear interest on the outstanding principal amount thereof for each until it is paid, at an annual a rate per annum equal to Five Percent (5%) over and above the Adjusted Base Prime Rate. Such interest shall be payable monthly in arrears on the last day of each calendar month commencing October 31June 30, 2009 2002 and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each Base Rate Prime Loan shall bear interest, payable on demand, for each day until paid at an annual a rate per annum equal to Five Percent (5%) over and above the Adjusted Base Prime Rate. (b) So long as no Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual a rate per annum equal to the LIBOR Rate. So long as any Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual a rate per annum equal to Five Percent (5%) over and above the LIBOR Rate. Such interest shall be payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be payable on the last day of each three (3) month period during such Interest Period and on the last day of such Interest Period, and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each LIBOR Loan shall bear interest, payable on demand, for each day until paid, at an annual a rate per annum equal to Five Percent (5%) over and above the higher of (i) the LIBOR Rate applicable to such LIBOR Loan for the immediately preceding Interest Period or (ii) the Adjusted Base Prime Rate. (c) Lender shall determine each interest rate applicable to the Base Rate Prime Loans and LIBOR Loans hereunder and its determination thereof shall be conclusive in the absence of manifest error.

Appears in 1 contract

Samples: Revolving Credit Agreement (Laclede Gas Co)

Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, each Base Rate Prime Loan shall bear interest on the outstanding principal amount thereof for each day until paid at an annual rate equal to the Adjusted Base Prime Rate. So long as any Event of Default has occurred and is continuing, each Base Rate Prime Loan shall bear interest on the outstanding principal amount thereof for each until it is paid, at an annual rate equal to Five Percent (5%) over and above the Adjusted Base Prime Rate. Such interest shall be payable monthly in arrears on the last day of each calendar month commencing October August 31, 2009 2005 and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each Base Rate Prime Loan shall bear interest, payable on demand, for each day until paid at an annual rate equal to Five Percent (5%) over and above the Adjusted Base Prime Rate. (b) So long as no Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual rate equal to the LIBOR Rate. So long as any Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual rate equal to Five Percent (5%) over and above the LIBOR Rate. Such interest shall be payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be payable on the last day of each three (3) month period during such Interest Period and on the last day of such Interest Period, and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each LIBOR Loan shall bear interest, payable on demand, for each day until paid, at an annual rate equal to Five Percent (5%) over and above the higher of (i) the LIBOR Rate applicable to such LIBOR Loan for the immediately preceding Interest Period or (ii) the Adjusted Base Prime Rate. (c) Lender shall determine each interest rate applicable to the Base Rate Prime Loans and LIBOR Loans hereunder and its determination thereof shall be conclusive in the absence of manifest error.

Appears in 1 contract

Samples: Revolving Credit Agreement (Laclede Group Inc)

Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, each Base Rate Prime Loan shall bear interest on the outstanding principal amount thereof thereof, for each day from the date such Loan is made until paid it becomes due, at an annual a rate per annum equal to the Adjusted Base Prime Rate. So long as any Event of Default has occurred and is continuing, each Base Rate Prime Loan shall shall, unless otherwise agreed in writing by each Bank, bear interest on the outstanding principal amount thereof thereof, for each day from the date such Loan is made until it is paidbecomes due, at an annual a rate per annum equal to Five Two Percent (52%) over and above the Adjusted Base Prime Rate. Such interest shall be payable monthly in arrears on the last first (1st) day of each calendar month commencing October 31on the first such date after such Prime Loan is made, 2009 and at the maturity of the Note Notes (whether by reason of acceleration or otherwise). From and after the maturity of the NoteNotes, whether by reason of acceleration or otherwise, each Base Rate Prime Loan shall bear interest, payable on demand, for each day until paid at an annual a rate per annum equal to Five Two Percent (52%) over and above the Adjusted Base Prime Rate. (b) So long as no Event of Default has occurred and is continuing, each LIBOR Loan shall bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual a rate per annum equal to the applicable LIBOR Rate. So long as any Event of Default has occurred and is continuing, each LIBOR Loan shall shall, unless otherwise agreed in writing by each Bank, bear interest on the outstanding principal amount thereof for each Interest Period applicable thereto at an annual a rate per annum equal to Five Two Percent (52%) over and above the applicable LIBOR Rate. Such interest Interest shall be payable for each Interest Period on the last day thereof, unless the duration of such Interest Period exceeds three (3) months, in which case such interest shall be payable on at the last day end of each the first three (3) month period during months of such Interest Period and on the last day of such Interest Period, and at the maturity of the Note Notes (whether by reason of acceleration or otherwise). From and after the maturity of the NoteNotes, whether by reason of acceleration or otherwise, each LIBOR Loan shall bear interest, payable on demand, for each day until paid, at an annual a rate per annum equal to Five Two Percent (52%) over and above the higher of (i) the LIBOR Rate applicable to such LIBOR Loan for the immediately preceding Interest Period applicable to such LIBOR Loan or (ii) the Adjusted Base Prime Rate. (c) Lender The Agent shall determine each interest rate applicable to the Base Rate Loans and LIBOR Loans hereunder under this Agreement and its determination thereof shall be conclusive in the absence of manifest error.

Appears in 1 contract

Samples: Revolving Credit Agreement (Cpi Corp)

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