Interest Rates and Payments. The Issuer covenants and agrees that the Principal Amount shall bear interest at a rate equal to 8.19% per annum (the “PIK Interest”), which shall accrue beginning on the date of this Note (the “Date of Issuance”), and shall accrue quarterly in arrears on the last day of each quarter (the “PIK Interest Accrual Date”) during the term hereof and on the Date of Maturity, and without any action on the part of the Issuer and the Holder shall be payable on and added to the Principal Amount, with the first such PIK Interest Accrual Date where the PIK Interest accruing from the Date of Issuance shall be added to the Principal Amount being June 30, 2011.
Interest Rates and Payments. (a) Interest shall be charged and paid on the Loan from the date of the initial advance until the Loan is paid at a rate equal to the LIBO Rate plus two hundred fifty basis points (2.5%), to be adjusted at the beginning of each Interest Period.
Interest Rates and Payments. (a) Each Loan (other than a Loan to be made in an Optional Currency or a Swingline Loan) shall bear interest prior to maturity at a rate per annum equal to such of the following as the Borrowers, at their option, shall select in accordance with Section 3.5: (i) the Prime Rate plus the Applicable Margin, which rate shall fluctuate as and when said Prime Rate or said Applicable Margin shall change, or (ii) the LIBOR Rate plus the Applicable Margin, determined in the case of LIBOR Loans as of the date of the commencement of the applicable Interest Period. Each LIBOR Loan made in an Optional Currency shall bear interest prior to maturity at a rate per annum equal to the LIBOR Rate plus the Applicable Margin, determined as of the date of the commencement of the applicable Interest Period. Each Swingline Loan shall bear interest prior to maturity at a rate per annum equal to the Prime Rate plus the Applicable Margin, which rate shall fluctuate as and when said Prime Rate or Applicable Margin shall change. Accrued interest on all Prime Loans shall be payable monthly in arrears on the first day of each calendar month during the Term, commencing on the first such date after such Loan is made. Accrued interest on all LIBOR Loans shall be payable in arrears on the last day of the Interest Period applicable to each such LIBOR Loan, and if any such Interest Period exceeds three months, all accrued and unpaid interest shall be due and payable on the date three months following the commencement of such Interest Period as well. Interest on the principal amount of each Loan made in an Optional Currency shall be paid by the Borrowers in such Optional Currency. In addition, all accrued interest on all Loans shall be payable on the last day of the Term hereof, whether by reason of acceleration or otherwise.
Interest Rates and Payments. 4 SECTION 2.2
Interest Rates and Payments. The unpaid principal amount of Term Loans from time to time outstanding hereunder shall bear interest in accordance with this Section 2.1.
Interest Rates and Payments. (a) Loans shall bear interest --------------------------- on the outstanding principal amount thereof at a rate per annum equal to the Prime Rate as in effect from time to time. Interest on Loans shall accrue monthly and be payable on the earlier to occur of (i) the Business Day following demand by the Lender or (ii) the Termination Date. The Lender will notify the Borrower in writing, upon request of a Borrower, of the amount of interest payable hereunder with respect to Loans which notice will set forth in reasonable detail the calculation of such amount.
Interest Rates and Payments. Interest shall accrue on the Obligations and shall be payable as set forth in the Daily Adjusting LIBOR Addendum to Loan and Security Agreement attached hereto and made a part hereof.
Interest Rates and Payments. The parties agree that the Loans shall accrue interest and be repaid in accordance with the following terms:
Interest Rates and Payments. (a) The Outstanding Principal Balance, plus all accrued and unpaid interest thereon, shall be due and payable in full on the Maturity Date.
Interest Rates and Payments. (a) Interest shall accrue on the outstanding principal amount of each Advance from the date made, during each Interest Period for such Advance, at a per annum rate equal to the sum of (a) the Margin plus (b) the LIBOR Rate for that Interest Period. Borrower shall pay accrued interest on each Advance on the last day of each Interest Period for such Advance during the Interest-Only Period applicable to such Advance, on the last day of the Interest-Only Period applicable to such Advance, on the last day of each Interest Period for such Advance during the Term-Out Period applicable to such Advance, and at such Advance’s maturity (and, in the case of interest accruing after such maturity, on demand). Notwithstanding the foregoing, after the maturity of an Advance and, if Bank elects, while an Event of Default exists prior to such maturity, interest shall accrue on the outstanding principal amount of such Advance at a per annum rate equal to the Default Rate.
