Interest Rates and Payments of Interest. (a) Each Revolving Loan, and each portion of the Term Loan which is a Base Rate Loan, shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Base Rate plus the Applicable Base Rate Margin, which rate shall change contemporaneously with any change in the Base Rate. Such interest shall be payable on the last day of any calendar quarter ending in March, June, September and December, in which a Base Rate Loan is outstanding hereunder, and when such Loan is due (whether at maturity, by reason of acceleration or otherwise).
(b) Each Revolving Loan, and each portion of the Term Loan which is a Eurodollar Loan, shall bear interest on the outstanding principal amount thereof, for each Interest Period applicable thereto, at a rate per annum equal to the Eurodollar Rate plus the Applicable Eurodollar Margin. Such interest shall be payable for such Interest Period on the last day thereof and when such Eurodollar Loan is due (whether at maturity, by reason of acceleration or otherwise) and, if such Interest Period is longer than 3 months, at intervals of 3 months after the first day thereof.
(c) For purposes of this Section 2.10, with reference to Revolving Loans and the Term Loan (i) the “Applicable Base Rate Margin” shall be equal to (A) from the Closing Date through the fourth Business Day after the date on which the financial statements required to be delivered pursuant to Section 5.1(b) for the first fiscal quarter of the Borrower following the Closing are delivered to the Lender, a percentage equal to 0.75%, and (B) thereafter, the percentage determined for each Rate Period by reference to Table 1 below, and (ii) the “Applicable Eurodollar Margin” shall be equal to (A) from the Closing Date through the fourth Business Day after the date on which the financial statements required to be delivered pursuant to Section 5.1(b) for the first fiscal quarter of the Borrower following the Closing are delivered to the Lender, a percentage equal to 2.25%, and (B) thereafter, the percentage determined for each Rate Period by reference to Table 1 below: I) greater than or equal to 1.75 to 1 1.00 % 2.50 %
Interest Rates and Payments of Interest. (a) Each Revolving Loan which is a LIBOR Loan shall bear interest on the outstanding principal amount thereof, for each Interest Period applicable thereto, at a rate per annum equal to the LIBOR Rate. Such interest shall be payable (i) in arrears on the last Business Day of the Interest Period with respect thereto and (ii) when such LIBOR Loan is due (whether at maturity, by reason of acceleration or otherwise). In addition, upon any prepayment which has the effect of reducing the outstanding principal amount of any LIBOR Loan to zero (0), all accrued and unpaid interest in respect of such LIBOR Loan shall be payable at the time of any such prepayment.
(b) Each Revolving Loan which is a Prime Rate Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the Prime Rate in effect from time to time. Such interest shall be payable (i) quarterly in arrears on the last day of each quarter commencing December 31, 1997 and continuing on each December 31, March 31, June 30 and September 30 thereafter and (ii) when such Revolving Loan is due (whether at maturity, by reason of acceleration or otherwise). In addition, upon any prepayment which has the effect of reducing the outstanding principal amount of any Prime Rate Loan to zero (0), all accrued and unpaid interest in respect of such Prime Rate Loan shall be payable at the time of any such prepayment.
Interest Rates and Payments of Interest. (a) The Loan shall bear interest at a rate per annum equal to the Fixed Rate. Such interest shall be payable quarterly in arrears on the first Business Day of each calendar quarter, commencing October 1, 2015. For interest payments due October 1, 2015, January 4, 2016, April 1, 2016, and July 1, 2016, the Borrower may elect, by notice to the Lenders prior to the due date for payment of interest, to pay interest in kind by adding such interest payment to the unpaid principal balance outstanding under the Loan.
(b) If an Event of Default shall occur, then the unpaid balance of the Loan shall bear interest, to the extent permitted by law, compounded daily at an interest rate equal to 2% per annum above the Fixed Rate, until such Event of Default is cured or waived.
(c) All agreements between or among the Borrower and the Lenders are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of the Obligations or otherwise, shall the amount paid or agreed to be paid to the Lenders for the use or the forbearance of the Obligations exceed the maximum permissible under applicable law. As used herein, the term “applicable law” shall mean the law in effect as of the date hereof provided, however, that in the event there is a change in the law which results in a higher permissible rate of interest, then the Loan Documents shall be governed by such new law as of its effective date. In this regard, it is expressly agreed that it is the intent of the Borrower and the Lenders in the execution, delivery and acceptance of the Loan Documents to contract in strict compliance with the laws of The State of New York from time to time in effect. If, under or from any circumstances whatsoever, fulfillment of any provision of any of the Loan Documents at the time of performance of such provision shall be due, shall involve transcending the limit of such validity prescribed by applicable law, then the Obligations to be fulfilled shall automatically be reduced to the limits of such validity, and if under or from circumstances whatsoever the Lenders should ever receive as interest an amount which would exceed the highest lawful rate, such amount which would be excessive interest shall be applied to the reduction of the principal balance of the Obligations and not to the payment of interest. This provision shall control every other provision of all Loan Documents.
Interest Rates and Payments of Interest. (a) Each Base Rate Loan --------------------------------------- shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Base Rate, which rate shall change contemporaneously with any change in the Base Rate. Such interest shall be payable on the last day of each month commencing December 31, 1995, and when such Base Rate Loan is due (whether at maturity, by reason of acceleration or otherwise).
(b) Each Eurodollar Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period applicable thereto, at a rate per annum equal to the Adjusted Eurodollar Rate plus two and one half percent (2.5%). Such interest shall be payable for such Interest Period on the last day thereof and when such Eurodollar Loan is due (whether at maturity, by reason of acceleration or otherwise) and, if such Interest Period is longer than three months, at intervals of three months after the first day thereof.
Interest Rates and Payments of Interest. Interest on the principal balance of the Loans shall accrue and be paid at the rates, at the times and in the manner stated in the Notes and as follows:
Interest Rates and Payments of Interest. (a) Each Revolving Credit Loan which is a Prime Rate Loan shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Prime Rate, which rate shall change contemporaneously with any change in the Prime Rate. Such interest shall be payable monthly in arrears on the first Business Day of each month, commencing on the first Business Day of the month immediately following the month in which the Initial Closing Date occurs.
(b) Each Revolving Credit Loan which is a LIBOR Loan shall bear interest on the outstanding principal amount thereof, for each Interest Period applicable thereto, at a rate per annum equal to the LIBOR Rate plus the Applicable Margin. Such interest shall be payable for such Interest Period on the last day thereof and, if such Interest Period is longer than three months, at intervals of three months after the first day thereof.
(c) The Tranche A Term Loan shall bear interest on the outstanding principal amount thereof at a rate per annum equal to Eight and one-tenth percent (8.1%). Such interest shall be payable monthly in arrears on the first Business Day of each month, commencing on the first Business Day of the month immediately following the month in which the Term Loan Closing Date occurs.
(d) Prior to the effective date of any Tranche B Conversion, the Tranche B Term Loans shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Prime Rate, which rate shall change contemporaneously with any change in the Prime Rate. From and after the effective date of any Tranche B Conversion, the Tranche B Term Loans shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Fixed Rate. Such interest shall be payable monthly in arrears on the first Business Day of each month, commencing on the first Business Day of the month immediately following the month in which the Term Loan Closing Date occurs.
(e) If an Event of Default shall occur, then at the option of the Lender the unpaid balance of Loans shall bear interest, to the extent permitted by law, compounded daily at an interest rate equal to 2% per annum above the interest rate applicable to each such Loan in effect on the day such Event of Default occurs, until such Event of Default is cured or waived.
(f) So long as the Lender shall be required under regulations of the Board of Governors of the Federal Reserve System (or any other banking authority, domestic or foreign, to which the ...
Interest Rates and Payments of Interest. (a) Each Base Rate Loan shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Base Rate in effect from time to time, which rate shall change contemporaneously with any change in the Base Rate. Interest accruing on each Base Rate Loan shall be payable quarter-annually in arrears, on the last day of March, June, September and December of each year, beginning March 31, 1999, and when such Loan is due (whether at maturity, by reason of acceleration or otherwise).
(b) Each Eurodollar Loan shall bear interest on the outstanding principal amount thereof, for each Interest Period applicable thereto, at a rate per annum equal to the Adjusted Eurodollar Rate, PLUS the Applicable Percentage for Eurodollar Loans in effect from time to time. Such interest shall be payable for such Interest Period on the last day thereof and when such Eurodollar Loan is due (whether at maturity, by reason of acceleration or otherwise), and, if such Interest Period is longer than three (3) months, at intervals of three (3) months after the first day thereof.
Interest Rates and Payments of Interest. (a) Each Base Rate Loan --------------------------------------- shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Alternate Base Rate plus one half of one percent (.50%), which rate shall change contemporaneously with any change in the Alternate Base Rate. Such interest shall be payable in arrears on the last day of each month commencing April 30, 1998, and when such Loan is due (whether at maturity, by reason of acceleration, prepayment or otherwise).
(b) Each LIBOR Loan shall bear interest on the outstanding principal amount thereof, for each Interest Period applicable thereto, at a rate per annum equal to the Adjusted LIBOR Rate plus two and one half percent (2.5%). Such interest shall be payable in arrears for such Interest Period on the last day thereof and when such LIBOR Loan is due (whether at maturity, by reason of acceleration, prepayment or otherwise) and, if such Interest Period is longer than three months, at intervals of every three months after the first day thereof.
Interest Rates and Payments of Interest. (a) Each Base Rate Loan shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Base Rate in effect from time to time plus the Base Rate Margin. Interest accruing in respect of each Base Rate Loan shall be payable on the last day of each month commencing February 28, 1998May 31, 1997 and continuing until such Base Rate Loan is due (whether at maturity, by reason of acceleration, prepayment or otherwise).
(b) Each Eurodollar Loan shall bear interest on the outstanding principal amount thereof, for each Interest Period applicable thereto, at a rate per annum equal to the Adjusted Eurodollar Rate plus the Eurodollar Margin, which interest shall be payable on the last day of each Interest Period (but, in the case of Interest Periods having a duration of six (6) months or greater, if available, at least quarterly) and when such Eurodollar Loan is due (whether at maturity, by reason of acceleration or otherwise).
(c) Interest shall be computed daily on the basis of a year of three hundred sixty (360) days and paid for the actual number of days elapsed during each Interest Period. If the due date for any payment of principal is extended by operation of law, interest shall be payable for such extended time. If any payment required by this Agreement becomes due on a day that is not a Business Day such payment may be made on the next succeeding Business Day (subject to clause (i) of the definition of Interest Period), and such extension shall be included in computing interest in connection with such payment.
Interest Rates and Payments of Interest. (a) Each Base Rate Loan shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Base Rate, which rate shall change contemporaneously with any change in the Base Rate. Such interest shall be payable on the last day of each month in which a Base Rate Loan is outstanding hereunder, and when such Base Rate Loan is due (whether at maturity, by reason of acceleration or otherwise).
(b) Each Eurodollar Loan shall bear interest on the outstanding principal amount thereof, for each Interest Period applicable thereto, at a rate per annum equal to the Adjusted Eurodollar Rate plus the percentage set forth in Table 2.7 below corresponding to the Commercial Paper Rating applicable to the Borrower from time to time (and such interest rate shall change on the date of a change in such Commercial Paper Rating), or if the Borrower is not rated by either Moody's or Standard & Poor's at any time, the Eurodollar Margin shall be the highest rate per annum set forth below. Such interest shall be payable for such Interest Period on the last day thereof and when such Eurodollar Loan is due (whether at maturity, by reason of acceleration or otherwise) and, if such Interest Period is longer than three months, at intervals of three months after the first day of such
