Common use of Interest Rates and Payments of Interest Clause in Contracts

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).

Appears in 3 contracts

Samples: Credit Agreement (Excel Inc), Credit Agreement (Excel Switching Corp), Credit Agreement (Excel Switching Corp)

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Interest Rates and Payments of Interest. (a) Each Revolving Loan, and each portion of the Term Loan which is a Base Rate Loan --------------------------------------- Loan, shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Base RateRate 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 each month commencing December 31any calendar quarter ending in March, 1995June, September and December, 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).

Appears in 2 contracts

Samples: Credit and Term Loan Agreement (Open Link Financial, Inc.), Credit and Term Loan Agreement (Open Link Financial, Inc.)

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 calendar quarter, beginning December 31, 1995, and when such Base Rate Loan is due (whether at maturity, by reason of acceleration or otherwise).

Appears in 1 contract

Samples: Revolving Credit Agreement (Essex County Gas Company)

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 RateRate 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 December 31April 30, 19951999, and when such Base Rate Loan is due (whether at maturity, by reason of acceleration acceleration, prepayment or otherwise).

Appears in 1 contract

Samples: Revolving Credit Agreement (Tier Technologies Inc)

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 Rate in effect from time to time plus the Base RateRate Margin. Such interest Interest accruing in respect of each Base Rate Loan shall be payable on the last day of each month commencing December February 28, 1998May 31, 1995, 1997 and when continuing until such Base Rate Loan is due (whether at maturity, by reason of acceleration acceleration, prepayment or otherwise).

Appears in 1 contract

Samples: Credit Agreement (Alarmguard Holdings Inc)

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 Rate in effect from time to time plus the Base RateRate Margin. Such interest Interest accruing in respect of each Base Rate Loan shall be payable on the last day of each month commencing December May 31, 1995, 1997 and when continuing until such Base Rate Loan is due (whether at maturity, by reason of acceleration acceleration, prepayment or otherwise).

Appears in 1 contract

Samples: Term Loan and Acquisition Credit Agreement (Alarmguard Holdings Inc)

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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 RateRate plus the then-current Applicable Margin, 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 31November 30, 19951996, and when such Base Rate Loan is due (whether at maturity, by reason of acceleration or otherwise).

Appears in 1 contract

Samples: Loan and Security Agreement (Object Design Inc)

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 RateRate 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 December 31April 30, 19951998, and when such Base Rate Loan is due (whether at maturity, by reason of acceleration acceleration, prepayment or otherwise).

Appears in 1 contract

Samples: Security Agreement (Tier Technologies Inc)

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 calendar quarter, commencing December 31, 1995, and when such Base Rate Loan is due (whether at maturity, by reason of acceleration or otherwise).

Appears in 1 contract

Samples: Revolving Credit Agreement (First Empire State Corp)

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