Interest Rates, Interest Payments and Default Interest. Interest shall accrue and be payable on the Revolving Loans as follows:
(a) Subject to paragraph (c) below, each Eurodollar Rate Advance shall bear interest on the unpaid principal amount thereof during the Interest Period applicable thereto at a rate per annum equal to the sum of (A) the Adjusted Eurodollar Rate for such Interest Period plus (B) the Applicable Margin.
(b) Subject to paragraph (c) below, each Base Rate Advance shall bear interest on the unpaid principal amount thereof at a varying rate per annum equal to the sum of (A) the Base Rate plus (B) the Applicable Margin.
(c) Upon the occurrence and during the continuance of any Event of Default, each Advance shall, at the option of the Agent or at the direction of the Majority Banks, bear interest until paid in full at a rate equal to 2.00% plus the rate that would otherwise be applicable to such Advance (the “Default Rate”).
(d) Interest shall be payable (i) with respect to each Eurodollar Rate Advance having an Interest Period of three months or less, on the last day of the Interest Period applicable thereto; (ii) with respect to any Eurodollar Rate Advance having an Interest Period greater than three months, on the last day of the Interest Period applicable thereto and on the last day of each calendar quarter included in such Interest Period; (iii) with respect to any Base Rate Advance, on the last day of each month; (iv) with respect to all Advances, upon any permitted prepayment (on the amount prepaid); and (v) on the Revolving Loan Termination Date; provided, that interest under paragraph (c) of this Section shall be payable on demand.
Interest Rates, Interest Payments and Default Interest. Interest shall accrue and be payable on the Loans as follows:
(a) Subject to paragraph (b) below, each Loan shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the lesser of (i) sum of (A) the LIBOR Rate in effect, and as reset on, the first day of each Interest Period, plus (B) the Applicable Margin and (ii) 9.0%.
(b) Upon the occurrence of any Event of Default, each Loan shall, at the option of the Lender, bear interest until paid in full at a rate per annum equal to the sum of the interest rate otherwise applicable thereto plus 3.0%.
(i) Interest with respect to Revolving Loans shall be payable on the last day of each Interest Period and upon any permitted prepayment (on the amount prepaid) and on the Termination Date and (ii) interest with respect to Term Loan shall be payable as set forth in Section 2.5(b), upon any permitted prepayment (on the amount prepaid), and on the Term Loan Maturity Date; provided, that with respect to any Loan, interest under paragraph (b) of this Section shall be payable on demand.
Interest Rates, Interest Payments and Default Interest. Interest shall accrue and be payable on the unpaid balance of the Advances at a floating rate per annum equal to the sum of the Reference Rate plus 0% (the latter being the "Applicable Revolving Margin"); provided, however, that upon the happening of any Event of Default, then, at the option of the Lender, the Advances shall thereafter bear interest at a floating rate equal to the sum of (a) the Reference Rate, plus (b) the Applicable Revolving Margin, plus (c) 4%. Interest shall accrue and be payable on the unpaid balance of Term Loan A at a fixed rate equal to 10% per annum; provided, however, that upon the happening of any Event of Default, then, at the option of the Lender, Term Loan A shall thereafter bear interest at a fixed rate equal to 12% per annum. Interest shall accrue and be payable on the unpaid balance of Term Loan B at a floating rate per annum equal to the sum of the Reference Rate plus 1.0% (the latter being the "Applicable Term Margin"); provided, however, that upon the happening of any Event of Default, then, at the option of the Lender, Term Loan B shall thereafter bear interest at a floating rate equal to the sum of (a) the Reference Rate, plus (b) the Applicable Term Margin, plus (c) 2%. Term Loan C shall be non-interest bearing. Interest shall be payable monthly in arrears on the first day of each month and upon final payment of the Advances. Interest on Term Loan A and Term Loan B shall be payable as provided in Term Loan A and Term Loan B.
Interest Rates, Interest Payments and Default Interest. Section 2.4 of the Credit Agreement is amended in its entirety as follows:
Interest Rates, Interest Payments and Default Interest. Interest shall accrue and be payable on the unpaid balance of the Revolving Note at a floating rate per annum equal to the sum of the Reference Rate plus 1.75% (the latter being the "Applicable Revolving Margin"); PROVIDED, HOWEVER, that any amount of principal of the Revolving Note not paid when due (whether at such date or upon acceleration following an Event of Default) shall thereafter bear interest at a floating rate equal to the sum of (a) the Reference Rate, plus (b) the Applicable Revolving Margin, plus (c) 3 1/2%. Interest shall accrue and be payable on the unpaid balance of the Term Note at a floating rate per annum equal to the sum of the Reference Rate plus 1.75% (the latter being the "Applicable Term Margin"); PROVIDED, HOWEVER, that any amount of principal of the Term Note not paid when due after giving effect to any applicable grace period, if any (whether at the date scheduled therefor or upon acceleration following an Event of Default) shall thereafter bear interest at a floating rate equal to the sum of (a) the Reference Rate, plus (b) the Applicable Term Margin, plus (c) 3 1/2%. Interest shall accrue and be payable on the unpaid balance of the Additional Term Note at a floating rate per annum equal to the sum of the Reference Rate plus 3.00% (the latter being the "Applicable Additional Term Margin"); PROVIDED, HOWEVER, that any amount of principal of the Additional Term Note not paid when due after giving effect to any applicable grace period, if any (whether at the date scheduled therefor or upon acceleration following an Event of Default) shall thereafter bear interest at a floating rate equal to the sum of (a) the Reference Rate, plus (b) the Applicable Additional Term Margin, plus (c) 3 1/2%. If any amount of principal of the Revolving Note, the Term Note and/or the Additional Term Note is not paid when due (whether at such date or upon acceleration following an Event of Default) the Revolving Note shall thereafter bear interest at a floating rate equal to the sum of (a) the Reference Rate, plus (b) the Applicable Revolving Margin, plus (c) 3 1/2%, the Term Note shall thereafter bear interest at a floating rate equal to the sum of (a) the Reference Rate, plus (b) the Applicable Term Margin, plus (c) 3 1/2%, the Additional Term Note shall thereafter bear interest at a floating rate equal to the sum of (a) the Reference Rate, plus (b) the Applicable Revolving Margin, plus (c) 3 1/2%. Interest shall be payable monthly in arrears and upo...
Interest Rates, Interest Payments and Default Interest. Interest shall accrue and be payable on the Advances and the Term Loan as follows:
(a) Each Advance on the Revolving Loan shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the sum of (i) the Adjusted Eurodollar Rate, plus (ii) the Applicable Margin.
(b) Each Advance on the Term Loan shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the sum of (i) the Adjusted Eurodollar Rate, plus (ii) the Applicable Margin.
Interest Rates, Interest Payments and Default Interest. Section 2.4 of the Credit Agreement is amended to read in its entirety as follows:
Interest Rates, Interest Payments and Default Interest. Interest shall accrue and be payable on the Advances as follows:
(a) Each Eurodollar Rate Advance shall bear interest on the unpaid principal amount thereof during the Interest Period applicable thereto at a rate per annum equal to the sum of (i) the Adjusted Eurodollar Rate for such Interest Period, plus (ii) the Applicable Margin.
(b) Each Reference Rate Advance shall bear interest on the unpaid principal amount thereof at a varying rate per annum equal to the sum of (i) the Reference Rate, plus (ii) the Applicable Margin.
Interest Rates, Interest Payments and Default Interest. Interest shall accrue and be payable on the unpaid balance of the Advances at a floating rate per annum equal to the sum of the Reference Rate plus 2% (the latter being the “Applicable Revolving Margin”); provided, however, that upon the happening of any Event of Default, then, at the option of the Lender, the Advances shall thereafter bear interest at a floating rate equal to the sum of (a) the Reference Rate, plus (b) the Applicable Revolving Margin, plus (c) 4%. Interest shall be payable monthly in arrears on the first day of each month and upon final payment of the Advances.
Interest Rates, Interest Payments and Default Interest. Interest shall accrue and be payable on the Term Loans as follows:
(a) Subject to paragraphs (b) and (c) below, the Term Loan shall bear interest on the unpaid principal amount thereof during the Interest Period applicable thereto at a rate per annum equal to greater of (i) the sum of (1) the LIBOR Rate for such Interest Period plus (2) the Applicable Margin or (ii) 8.50% (such greater amount constituting the “Effective Rate”).
(b) After the occurrence and during the continuance of an Event of Default, and at all times following the Required Lender’s election to enforce their remedies under Section 7.2 hereof, the Term Loan shall, at the option of the Required Lenders, bear interest until paid in full at a rate per annum equal to the Effective Rate plus 2.0%.
(c) Upon the failure of the Borrower to provide the financial statements required by Section 5.1 within the deadlines specified therein, the Term Loan shall, at the option of the Required Lenders, bear interest at a rate per annum equal to the Effective Rate plus 2.0% until such financial statements are delivered to the Agent.
(d) Interest on the Term Loans and all other Obligations shall be payable to Lenders quarterly in arrears on each Interest Payment Date, upon any prepayment (on the amount prepaid), and on the Maturity Date; provided that interest under paragraph (b) of this Section shall be payable on demand.
