Interest Rates on Loans Sample Clauses

Interest Rates on Loans. Each Loan shall bear interest (from the date made through and including the date of payment in full) at a rate per annum equal to either: (A) in the case of Base Rate Loans, the Base Rate plus the Applicable Margin (the “Total Base Interest Rate”) for such Base Rate Loans; or (B) in the case of Eurocurrency Rate Loans, the Eurocurrency Rate plus the Applicable Margin for such Eurocurrency Rate Loans; provided, that the Total Base Interest Rate shall at all times be greater than or equal to the Eurocurrency Rate for a one month Interest Period as quoted on such date plus the Applicable Margin on such date (the “Total Eurocurrency Interest Rate”) and, at any time the Total Base Interest Rate is less than the Total Eurocurrency Interest Rate such Loan shall bear interest at the Total Eurocurrency Interest Rate.
Sample 1
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Interest Rates on Loans. Borrower hereby promises to pay interest on the unpaid principal amount of the aggregate Letter of Credit Obligations outstanding from time to time in the manner provided in Section 3.1 below at the fixed rate of two percent (2%) per month. The first four months of interest (8%) on each Letter of Credit shall be deemed fully earned upon the issuance of such Letter of Credit (the “Minimal Charge”). Notwithstanding the foregoing, upon the occurrence of an Event of Default, the unpaid principal amount of the Letter of Credit Obligations shall, at Lender’s option, bear interest after such Event of Default at the Default Rate.
Sample 1
Interest Rates on Loans. Borrower agrees to pay interest in respect of all unpaid principal amounts of the Loans from the respective dates such principal amounts are advanced until paid (whether at stated maturity, on acceleration, or otherwise) at a variable rate per annum equal to the sum of the Base Rate or Adjusted LIBO Rate, as the case may be, plus the Applicable Margin. Borrower shall give Lender prior written notice at least two (2) Business Days' prior to the first day of each month hereafter (or telephonic notice promptly confirmed in writing) of its election to convert or continue the Loans then outstanding and all Borrowings to be made thereafter during such month as either Base Rate Loans or as LIBOR Loans. Any such election shall be irrevocable with respect to the following month and shall apply to all Loans. Borrower shall not be entitled to elect different interest rates for any portion of the Loans. Such notice (a "Notice of Conversion/Continuation") shall be given prior to 11:00 a.m. (Atlanta, Georgia time) on the date specified. Each such Notice of Conversion/Continuation shall be irrevocable and shall specify whether the Loans during the immediately following month are to be Base Rate Loans or LIBOR Loans. If Borrower shall have failed, or pursuant to the following sentence be unable, to deliver the Notice of Conversion/Continuation, Borrower shall be deemed to have elected to convert or continue, as the case may be, all Loans as Base Rate Loans for the following month. So long as any Default or Event of Default shall have occurred and be continuing, no Borrowing may be converted into or continued as a LIBOR Loan. Interest on each Loan shall accrue from and including the date of such Loan to, but excluding the date of any repayment thereof; provided, however, that, if a Loan is repaid on the same day made, one day's interest shall be paid on such Loan. Interest on all outstanding Loans shall be calculated on a daily basis commencing on the date of such Loan, and shall be payable monthly, in arrears, on the first day of each month. Interest accrued on the outstanding principal amount of the Loans that are LIBOR Loans shall be paid, in arrears, on the first day of each month and on the last day of the applicable Interest Period. The rate of interest applicable to Base Rate Loans shall be increased or decreased, as the case may be, by an amount equal to any increase or decrease in the Base Rate, with such adjustments to be effective as of the opening of business o...
Sample 1
Interest Rates on Loans. The Company shall pay to the Bank interest on the outstanding principal balance of each Revolving Loan at a rate per annum equal to (i) during such periods as such Revolving Loan is a Base Rate Loan, the Base Rate and (ii) during such periods as such Revolving Loan is a LIBOR Loan, the sum of LIBOR applicable to such periods plus 1.35%; provided, however, that, if any principal of any Revolving Loan is not paid when due (whether by acceleration or otherwise), the unpaid principal amount of such Revolving Loan shall bear interest after such due date until paid at a rate per annum equal to the applicable interest rate in effect from time to time for such Revolving Loan plus 3.50%
Sample 1
Interest Rates on Loans. 2.2.1 Borrowers hereby promise to pay interest on the unpaid principal amount of the Revolving Loan as provided in Section 3.1 below at the floating per annum rate of interest equal to the Prime Rate for the period commencing on the date such Loan is disbursed until the date such Loan is paid in full. Provided, however, Borrowers shall have the option of converting the interest rate for all or a portion of the Revolving Loan to the LIBOR Rate, plus Two Hundred Fifty (250) basis points, in accordance with Section 2.2.2 below. Notwithstanding the foregoing, upon the occurrence of an Event of Default, the unpaid principal amount of the Revolving Loan shall, at the Bank's option, bear interest after such Event of Default at the Default Rate.
Sample 1
Interest Rates on Loans 
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Related to Interest Rates on Loans

  • Interest Rate Options The Borrower shall pay interest in respect of the outstanding unpaid principal amount of the Loans as selected by it from the Base Rate Option or LIBOR Rate Option set forth below applicable to the Loans, it being understood that, subject to the provisions of this Agreement, the Borrower may select different Interest Rate Options and different Interest Periods to apply simultaneously to the Loans comprising different Borrowing Tranches and may convert to or renew one or more Interest Rate Options with respect to all or any portion of the Loans comprising any Borrowing Tranche; provided that (i) there shall not be at any one time outstanding more than ten (10) Borrowing Tranches in the aggregate among all of the Loans and (ii) if an Event of Default or Potential Default exists and is continuing, the Borrower may not request, convert to, or renew the LIBOR Rate Option for any Loans and the Required Lenders may demand that all existing Borrowing Tranches bearing interest under the LIBOR Rate Option shall be converted immediately to the Base Rate Option, subject to the obligation of the Borrower to pay any indemnity under Section 5.9 [Indemnity] in connection with such conversion. If at any time the designated rate applicable to any Loan made by any Lender exceeds such Lender’s highest lawful rate, the rate of interest on such Lender’s Loan shall be limited to such Lender’s highest lawful rate.

  • Interest Rates (a) Each Base Rate Loan shall bear interest on the outstanding principal amount thereof, for each day from the date such Loan is made until it becomes due, at a rate per annum equal to the Base Rate for such day. Such interest shall be payable for each Interest Period on the last day thereof. Any overdue principal of or interest on any Base Rate Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to the sum of 2% plus the rate otherwise applicable to Base Rate Loans for such day.

  • Interest Rate Contracts The Borrower shall at all times from and after the date of this Agreement maintain in full force and effect, an Interest Rate Contract(s) in form and substance satisfactory to Agent in an amount necessary to ensure that the outstanding “Debt” (as hereinafter defined) of Borrower, the Guarantors and their respective Subsidiaries that is Variable Rate Debt does not exceed twenty-five percent (25%) of Consolidated Total Adjusted Asset Value of the Borrower. The Interest Rate Contract(s) shall be provided by any Bank which is a party to this Agreement or a bank or other financial institution that has unsecured, uninsured and unguaranteed long-term debt which is rated at least A-3 by Xxxxx’x Investor Service, Inc. or at least A- by Standard & Poor’s Corporation. The Borrower shall upon the request of the Agent provide to the Agent evidence that the Interest Rate Contract(s) is in effect. For the purposes of this §7.18, the term “Debt” shall mean any indebtedness of the Borrower, the Guarantors or any their respective Subsidiaries, whether or not contingent, and without duplication, in respect of (i) borrowed money evidenced by bonds, notes, debentures or similar instruments or (ii) indebtedness secured by any mortgage, pledge, lien, charge, encumbrance or any security interest existing on property owned by the Borrower, any Guarantor or any of their respective Subsidiaries, to the extent that any such items would appear as a liability on the balance sheet of the Borrower, the Guarantors or any of their respective Subsidiaries in accordance with GAAP, and also includes, to the extent not otherwise included, any obligation by the Borrower, the Guarantors or any of their respective Subsidiaries to be liable for, or to pay, as obligor, guarantor or otherwise (other than for purposes of collection in the ordinary course of business), indebtedness of another Person (other than the Borrower, any Guarantor or any of their respective Subsidiaries) (it being understood that Debt shall be deemed to be incurred by the Borrower, the Guarantors or any of their respective Subsidiaries whenever the Borrower, any Guarantor or any of their respective Subsidiaries shall create, assume, guarantee or otherwise become liable in respect thereof).

  • Interest on Loans (a) Subject to the provisions of Section 2.08, each ABR Loan shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 days or 366 days in a leap year) at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin.

  • Fixed Interest Rates Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of ARD loans and situations where default interest is imposed.

  • Notice of Interest Period and Interest Rate Promptly after receipt of a Notice of Borrowing pursuant to Section 2.02(a), a notice of Conversion pursuant to Section 2.09 or a notice of selection of an Interest Period pursuant to the definition of “Interest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

  • Notification of Advances, Interest Rates and Prepayments The Administrative Agent will notify each Lender of the contents of each Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder not later than the close of business on the Business Day such notice is received by the Administrative Agent. The Administrative Agent will notify each Lender of the interest rate applicable to each LIBOR Rate Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • Interest Rate Cap Agreement (a) The Interest Rate Cap Agreement in effect on the Closing Date has a LIBOR strike price equal to the Strike Price and a scheduled termination date of the Initial Maturity Date. The Interest Rate Cap Agreement (i) is in a form and substance reasonably acceptable to Lender, (ii) is with an Acceptable Counterparty, (iii) directs such Acceptable Counterparty to pay directly to an account pledged to Lender any amounts due Borrower under such Interest Rate Cap Agreement unless and until otherwise instructed by Lender (it being agreed as between Lender and Borrower that Lender will so instruct the Counterparty at such time as the Debt shall no longer exist, provided that the Debt shall be deemed to exist if the Properties are transferred by judicial or non-judicial foreclosure or deed-in-lieu thereof), and (iv) has a notional amount at least equal to the principal balance of the Loan outstanding on the Closing Date (it being understood that the notional amount of the Interest Rate Cap Agreement may be reduced, from time to time, as the principal balance of the Loan is reduced (in the amounts of such reduction in principal) pursuant to clause (g) below). Borrower shall collaterally assign to Collateral Agent (for the benefit of Lender), pursuant to the Collateral Assignment of Interest Rate Cap Agreement, all of its right, title and interest to receive any and all payments under the Interest Rate Cap Agreement, and shall deliver to Collateral Agent an executed counterpart of such Interest Rate Cap Agreement (which shall, by its terms, authorize the assignment to Collateral Agent (for the benefit of Lender) and require that payments be paid directly into an account pledged to Collateral Agent (for the benefit of Lender) as provided above in this Section 2.2.7). Provided no Event of Default has occurred and is continuing, amounts contained in the foregoing pledged account shall be released to Borrower on a monthly basis to the extent not applied toward debt service on the Loan.

  • Applicable Interest Rates (a) U.S.

  • Interest Rate Payments The Indebtedness shall accrue interest at the rates and in the manner set forth in the Note. Borrower shall make payments of principal and interest at the times and in the manner set forth in the Note.

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