Interest Rates; Payment of Interest. 2.5.1. The unpaid principal of the Note shall bear interest from the date hereof, at a rate per annum equal to the lesser of the (i) the Floating Rate or such higher rate as is specified in Section 3.3 or (ii) the Highest Lawful Rate.
2.5.2. Accrued interest shall be payable in arrears on each Interest Payment Date and on the Final Maturity Date; provided that, interest accrued pursuant to Section 3.3 shall be payable on demand.
2.5.3. Each determination hereunder of interest on the Note and fees hereunder based on per annum calculations shall be computed on the basis of a year of 360 days and paid for the actual number of days elapsed (including the first day but excluding the last day), subject to the limitations of the Highest Lawful Rate. All interest rates applicable hereunder shall be determined by the Lender, and such determinations shall be conclusive absent manifest error, and be binding upon the parties hereto.
2.5.4. Each change in the rate of interest charged hereunder shall become effective automatically and without notice to the Borrower upon the effective date of each change in the Floating Rate or the Highest Lawful Rate, as the case may be.
Interest Rates; Payment of Interest. COMMITMENT FEE; CALCULATION OF INTEREST AND FEES.
(a) BASE RATE LOANS. Each 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 Margin, which rate shall change as of the Business Day next succeeding any change in the Base Rate. Unless Borrower shall have paid such interest to Administrative Agent for the account of Lenders on or prior to the Interest Payment Date, such interest shall automatically, without any action or notice, on each Interest Payment Date occurring during the period from the Closing Date through and including the earlier of (i) the Interest Payment Date which ends on the calendar quarter ending on September 30, 2001 and (ii) Maturity, be added to the outstanding principal amount of the Investment Capital Loans (in the case of interest accrued in respect of the Investment Capital Loans) or the Working Capital Loans (in the case of interest accrued in respect of the Working Capital Loans), as applicable, as a new Base Rate Loan. Thereafter, such interest shall be payable on each Interest Payment Date and at Maturity.
Interest Rates; Payment of Interest. 2.5.1. Each Loan comprising an FLR Advance shall bear interest on the outstanding principal amount thereof, for each day from and including the date such FLR Advance is made or is automatically converted from a Eurodollar Advance into an FLR Advance pursuant to Section 2.9, to but excluding the date it is paid or is converted into a Eurodollar Advance pursuant to Section 2.9, at a rate per annum equal to the lesser of (a) the Floating Rate or, if applicable, such higher rate as is specified in Section 3.3 or (b) the Highest Lawful Rate.
2.5.2. Each Loan comprising a Eurodollar Advance shall bear interest on the outstanding principal amount thereof from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period equal to the lesser of (a) the Adjusted LIBOR Rate in effect for such Advance or, if applicable, such higher rate as is specified in Section 3.3 or (b) the Highest Lawful Rate.
2.5.3. Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and on the Final Maturity Date; provided that interest accrued pursuant to Section 3.3 shall be payable on demand.
2.5.4. Each determination hereunder of interest on the Notes and fees hereunder based on per annum calculations shall be computed on the basis of a year of 360 days and paid for the actual number of days elapsed (including the first day but excluding the last day), subject to the limitations of the Highest Lawful Rate. All interest rates applicable hereunder shall be determined by the Administrative Agent, and such determinations shall be conclusive absent manifest error, and be binding upon the parties hereto.
2.5.5. If prior to the commencement of any Interest Period for a Eurodollar Advance:
(a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBOR Rate or the LIBOR Rate for such Interest Period; or
(b) the Administrative Agent is advised by any Lender that the Adjusted LIBOR Rate or LIBOR Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lender of making or maintaining its or their Loans included in such Advance for such Interest Period; then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or electronic means as promptly as practicable thereafter and, until ...
Interest Rates; Payment of Interest. So long as no Event of Default (hereafter defined) has occurred and subject to the terms hereof, principal outstanding hereunder shall bear interest at a fixed rate of nine (9%) percent per annum (herein the "Fixed Rate") through and including February 28, 2011, and thereafter at a variable rate (the "Variable Rate") equal to the Prime Rate (hereinafter defined) plus one and one-half percent (1.5%) per annum. Interest on all amounts outstanding at the Variable Rate and Fixed Rate shall be payable quarterly beginning June 1, 2006, and continuing thereafter on the first Banking Day of each succeeding quarter until the principal balance shall be paid in full.
Interest Rates; Payment of Interest. So long as no Event of Default (hereafter defined) has occurred and subject to the terms hereof, each advance hereunder shall bear interest at a rate per annum (the "Variable Rate") equal to the Prime Rate (as hereafter defined) plus one and one-half (1.5%) percent (herein a "Variable Rate Advance"). Interest on all Variable Rate Advances shall be payable monthly beginning on the first Banking Day of the month following the date of this Note, and continuing thereafter on the first Banking Day of each succeeding month until the principal balance shall be paid in full.
Interest Rates; Payment of Interest. So long as no Event of Default has occurred, the Loan shall bear interest at a rate per annum equal to the LIBOR Rate (as hereinafter defined) plus two hundred seventy-five (275) basis points for an interest period (herein an “Interest Period”) of one month. Interest on the Loan shall be payable on the first day of each month following the last day of each Interest Period. The Bank is authorized, but not required, to charge any payment due hereunder to any account of the Co-Borrowers at the Bank.
Interest Rates; Payment of Interest. 2.5.1. The unpaid principal of the Notes (other than the Bridge Loan Notes) shall bear interest from the date hereof, at a rate per annum equal to six percent (6.00%) per annum or such higher rate as is specified in Section 3.3.
2.5.2. Accrued interest on all Notes shall be payable in arrears on each Interest Payment Date; provided that, interest accrued pursuant to Section 3.3 shall be payable on demand.
2.5.3. Each determination hereunder of interest on the Notes and fees hereunder based on per annum calculations shall be computed on the basis of a year of three hundred sixty (360) days and paid for the actual number of days elapsed (including the first day but excluding the last day).
2.5.4. The unpaid principal of the Bridge Loan Notes shall bear interest from the Bridge Loan Closing Date at a rate equal to Bridge Loan Base Rate or such higher rate as is specified in Section 3.3.
2.5.5. Additional interest shall accrue and be payable in kind on each Bridge Loan Note in an amount equal to the Bridge PIK Rate on the outstanding principal amount of such Bridge Loan Note. Such accrued additional interest shall be added to the principal of each Bridge Loan Note upon each Interest Payment Date, by increasing the then outstanding principal amount of the Bridge Loan Note by the amount of such additional interest paid in kind on such Interest Payment Date.
Interest Rates; Payment of Interest. 2.5.1 The unpaid principal of the Notes shall bear interest from the date hereof, at a rate per annum equal to six percent (6.00%) per annum or such higher rate as is specified in Section 3.3.
2.5.2 Accrued interest shall be payable in arrears on each Interest Payment Date; provided that, interest accrued pursuant to Section 3.3 shall be payable on demand.
2.5.3 Each determination hereunder of interest on the Notes and fees hereunder based on per annum calculations shall be computed on the basis of a year of three hundred sixty (360) days and paid for the actual number of days elapsed (including the first day but excluding the last day).
Interest Rates; Payment of Interest. So long as no Event of Default (hereafter defined) has occurred and subject to the terms hereof, principal outstanding hereunder shall bear interest at a variable rate (the “Variable Rate”) equal to the Prime Rate (hereinafter defined) plus one half of one percent (0.5%) per annum through and including November 30, 2008, and thereafter at the COF Rate (as hereinafter defined). All interest shall be payable in arrears commencing December 1, 2007 and on the first day of each month thereafter until the principal together with all interest and other charges payable with respect to the Loan shall be fully paid, and calculated on the basis of a 360 day year and the actual number of days elapsed. Each change in the Prime Rate shall simultaneously change the Variable Rate payable under this Note. Each change in the Cost of Funds Rate shall simultaneously change the COF Rate. From the period hereof through November 30, 2008 (the “Conversion Date”), the Borrower shall pay payments of interest only. Commencing December 1, 2008 and on the first Banking Day of each month thereafter, Borrower shall pay monthly payments of principal in an amount sufficient to amortize the amount outstanding hereunder on the Conversion Date over a five (5) year schedule. The entire principal balance shall be due and payable in full on the Maturity Date.
Interest Rates; Payment of Interest. So long as no Event of Default has occurred, each advance hereunder shall bear interest at a rate per annum equal to the LIBOR Rate (as hereinafter defined) plus two hundred seventy-five (275) basis points for an Interest Period of one (1) month (herein a “LIBOR Advance. Interest shall be calculated on the basis of a 360 day year and actual days elapsed and shall be payable monthly in arrears beginning on the first (1st) day of the month following the execution of this Note and continuing thereafter on the first day of each succeeding month, and on the last day of the Interest Period applicable thereto, until the principal balance shall be paid in full. The Bank is authorized, but not required, to charge any payment due hereunder to any account of the Borrower at the Bank.
