Interest Rates, Yield and Payment Dates Clause Samples
Interest Rates, Yield and Payment Dates. (a) The Tranche A Participation Interest and the Tranche B Participation Interest in each Advance shall bear interest at a rate of interest equal to (i) the Alternate Base Rate, or (ii) at the Lessee's election in accordance with Section 3.4 or this Section 3.8, for each day during each Interest Period with respect thereto at a rate per annum for such Interest Period equal to the Eurodollar Rate determined for such day plus the Applicable Margin. The Tranche A Participation Interest and the Tranche B Participation Interest in the initial Advance shall bear interest at a rate equal to the Alternate Base Rate until commencement of the initial Interest Period with respect thereto. The Lessee shall give irrevocable notice to the Agent, in accordance with the applicable provisions of Section 3.4 or this Section 3.8, of the length of each Interest Period to be applicable to each portion of each Advance. There shall not be more than twelve Interest Periods outstanding under Sections 3.8(a) and (b) at any time.
(b) The equity portion of each Advance (represented by the Tranche C Participation Interest in such Advance) shall accrue equity yield (the "Yield") at a rate equal to (i) the Alternate Base Rate, or (ii) at the Lessee's election in accordance with Section 3.4 or this Section 3.8, for each day during each Interest Period with respect thereto, the Eurodollar Rate determined for such day plus the Applicable Margin. This Tranche C Participation Interest in the initial Advance shall accrue Yield at a rate equal to the Alternate Base Rate until commencement of the initial Interest Period with respect thereto.
(c) If all or a portion of (i) the principal amount or equity portion of any Advance, (ii) any interest or Yield payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is equal to the Overdue Rate.
(d) Interest and Yield shall be payable in cash (except as provided in paragraph (e) below) in arrears on each Scheduled Payment Date, provided that (i) interest or Yield accruing pursuant to paragraph (c) of this Section 3.8 shall be payable from time to time on demand and (ii) each prepayment of Advances shall be accompanied by accrued interest and Yield to the date of such prepayment on the amount of Advances so prepaid.
(e) On each date which is three Business Days prior to any Scheduled Payment Date...
Interest Rates, Yield and Payment Dates. (a) Each outstanding Advance (other than that portion of the Advance to be made on the Closing Date to finance Tranche C Equity Interests, which shall bear yield at a rate equal to the Alternate Base Rate unless and until such portion of such Advance is converted to a Eurodollar Rate Advance in accordance with this SECTION 3.7(a)) shall bear interest (in the case of the Tranche A Participation Interests and Tranche B Participation Interests therein) or yield (in the case of the Tranche C Equity Interest therein) for each day during each Interest Period with respect thereto as follows:
(i) in the case of that portion of the Advances used to finance (1) during the Term, the Property Acquisition Costs and the Property Improvements Costs in respect of the Existing Facility and the Tenant Improvements and (2) after the Construction Period with respect to Expansion Improvements, the Property Improvements Costs of the Expansion Improvements:
(A) in respect of the Tranche A Participation Interests and Tranche B Participation Interests financing such Property Costs, a rate per annum for such Interest Period equal to zero percent PLUS the Applicable Margin; and
(B) in respect of the Tranche C Equity Interests financing such Property Costs, a rate per annum for such Interest Period equal to the Eurodollar Rate determined two (2) Business Days prior to the first day of such Interest Period PLUS the Applicable Margin; and
(ii) during the Construction Period with respect to Expansion Improvements only, in the case of that portion of the Advances used to finance the Property Improvements Costs of the Expansion Improvements:
(A) in respect of the Tranche A Participation Interests and the Tranche B Participation Interests financing such Property Costs, a rate per annum equal to the sum of the Eurodollar Rate with an Interest Period of one month determined two (2) Business Days prior to the first day of each such Interest Period PLUS the Applicable Margin; and
(B) in respect of the Tranche C Equity Interests financing such Property Costs, a rate per annum for such Interest Period equal to the Eurodollar Rate determined two (2) Business Days prior to the first day of such Interest Period PLUS the Applicable Margin.