Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), Borrowers shall pay to Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent (2.0%) per annum.
Appears in 2 contracts
Samples: Loan and Security Agreement (Blackboard Inc), Loan and Security Agreement (Blackboard Inc)
Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance or Supplemental Equipment Advance (unless the Funding Date is the first Business Day of the month), Borrowers shall pay to Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent (2.0%) per annum.
Appears in 2 contracts
Samples: Loan and Security Agreement (Blackboard Inc), Loan and Security Agreement (Blackboard Inc)
Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, on behalf of Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent pursuant to paragraph "(2.0%) per annumb)" of this Section.
Appears in 1 contract
Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), ) Borrowers shall pay to Bank, on behalf of Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s 's Prime Rate, plus two percent (2.0%) per annum.
Appears in 1 contract
Samples: Loan and Security Agreement (Manugistics Group Inc)
Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance or Equipment Facility 2 Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, Bank the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent pursuant to paragraph “(2.0%) per annumb)” of this Section.
Appears in 1 contract
Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Facility 2 Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, Bank the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent pursuant to clause (2.0%b) per annumof this Section.
Appears in 1 contract
Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, Bank the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent pursuant to paragraph “(2.0%) per annumb)” of this Section.
Appears in 1 contract
Interim payment. In addition to the Scheduled Term Loan Payments, on the Funding Date for each Equipment Corporate Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent (2.0%) per annum.
Appears in 1 contract
Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), ) Borrowers shall pay to Bank, on behalf of Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Basic Rate, plus two percent .
(2.0%ii) per annum.Sections 2.1.2(e) and (f) of the Loan Agreement are amended and restated in their entirety as follows:
Appears in 1 contract
Samples: Loan and Security Agreement (Manugistics Group Inc)