LIBOR Rate Advances. The Applicable Interest Rate for each such LIBOR Rate Advance shall be a per annum rate equal to the sum of the LIBOR Rate, plus the Applicable Percentage specified in clause (b) of the Applicable Percentage definition. Interest on Accordion Advances shall be payable in arrears on each Payment Date. Borrower shall have the option to fix the Applicable Interest Rate on Accordion Advances pursuant to a Hedging Agreement.
Appears in 2 contracts
Samples: Credit and Security Agreement (Sun Hydraulics Corp), Credit and Security Agreement (Sun Hydraulics Corp)
LIBOR Rate Advances. The Applicable Interest Rate for each such LIBOR Rate Advance shall be a per annum rate equal to the sum of the LIBOR Rate, plus the Applicable Percentage specified in clause (b) of the Applicable Percentage definition. Interest on Accordion Revolving Advances shall be payable in arrears on each Payment Date. Borrower shall have the option to fix the Applicable Interest Rate on Accordion Revolving Advances pursuant to a Hedging Agreement.
Appears in 2 contracts
Samples: Credit and Security Agreement (Sun Hydraulics Corp), Credit and Security Agreement (Sun Hydraulics Corp)
LIBOR Rate Advances. The Applicable Interest Rate for each such LIBOR Rate Advance shall be a per annum rate equal to the sum of the LIBOR Rate, Rate plus the Applicable Percentage specified in clause (bc) of the Applicable Percentage definition. Interest on Accordion Advances shall be payable in arrears on each Payment Date. Borrower shall have the option to fix the Applicable Interest Rate on Accordion Construction Advances pursuant to a Hedging Agreement.
Appears in 2 contracts
Samples: Credit and Security Agreement (Sun Hydraulics Corp), Credit and Security Agreement (Sun Hydraulics Corp)
