Line of Credit Interest Rate. Interest on advances on the Line of Credit shall accrue at the Prime Rate (P+0.00%) per annum in effect from time to time, but in no event shall interest accrue at less than four percent (4.00%) per annum (the “Regular Line of Credit Interest Rate”). Any changes in the Regular Line of Credit Interest Rate resulting from a change in the Prime Rate shall take effect without notice at the time the Prime Rate is set.
Appears in 6 contracts
Samples: Fourth Loan Modification Agreement (ICON Leasing Fund Eleven, LLC), Fourth Loan Modification Agreement (ICON Leasing Fund Twelve, LLC), Fourth Loan Modification Agreement (Icon Income Fund Eight B Lp)
Line of Credit Interest Rate. Interest on advances on the Line of Credit shall accrue at the Prime Rate (P+0.00%) per annum in effect from time to time, time but in no event shall the interest accrue at rate be less than four percent (4.00%) per annum (the “Regular Line of Credit Interest Rate”). Any changes in the Regular Line of Credit Interest Rate resulting from a change in the Prime Rate shall take effect without notice at the time the Prime Rate is set.
Appears in 5 contracts
Samples: Commercial Loan Agreement (ICON ECI Fund Sixteen), Commercial Loan Agreement (Icon Eci Fund Fifteen, L.P.), Commercial Loan Agreement (Icon Leasing Fund Twelve, LLC)
Line of Credit Interest Rate. Interest on advances on the Line of ---------------------------- Credit shall accrue at the Prime Rate minus one-half percentage point (P+0.00P - 0.50%) per annum in effect from time to time, but in no event shall interest accrue at less than four percent (4.00%) per annum time (the “"Regular Line of Credit Interest Rate”"). Any changes in the Regular Line of Credit Interest Rate resulting from a change in the Prime Rate shall take effect without notice at the time the Prime Rate is set.
Appears in 1 contract
