Common use of Loan Interest Rates Clause in Contracts

Loan Interest Rates. Borrower shall pay interest on the unpaid principal amount of each Loan from the date of such Loan until the maturity or prepayment thereof at one of the following rates per annum: (a) With respect to the principal portion of each Revolving Loan that is, and during such periods as such Revolving Loan is, a Base Rate Loan, at a rate per annum equal to the Alternate Base Rate plus the Applicable Rate; (b) With respect to the principal portion of each Revolving Loan that is, and during such periods as such Revolving Loan is, a LIBOR Loan, at a rate per annum during each Interest Period for such LIBOR Loan equal to the LIBO Rate for such Interest Period plus the Applicable Rate; and (c) With respect to the principal portion of each Swingline Loan, prior to the applicable Swingline Loan Maturity Date, at the applicable rate per annum as agreed in writing between Borrower and the relevant Swingline Lender prior to the making of such Swingline Loan.

Appears in 6 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co)

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Loan Interest Rates. Borrower shall pay interest on the unpaid principal amount of each Loan from the date of such Loan until the maturity or prepayment thereof at one of the following rates per annum: (a) With respect to the principal portion of each Revolving Loan that is, and during such periods as such Revolving Loan is, a Base Rate an ABR Loan, at a rate per annum equal to the Alternate Base Rate plus the Applicable Rate; (b) With respect to the principal portion of each Revolving Loan that is, and during such periods as such Revolving Loan is, a LIBOR Loan, at a rate per annum during each Interest Period for such LIBOR Loan equal to the Adjusted LIBO Rate for such Interest Period plus the Applicable Rate; and (c) With respect to the principal portion of each Swingline Loan, prior to the applicable Swingline Loan Maturity Date, at the applicable rate per annum as agreed in writing between Borrower and the relevant Swingline Lender prior to the making of such Swingline Loan.

Appears in 2 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Teco Energy Inc)

Loan Interest Rates. Borrower shall pay interest on the unpaid principal amount of each Loan from the date of such Loan until the maturity or prepayment thereof at one of the following rates per annum: (a) With respect to the principal portion of each Revolving Loan that is, and during such periods as such Revolving Loan is, a Base Rate Loan, at a rate per annum equal to the Alternate Base Rate plus the Applicable Rate; (b) With respect to the principal portion of each Revolving Loan that is, and during such periods as such Revolving Loan is, a LIBOR SOFR Loan, at a rate per annum during each Interest Period for such LIBOR SOFR Loan equal to the LIBO Rate Adjusted Term SOFR for such Interest Period plus the Applicable Rate; and (c) With respect to the principal portion of each Swingline Loan, prior to the applicable Swingline Loan Maturity Date, at the applicable rate per annum as agreed in writing between Borrower and the relevant Swingline Lender prior to the making of such Swingline Loan.

Appears in 2 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co)

Loan Interest Rates. Borrower shall pay interest on the unpaid principal amount of each Loan from the date of such Loan until the maturity or prepayment thereof at one of the following rates per annum: (a) With respect to the principal portion of each Revolving Loan that is, and during such periods as such Revolving Loan is, a Base Rate Loan, at a rate per annum equal to the Alternate Base Rate plus the Applicable Rate; (b) With respect to the principal portion of each Revolving Loan that is, and during such periods as such Revolving Loan is, a LIBOR LIBORSOFR Loan, at a rate per annum during each Interest Period for such LIBOR LIBORSOFR Loan equal to the LIBO Rate RateAdjusted Term SOFR for such Interest Period plus the Applicable Rate; and (c) With respect to the principal portion of each Swingline Loan, prior to the applicable Swingline Loan Maturity Date, at the applicable rate per annum as agreed in writing between Borrower and the relevant Swingline Lender prior to the making of such Swingline Loan.

Appears in 1 contract

Samples: Credit Agreement (Tampa Electric Co)

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Loan Interest Rates. Borrower shall pay interest on the unpaid principal amount of each Loan from the date of such Loan until the maturity or prepayment thereof at one of the following rates per annum: (a) With respect to the principal portion of each Revolving Loan that is, and during such periods as such Revolving Loan is, a Base Rate Loan, at a rate per annum equal to the Alternate Base Rate plus the Applicable Rate; (b) With respect to the principal portion of each Revolving Loan that is, and during such periods as such Revolving Loan is, a LIBOR SOFR Loan, at a rate per annum during each Interest Period for such LIBOR SOFR Loan equal to the LIBO Rate Adjusted Term SOFR for such Interest Period plus the Applicable Rate; and (c) With respect to the principal portion of each Swingline Loan, prior to the applicable Swingline Loan Maturity Date, at the applicable rate per annum as agreed in writing between Borrower and the relevant Swingline Lender prior to the making of such Swingline Loan.

Appears in 1 contract

Samples: Credit Agreement (Tampa Electric Co)

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