Common use of Non-Formula Advances Clause in Contracts

Non-Formula Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Formula Line shall accrue interest at a floating per annum rate equal to one and one quarter percent (1.25%) below the Prime Rate, which interest shall be payable monthly in accordance with Section 2.3(f) below.

Non-Formula Advances. Subject to Section 2.3(b), the principal amount outstanding under the Non-formula Revolving Formula Line shall accrue interest at a floating per annum rate equal to the greater of the (i) Prime Rate plus one percent (1.00%) and one (ii) four and one-quarter percent (1.254.25%) below the Prime Rate), which interest shall be payable monthly monthly, in arrears, in accordance with Section 2.3(f) below.