Common use of Normal interest rate Clause in Contracts

Normal interest rate. The Borrowers shall pay interest on each Advance on each Interest Payment Date relevant to such Advance (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment three (3) months from the commencement of the relevant Interest Period and the subsequent instalments at intervals of three (3) months thereafter or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.

Appears in 4 contracts

Samples: Master Swap Agreement (Quintana Shipping Ltd.), Loan Agreement (Quintana Shipping Ltd.), Supplemental Agreement (Quintana Shipping Ltd.)

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Normal interest rate. The Borrowers shall pay interest on each Advance in respect of each Interest Period relating thereto on each Interest Payment Date relevant to such Advance (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment three (3) months from the commencement of the relevant Interest Period and the subsequent instalments at intervals of three (3) months thereafter or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin and Margin, (b) LIBOR for such Interest PeriodPeriod and (c) Mandatory Cost (if any).

Appears in 2 contracts

Samples: Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Diana Shipping Inc.)

Normal interest rate. The Borrowers shall shall, subject to clause 6.3, pay interest on each Advance in respect of each Interest Period relating thereto on each Interest Payment Date relevant to such Advance (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment three (3) months from the commencement of the relevant Interest Period and the subsequent instalments at intervals of three (3) months thereafter or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be which is the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.of:

Appears in 1 contract

Samples: Agreement (DryShips Inc.)

Normal interest rate. The Borrowers Borrower shall pay interest on each Advance in respect of each Interest Period relating thereto on each Interest Payment Date relevant to such Advance (or, in the case of Interest Periods of more than three (3) months, 6 months by instalments, the first instalment three (3) 6 months from the commencement of the relevant Interest Period and the subsequent instalments at intervals of three (3) 6 months thereafter or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.

Appears in 1 contract

Samples: Loan Agreement (American Eagle Tankers Inc LTD)

Normal interest rate. The Borrowers shall agree to pay interest on each Advance in respect of each Interest Period relating thereto on each Interest Payment Date relevant to such Advance (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment three (3) months from the commencement of the relevant Interest Period and the subsequent instalments at intervals of three (3) months thereafter or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Periodmonths) at the rate per annum determined by the Agent Bank to be the aggregate of (a) the Margin and (b) LIBOR for such period or the Bank’s cost of funding the relevant Advance for Interest PeriodPeriods of longer than six (6) months.

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Holdings Inc.)

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Normal interest rate. The Borrowers shall agree to pay interest on each Advance or part thereof in respect of each Interest Period relating thereto on each Interest Payment Date relevant to such Advance (or, in the case of Interest Periods of more than three six (36) months, by instalments, the first instalment three of such instalments six (36) months from the commencement of the relevant Interest Period and the subsequent instalments at intervals of three six (36) months thereafter or, if shorter, and on the period from the date last day of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent Bank to be the aggregate of (a) the Margin in respect of that Advance and (b) LIBOR for such Interest Periodperiod.

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Holdings Inc.)

Normal interest rate. The Borrowers shall pay interest on each Advance on each Interest Payment Date relevant to such Advance (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment three (3) months from the commencement of the relevant Interest Period and the subsequent instalments at intervals of three (3) months thereafter or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the relevant Margin and (b) LIBOR for such Interest Period.

Appears in 1 contract

Samples: Supplemental Agreement (Quintana Shipping Ltd.)

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