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Common use of Normal rate of interest Clause in Contracts

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Tranche or, as the case may be, the Loan in respect of an Interest Period shall be the aggregate of (i) the Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the "Applicable Lender") notifies the Agent at least 1 Business Day before the start of that Interest Period that its Cost of Funding exceeds LIBOR on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender's Contribution, the LIBOR Correction Rate applicable to that Applicable Lender for that Interest Period.

Appears in 1 contract

Samples: Loan Agreement (Star Bulk Management Inc.)

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Tranche or, as the case may be, the Loan Advance in respect of an Interest Period relative to that Advance shall be the aggregate of (i) the Applicable Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the "Applicable Lender") notifies the Agent at least 1 3 Business Day before the start of that Interest Period that its Cost of Funding exceeds LIBOR on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender's Contribution, the LIBOR Correction Rate applicable to that Applicable Lender for that Interest Period.

Appears in 1 contract

Samples: Loan Agreement (Seanergy Maritime Holdings Corp.)

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Tranche or, as the case may be, the Loan in respect of an Interest Period relative to that Tranche shall be the aggregate of (i) the Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the "Applicable Lender") notifies the Agent at least 1 3 Business Day Days before the start of that Interest Period that its Cost of Funding exceeds LIBOR on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender's Contribution, the LIBOR Correction Rate applicable to that Applicable Lender for that Interest Period.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Tranche or, as the case may be, the Loan in respect of an Interest Period relative to that Tranche shall be the aggregate of (i) the Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the "Applicable Lender") notifies the Agent at least 1 Business Day before the start of that Interest Period that its Cost of Funding exceeds LIBOR on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender's Contribution, the LIBOR Correction Rate applicable to that Applicable Lender for that Interest Period.,

Appears in 1 contract

Samples: Loan Agreement (Star Bulk Carriers Corp.)

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Tranche or, as the case may be, the Loan in respect of an Interest Period relative to that Tranche shall be the aggregate of (i) the Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the "Applicable Lender") notifies the Agent at least 1 Business Day before the start of that Interest Period that its Cost of Funding exceeds LIBOR on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender's Contribution, the LIBOR Correction Rate applicable to that Applicable Lender for that Interest Period.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Tranche or, as the case may be, the Loan in respect of an Interest Period relative to that Tranche shall be the aggregate of (i) the applicable Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the "Applicable Lender") notifies the Agent at least 1 Business Day before the start of that Interest Period that its Cost of Funding exceeds LIBOR on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender's Contribution, the LIBOR Correction Rate applicable to that Applicable Lender for that Interest Period.

Appears in 1 contract

Samples: Loan Agreement (Star Bulk Management Inc.)

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Tranche or, as the case may be, the Loan in respect of an Interest Period relative to that Tranche shall be the aggregate of (i) the Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the "Applicable Lender") notifies the Agent at least 1 3 Business Day Days before the start of that Interest Period that its Cost of Funding exceeds LIBOR on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender's Contribution’s Contribution in that Tranche, the LIBOR Correction Rate applicable to that Applicable Lender for that Interest Period.

Appears in 1 contract

Samples: Loan Agreement (Pyxis Tankers Inc.)