On Eurodollar Borrowings. Interest on each Eurodollar Borrowing shall be computed for the actual number of days elapsed on the basis of a hypothetical year of three hundred sixty (360) days and shall be payable in arrears on (x) the Payment Date for such Borrowing, and (y) if the Interest Period for such Borrowing is greater than three (3) months, on the last day of each three month period commencing on the initial date of such Interest Period and on the last day of the applicable Interest Period for such Borrowing. Interest on Eurodollar Borrowings then outstanding shall also be due and payable on the Revolving Commitment Termination Date (or, in any event, the date of any earlier prepayment in full of the Obligations). Interest shall accrue and be payable on each Eurodollar Borrowing at the simple per annum interest rate equal to the sum of (A) the Adjusted LIBO Rate applicable to such Eurodollar Borrowing and (B) the Applicable Margin for Eurodollar Borrowings.
On Eurodollar Borrowings. Interest on each Eurodollar Borrowing shall be payable in Cash in arrears on (x) the Payment Date for such Borrowing, and (y) if the Interest Period for such Borrowing is greater than three (3) months, on the last day of each three month period commencing on the initial date of such Interest Period and on the last day of the applicable Interest Period for such Borrowing; provided, that, at all times other than upon the Maturity Date with respect to Term C Loans, that portion of accrued interest constituting the PIK Margin with respect to the Term C Loans shall not be paid in Cash but shall be paid on the due date thereof by capitalizing such interest in the manner set forth in the definition of PIK Amount. Interest on Eurodollar Borrowings then outstanding shall also be due and payable in Cash on the applicable Maturity Date and, with regard to Revolving Loans, on the Revolving Commitment Termination Date (or, in any event, the date of any earlier prepayment in full of the Obligations). Interest shall accrue and be payable on each Eurodollar Borrowing at a rate per annum equal to the sum of (A) the Adjusted LIBO Rate applicable to such Eurodollar Borrowing and (B) the Applicable Margin for Eurodollar Borrowings.
