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Common use of On Loans Clause in Contracts

On Loans. Interest on Advances under the Revolving Loans and interest on the Term Loans, subject to Section 2.3(b) and (c) hereof, shall be payable as follows: (i) On Base Rate Advances. Interest on each Base Rate Advance shall be computed for the actual number of days elapsed on the basis of a hypothetical year of 360 days and shall be payable monthly in arrears on the first day of each month for the prior month. Interest on Base Rate Advances then outstanding shall also be due and payable on the Maturity Date. Interest shall accrue and be payable on each Base Rate Advance made with respect to the Revolving Loans and the Term Loans at the simple per annum interest rate equal to the sum of (i) the Base Rate, plus (ii) the applicable Interest Rate Margin. (ii) On Eurodollar Advances. Interest on each Eurodollar Advance shall be computed on the basis of a hypothetical 360-day year for the actual number of days elapsed and shall be payable in arrears on (x) the Payment Date for such Advance, and (y) if the Eurodollar Advance Period for such Advance is greater than one (1) months, on each one (1) month anniversary of such Advance. Interest on Eurodollar Advances then outstanding shall also be due and payable on the Maturity Date. Interest shall accrue and be payable on each Eurodollar Advance made with respect to the Revolving Loans and the Term Loans at a rate per annum equal to the sum of (i) the Eurodollar Basis applicable to such Eurodollar Advance, and (ii) the applicable Interest Rate Margin.

Appears in 3 contracts

Samples: Credit Agreement (Bull Run Corp), Credit Agreement (Bull Run Corp), Credit Agreement (Bull Run Corp)

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On Loans. Interest on Advances under the Revolving Loans and interest on the Term Loans, subject to Section 2.3(b) and (c) hereof, shall be payable as follows: (i) On Base Rate Advances. Interest on each Base Rate Advance shall be computed for the actual number of days elapsed on the basis of a hypothetical year of 360 days and shall be payable monthly in arrears on the first day of each month for the prior calendar month, commencing on July 1, 1998. Interest on Base Rate Advances then outstanding shall also be due and payable on the Maturity Date. Interest shall accrue and be payable on each Base Rate Advance made with respect to the Revolving Loans and the Term Loans at the simple per annum interest rate equal to the sum of (iA) the Base Rate, plus and (iiB) the applicable Interest Rate MarginMargin in effect for Base Rate Advances. (ii) On Eurodollar Advances. Interest on each Eurodollar Advance shall be computed on the basis of a hypothetical 360-day year for the actual number of days elapsed and shall be payable in arrears on (x) the Payment Date for such Advance, and (y) if the Eurodollar Advance Period for such Advance is greater than one three (13) months, on each one (1) three month anniversary of such Advance. Interest on Eurodollar Advances then outstanding shall also be due and payable on the Maturity Date. Interest shall accrue and be payable on each Eurodollar Advance made with respect to the Revolving Loans and the Term Loans at a rate per annum equal to the sum of (iA) the Eurodollar Basis applicable to such Eurodollar Advance, and (iiB) the applicable Interest Rate MarginMargin in effect for Eurodollar Advances.

Appears in 1 contract

Samples: Credit Agreement (Zenith Electronics Corp)

On Loans. Interest on Advances under the Revolving Loans and interest on the Term Loans, subject to Section 2.3(b) and (c) hereof, shall be payable as follows: (i) On Base Rate Advances. Interest on each Base Rate Advance shall be computed for the actual number of days elapsed on the basis of a hypothetical year of 360 days and shall be payable monthly on April 1, 2000 for the time period from the Agreement Date through March 31, 2000 and thereafter, quarterly in arrears on the first day of each month quarter for the prior monthquarter. Interest on Base Rate Advances then outstanding shall also be due and payable on the Maturity Date. Interest shall accrue and be payable on each Base Rate Advance made with respect to the Revolving Loans and the Term Loans at the simple per annum interest rate equal to the sum of (i) the Base Rate, plus (ii) the applicable Interest Rate Margin. (ii) On Eurodollar Advances. Interest on each Eurodollar Advance shall be computed on the basis of a hypothetical 360-day year for the actual number of days elapsed and shall be payable in arrears on (x) the Payment Date for such Advance, and (y) if the Eurodollar Advance Period for such Advance is greater than one three (13) months, on each one three (13) month anniversary of such Advance. Interest on Eurodollar Advances then outstanding shall also be due and payable on the Maturity Date. Interest shall accrue and be payable on each Eurodollar Advance made with respect to the Revolving Loans and the Term Loans at a rate per annum equal to the sum of (i) the Eurodollar Basis applicable to such Eurodollar Advance, and (ii) the applicable Interest Rate Margin.

Appears in 1 contract

Samples: Credit Agreement (Bull Run Corp)

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On Loans. Interest on Advances under the Revolving Loans and interest on the Term LoansLoan, subject to Section 2.3(b) and (c) hereof, shall be payable as follows: (i) On Base Rate Advances. Interest on each Base Rate Advance shall be computed for the actual number of days elapsed on the basis of a hypothetical year of 360 days and shall be payable monthly in arrears on the first day of each month for the prior calendar month, commencing on May 1, 1997. Interest on Base Rate Advances then outstanding shall also be due and payable on the Maturity Date. Interest shall accrue and be payable on each Base Rate Advance made with respect to the Revolving Loans and the Term Loans Loan at the simple per annum interest rate equal to the sum of (iA) the Base Rate, plus and (iiB) the applicable Interest Rate Margin. (ii) On Eurodollar Advances. Interest on each Eurodollar Advance shall be computed on the basis of a hypothetical 360-day year for the actual number of days elapsed and shall be payable in arrears on (x) the Payment Date for such Advance, and (y) if the Eurodollar Advance Period for such Advance is greater than one three (13) months, on each one (1) three month anniversary of such Advance. Interest on Eurodollar Advances then outstanding shall also be due and payable on the Maturity Date. Interest shall accrue and be payable on each Eurodollar Advance made with respect to the Revolving Loans and the Term Loans Loan at a rate per annum equal to the sum of (iA) the Eurodollar Basis applicable to such Eurodollar Advance, and (iiB) the applicable Interest Rate Margin.

Appears in 1 contract

Samples: Credit Agreement (Zenith Electronics Corp)

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