Payment of Interest; Interest Rate. (a) The Borrower hereby promises to pay to the Lenders interest on the unpaid principal amount of the Facility for the period commencing on the Drawdown Date until but not including the stated maturity thereof (whether by acceleration or otherwise) or the date of prepayment thereof at the Applicable Rate. The Facility Agent shall promptly notify the Borrower and the Lenders in writing of the Applicable Rate as and when determined. Each such determination, absent manifest error, shall be conclusive and binding upon the Borrower. Accrued interest on the Facility shall be payable in arrears on each Payment Date.
Payment of Interest; Interest Rate. (a) The Borrower hereby promises to pay to the Lenders interest on the unpaid principal amount of the Facility for the period commencing on the Initial Drawdown Date until but not including the stated maturity thereof (whether by acceleration or otherwise) or the date of prepayment thereof at the Applicable Rate, which shall be the rate per annum which is equal to the aggregate of (a) the LIBOR Rate plus (b) the Applicable Margin; provided, however, that if the Borrower has requested and the Lenders have agreed to an Interest Period of less than one (1) month, for the purposes of determining the Applicable Rate, the LIBOR Rate shall be replaced with the rate equal to the sum of (i) the Short Term Prime Rate plus (ii) twenty-five one hundredths of one percent (.25%). The Facility Agent shall promptly notify the Borrower and the Lenders in writing of the Applicable Rate as and when determined. Each such determination, absent manifest error, shall be conclusive and binding upon the Borrower. Interest for the period beginning on the Initial Drawdown Date through September 15, 2010 shall be payable quarterly on each three (3) month anniversary of the Initial Drawdown Date with the exception of the interest payment due immediately prior to September 15, 2010, which shall be due on September 15, 2010. Interest for the period beginning on September 15, 2010 through the Final Payment Date shall be paid quarterly on the fifteenth day of the month in which it is due.
Payment of Interest; Interest Rate. (a) The Borrower hereby promises to pay to the Lenders interest on the unpaid principal amount of each Tranche for the period commencing on the Initial Drawdown Date for such Tranche until but not including the stated maturity thereof (whether by acceleration or otherwise) or the date of prepayment thereof at the Applicable Rate, which shall be the rate per annum which is equal to the aggregate of (a) the LIBOR Rate plus (b) the Margin. The Facility Agent shall promptly notify the Borrower and the Lenders in writing of the Applicable Rate as and when determined. Each such determination, absent manifest error, shall be conclusive and binding upon the Borrower.
Payment of Interest; Interest Rate. (a) Each of the Borrowers hereby promises to pay to the Lenders interest on the unpaid principal amount of each Tranche for the period commencing on the initial Drawdown Date for such Tranche until but not including the stated maturity thereof (whether by acceleration or otherwise) or the date of prepayment thereof at the Applicable Rate, which shall be the rate per annum which is equal to the aggregate of (a) the LIBOR Rate plus (b) the Margin plus (c) Mandatory Costs (if any). The Facility Agent shall promptly notify the Borrowers and the Lenders in writing of the Applicable Rate as and when determined. Each such determination, absent manifest error, shall be conclusive and binding upon the Borrowers.
Payment of Interest; Interest Rate. (a) The Borrower hereby agrees to pay to the Lenders as primary obligor interest on the unpaid principal amount of each Advance for the period commencing on the Drawdown Date of such Advance or if such Advance is a deemed Advance pursuant to Section 2.13 the date of the relevant drawing under the Letter of Credit until but not including the stated maturity thereof (whether by acceleration or otherwise) or the date of prepayment thereof at the Applicable Rate which shall be the rate per annum which is equal to the aggregate of (i) the LIBOR Rate for the relevant Interest Period plus (ii)
Payment of Interest; Interest Rate. Interest on the outstanding principal balance of this note (the “Note”) shall accrue, beginning from the date hereof, at a rate of 12% per annum. Interest on the outstanding principal balance of the Note shall be computed on the basis of the actual number of days elapsed and a year of three hundred and sixty (360) days and shall be payable, to the extent not previously paid, on each Interest Payment Date (as defined below), on the Maturity Date, upon earlier prepayment of this Note or in the form of shares of New Securities (as defined below) of the Borrower upon conversion of this Note as set forth in Section 1.2 below. On or prior to the 5th business day of each calendar month (each an “Interest Payment Date”), the Borrower shall pay all unpaid interest that has accrued during the previous calendar month on the outstanding principal balance of this Note. Any payments of interest on this Note may, at the sole election of the Borrower, be made in the form of the Borrower’s common stock, par value $.01 per share (“Common Stock”). If the Borrower elects to pay interest in shares of Common Stock, the Borrower shall deliver certificates representing such shares of Common Stock to the Holder on or prior to the date on which the applicable payment of interest is due. If interest is to be paid in shares of Common Stock, the Common Stock shall be valued at the Current Market Price (as defined below) as of the date that is three business days prior to the date on which the applicable payment of interest is due.
Payment of Interest; Interest Rate. (a) (a) Each Borrower hereby promises to pay to the Lenders interest on the unpaid principal amount of the Loan Balance for the period commencing on the Drawdown Date until but not including the stated maturity thereof (whether by acceleration or otherwise) or the date of prepayment thereof at the Applicable Rate which shall be the rate per annum which is equal to the aggregate of (a) the LIBOR Rate for the relevant Interest Period plus (b) the Applicable Margin. The Applicable Rate with respect to the Loan shall be determined by the Facility Agent two Banking Days prior to the first day of each relevant Interest Period. The Facility Agent shall promptly notify the Borrowers and the Lenders in writing of the Applicable Rate and the duration of each Interest Period as and when determined. Each such determination, absent manifest error, shall be conclusive and binding upon the Borrowers.
Payment of Interest; Interest Rate. On each Payment Date, beginning on the Payment Date immediately following the first Closing Date and ending on the applicable Note Maturity Date, the Borrowers shall pay interest in arrears accrued at the Interest Rate on the outstanding principal balance of each Note.
Payment of Interest; Interest Rate. On each Interest Payment Date, beginning on the Interest Payment Date immediately following the first Closing Date, the Borrower shall pay to the order of DFC interest in arrears accrued at the Interest Rate on the daily outstanding principal balance of each Note; provided, that if the Interest Payment Date immediately following any Closing Date occurs within fifteen (15) Business Days after such Closing Date, the Borrower shall make its first interest payment under the related Note on the second Interest Payment Date following such Closing Date.
Payment of Interest; Interest Rate. (a) The Borrower hereby promises to pay to the Lenders interest on the unpaid principal amount of the Loan for the period commencing on the Drawdown Date until but not including the stated maturity thereof (whether by acceleration or otherwise) or the date of prepayment thereof at the Applicable Rate, which shall be the rate per annum which is equal to the aggregate of (a) the LIBOR Rate plus (b) the Applicable Margin; provided, however, that if the Borrower has requested and the Lenders have agreed to an Interest Period of less than one (1) month, for the purposes of determining the Applicable Rate, the LIBOR Rate shall be replaced with the Lenders’ cost of funds for such period. The Facility Agent shall promptly notify the Borrower and the Lenders in writing of the Applicable Rate as and when determined. Each such determination, absent manifest error, shall be conclusive and binding upon the Borrower.
