Common use of Payment of Interest; Interest Rate Clause in Contracts

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. (b) Notwithstanding the foregoing, the Borrower agrees that after the occurrence and during the continuance of an Event of Default, the Facility shall bear interest at the Default Rate. In addition, the Borrower hereby promises to pay interest (to the extent that the payment of such interest shall be legally enforceable) on any overdue interest, and on any other amount payable by the Borrower hereunder which shall not be paid in full when due (whether at stated maturity, by acceleration or otherwise), for the period commencing on the due date thereof until but not including the date the same is paid in full at the Default Rate. (c) The Borrower shall give the Facility Agent an Interest Notice specifying the Interest Period selected at least three (3) Banking Days prior to the end of any then existing Interest Period, which notice the Facility Agent agrees to forward on to all Lenders as soon as practicable. If at the end of any then existing Interest Period the Borrower fails to give an Interest Notice, the relevant Interest Period shall be three (3) months. The Borrower's right to select an Interest Period shall be subject to the restriction that no selection of an Interest Period shall be effective unless each Lender is satisfied that the necessary funds will be available to such Lender for such period and that no Event of Default or event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default shall have occurred and be continuing. (d) Accrued interest on each Tranche shall be payable in arrears on the last day of each Interest Period relating to such Tranche, except that if the Borrower shall select an Interest Period in excess of three (3) months, accrued interest shall be payable during such Interest Period on each three (3) month anniversary of the commencement of such Interest Period and upon the end of such Interest Period. (e) Interest payable at the Default Rate shall be payable from time to time on demand of the Facility Agent.

Payment of Interest; Interest Rate. (a) The Borrower hereby promises to pay to the Lenders interest on the unpaid principal amount of each Tranche the Facility Balance 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, 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 Facility Applicable Rate with respect to the Advance shall be determined by the Agent two Banking Days prior to the first day of each relevant Interest Period. The Agent shall promptly notify the Borrower 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 Borrower. (b) Notwithstanding the foregoing, the Borrower agrees that after the occurrence and during the continuance of an Event of Default, the Facility Balance shall bear interest at a rate per annum equal to the greater of (A) the Default RateRate and (B) two percent (2%) plus the sum of (x) the Applicable Margin plus (y) the LIBOR Rate for overnight or weekend deposits. In addition, the Borrower hereby promises to pay interest (to the extent that the payment of such interest shall be legally enforceable) on any overdue interest, and on any other amount payable by the Borrower hereunder which shall not be paid in full when due (whether at stated maturity, by acceleration or otherwise), for the period commencing on the due date thereof until but not including the date the same is paid in full at the Default Rate. (c) The Borrower shall give Except as provided in the next sentence, accrued interest on the Facility Agent an Interest Notice specifying the Interest Period selected at least three (3) Banking Days prior to the end of any then existing Interest Period, which notice the Facility Agent agrees to forward on to all Lenders as soon as practicable. If at the end of any then existing Interest Period the Borrower fails to give an Interest Notice, the relevant Interest Period shall be three (3) months. The Borrower's right to select an Interest Period shall be subject to the restriction that no selection of an Interest Period shall be effective unless each Lender is satisfied that the necessary funds will be available to such Lender for such period and that no Event of Default or event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default shall have occurred and be continuing. (d) Accrued interest on each Tranche Balance shall be payable in arrears (i) on the last day of each Interest Period relating to such TranchePeriod, except that if the Borrower shall select an Interest Period in excess of three (3) months, accrued interest shall be payable during such Interest Period on each three (3) month anniversary of the commencement of such Interest Period and upon the end last day of such Interest Period. , and (eii) with each repayment of principal thereof. Interest payable at the Default Rate shall be payable from time to time on demand of the Facility Agent.

Payment of Interest; Interest Rate. (a) The Borrower hereby promises to pay to the Lenders interest on the unpaid principal amount of each Tranche Advance made to the Borrower for the period commencing on the Initial Drawdown Date for date of such Tranche Advance until but not including the stated maturity thereof (whether by acceleration or otherwise) or the date of prepayment thereof (i) during the periods such Advance is a Base Rate Advance, at the Applicable RateBase Rate plus the Margin, which shall be and (ii) during the rate per annum which periods such Advance is equal to the aggregate of (a) a LIBOR Rate Advance, at the LIBOR Rate plus the Margin (b) as 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 case may be conclusive and binding upon the Borrower. (b) Notwithstanding the foregoingfrom time to time, the Borrower agrees "Applicable Rate"); provided, however, that after the occurrence and during the continuance of an Event of DefaultDefault under Section 9.1(a) or (b) or, after notice from the Facility Agent, an Event of Default mentioned elsewhere in Section 9.1, all outstanding Advances shall bear interest at the Default Rate. In addition. (b) Notwithstanding the foregoing, the Borrower hereby promises to pay interest on any Advance made to the Borrower and (to the extent that the payment of such interest shall be legally enforceable) on any overdue installment of interest, and on any other amount payable by the such Borrower hereunder which shall not be paid in full when due (whether at stated maturity, by acceleration or otherwise), for the period commencing on the due date thereof until but not including the date the same is paid in full at the Default Rate. (c) The Borrower shall give Except as provided in the Facility Agent an Interest Notice specifying the Interest Period selected at least three (3) Banking Days prior to the end of any then existing Interest Periodnext sentence, which notice the Facility Agent agrees to forward on to all Lenders as soon as practicable. If at the end of any then existing Interest Period the Borrower fails to give an Interest Notice, the relevant Interest Period shall be three (3) months. The Borrower's right to select an Interest Period shall be subject to the restriction that no selection of an Interest Period shall be effective unless each Lender is satisfied that the necessary funds will be available to such Lender for such period and that no Event of Default or event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default shall have occurred and be continuing. (d) Accrued accrued interest on each Tranche Advance shall be payable (x) in arrears respect of each Base Rate Advance, quarterly, on the last Banking Day of each calendar quarter, (y) in respect of each LIBOR Rate Advance on the last day of each Interest Period relating to such TranchePeriod, except that if the Borrower Borrowers shall select an Interest Period in excess of three (3) months, accrued interest shall be payable during such Interest Period on each three (3) month anniversary of the commencement of such Interest Period and upon the end last day of such Interest Period. , and (ez) in the case of all Advances together with each repayment of principal thereof. Interest payable at the Default Rate shall be payable from time to time on demand of the Facility Agent.

Payment of Interest; Interest Rate. (a) The Borrower 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 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 MarginMargin plus (c) Mandatory Costs (if any). The Facility Agent shall promptly notify the Borrower 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 BorrowerBorrowers. (b) Notwithstanding the foregoing, each of the Borrower Borrowers agrees that after the occurrence and during the continuance of an Event of Default, the Facility shall bear interest at the Default Rate. In addition, each of the Borrower Borrowers hereby promises to pay interest (to the extent that the payment of such interest shall be legally enforceable) on any overdue interest, and on any other amount payable by the Borrower Borrowers hereunder which shall not be paid in full when due (whether at stated maturity, by acceleration or otherwise), for the period commencing on the due date thereof until but not including the date the same is paid in full at the Default Rate. (c) The Borrower Borrowers shall give the Facility Agent an Interest Notice specifying the Interest Period selected at least three (3) Banking Days prior to the end of any then existing Interest Period, which notice the Facility Agent agrees to forward on to all Lenders as soon as practicable. If at the end of any then existing Interest Period the Borrower fails Borrowers fail to give an Interest Notice, the relevant Interest Period shall be three (3) months. The Borrower's Borrowers' right to select an Interest Period shall be subject to the restriction that no selection of an Interest Period shall be effective unless each Lender is satisfied that the necessary funds will be available to such Lender for such period and that no Event of Default or event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default shall have occurred and be continuing. (d) Accrued interest on each Tranche shall be payable in arrears on the last day of each Interest Period relating to such Tranche, except that if the Borrower Borrowers shall select an Interest Period in excess of three (3) months, accrued interest shall be payable during such Interest Period on each three (3) month anniversary of the commencement of such Interest Period and upon the end of such Interest Period. (e) Interest payable at the Default Rate shall be payable from time to time on demand of the Facility Agent.

Payment of Interest; Interest Rate. (a) The Each Borrower hereby promises to pay to the Lenders Banks interest on the unpaid principal amount of each Tranche Advance made to such Borrower for the period commencing on the Initial Drawdown Date for date of such Tranche Advance until but not including the stated maturity thereof (whether by acceleration or otherwise) or the date of prepayment thereof (i) during the periods such Advance is a Base Rate Advance, at the Applicable Base Rate, which shall be and (ii) during the rate per annum which periods such Advance is equal to the aggregate of (a) a LIBOR Rate Advance, at 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 determinationMargin per annum; provided, absent manifest errorhowever, shall be conclusive and binding upon the Borrower. (b) Notwithstanding the foregoing, the Borrower agrees that after the occurrence and during the continuance of an Event of Default, the Facility all outstanding Advances shall bear interest at the Default Rate. In addition. (b) Notwithstanding the foregoing, the each Borrower hereby promises to pay interest on any Advance made to such Borrower or any installment thereof and (to the extent that the payment of such interest shall be legally enforceable) on any overdue installment of interest, and on any other amount payable by the such Borrower hereunder which shall not be paid in full when due (whether at stated maturity, by acceleration or otherwise), for the period commencing on the due date thereof until but not including the date the same is paid in full at the Default Rate. (c) The Borrower shall give Except as provided in the Facility Agent an Interest Notice specifying the Interest Period selected at least three (3) Banking Days prior to the end of any then existing Interest Periodnext sentence, which notice the Facility Agent agrees to forward on to all Lenders as soon as practicable. If at the end of any then existing Interest Period the Borrower fails to give an Interest Notice, the relevant Interest Period shall be three (3) months. The Borrower's right to select an Interest Period shall be subject to the restriction that no selection of an Interest Period shall be effective unless each Lender is satisfied that the necessary funds will be available to such Lender for such period and that no Event of Default or event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default shall have occurred and be continuing. (d) Accrued accrued interest on each Tranche Advance shall be payable (x) in arrears respect of each Base Rate Advance, quarterly, on the last Banking Day of each calendar quarter, (y) in respect of each LIBOR Rate Advance on the last day of each Interest Period relating to such TranchePeriod, except that if the Borrower Borrowers shall select an Interest Period in excess of three (3) months, accrued interest shall be payable during such Interest Period on each three (3) month anniversary of the commencement of such Interest Period and upon the end last day of such Interest Period. , and (ez) in the case of all Advances together with each repayment of principal thereof. Interest payable at the Default Rate shall be payable from time to time on demand of the Facility Administrative Agent.

Payment of Interest; Interest Rate. (a) The Borrower Each of the Borrowers hereby promises to pay to the Lenders interest on the unpaid principal amount of each Tranche the Facility for the period commencing on the Initial 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 MarginMargin plus (c) Mandatory Costs, if applicable. The Facility Agent shall promptly notify the Borrower 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 BorrowerBorrowers. Accrued interest on the Facility shall be payable in arrears on the last day of each Interest Period, except that if the Borrowers shall select an Interest Period in excess of three (3) months, accrued interest shall be payable during such Interest Period on each three (3) month anniversary of the commencement of such Interest Period and upon the end of such Interest Period. (b) Notwithstanding the foregoing, each of the Borrower Borrowers agrees that after the occurrence and during the continuance of an Event of Default, the Facility shall bear interest at the Default Rate. In addition, each of the Borrower Borrowers hereby promises to pay interest (to the extent that the payment of such interest shall be legally enforceable) on any overdue interest, and on any other amount payable by the Borrower Borrowers hereunder which shall not be paid in full when due (whether at stated maturity, by acceleration or otherwise), for the period commencing on the due date thereof until but not including the date the same is paid in full at the Default Rate. (c) The Borrower Borrowers shall give the Facility Agent an Interest Notice specifying the Interest Period selected at least three (3) Banking Days prior to the end of any then existing Interest Period, which notice the Facility Agent agrees to forward on to all Lenders as soon as practicable. If at the end of any then existing Interest Period the Borrower fails Borrowers fail to give an Interest Notice, the relevant Interest Period shall be three (3) months. No Interest Period may extend beyond the Final Payment Date. The Borrower's Borrowers' right to select an Interest Period shall be subject to the restriction that no selection of an Interest Period shall be effective unless each Lender is satisfied that the necessary funds will be available to such Lender for such period and that no Event of Default or event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default shall have occurred and be continuing. (d) Accrued interest on each Tranche shall be payable in arrears on the last day of each Interest Period relating to such Tranche, except that if the Borrower shall select an Interest Period in excess of three (3) months, accrued interest shall be payable during such Interest Period on each three (3) month anniversary of the commencement of such Interest Period and upon the end of such Interest Period. (e) Interest payable at the Default Rate shall be payable from time to time on demand of the Facility Agent.

Payment of Interest; Interest Rate. (a) The Each Borrower hereby promises to pay to the Lenders interest on the unpaid principal amount of each Tranche Advance 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, Rate which shall be the rate per annum which is equal to the aggregate of (a) the LIBOR Rate plus (b) the Applicable Margin. The Applicable Rate with respect to the Facility shall be determined by the Administrative Agent on the first day of each calendar month. The Administrative Agent shall promptly notify the Borrower 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 BorrowerBorrowers. (b) Notwithstanding the foregoing, the Borrower agrees that after the occurrence and during the continuance of an Event of Default, the Facility Advances shall bear interest at a rate per annum equal to the greater of (A) the Default RateRate and (B) two percent (2%) plus the sum of (x) the Applicable Margin plus (y) the LIBOR Rate for overnight or weekend deposits. In addition, the Borrower Borrowers hereby promises promise to pay interest (to the extent that the payment of such interest shall be legally enforceable) on any overdue interest, and on any other amount payable by the Borrower hereunder which shall not be paid in full when due (whether at stated maturity, by acceleration or otherwise), for the period commencing on the due date thereof until but not including the date the same is paid in full at the Default Rate. (c) The Borrower shall give Except as provided in the Facility Agent an Interest Notice specifying the Interest Period selected at least three (3) Banking Days prior to the end of any then existing Interest Periodnext sentence, which notice the Facility Agent agrees to forward on to all Lenders as soon as practicable. If at the end of any then existing Interest Period the Borrower fails to give an Interest Notice, the relevant Interest Period shall be three (3) months. The Borrower's right to select an Interest Period shall be subject to the restriction that no selection of an Interest Period shall be effective unless each Lender is satisfied that the necessary funds will be available to such Lender for such period and that no Event of Default or event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default shall have occurred and be continuing. (d) Accrued accrued interest on each Tranche the Advances shall be payable in arrears (i) on the last first day of each Interest Period relating to such Tranche, except that if the Borrower shall select an Interest Period in excess calendar month and (ii) with each repayment of three (3) months, accrued interest shall be payable during such Interest Period on each three (3) month anniversary of the commencement of such Interest Period and upon the end of such Interest Period. (e) principal thereof. Interest payable at the Default Rate shall be payable from time to time on demand of the Facility Administrative Agent.

Payment of Interest; Interest Rate. (a) The Borrower 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 Original Closing 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 RateRate for such Tranche, which shall be the rate per annum which is equal to the aggregate of (a) the LIBOR Rate plus (b) the MarginMargin applicable to such Tranche plus (c) Mandatory Costs (if any). The Facility Agent shall promptly notify the Borrower Borrowers and the Lenders in writing of the Applicable Rate for each Tranche as and when determined. Each such determination, absent manifest error, shall be conclusive and binding upon the BorrowerBorrowers. (b) Notwithstanding the foregoing, each of the Borrower Borrowers agrees that after the occurrence and during the continuance of an Event of Default, the Facility shall bear interest at the Default Rate. In addition, each of the Borrower Borrowers hereby promises to pay interest (to the extent that the payment of such interest shall be legally enforceable) on any overdue interest, and on any other amount payable by the Borrower Borrowers hereunder which shall not be paid in full when due (whether at stated maturity, by acceleration or otherwise), for the period commencing on the due date thereof until but not including the date the same is paid in full at the Default Rate. (c) The Borrower Borrowers shall give the Facility Agent an Interest Notice specifying the Interest Period selected at least three (3) Banking Days prior to the end of any then existing Interest Period, which notice the Facility Agent agrees to forward on to all Lenders as soon as practicable. If at the end of any then existing Interest Period the Borrower fails Borrowers fail to give an Interest Notice, the relevant Interest Period shall be three (3) months. The Borrower's Borrowers' right to select an Interest Period shall be subject to the restriction that no selection of an Interest Period shall be effective unless each Lender is satisfied that the necessary funds will be available to such Lender for such period and that no Event of Default or event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default shall have occurred and be continuing. (d) Accrued interest on each Tranche shall be payable in arrears on the last day of each Interest Period relating to such Tranche, except that if the Borrower Borrowers shall select an Interest Period in excess of three (3) months, accrued interest shall be payable during such Interest Period on each three (3) month anniversary of the commencement of such Interest Period and upon the end of such Interest Period. (e) Interest payable at the Default Rate shall be payable from time to time on demand of the Facility Agent.

Payment of Interest; Interest Rate. (a) The Borrower hereby promises to pay to the Lenders interest on the unpaid principal amount of each Tranche the Facility 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 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. (b) Notwithstanding the foregoing, the Borrower agrees that after the occurrence and during the continuance of an Event of Default, the Facility shall bear interest at the Default Rate. In addition, the Borrower hereby promises to pay interest (to the extent that the payment of such interest shall be legally enforceable) on any overdue interest, and on any other amount payable by the Borrower hereunder which shall not be paid in full when due (whether at stated maturity, by acceleration or otherwise), for the period commencing on the due date thereof until but not including the date the same is paid in full at the Default Rate. (c) The Borrower shall give the Facility Agent an Interest Notice specifying the Interest Period selected at least three (3) Banking Days prior to the end of any then existing Interest Period, which notice the Facility Agent agrees to forward on to all Lenders as soon as practicable. If at the end of any then existing Interest Period the Borrower fails to give an Interest Notice, the relevant Interest Period shall be three (3) months. The Borrower's right to select an Interest Period shall be subject to the restriction that no selection of an Interest Period shall be effective unless each Lender is satisfied that the necessary funds will be available to such Lender for such period and that no Event of Default or event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default shall have occurred and be continuing. (d) Accrued interest on each Tranche shall be payable in arrears on the last day of each Interest Period relating to such Tranche, except that if the Borrower shall select an Interest Period in excess of three (3) months, accrued interest shall be payable during such Interest Period on each three (3) month anniversary of the commencement of such Interest Period and upon the end of such Interest Period. (e) Interest payable at the Default Rate shall be payable from time to time on demand of the Facility Agent.