Common use of Payment of Interest on the Prime Rate Basis Clause in Contracts

Payment of Interest on the Prime Rate Basis. The interest payable in accordance with Section 5.1 and calculated in the manner described therein shall be payable to the Agent monthly, in arrears, on the last day of each month or on such other date (limited to once per month) as the Agent may determine and advise the Borrower from time to time, the first payment of which shall be payable on the last day of the month in which the first Prime Rate Advance or US Base Rate Advance, respectively, was made.

Payment of Interest on the Prime Rate Basis. The interest payable in accordance with Section 5.1 and calculated in the manner described therein shall be payable to the Agent monthly, in arrears, on the last day of each month or on such other date (limited to once per month) as the Agent may determine and advise the Borrower from time to time, the first payment of which shall be payable exigible on the last day of the month in which the first Prime Rate Advance or US Base Rate Advance, respectively, was made.

Payment of Interest on the Prime Rate Basis. The interest payable in accordance with Section 5.1 and calculated in the manner described therein shall be payable to the Agent for the account of the Lenders monthly, in arrears, on the last day first Business Day of each the following month or on such other date (limited to once per month) as the Agent may determine and advise the Borrower from time to time, and on the last day of the Term, the first payment of which shall be payable exigible on the last day first Business Day of the month following the month in which the first Prime Rate Advance or US Base Rate Advance, respectively, was made.