Common use of Payment of Senior Notes Clause in Contracts

Payment of Senior Notes. The Company shall pay the principal of, premium, if any, and interest on the Senior Notes from the Issue Date, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, quarterly in arrears on each Interest Payment Date and in the manner provided in the Senior Notes at the rate per annum, reset quarterly, equal to 3-month LIBOR (as defined in the Senior Notes) plus 500 basis points until the principal hereof shall have become due and payable, and on any overdue principal and (without duplication and to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the same rate per annum compounded quarterly. The amount of interest payable on any Interest Payment Date shall be computed on the basis of the actual number of days elapsed and a 360-day year.

Payment of Senior Notes. The Company shall pay the principal of, premium, if any, and interest on the Senior Notes from the Issue Date, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, quarterly in arrears on each Interest Payment Date and in the manner provided in the Senior Notes at the a floating rate per annum, reset quarterly, equal to 3-month LIBOR (as defined in the Senior Notes) plus 500 basis points 5.50% until the principal hereof shall have become due and payable, and on any overdue principal and (without duplication and to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the same rate per annum compounded quarterly. The amount of interest payable on any Interest Payment Date shall be computed on the basis of the actual number of days elapsed and a 360-day year.