Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of any Term Loan from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Prime-based Rate, and shall be payable in immediately available funds quarterly commencing on the first day of the fiscal quarter next succeeding the fiscal quarter during which the initial Advance of such Term Loan is made and on the first day of each fiscal quarter thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.
Appears in 2 contracts
Samples: Revolving Credit and Term Loan Agreement (Autocam Corp/Mi), Revolving Credit and Term Loan Agreement (Autocam Corp/Mi)
Prime-based Interest Payments. Interest on the unpaid balance principal of all Prime-based Advances of any the Term Loan from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Prime-based Rate, and shall be payable in immediately available funds quarterly monthly commencing on the first day of the fiscal quarter next succeeding the fiscal quarter during which the initial Advance of such Term Loan is made January 15, 2007 and on the first fifteenth day of each fiscal quarter thereafterJanuary, April, July and October thereafter in respect of the three month period then ended. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.
Appears in 2 contracts
Samples: Credit Agreement (Noble International, Ltd.), Credit Agreement (Noble International, Ltd.)
Prime-based Interest Payments. Interest on the unpaid balance principal of all Prime-based Advances of any the Term Loan from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Prime-based Rate, and shall be payable in immediately available funds quarterly commencing on the first day of the fiscal calendar quarter next succeeding the fiscal quarter during which the initial Advance of such the Term Loan is made and on the first day of each fiscal calendar quarter thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.
Appears in 2 contracts
Samples: Revolving Credit and Term Loan Agreement (MSC Software Corp), Credit Agreement (Aspect Communications Corp)
Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of any Term Loan from time to time outstanding shall accrue from the date of such Advances until paid paid, at a per annum interest rate equal to the Prime-based Rate, and shall be payable in immediately available funds quarterly monthly commencing on the first day Business Day of the fiscal quarter month next succeeding the fiscal quarter month during which the initial Advance of such Term Loan is made and on the first day Business Day of each fiscal quarter month thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.
Appears in 1 contract
Samples: Revolving Credit Agreement (Valassis Communications Inc)
Prime-based Interest Payments. Interest on the unpaid balance of all ----------------------------- Prime-based Advances of any Term Loan from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Prime-based Rate, and shall be payable in immediately available funds quarterly quarterly, commencing on the first day of the fiscal quarter next succeeding the fiscal quarter during which the initial Advance of such Term Loan is made and on the first day of each fiscal quarter thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 365 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.
Appears in 1 contract
Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of any Term Loan from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Prime-based Rate, and shall be payable in immediately available funds quarterly monthly commencing on the first day of the fiscal quarter month next succeeding the fiscal quarter month during which the initial Advance of such Term Loan is made and on the first day of each fiscal quarter month thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.
Appears in 1 contract
Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of any Term Loan from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Prime-based Rate, and shall be payable in immediately available funds quarterly monthly commencing on the first day of the fiscal calendar quarter next succeeding the fiscal calendar quarter during which the initial Advance of such Term Loan is made and on the first day of each fiscal calendar quarter thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.
Appears in 1 contract
Prime-based Interest Payments. Interest on the unpaid balance principal of all Prime-based Advances of any Term Loan from time to time outstanding shall accrue until paid at a per annum interest rate equal to the Prime-based Rate, and shall be payable in immediately available funds quarterly commencing on the first day Business Day of the fiscal quarter calendar month next succeeding the fiscal quarter calendar month during which the initial Advance of such Term Loan is made and on the first day Business Day of each fiscal quarter month thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.
Appears in 1 contract
Samples: Credit Agreement (Olympic Steel Inc)
Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of any Term Loan the Revolving Credit and all Swing Line Advances from time to time outstanding shall accrue until paid from the date of such Advance to the date repaid, at a per annum interest rate equal to the Prime-based Rate, and shall be payable quarterly in immediately available funds quarterly commencing on the first day of the fiscal quarter next succeeding the fiscal quarter during which the initial Advance of such Term Loan is made and on the first day of each fiscal quarter February, May, August and November thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.
Appears in 1 contract
Samples: Credit Agreement (Olympic Steel Inc)
Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of any Term Loan the Revolving Credit and all Swing Line Advances carried at the Prime-based Rate from time to time outstanding shall accrue until paid from the date of such Advance to the date repaid, at a per annum interest rate equal to the Prime-based Rate, and shall be payable in immediately available funds quarterly commencing on the first day of the fiscal quarter next succeeding the fiscal quarter during which the initial Advance of such Term Loan is made October 1, 2003, and on the first day of each fiscal calendar quarter thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Staktek Holdings Inc)