Prime Rate Loans. Other than with respect to any advances made or bearing interest pursuant to Section 8.5 hereof, interest on all Obligations will be calculated at a rate per annum equal to the Prime Rate minus 0.125% per annum (the “Effective Prime Rate”) from the date incurred through the date of payment. Interest will be charged to your account monthly in arrears. Any advance bearing interest at the Effective Prime Rate shall be referred to herein as a “Prime Rate Loan”.
Appears in 8 contracts
Samples: Collection Agency Agreement, Collection Agency Agreement (Steven Madden, Ltd.), Collection Agency Agreement (Steven Madden, Ltd.)
