Prime Rate Portion Sample Clauses

Prime Rate Portion. The Prime Rate Portion shall bear interest at the rate per annum determined by adding the Applicable Margin to the Prime Rate as in effect from time to time, provided that if the Prime Rate Portion or any part thereof is not paid when due (whether by demand or otherwise), such Portion shall bear interest, whether before or after judgment, until payment in full thereof at the rate per annum determined by adding 3% to the sum of the Applicable Margin plus the Prime Rate as from time to time in effect. Interest on the Prime Rate Portion shall be payable monthly in arrears on the last day of each calendar month in each year; and interest shall also be due and payable upon demand. Any change in the interest rate on the Prime Rate Portion resulting from a change in the Prime Rate shall be effective on the date of the relevant change in the Prime Rate.
Sample 1Sample 2
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Prime Rate Portion. Borrowers shall pay interest to the Agent for the account of each Lender on the Prime Rate Portion of the Loans on the first Business Day of each calendar month in an amount equal to the quotient of (i) the sum of the products of the unpaid principal amount of such Prime Rate Portion on each day during the preceding calendar month, multiplied by a rate equal to the Prime Rate in effect on each such day plus one-half of one percent (0.5%), divided by (ii) 360. Any change in the Prime Rate resulting from a change in the Agent's prime rate shall be effective as of the date of the relevant change. In no contingency or event whatsoever shall the interest rate charged with respect to the Loans pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such a court determines that a Lender has received interest hereunder in excess of the highest applicable rate, such interest shall, in such Lender's sole discretion, either (i) be deemed repayment of principal under the Loans or (ii) be promptly refunded to Borrowers.
Sample 1Sample 2
Prime Rate Portion. The Prime Rate Portion shall bear interest at the rate per annum equal to the Prime Rate as in effect from time to time, provided that if the Prime Rate Portion or any part thereof is not paid when due (whether by lapse of time, acceleration, or otherwise), or at the election of the Bank upon notice to the Borrower during the existence of any other Default, such Portion shall bear interest, whether before or after judgment, until payment in full thereof at the rate per annum determined by adding 2.0% to the interest rate which would otherwise be applicable thereto. Interest on the Prime Rate Portion shall be payable monthly in arrears on the last day of each calendar month; and interest after maturity shall be due and payable upon demand. Any change in the interest rate on the Prime Rate Portion resulting from a change in the Prime Rate shall be effective on the date of the relevant change in the Prime Rate.
Sample 1
Prime Rate Portion. The Borrowers shall pay interest to Agent for the account of each Lender on the Prime Rate Portion of the Loans on the first Business Day of each calendar month in an amount equal to the sum of the products of (i) the unpaid principal amount of such Prime Rate Portion on each day during the preceding calendar month, multiplied by (ii) a rate equal to the applicable Floating Rate on such day divided by 360. Any change in the Prime Rate resulting from a change in Agent's prime rate shall be effective as of the date of the relevant change.
Sample 1
Prime Rate Portion. Each Prime Rate Portion of the relevant Indebtedness shall bear interest at the rate per annum equal to the Prime Rate as in effect from time to time. All Advances and Indebtedness evidenced by the Term Notes shall initially constitute part of a Prime Rate Portion, except to the extent Debtor has otherwise timely selected a LIBOR Portion in accordance with the terms of this Item 18.
Sample 1
Prime Rate Portion. The Prime Rate Portion shall bear interest at the rate per annum equal at all times to the Prime Rate as in effect from time to time, provided that if the Prime Rate Portion or any part thereof is not paid when due (whether by demand or otherwise), such Portion shall bear interest, whether before or after judgment, until payment in full thereof at the rate per annum determined by adding 3% to the Prime Rate as from time to time in effect. Interest on the Prime Rate Portion shall be payable quarterly in arrears on the last day of each March, June, September and December (commencing September 31, 2004) in each year; and interest shall also be due and payable upon demand. Any change in the interest rate on the Prime Rate Portion resulting from a change in the Prime Rate shall be effective on the date of the relevant change in the Prime Rate.
Sample 1
Prime Rate Portion. The Prime Rate Portion of either Note shall bear interest at the rate per annum determined by adding the Applicable Margin to the Prime Rate as in effect from time to time, provided that if the Prime Rate Portion or any part thereof is not paid when due (whether by lapse of time, acceleration or otherwise) such Portion to the extent overdue shall bear interest, whether before or after judgment, until payment in full thereof at the rate per annum determined by adding 2% to the interest rate which would otherwise be applicable thereto from time to time. Interest on the Prime Rate Portion shall be payable quarterly in arrears on the last day of each September, December, March and June in each year (commencing with the last day of December, 1996) and at maturity of the applicable Note and interest after maturity (whether by lapse of time, acceleration or otherwise) shall be due and payable upon demand. Any change in the interest rate on the Prime Rate Portion resulting from a change in the Prime Rate shall be effective on the date of the relevant change in the Prime Rate.
Sample 1
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Related to Prime Rate Portion

  • Prime Rate Advances Each change in the interest rate of the Prime Rate Advances based on changes in the Prime Rate shall be effective on the effective date of such change and to the extent of such change.

  • Prime Rate Borrower may prepay principal on any portion of this Note which bears interest determined in relation to the Prime Rate at any time, in any amount and without penalty.

  • Prime Rate Loans During such periods as the Term Loan shall be comprised of Prime Rate Loans, each such Prime Rate Loan shall bear interest at a per annum rate equal to the Prime Rate; and

  • Base Rate The greater of (a) the fluctuating annual rate of interest announced from time to time by the Agent at the Agent’s Head Office as its “prime rate” or (b) one half of one percent (0.5%) above the Federal Funds Effective Rate. The Base Rate is a reference rate and does not necessarily represent the lowest or best rate being charged to any customer. Any change in the rate of interest payable hereunder resulting from a change in the Base Rate shall become effective as of the opening of business on the day on which such change in the Base Rate becomes effective, without notice or demand of any kind.

  • Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • Interest on Revolving Credit Loans Except as otherwise provided in Section 5.11,

  • Interest on Revolving Credit Advances Each Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance made to such Borrower owing to each Lender from the date of such Revolving Credit Advance until such principal amount shall be paid in full, at the following rates per annum:

  • Base Rate Loan The appropriate Borrower or Borrowers shall pay interest on the unpaid principal amount of a Base Rate Loan outstanding from time to time from the date thereof until paid at the Derived Base Rate from time to time in effect. Interest on such Base Rate Loan shall be payable, commencing June 30, 2013, and continuing on each Regularly Scheduled Payment Date thereafter and at the maturity thereof.

  • Interest on Revolving Loans The outstanding principal amount of each Revolving Loan made by each Lender shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as such Revolving Loan is a Base Rate Loan, the Base Rate plus the Applicable Margin in effect from time to time, and (ii) during such periods as such Revolving Loan is a Eurodollar Loan, the relevant Adjusted Eurodollar Rate for such Eurodollar Loan for the applicable Interest Period plus the Applicable Margin in effect from time to time.

  • Conversion to Different Type of Revolving Credit Loan The Borrowers may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Loan to a Base Rate Loan, the Borrowers shall give the Administrative Agent at least three (3) Business Days prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto and (d) no Revolving Credit Loan may be converted into a LIBOR Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the Borrowers.

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