Revolving Credit Facility Applicable Rate and Default Rate. The Revolving Credit Facility Balance shall bear interest at the Revolving Credit Facility Applicable Rate which shall be equal to the aggregate of (a) LIBOR for the applicable Interest Period (determined in accordance with Section 6.5) plus (b) the then prevailing Margin plus (c) one quarter of one percent (0.25%) per annum. Any principal payment with respect to the Revolving Credit Facility not paid when due, whether by acceleration or otherwise, shall bear interest thereafter at a rate per annum of two percent (2.0%) over the Revolving Credit Facility Applicable Rate in effect with respect to such payment at the time of such default (the "Revolving Credit Facility Default Rate").
Appears in 4 contracts
Samples: Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp), Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp), Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp)
