Common use of Revolving Loan Interest and Payments Clause in Contracts

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans shall be due and payable monthly, in arrears, commencing on October 5, 2006 and continuing on the fifth day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving Loans, at the option of the Bank, may accrue at the Default Rate and shall be payable upon demand from the Bank.

Appears in 3 contracts

Samples: Loan and Security Agreement (US BioEnergy CORP), Loan and Security Agreement (CHS Inc), Loan and Security Agreement (US BioEnergy CORP)

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Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Base Rate Loans, shall be due and payable monthly, in arrears, commencing on October 5, 2006 and continuing on the fifth day last Business Day of each calendar month thereafter, and on the Revolving Loan Maturity Datemonth. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving Loans, at the option of the Bank, may accrue at the Default Rate and shall be payable upon demand from the Bank.

Appears in 2 contracts

Samples: Loan and Security Agreement (Primoris Services CORP), Loan and Security Agreement (Rhapsody Acquisition Corp.)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Base Rate Loans, shall be due and payable monthly, in arrears, commencing on October 5September 30, 2006 2009 and continuing on the fifth last day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving Loans, at the option of the Bank, may accrue at the Default Rate and shall be payable upon demand from the Bank.

Appears in 2 contracts

Samples: Loan and Security Agreement (Intricon Corp), Loan and Security Agreement (Intricon Corp)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Base Rate Loans, shall be due and payable monthly, in arrears, commencing on October 5, 2006 and continuing (i) on the fifth day last Business Day of each calendar month commencing on June 30, 2004 and continuing thereafter, and (ii) on the Revolving Loan Maturity DateDate applicable thereto. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable (i) on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, (ii) on the date of any principal repayment of a LIBOR Loan Loan, and (iii) on the Revolving Loan Maturity DateDate applicable thereto. From and after maturity, Any amount of principal or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving LoansLoans which is not paid when due, whether at the option of the Bankstated maturity, may accrue by acceleration or otherwise, shall bear interest payable on demand at the Default Rate and shall be payable upon demand from the BankRate.

Appears in 2 contracts

Samples: Loan and Security Agreement (PLM Equipment Growth Fund V), Loan and Security Agreement (PLM Equipment Growth Fund V)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the The principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Base Rate Loans, shall be due and payable monthly, in arrears, commencing on October 5, 2006 and continuing on the fifth day last Business Day of each calendar month thereafter, and on the Revolving Loan Maturity Datemonth. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity DateDates. From and after maturity, or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving Loans, at the option of the Bank, may accrue at the Default Rate and shall be payable upon demand from the Bank.

Appears in 2 contracts

Samples: Loan and Security Agreement (Primoris Services CORP), Loan and Security Agreement (Primoris Services CORP)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Loans, shall be due and payable monthly, in arrears, commencing on October 5June 1, 2006 2004 and continuing on the fifth first (1st) day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period, provided that interest accrued on each LIBOR Loan having an Interest Period (provided, however, that for Interest Periods of six months, accrued interest longer than three months shall also be paid payable on the date which is three months from the first last day of each three-month interval during such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, Any amount of principal or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving LoansLoans which is not paid when due, whether at the option of the Bankstated maturity, may accrue by acceleration or otherwise, shall bear interest payable on demand at the Default Rate and shall be payable upon demand from the BankRate.

Appears in 1 contract

Samples: Credit Agreement (Ipalco Enterprises, Inc.)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(bSECTION 2.1(B), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Loans, shall be due and payable monthly, in arrears, commencing on October 5January 31, 2006 2002 and continuing on the fifth last day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, Any amount of principal or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving LoansLoans which is not paid when due, whether at the option of the Bankstated maturity, may accrue by acceleration or otherwise, shall bear interest payable on demand at the Default Rate and shall be payable upon demand from the BankRate.

Appears in 1 contract

Samples: Loan Agreement (Titan International Inc)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Loans, shall be due and payable monthlyquarterly, in arrears, commencing on October 5March 30, 2006 2008 and continuing on the fifth day last Business Day of each calendar month June, September, December and March thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving Loans, at the option of the Bank, may accrue at the Default Rate and shall be payable upon demand from the Bank.

Appears in 1 contract

Samples: Loan and Security Agreement (Argyle Security, Inc.)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Loans, shall be due and payable monthly, in arrears, commencing on October 5February 1, 2006 and continuing on the fifth first day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving Loans, at the option of the Bank, may accrue at the Default Rate and shall be payable upon demand from the Bank.

Appears in 1 contract

Samples: Loan and Security Agreement (Smithway Motor Xpress Corp)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Loans, shall be due and payable monthlyquarterly, in arrears, commencing on October 531, 2006 2008, and continuing on the fifth last day of each calendar month quarter thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six monthsmonths or longer, accrued interest shall also be paid on the date which is every three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving Loans, at the option of the BankLender, may accrue at the Default Rate and shall be payable upon demand from the BankLender.

Appears in 1 contract

Samples: Loan and Security Agreement (Hill International, Inc.)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Loans, shall be due and payable monthlyquarterly, in arrears, commencing on October 5December 31, 2006 and continuing on the fifth last day of each calendar month quarter thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving Loans, at the option of the BankLender, may accrue at the Default Rate and shall be payable upon demand from the BankLender.

Appears in 1 contract

Samples: Loan and Security Agreement (Hill International, Inc.)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Loans, shall be due and payable monthly, in arrears, commencing on October 5June 1, 2006 2003 and continuing on the fifth first (1st) day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period, provided that interest accrued on each LIBOR Loan having an Interest Period (provided, however, that for Interest Periods of six months, accrued interest longer than three months shall also be paid payable on the date which is three months from the first last day of each three-month interval during such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, Any amount of principal or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving LoansLoans which is not paid when due, whether at the option of the Bankstated maturity, may accrue by acceleration or otherwise, shall bear interest payable on demand at the Default Rate and shall be payable upon demand from the BankRate.

Appears in 1 contract

Samples: Credit Agreement (Ipalco Enterprises Inc)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Loans, shall be due and payable monthlyquarterly, in arrears, commencing on October 5September 30, 2006 2004 and continuing on the fifth last day of each calendar month quarter thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be due and payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date; provided, however, that with respect to any LIBOR Loan with an Interest Period of greater than ninety (90) days, accrued and unpaid interest also shall be due and payable on the last day of each calendar quarter occurring during such Interest Period. From and after maturity, Any amount of principal or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving LoansLoans which is not paid when due, whether at the option of the Bankstated maturity, may accrue by acceleration or otherwise, shall bear interest payable on demand at the Default Rate and shall be payable upon demand from the BankRate.

Appears in 1 contract

Samples: Credit Agreement (Integrity Media Inc)

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Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Base Rate Loans, shall be due and payable monthly, in arrears, commencing on October 5May 31, 2006 2007 and continuing on the fifth last day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving Loans, at the option of the Bank, may accrue at the Default Rate and shall be payable upon demand from the Bank.

Appears in 1 contract

Samples: Loan and Security Agreement (Intricon Corp)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Base Rate Loans shall be due and payable monthly, in arrears, commencing on October 5June 15, 2006 and continuing on the fifth 15th day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving Loans, at the option of the Bank, may accrue at the Default Rate and shall be payable upon demand from the Bank.

Appears in 1 contract

Samples: Bridge Loan Agreement (Hunt J B Transport Services Inc)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), (i) the principal amount of the Revolving Prime Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Prime Rate, and (ii) the principal amount of the LIBOR Loans outstanding from time to time shall bear interest at the LIBOR Rate plus the Applicable Margin (Regular). Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Loans, shall be due and payable monthly, in arrears, commencing on October 5January 1, 2006 2002 and continuing on the fifth first day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, or after During the occurrence and during the continuation continuance of an Event of Default, interest on the outstanding principal balance of the Revolving Loans, at the option of the Bank, may accrue Loans shall bear interest payable on demand at the Default Rate and shall be payable upon demand from the BankRate.

Appears in 1 contract

Samples: Loan Agreement (Eloyalty Corp)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Loans, shall be due and payable monthly, in arrears, commencing on October 5May 1, 2006 2001 and continuing on the fifth first day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable LIBOR on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date; provided however, that interest on six month LIBOR borrowings shall be payable quarterly. From and after maturity, Any amount of principal or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving LoansLoans which is not paid when due, whether at the option of the Bankstated maturity, may accrue by acceleration or otherwise, shall bear interest payable on demand at the Default Rate and shall be payable upon demand from the BankRate.

Appears in 1 contract

Samples: Revolving Loan Agreement (Aar Corp)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Loans, shall be due and payable monthly, in arrears, commencing on October 5February 27, 2006 2009 and continuing on the fifth day last Business Day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving Loans, at the option of the Bank, may accrue at the Default Rate and shall be payable upon demand from the Bank.

Appears in 1 contract

Samples: Loan and Security Agreement (Lifeway Foods Inc)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Rate Loans, shall be due and payable monthly, in arrears, commencing on October 5November 1, 2006 2001 and continuing on the fifth first day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period (provided, however, that for Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date; provided however, that interest on six month LIBOR borrowings shall be payable quarterly. From and after maturity, Any amount of principal or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving LoansLoans which is not paid when due, whether at the option of the Bankstated maturity, may accrue by acceleration or otherwise, shall bear interest payable on demand at the Default Rate and shall be payable upon demand from the BankRate.

Appears in 1 contract

Samples: Revolving Loan Agreement (Aar Corp)

Revolving Loan Interest and Payments. Except as otherwise provided in this Section 2.1(b), the principal amount of the Revolving Loans outstanding from time to time shall bear interest at the applicable Revolving Interest Rate. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are Prime Loans Loans, shall be due and payable monthly, in arrears, commencing on October 5June 1, 2006 2002 and continuing on the fifth first (1st) day of each calendar month thereafter, and on the Revolving Loan Maturity Date. Accrued and unpaid interest on the unpaid principal balance of all Revolving Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each Interest Period, provided that interest accrued on each LIBOR Loan having an Interest Period (provided, however, that for Interest Periods of six months, accrued interest longer than three months shall also be paid payable on the date which is three months from the first last day of each three-month interval during such Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Revolving Loan Maturity Date. From and after maturity, Any amount of principal or after the occurrence and during the continuation of an Event of Default, interest on the outstanding principal balance of the Revolving LoansLoans which is not paid when due, whether at the option of the Bankstated maturity, may accrue by acceleration or otherwise, shall bear interest payable on demand at the Default Rate and shall be payable upon demand from the BankRate.

Appears in 1 contract

Samples: Credit Agreement (Ipalco Enterprises Inc)

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