Term Loan Interest. Subject to Section 2.7.3, the Borrower shall pay interest on the unpaid principal amount of each Term Loan from the date of Borrowing of such Term Loan until the maturity or prepayment thereof at the following rates per annum:
(i) With respect to the principal portion of such Term Loan which is, and during such periods as such Term Loan is, a Base Rate Term Loan, at a rate per annum equal to the Base Rate (such rate to change from time to time as the Base Rate shall change) plus the Applicable Margin in respect of Base Rate Loans; or
(ii) With respect to the principal portion of such Term Loan which is, and during such periods as such Term Loan is, a SOFR Term Loan, at a rate per annum, at all times during each Interest Period for such SOFR Term Loan, equal to the Adjusted Term SOFR for such Interest Period plus the Applicable Margin in respect of SOFR Loans.
Term Loan Interest i. Subject to Section 2.6.3 and Section 2.1.2(c)(ii), Co-Borrowers shall pay interest on the unpaid principal amount of each (x) Initial Term Loan entirely in cash, at the Initial Cash Rate and (y) Additional Term Loan entirely in cash, at the Additional Cash Rate.
ii. Solely to the extent there are insufficient funds in the Revenue Account (after giving effect to the required payments under the waterfall provisions set forth in Section 3.2(b) of the Depositary Agreement) to pay required interest on each Term Loan in cash, Co-Borrowers may pay interest on each Term Loan by increasing the outstanding principal amount on each Term Loan by an amount equal to the amount of interest necessary to cure such insufficiency (a “Term PIK Election”; the resulting increased principal amount of such Term Loans, “Term PIK Principal”); provided that no such increase in principal amount with respect to any Term Loan shall exceed 50% of the amount of interest that would have been payable in cash in respect of such Term Loan but for such insufficiency of funds in the Revenue Account; provided, further, that Co-Borrowers shall be permitted to exercise such Term PIK Election on no more than four (4) Quarterly Payment Dates in the aggregate. The Co-Borrowers shall make a Term PIK Election with respect to each Quarterly Payment Date by providing notice to the Administrative Agent at least five (5) Banking Days prior to such Quarterly Payment Date. If a Term PIK Election is not made by the Co-Borrowers by such deadline, the Co-Borrowers will be deemed to have made a Cash Election for such Quarterly Payment Date. Any Term PIK Principal created hereunder as a result of a Term PIK Election with respect to the Initial Term Loans shall be documented as new series of Loans referred to hereunder as “Initial Term PIK Loans.” Any Term PIK Principal created hereunder as a result of a Term PIK Election with respect to the Additional Term Loans shall be documented as new series of Loans referred to hereunder as “Additional Term PIK Loans.” Each Initial Term PIK Loan created hereunder shall form part of the same series of Loans as any other Initial Term PIK Loans created hereunder and shall be documented as an increase in the amount of the outstanding Initial Term PIK Loans. Each Additional Term PIK Loan created hereunder shall form part of the same series of Loans as any other Additional Term PIK Loans created hereunder and shall be documented as an increase in the amount of the outstanding ...
Term Loan Interest. Except as otherwise set forth herein, Borrower shall pay interest on the unpaid principal amount of each Term Loan from the Closing Date until the maturity or prepayment thereof at one of the following rates per annum:
(i) With respect to the principal portion of such Term Loan which is, and during such periods as such Term Loan is, a Base Rate Term Loan, at a rate per annum equal to the Base Rate (such rate to change from time to time as the Base Rate shall change) plus 3.25
Term Loan Interest. Except as elsewhere provided in this Agreement with respect to Prime Rate Loans, the Term Loan shall be a LIBOR Loan with an Interest Period of one month unless in accordance with this Agreement the Borrower has requested that the Term Loan or a portion thereof be another LIBOR Loan, in which case such Term Loan or applicable portion thereof shall be the applicable other LIBOR Loan. Interest shall accrue on the Term Loan in the same manner as is provided in Section 2.3(b) and Section 2.3(c).
Term Loan Interest. Third, to the payment of interest which ------------------ shall be due and payable on the Term Loan Principal Balance at the time of such payment;
Term Loan Interest. Interest on the Term Note shall be payable monthly ------------------ beginning on the last day of the month in which the loan funds. Interest on the Term Note shall be payable at 1st Business Bank's Reference Rate of Interest plus 3/4%, which is the rate announced by Bank from time to time at its Corporate Headquarters as its Reference Rate, and which shall vary concurrently with any change in such rate as announced by Bank. Interest hereunder shall be calculated on the basis of a 360 day year on the actual number of days elapsed.
Term Loan Interest. Subject to Section 2.6.3, Borrower shall pay interest on the unpaid principal amount of each Term Loan from the date of Borrowing of such Term Loan until the maturity or prepayment thereof at one of the following rates per annum:
(i) With respect to the principal portion of such Term Loan which is, and during such periods as such Term Loan is, a Base Rate Term Loan, at a rate per annum equal to the Base Rate (such rate to change from time to time as the Base Rate shall change) plus the applicable Rate Margin minus 0.75%.
(ii) With respect to the principal portion of such Term Loan which is, and during such periods as such Term Loan is, a LIBOR Term Loan, at a rate per annum during each Interest Period for such LIBOR Term Loan equal to the LIBO Rate for such Interest Period plus the applicable Rate Margin.
Term Loan Interest. (a) Subject to Section 6.4 of the Loan Agreement, Borrower shall pay to Agent, for the benefit of Term Loan Lender, interest on the outstanding principal amount of the Term Loan at the Term Loan Interest Rate. All interest accruing with respect to the Term Loan hereunder on and after the Termination Date or the date of any Event of Default or termination hereof shall be payable on demand in accordance with Section 6.4 of the Loan Agreement.
(b) All interest charges related to the Term Loan shall be (i) calculated based upon the applicable Term Loan Interest Rate, (ii) calculated on the basis of a three hundred sixty (360) day year and actual days elapsed and (iii) paid monthly in arrears to Agent on the first day of each calendar month, or at Agent’s option, charged to Borrower’s account(s) maintained by Agent as of the first day of each calendar month subject to Section 6.4 hereof.
(c) In no event shall charges constituting interest payable by Borrowers to Agent, for the benefit of Term Loan Lender, exceed the maximum amount or the rate permitted under any applicable law or regulation, and if any such part or provision of this Amendment No. 1 or any of the other Financing Agreements is in contravention of any such law or regulation, such part or provision shall be deemed amended to conform thereto.
Term Loan Interest. (i) The Term Loans shall bear interest, at the election of the Borrower, subject to the terms and conditions hereof, as follows (“Term Loan Interest”):
Term Loan Interest. Except as otherwise provided in this Section 2.2(b), the principal amount of the Term Loan outstanding from time to time shall bear interest at the applicable Term Interest Rate. 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 Term Loan, at the option of the Bank, may accrue at the Default Rate and shall be payable upon demand from the Bank.
