Term Loan Interest Rate Sample Clauses
Term Loan Interest Rate. The principal balance shall bear interest thereon from such Advance Date at the Term Loan Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Term Loan Interest Rate will float and change on the day the prime rate changes from time to time.
Term Loan Interest Rate. (i) Subject to the provisions of Section 2.08 and 2.11, the Term Loan shall bear interest, at a rate per annum equal to three percent (3.0%) plus the greater of (a) the LIBOR Rate, or (b) two percent (2.0%); or, at the option of the Borrowers, the Term Loan shall bear interest at a fixed rate of five and one half percent (5.5%) for a period of two (2) years following the Closing Date, provided the Borrowers shall give written notice to the Agent of such action at least three (3) Business Days prior to the Closing Date.
(ii) The rate of interest due hereunder shall initially be determined as of the Closing Date and shall thereafter be adjusted as and when the LIBOR Rate changes. All such adjustments to the rate of interest shall be made and become effective as of the first day of the month following the date of any change in the LIBOR Rate and shall remain in effect until and including the day immediately preceding the next such adjustment (each such day hereinafter being referred to as an “Adjustment Date”). All such adjustments to the rate of interest shall be made and become effective as of the first Adjustment Date following such change in the LIBOR Rate. All such adjustments to said rate shall be made and become effective as of the Adjustment Date, and said rate as adjusted shall remain in effect until and including the day immediately preceding the next Adjustment Date. Interest hereunder shall be computed on the basis of a year of three hundred sixty five (365) days, but charged for actual days principal is outstanding. In no event shall the Applicable Rate exceed the Maximum Rate.
Term Loan Interest Rate. Section 2.1.1 of the Loan Agreement is hereby amended and restated in its entirety as follows:
Term Loan Interest Rate. Subject to the provisions of Section 2.07 and 2.08 of the MLA and Section 9 and 12 of this First Supplement, the portion of the Term Loan that has not been converted to a Fixed Rate Loan pursuant to Section 8(e) of this First Supplement shall bear interest at a rate equal to the LIBOR Rate plus 295 basis points. The computation of interest, amortization, maturity and other terms and conditions of the Term Loan shall be as provided in the Construction Note, provided, however, in no event shall the applicable rate exceed the Maximum Rate.
Term Loan Interest Rate. Interest shall accrue on the unpaid principal balance of the Term Loan from the Closing Date at the Fixed Rate. The interest rate is an annual rate and will be computed using a 360-day year and charged for actual days elapsed.
Term Loan Interest Rate. The principal balance of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Term Loan Interest Rate will float and change on the day the prime rate changes from time to time. Notwithstanding anything to the contrary in this Agreement, the outstanding principal balance of the Original A&R LSA Term Loans shall have accrued interest at the “Term Loan Interest Rate” (as defined in the Original A&R LSA) through the date immediately preceding the Closing Date, and any such accrued but unpaid interest shall be due and payable on the next scheduled interest payment date following the Closing Date pursuant to Section 2.2(d). (d)
Term Loan Interest Rate. The portion of the Term Loan that has not been converted to a Fixed Rate Loan pursuant to subsection (e) below shall bear interest at a rate equal to the Applicable Rate plus 325 basis points.
Term Loan Interest Rate. Advances shall bear interest on the unpaid principal balance thereof from the Funding Date to maturity at the floating interest rate of the Wall Street Prime Rate plus the Applicable Margin, computed for the actual number of days elapsed, based on a 365-day year (the "Term Loan Interest Rate").
Term Loan Interest Rate. The Borrower shall repay the Term Loan with interest at the Applicable Rate. The Borrower agrees that the Borrower will submit to the Bank the Borrower's Repricing Notice not later than two (2) London Banking Days preceding the date on which an Interest Period ends and the Applicable Rate is to be reset. In its Repricing Notice, the Borrower may elect up to three (3) different Interest Periods with respect to up to three (3) portions of the Loan (each, a "Tranche"), provided that no Tranche may be less than One Million Dollars ($1,000,000). In the event Borrower timely elects more than one Tranche, scheduled payments of principal received by the Bank shall be applied by the Bank to reduce the principal balance of each Tranche on a per capita basis.
Term Loan Interest Rate. Except as otherwise provided in this Agreement, the Term Loan Principal Debt shall accrue interest at an annual rate equal to the lesser of (i) twelve percent (12.0%) per annum and (ii) the Maximum Rate.