Common use of Term Loan Interest Rate Clause in Contracts

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. (i) Subject to the provisions of Section 2.08 Sections 2.10 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 Borrowers2.20, the Term Loan shall bear interest at a fixed variable rate per annum equal to the LIBOR Rate plus three hundred fifty (350) basis points; provided, however, that Applicable Rate of five interest on the Term Loan shall at no time be less than four and one half one-quarter percent (5.54.25%) 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 Dateper annum. (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. (i) Subject to the provisions of Section 2.08 Sections 2.10 and 2.112.20, the Term Loan shall shall (ii) bear interest, interest at a variable rate per annum equal to three percent (3.0%) plus the greater of (a) the LIBOR Rate, or Rate plus three hundred twenty-five (b325) 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 Datebasis points. (iiiii) The rate of interest due hereunder shall initially be determined as of the Closing Date (iv) date of this Agreement 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. (i) Subject to the provisions of Section 2.08 Sections 2.10 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 Borrowers2.20, the Term Loan shall bear interest at a fixed variable 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 per annum equal to the Agent of such action at least LIBOR Rate plus three hundred twenty-five (3325) Business Days prior to the Closing Datebasis points. (ii) The rate of interest due hereunder shall initially be determined as of the Closing Date date of this Agreement 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.