Term Loan Interest Rates. Subject to Section 2.08(c), the Borrowers shall pay interest on the unpaid principal amount of the Term Loan from the date of the Term Loan until paid in full, at the following rates per annum:
(i) During such periods as any Portion of the Term Loan is a Base Rate Portion, at a rate per annum on such Portion equal to the Base Rate plus the Applicable Margin therefor, such rate to change from time to time as the Applicable Margin or Base Rate shall change; and
(ii) During such periods as any Portion of the Term Loan is a LIBOR Portion, at a rate per annum on such Portion equal at all times during each Interest Period for such Portion to the LIBOR Rate for such Interest Period plus the Applicable Margin therefor, such rate to change from time to time as the Applicable Margin or LIBOR Rate shall change. Each Base Rate Portion of the Term Loan shall be in a minimum amount of $100,000 or an integral multiple of $100,000 in excess thereof and each LIBOR Portion of the Term Loan shall be in a minimum amount of $500,000 or an integral multiple of $100,000 in excess thereof (except to the extent that any lesser Portion results from a mandatory prepayment of the Term Loans pursuant to Section 2.07(c)). The number of LIBOR Portions of the Term Loan Borrowing shall not exceed four (4) at any time.
Term Loan Interest Rates. Each Term Loan shall bear interest as follows: (i) unless the Default Rate shall apply, (A) each Base Rate Loan shall bear interest on each day outstanding at the Base Rate plus the Term Loan Base Rate Margin in effect on such day, and (B) each Eurodollar Loan shall bear interest on each day during the related Interest Period at the related Adjusted Eurodollar Rate plus the Term Loan Eurodollar Rate Margin in effect on such day and (ii) during a Default Rate Period, all Term Loans shall bear interest on each day outstanding at the Default Rate. If an Event of Default based upon Section 8.1(a) or Section 8.1(b) or, with respect to Borrower, based upon Section 8.1(i)(i), (i)(ii) or (i)(iii) exists and the Term Loans are not bearing interest at the Default Rate, the past due principal and past due interest shall bear interest on each day outstanding at the Default Rate. The interest rate shall change whenever the applicable Base Rate, Term Loan Base Rate Margin, Adjusted Eurodollar Rate, or Term Loan Eurodollar Rate Margin changes. In no event shall the interest rate on any Term Loan exceed the Highest Lawful Rate.
Term Loan Interest Rates. Borrower shall pay interest on the unpaid principal amount of each Term Loan from the date of such Term Loan until the Term Loan Maturity Date, at the following rates per annum:
(i) During such periods as any portion of such Term Loan is a Base Rate Portion, at a rate per annum on such Portion equal to the Base Rate plus the Applicable Margin therefor, such rate to change from time to time as the Applicable Margin or Base Rate shall change; and
(ii) During such periods as any portion of such Term Loan is a LIBOR Portion, at a rate per annum on such Portion equal at all times during each Interest Period for such Portion to the LIBOR Rate for such Interest Period plus the Applicable Margin therefor, such rate to change from time to time as the Applicable Margin shall change; Provided, however, that all portions of the Term Loans outstanding during the period commencing on the Closing Date and ending three (3) Business Days thereafter shall be Base Rate Portions during such period. The Applicable Margins for Base Rate Portions and LIBOR Portions of Term Loans shall be determined as provided in the Pricing Grid and may change for each calendar quarter, with the exception that until March 31, 2014 the Applicable Margins shall be at pricing Level 2 in the Pricing Grid. Each Portion of the Term Loan Borrowing shall be in a minimum amount of $1,000,000 or an integral multiple of $100,000 in excess thereof (except to the extent that any lesser Portion results from a mandatory prepayment of the Term Loan Borrowing pursuant to Subparagraph 2.06(c)). No more than seven (7) LIBOR Portions may be outstanding at any time.
Term Loan Interest Rates. (i) Tranche 1 and Tranche 2. Except as set forth in Section 2.3(b), the principal amount outstanding for the Tranche 1 Advance and each Tranche 2 Advance shall accrue interest at a fixed per annum rate equal to the Basic Rate in effect on the date of such Tranche 1 Advance or Tranche 2 Advance, respectively, plus the Applicable Margin, not in any case less than 5.0% per annum
(ii) Tranche 3. Except as set forth in Section 2.3(b), the principal amount outstanding for each Tranche 3 Advance shall accrue interest at a fixed per annum rate equal to the Basic Rate in effect on the date of such Tranche 3 Advance plus the Applicable Margin, not in any case less than 6.5% per annum
Term Loan Interest Rates. The Borrower shall pay interest for each Term Loans at the interest rates as set forth below:
Term Loan Interest Rates. 14 3.5 Repayment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 3.6 Term Loan Fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 3.7 Term Loan Unused Portion Fee . . . . . . . . . . . . . . . . . . . . . . . . 15 SECTION 4.
Term Loan Interest Rates. Each time Borrower requests a Funding, at any time prior to the expiration of each Interest Period for any LIBOR Rate Borrowing, and at any other time with respect to Prime Rate Borrowings, so long as there exists no Event of Default, Borrower may elect either the Prime Borrowing Rate or the LIBOR Borrowing Rate
Term Loan Interest Rates. Borrower shall pay interest on the first day of each month on the unpaid principal amount of the Term Loan from the date the Term Loan is made until paid in full at one of the following rates, based on a year of 360 days and actual days elapsed: i During such period as any Portion of the Term Loan is a Prime Rate Loan, at a rate per annum on such Portion equal to the Prime Rate plus one percent (1.0%), such rate to change from time to time as the Prime Rate shall change; and (ii) During such period as any Portion of the Term Loan is a LIBOR Loan, at a rate per annum equal at all times during each Interest Period for such Portion to LIBOR for such Interest Period plus three and one-half percent (3.5%).
Term Loan Interest Rates. The Term Loan shall bear interest:
(i) from the Closing Date until July 31, 2013, at a fixed rate per annum equal to:
(A) if the Borrower is in compliance with the Working Capital covenant set forth in Section 5.02(d) (as tested monthly), five and three-quarters percent (5.75%); and
(B) if the Borrower is not in compliance with the Working Capital covenant set forth in Section 5.02(d) (as tested monthly), seven and three-quarters percent (7.75%). For purposes of this Section 2.02(c)(i)(B), the Default Rate shall not be assessed on the outstanding Term Loan balance prior to July 31, 2013, for a default or Event of Default based solely on Borrower’s failure to maintain the required Working Capital set forth in Section 5.02(d).
(ii) from August 1, 2013 until September 1, 2014 (the “Term Loan Adjustment Date”), at a fixed rate equal to five and three-quarters percent (5.75%) per annum, subject to Section 2.05.
(iii) on Term Loan Adjustment Date, the interest rate on the Term Loan will adjust and be recalculated by adding 350 basis points to the then “current index;” provided that the adjusted interest rate shall not be less than five percent (5.00%) per annum, subject to Section 2.05. The current index for adjustments will be the Lender’s cost of funds for three-year adjustable rate products. Lender’s cost of funds is the rate determined by the Lender to represent the Lender’s direct and indirect cost of acquiring funds with a term equal to the applicable interest period and interest rate product selected by the Borrower. Interest shall be computed on the basis of a year of three hundred sixty five (365) days but charged for actual days principal is outstanding.
Term Loan Interest Rates
