Common use of Term Loan Interest Rates Clause in Contracts

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. 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 LIBOR Loan shall bear interest on each day during the related Interest Period at the related Adjusted Eurodollar LIBOR Rate plus the Term Loan Eurodollar LIBOR 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, or Adjusted Eurodollar Rate, or Term Loan Eurodollar LIBOR Rate Margin changes. In no event shall the interest rate on any Term Loan exceed the Highest Lawful Rate.