Term Rate Loans. Interest accrued on each Term Rate Loan (other than, for the avoidance of doubt, a Swing Line Loan) shall be payable on the last day of its applicable Interest Period and on any date on which such Term Rate Loan is prepaid, whether by acceleration or otherwise, and on the Facility Termination Date. Interest accrued on each Term Rate Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period.
Term Rate Loans. Except as otherwise provided herein, a Term Rate Loan may be continued or converted only on the last day of an Interest Period for such Term Rate Loan. During the existence of a Default, no Loans may be requested as, or converted to or continued as Term Rate Loans without the consent of the Required Lenders, and the Required Lenders may demand that any or all of the outstanding Term SOFR Loans denominated in Dollars be converted immediately to Base Rate Loans and any or all of the then outstanding Alternative Currency Loans be prepaid, or redenominated into Dollars in the amount of the Dollar Equivalent thereof, on the last day of the then current Interest Period with respect thereto.
Term Rate Loans. Each SOFR Loan shall bear interest at a rate per annum equal to Adjusted Term SOFR for the related Interest Period for such Borrowing plus the Applicable Margin.
