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Common use of The Term Loans Clause in Contracts

The Term Loans. Interest shall accrue and be payable on the Term Loans (including the Incremental Term Loans) as follows: (i) Subject to paragraph (iii) below, each LIBOR Advance shall bear interest on the unpaid principal amount thereof during the Interest Period applicable thereto at a rate per annum equal to the sum of (A) the Adjusted LIBO Rate for such Interest Period plus (B) the Applicable Margin. (ii) Subject to paragraph (iii) below, each Prime Rate Advance shall bear interest on the unpaid principal amount thereof at a varying rate per annum equal to the sum of (A) the Prime Rate plus (B) the Applicable Margin. (iii) Upon the occurrence and during the continuance of any Event of Default, each Advance shall, at the option of the Agent, bear interest until paid in full at a rate per annum equal to the sum of the rate applicable to such Advance plus 2.00%. (iv) Interest shall be payable (A) with respect to any LIBOR Advance, on the last day of the Interest Period applicable thereto and, if such Interest Period is longer than three months, on each day that would have been the last day of the Interest Period for such Advance had successive Interest Periods of three months duration been applicable to such Advance; (B) with respect to any Prime Rate Advance, on the last day of each month; (C) with respect to all Advances, upon any permitted prepayment (on the amount prepaid); and (D) with respect to all Advances that are Term Loans, on the Term Loan Termination Date; provided, however, that interest under Section 2.5(b)(iii) shall be payable on demand.

Appears in 2 contracts

Samples: Credit Agreement (Dolan Media CO), Credit Agreement (Dolan Media CO)

The Term Loans. Interest shall accrue and be payable on the Term Loans (including the Incremental Term Loans) as follows: (ia) Subject to paragraph (iii) below, each LIBOR Eurodollar Rate Advance shall bear interest on the unpaid principal amount thereof during the Interest Period applicable thereto at a rate per annum equal to the sum of (A) the Adjusted LIBO Eurodollar Rate for such Interest Period plus (B) the Applicable Margin. (iib) Subject to paragraph (iii) below, each Prime Rate Advance shall bear interest on the unpaid principal amount thereof at a varying rate per annum equal to the sum of (A) the Prime Rate plus (B) the Applicable Margin. (iiic) Upon the occurrence and during the continuance of any Event of Default, each Advance shall, at the option of the Agent, bear interest until paid in full at a rate per annum equal to the sum of the rate applicable to such Advance plus 2.00%. (ivd) Interest shall be payable (A) with respect to any LIBOR Eurodollar Rate Advance, on the last day of the Interest Period applicable thereto and, if such Interest Period is longer than three months, on each day that would have been the last day of the Interest Period for such Advance had successive Interest Periods of three months duration been applicable to such Advance; (B) with respect to any Prime Rate Advance, on the last day of each month; (C) with respect to all Advances, upon any permitted prepayment (on the amount prepaid); and (D) with respect to all Advances that are Term Loans, on the Term Loan Termination Date; provided, however, that interest under Section 2.5(b)(iii) shall be payable on demand.

Appears in 1 contract

Samples: Credit Agreement (Dolan Media CO)

The Term Loans. Interest shall accrue and be payable on the Term Loans (including the Incremental Term Loans) as follows: (i) i. Subject to paragraph (iii) below, each LIBOR Rate Advance shall bear interest on the unpaid principal amount thereof during the Interest Period applicable thereto at a rate per annum equal to the sum of (A) the Adjusted LIBO LIBOR Rate for such Interest Period Period, plus (B) the Applicable Term Loan Margin. (ii) . Subject to paragraph (iii) below, each Prime Rate Advance shall bear interest on the unpaid principal amount thereof at a varying rate per annum equal to the sum of (A) the Prime Rate Rate, plus (B) the Applicable Term Loan Margin. (iii) . Upon the occurrence and during the continuance of any Event of Default, each Advance shall, at the option of the AgentMajority Banks, bear interest until paid in full (A) during the balance of any Interest Period applicable to such Advance, at a rate per annum equal to the sum of the rate applicable to such Advance during such Interest Period plus 2.002.0%, and (B) otherwise, at a rate per annum equal to the sum of (1) the Prime Rate, plus (2) the Applicable Term Loan Margin for Prime Rate Advances, plus (3) 2.0%. (iv) . Interest shall be payable (A) with respect to each LIBOR Rate Advance having an Interest Period of three months or less, on the last day of the Interest Period applicable thereto; (B) with respect to any LIBOR AdvanceRate Advance having an Interest Period greater than three months, on the last day of the Interest Period applicable thereto and, if such Interest Period is longer than three months, and on each day that would have been the last day of the Interest Period for such Advance had successive Interest Periods of three months duration been applicable to such Advance; (BC) with respect to any Prime Rate Advance, on the last day of each month; (CD) with respect to all Advances, upon any permitted prepayment (on the amount prepaid); and (DE) with respect to all Advances that are Term LoansAdvances, on the Term Loan Termination Date; provided, however, provided that interest under paragraph (b)(iii) of this Section 2.5(b)(iii) shall be payable on demand.

Appears in 1 contract

Samples: Credit Agreement (Lecg Corp)

The Term Loans. Interest shall accrue and be payable on the Term Loans (including the Incremental Term Loans) as follows: (i) Subject to paragraph (vii) below, each Tranche A1 Advance shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the Tranche A1 Rate. (ii) Subject to paragraph (vii) below, each Tranche A2 Advance shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the Tranche A2 Rate. (iii) Subject to paragraph (vii) below, each Tranche A3 Advance shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the Tranche A3 Rate. (iv) Subject to paragraph (vii) below, each LIBOR Rate Advance in respect of the Tranche B Term Loans shall bear interest on the unpaid principal amount thereof during the Interest Period applicable thereto at a rate per annum equal to the sum of (A) the Adjusted LIBO LIBOR Rate for such Interest Period Period, plus (B) the Applicable Margin; provided that, any LIBOR Rate Advance made or continued during the two (2) month period ending on the applicable Tranche B Maturity Date shall bear interest at the LIBOR Index Rate. (iiv) Subject to paragraph (iiivii) below, each Prime Quoted Rate Advance in respect of the Tranche B Term Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the Quoted Rate. (vi) Subject to paragraph (vii) below, each Base Rate Advance in respect of the Tranche B Term Loans shall bear interest on the unpaid principal amount thereof at a varying rate per annum equal to the sum of (A) the Prime Rate Base Rate, plus (B) the Applicable Margin. (iiivii) Upon the occurrence and during the continuance of any Event of Default, each Tranche A Advance shall, at upon thirty (30) days notice to the option Borrowers from the Tranche A Term Lenders, and each Advance in respect of the AgentTranche B Term Loans shall, upon thirty (30) days written notice to the Borrowers from the Tranche B Term Lenders, bear interest until paid in full or until such Event of Default is cured at a rate per annum equal to the sum of the rate applicable to such Advance plus 2.00%Default Rate. (ivviii) Interest shall be payable (A) with respect to any each LIBOR Rate Advance, on the last day of the Interest Period applicable thereto (and, if such in the case of any LIBOR Rate Advance an Interest Period is longer greater than three months, on each day that would have been the last three month anniversary of the first day of such Interest Period); provided that, with respect to each LIBOR Rate Advance made or continued during the Interest Period for such Advance had successive Interest Periods two (2) month period ending on the applicable Tranche B Maturity Date, interest shall be payable, in arrears, on the twentieth (20th) day of three months duration been applicable to such Advanceeach month; (B) with respect to any Prime Base Rate Advance, in arrears, on the last day twentieth (20th) Business Day of each month; (C) with respect to all Advances, upon any permitted prepayment (on the amount prepaid); and (D) with respect to all Advances that are Term LoansAdvances, on the Term Loan Termination Date; provided, however, provided that interest under paragraph (b)(vii) of this Section 2.5(b)(iii) shall be payable on demand.

Appears in 1 contract

Samples: Credit Agreement (Golden Oval Eggs LLC)