Interest on Revolving Credit Advances. Each Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance made to such Borrower owing to each Lender from the date of such Revolving Credit Advance until such principal amount shall be paid in full, at the following rates per annum:
Interest on Revolving Credit Advances. (a) Scheduled ------------------------------------- --------- Interest. The Borrower shall pay interest on the unpaid principal amount of -------- each Revolving Credit Advance owing to each Lender from the date of such Revolving Credit Advance until such principal amount shall be paid in full, at the following rates per annum:
Interest on Revolving Credit Advances. (a) Borrower shall pay interest on the Revolving Credit Loan to Agent for the account of each Lender, (i) in the case of Index Rate Loans, in arrears for the preceding calendar month, on the second Business Day of each calendar month commencing on the second Business Day of the calendar month immediately following the Closing Date, (ii) in the case of LIBOR Loans, in arrears, on the last day of each LIBOR Period therefor, (iii) on the Commitment Termination Date, and (iv) if any interest accrues or remains payable after the Commitment Termination Date, upon demand. If any interest or other payment under this Agreement becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day (except as set forth in the definition of LIBOR Period) and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension.
(b) Borrower shall be obligated to pay interest to Agent for the account of each Lender on the outstanding balance of the Revolving Credit Loan (i) with respect to Index Rate Loans at a floating rate equal to the Index Rate (as in effect from time to time) plus the Applicable Margin, and (ii) with respect to LIBOR Loans, for each LIBOR Period relating thereto, the LIBOR Rate for such Loan for such LIBOR Period plus the Applicable Margin. All computations of interest shall be made by Agent and on the basis of a three hundred and sixty (360) day year, in each case for the actual number of days occurring in the period for which such interest is payable. Each determination by Agent of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error or bad faith.
(c) Upon the occurrence and during the continuance of any Default, (i) any outstanding LIBOR Loan may be converted by the Agent (in its discretion) to an Index Rate Loan, and (ii) the Required Lenders may in their discretion, by giving notice to Borrower of their intention to do so, increase as of the date of such notice the interest rate applicable to all of the Obligations, including the Revolving Credit Loan, to the Default Rate and increase the rate for calculation of Letter of Credit Fees by two percent (2%) per annum above the rate otherwise applicable; provided, however, that upon the occurrence of an Event of Default specified in Section 8.1(f), (g) or (h), the interest rate applicable to all of the Obligations and the rate for calcu...
Interest on Revolving Credit Advances. Regulation D --------------------------------------------------- Compensation.
Interest on Revolving Credit Advances. Subject to the terms of Section 2.6 relating to LIBOR Pricing Options, the Borrowers, jointly and severally, shall pay interest on the unpaid balance of the Revolving Credit Advances from time to time outstanding at a per annum rate equal to the Applicable Base Rate for Revolving Credit Advances. Interest on the Revolving Credit Advances shall be payable (a) quarterly in arrears on the last day of each fiscal quarter, commencing January 31, 1998, for Base Rate Loans or (b) quarterly in arrears on the last day of each fiscal quarter, for LIBOR Rate Loans, and continuing until all of the Indebtedness of the Borrowers to the Revolving Credit Lenders under the Revolving Credit Notes shall have been paid in full.
Interest on Revolving Credit Advances. (a) Scheduled ----------------------------------------------------
Interest on Revolving Credit Advances. Subject to the terms of Section 2.4 relating to LIBOR Pricing Options, the Borrower shall pay interest on the unpaid balance of the Revolving Credit Advances which are Base Rate Loans from time to time outstanding at a per annum rate equal to the Base Rate. Interest on the Revolving Credit Advances which are Base Rate Loans shall be payable quarterly in arrears on the last day of each March, June, September and December, commencing June 30, 1998 and continuing until all of the Indebtedness of the Borrower to the Lenders under the Revolving Credit Notes shall have been paid in full.
Interest on Revolving Credit Advances. (a) Borrower shall pay interest to Agent, for the ratable benefit of Lenders in accordance with the Revolving Credit Advances being made by each Lender, in arrears on each applicable Interest Payment Date, at the following rates: the Index Rate plus the Applicable Revolver Index Margin per annum set forth below or, at the election of Borrower, the applicable LIBOR Rate plus the Applicable Revolver LIBOR Margin per annum set forth below, based on the aggregate Revolving Credit Advances outstanding from time to time. The Applicable Revolver Index Margin and Applicable Revolver LIBOR Margin will be 0.25% and 3.00% per annum, respectively, as of the effective date of Amendment No. 4 to this Agreement, dated January 31, 1997. Such Applicable Margins will be adjusted (up or down) prospectively on a monthly basis as determined by the ratio of Borrower's consolidated EBITDA to Performance Fixed Charges (the "Performance Ratio") for each rolling 12 month period, commencing with the first day of the first calendar month that occurs after delivery of Borrower's monthly financial statements to Lenders pursuant to Section 5.1(a) hereof for the fiscal month ending January 31, 1997. Adjustments in such Applicable Margins will be determined by reference to the following grid: If Performance Ratio is: Level of Applicable Margins: ------------------------ ---------------------------- (less than) 1.42:1.00 Level I (greater than or equal to) 1.42:1.00 but (less than) 1.52:1.00 Level II (greater than or equal to) 1.52:1.00 Level III Applicable Margins ------------------ Level I Level II Level III ------- -------- --------- Applicable Revolver 0.25% 0.00% 0.00% Index Margin
Interest on Revolving Credit Advances. Interest on each Revolving Credit Advance shall be due and payable in arrears on each Interest Payment Date applicable thereto, beginning on October 31, 2011, and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any bankruptcy, insolvency or other similar law.
Interest on Revolving Credit Advances. Subject to the terms of Section 2.6 relating to LIBOR Pricing Options, the Borrowers, jointly and severally, shall pay interest on the unpaid balance of the Revolving Credit Advances from time to time outstanding at a per annum rate equal to the Applicable Base Rate for Revolving Credit Advances. Interest on the Revolving Credit Advances shall be payable quarterly in arrears on the first day of the month following the end of each fiscal quarter, commencing November 1, 1999, and continuing until all of the Indebtedness of the Borrowers to the Revolving Credit Lenders under the Revolving Credit Notes shall have been paid in full.
