Interest on the Loans definition

Interest on the Loans is payable in arrears on the first Business Day of each month during the term of the Credit Agreement, commencing with the first Business Day of the first calendar month to begin after the date of this Loan Note. Interest will be computed on the basis of the actual number of days elapsed in the period during which interest accrues and a year of three hundred sixty (360) days. The Credit Agreement provides for the payment by Borrower of various other charges and fees, in addition to the interest charges described in the Credit Agreement, as set forth more fully in the Credit Agreement.
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Interest on the Loans and all other amounts due and owing shall be paid to Lender on the Maturity Date.
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Interest on the Loans is hereby amended in its entirety to read as follows: “Borrower shall pay interest to Lender on the outstanding principal amount of each Loan from the date made until repaid at the Interest Rate.”
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Examples of Interest on the Loans in a sentence

  • Interest on the Loans shall be paid in arrears on the first (1st) day of each month and on the maturity of such Loans, whether by acceleration or otherwise.

  • Interest on the Loans shall be computed on the basis of a 360-day year, in each case for the actual number of days elapsed in the period during which it accrues.

  • Interest on the Loans shall be computed (i) in the case of Base Rate Loans, on the basis of a 365-day or 366-day year, as the case may be, and (ii) in the case of Eurodollar Rate Loans, on the basis of a 360-day year, in each case for the actual number of days elapsed in the period during which it accrues.

  • Interest on the Loans shall be calculated on the basis of a year of 360 days and the actual days elapsed but shall not exceed the highest lawful rate.

  • Interest on the Loans shall be calculated at the Base Rate except where it is expressly provided pursuant to this Agreement that a Eurodollar Rate is to apply.

  • Interest on the Loans shall be paid monthly in arrears on the first (1st) day of each month and on the maturity of such Loans, whether by acceleration or otherwise.

  • Interest on the Loans shall be computed on the basis of a 360-day year for the actual days elapsed (including the first day but excluding the last day) occurring in the period for which payable.

  • Interest on the Loans shall be computed on the basis of a 360-day year and the actual number of days elapsed in the period during which it accrues.

  • Interest on the Loans shall be computed (i) in the case of Base Rate Loans, on the basis of a 365-day or 366-day year, as the case may be, and (ii) in the case of LIBOR Rate Loans, on the basis of a 360-day year, in each case for the actual number of days elapsed in the period during which it accrues.

  • Interest on the Loans shall be computed on the basis of a year of 360 days and paid for the actual number of days elapsed (including the first day but excluding the last day).


More Definitions of Interest on the Loans

Interest on the Loans. All advances shall bear interest on the unpaid principal amount thereof from the date made until paid in full at a fluctuating rate equal to the Base Rate plus three and three quarter percent (3.75%). The outstanding principal balance of all other Obligations shall bear interest from the date such Obligations are due until paid in full at a fluctuating rate equal to the Base Rate plus three and three quarter percent (3.75%). Interest accrued but not paid pursuant to Section 2.5 shall be treated as an Advance if not otherwise paid within five (5) days of the end of the month in which it accrues.
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Interest on the Loans is payable in arrears on the first Business Day of each month during the term of the Credit Agreement, commencing with the first Business Day of the first calendar month to begin after the date of this Loan Note. Interest will be computed on the basis of the actual number of days elapsed in the period during which interest accrues and a year of three hundred sixty (360) days. The Credit Agreement provides for the payment by Borrower of various other charges and fees, in addition to the interest charges described in the Credit Agreement, as set forth more fully in the Credit Agreement. All payments of any amount becoming due under this Loan Note shall be made in the manner provided in the Credit Agreement, in Dollars. Upon and after the occurrence of an Event of Default, unless such Event of Default is waived as provided in the Credit Agreement, this Loan Note may, at the option of Requisite Lenders and without demand, notice or legal process of any kind, be declared by 118 Agent, and in such case immediately shall become, due and payable. Upon and after the occurrence of certain Events of Default, this Loan Note shall, without any action by Lenders and without demand, notice or legal process of any kind, automatically and immediately become due and payable. Demand, presentment, protest and notice of nonpayment and protest, notice of intention to accelerate maturity, notice of acceleration of maturity and notice of dishonor are hereby waived by Borrower. Subject to the terms of the Credit Agreement, Lender may extend the time of payment of this Loan Note, postpone the enforcement hereof, grant any indulgences, release any party primarily or secondarily liable hereon or agree to any subordination of Borrower's obligations hereunder without affecting or diminishing Lender's right of recourse against Borrower, which right is hereby expressly reserved. This Loan Note has been delivered and accepted at Irvine, California. This Loan Note shall be interpreted in accordance with, and the rights and liabilities of the parties hereto shall be determined and governed by, the laws of the State of California. In no contingency or event whatsoever shall interest charged in respect of the Loans evidenced hereby, however such interest may be characterized or computed, exceed the highest rate permissible under any law that a court of competent jurisdiction shall, in a final determination, deem applicable hereto. If such a court determines that Lender has received interest h...
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Related to Interest on the Loans

  • Interest Only Loan means a Mortgage Loan which only requires payments of interest for a period of time specified in the related Mortgage Note.

  • Accrued Interest means, with respect to Single Family Shared-Loss Loans, the amount of earned and unpaid interest at the note rate specified in the applicable loan documents, limited to 90 days.

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Default Interest Period means for any overdue amount of the Withdrawn Loan Balance, each Interest Period during which such overdue amount remains unpaid; provided, however, that the first such Default Interest Period shall commence on the 31st day following the date on which such amount becomes overdue, and the final such Default Interest Period shall end on the date at which such amount is fully paid.”

  • Base Rate Advance means an Advance that bears interest as provided in Section 2.06(a)(i).

  • Interest Only Certificates A Class or Subclass of Certificates not entitled to payments of principal, and designated as such in the Series Supplement. The Interest Only Certificates will have no Certificate Principal Balance.

  • 30/360 Basis The accrual of interest calculated on the basis of a 360-day year consisting of twelve 30-day months.

  • Arrears for this purpose means, in respect of a Loan, on any date that two or more Monthly Payments have become due and remain unpaid by the relevant Borrower, and this reporting line relates to repurchases under clause 8.11 of the Mortgage Sale Agreement.

  • Prime Rate Advance means an Advance that bears interest based at the Prime Rate.

  • Facility Fees has the meaning provided in Section 2.11(a).

  • Commitment Fees has the meaning set forth in Section 2.11(a).

  • Facility Fee has the meaning specified in Section 2.09(a).

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Interest-Only Period means the period from and including the first Borrowing Date and through and including the sixteenth (16th) Payment Date following the first Borrowing Date.

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Interest Reset Period The period beginning on the applicable Reset Date and ending on the calendar day preceding the next Reset Date.

  • Eurodollar Interest Period means, for any Eurodollar-based Advance, an Interest Period of one, two or three months (or any shorter or longer periods agreed to in advance by the Borrower, Agent and the Lenders) as selected by Borrower, for such Eurodollar-based Advance pursuant to Section 2.3 or 4.4 hereof, as the case may be.

  • Base Rate Loans Loans the rate of interest applicable to which is based upon the Base Rate.

  • Simple Interest Advance means, with respect to a Simple Interest Receivable, the amount, as of the last day of a Collection Period, which is advanced with respect to such Simple Interest Receivable by the Servicer pursuant to Section 4.4(a) of the Sale and Servicing Agreement.

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.

  • Interest Rate Adjustment Date With respect to each Adjustable Rate Mortgage Loan, the date, specified in the related Mortgage Note and the related Mortgage Loan Schedule, on which the Mortgage Interest Rate is adjusted.

  • Simple Interest Loan means any Loan under which the portion of a payment allocable to interest and the portion allocable to principal is determined by allocating a fixed level payment between principal and interest, such that such payment is allocated first to the accrued and unpaid interest at the Annual Percentage Rate for such Loan on the unpaid principal balance and the remainder of such payment is allocable to principal.

  • Commitment Fee Rate has the meaning set forth in the definition of “Applicable Margin”.

  • Default Rate Interest is defined in Section 3.1(b)(ix) of this Agreement.

  • ABR Loans Loans the rate of interest applicable to which is based upon the ABR.

  • Agreed Rate means LIBOR plus 100 basis points.