Common use of Interest on the Loans Clause in Contracts

Interest on the Loans. (a) Borrower shall be obligated to pay interest to Agent on behalf of Lenders on the outstanding principal balance of the Loans owing to Lenders from the Closing Date until the Revolving Credit Loan is paid in full at either (a) a floating rate equal to the Prime Rate Option, or (b) a fixed rate for interest periods of any LIBOR Option Period equal to its respective LIBOR Option.

Interest on the Loans. (a) Borrower shall be obligated to pay interest to Agent on behalf of Lenders on the outstanding principal balance of the Loans owing to Lenders from the Closing Date until the Revolving Credit Loan is paid in full at either (ai) a floating rate equal to the Prime Rate Option, or (bii) a fixed rate for interest periods of any LIBOR Option Period equal to its respective LIBOR Option.