Interest on the CONSTRUCTION LOAN Sample Clauses

Interest on the CONSTRUCTION LOAN. Prior to the CONSTRUCTION LOAN TERMINATION DATE, interest on the principal balance outstanding on the CONSTRUCTION LOAN shall accrue at a rate equal to the three month LIBOR RATE plus 310 hundred basis points, as more particularly set forth in the CONSTRUCTION NOTES. The interest rate on the CONSTRUCTION LOAN shall initially be set two (2) EURODOLLAR BUSINESS DAYS prior to the date of the CONSTRUCTION LOAN, and shall adjust on the 8th day of every third month thereafter. After the CONSTRUCTION LOAN TERMINATION DATE, whether by acceleration or otherwise, interest shall accrue on the CONSTRUCTION LOAN at a rate equal to the three month LIBOR RATE plus nine hundred ten (910) basis points.
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Interest on the CONSTRUCTION LOAN. Prior to maturity, interest on the principal balance outstanding on the CONSTRUCTION LOAN shall accrue at a rate equal to the one month LIBOR RATE plus 300 hundred basis points, as more particularly set forth in the CONSTRUCTION NOTE. The interest rate on the CONSTRUCTION LOAN shall initially be set two (2) EURODOLLAR BUSINESS DAYS prior to the date of the CONSTRUCTION LOAN, and shall adjust on the 8th day of each month thereafter. After maturity, whether by acceleration or otherwise, interest shall accrue on the CONSTRUCTION LOAN at a rate equal to the one month LIBOR RATE plus nine hundred (900) basis points.
Sample 1
Interest on the CONSTRUCTION LOAN. Prior to the CONSTRUCTION LOAN TERMINATION DATE, interest on the principal balance outstanding on the CONSTRUCTION LOAN shall accrue at a rate equal to the greater of (i) the one month LIBOR RATE plus 350 basis points or (ii) 4%. The interest rate on the CONSTRUCTION LOAN shall be set on the day of each advance under the CONSTRUCTION LOAN, and shall adjust on the 1st day of every month thereafter to a rate equal to the greater of (i) the one month LIBOR RATE plus 350 basis points or (ii) 4%. If the an advance on the CONSTRUCTION LOAN occurs on any day other than the first day of the month, then the one month LIBOR RATE shall be that one month LIBOR RATE in effect on the day of the advance. After the CONSTRUCTION LOAN TERMINATION DATE, whether by acceleration or otherwise, interest shall accrue on the CONSTRUCTION LOAN at a rate equal to the one month LIBOR RATE plus nine hundred fifty (950) basis points, adjusted as provided for above.
Sample 1
Interest on the CONSTRUCTION LOAN. Subject to Section 2.15, interest shall accrue on the CONSTRUCTION LOAN as set forth in the CONSTRUCTION NOTE.
Sample 1

Related to Interest on the CONSTRUCTION LOAN

  • Interest on the Loan Interest on the Loan shall accrue as set forth in the Note.

  • Interest on the Loans A. RATE OF INTEREST. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or the Adjusted Eurodollar Rate. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by Company initially at the time a Notice of Borrowing is given (or telephonic notice followed by a Notice of Borrowing) with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate.

  • Interest on the Term Loan Subject to the provisions of Section 2.8, the Term Loan shall bear interest as follows:

  • Interest on Term Loan The Credit Agreement is hereby further amended by deleting ss.4.5.1. thereto in its entirety and substituting in lieu thereof the following new ss.4.5.1.:

  • Interest on Term Loans The outstanding principal amount of each Term Loan made by each Lender shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as such Term Loan is a Base Rate Loan, the Base Rate plus the Applicable Margin in effect from time to time, and (ii) during such periods as such Term Loan is a Eurodollar Loan, the relevant Adjusted Eurodollar Rate for such Eurodollar Loan for the applicable Interest Period plus the Applicable Margin in effect from time to time.

  • Interest on Advances Each Borrower shall pay interest on the unpaid principal amount of each Advance made to such Borrower by each Bank from the date of such Advance until such principal amount shall be paid in full, at the following rates per annum:

  • Interest on Loans (a) Subject to the provisions of Section 2.08, each ABR Loan shall bear interest (computed on the basis of the actual number of days elapsed over a year of 365 days or 366 days in a leap year) at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin.

  • Interest on Overdue Payments Without limiting the rights of Executive at law or in equity, if the Company fails to make the Lump-Sum Payment or any Gross-Up Payment on a timely basis, the Company shall pay interest on the amount thereof at an annualized rate equal to the rate in effect, at the time such payment should have been made, under the 401(k) Plan for loans to participants in such plan.

  • Payment of Interest on the Credit Extensions (a) Interest Rate.

  • Interest on Arrears 5.19.1 If the Tenant shall fail to pay the Rents or any other sum due under this Lease within 14 days of the date due whether formally demanded or not (save for Rent or any other sum the amount of which was tote notified by the Landlord who has failed to do so) the Tenant shall pay to the Landlord Interest (compounded on each quarter day) on the Rents or other sum from the date when they were due to the date on which they are paid and such Interest shall be deemed to be rents due to the Landlord

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