3Interest. Subject to the provisions in Clauses 4 and 5 of this Agreement, until repayment of the Loan in full or each Advance in full, the Borrower will pay to the Lender interest on the Loan or each Advance (or on any part or parts for the time being remaining outstanding) calculated and payable in the manner set out in the Variable Terms. 4Repayment of the Loan or Advances The provisions of this Clause are subject in all respects to the provisions of Clause 5 of this Agreement. The terms concerning repayment are set out in the Variable Terms but are subject to Clause 4(iii). Except where the Commission otherwise permits in writing, no repayment or prepayment of the Loan or any Advance may be made, in whole or in part, before the relevant repayment date provided for in the Variable Terms; No repayment, early repayment or prepayment of the Loan or any Advance, in whole or in part, may be made unless immediately after such repayment or prepayment, the Borrower would have Minimum Financial Resources; and Payments of interest at a rate not exceeding the rate provided for in Clause 3 may be made without notice to or consent of the Commission, except that where: immediately after payment, the Borrower would not have Minimum Financial Resources, or before payment, the Insolvency of the Borrower commences, no such payment may be made without prior written consent of the Commission. If in respect of the Loan or any Advance, default is made for a period of: seven days or more in the payment of any principal due, or fourteen days or more in the payment of any interest due, the Lender may, at its discretion and after taking such preliminary steps or action as may be necessary, enforce payment by instituting proceedings for the Insolvency of the Borrower after giving seven business days prior written notice to the Commission of its intention to do so. Subject to Clause 4(vi), the Lender may at its discretion, subject as provided in this Agreement, institute proceedings for the Insolvency of the Borrower to enforce any obligation, condition or provision binding on the Borrower under this Agreement (other than any obligation for the payment of principal monies or interest in respect of the Loan or any Advance) PROVIDED THAT the Borrower shall not by virtue of the institution of any such proceedings for the Insolvency of the Borrower be obliged to pay any sum or sums sooner than the same would otherwise have been payable by it. The Lender may only institute proceedings for the Ins...
3Interest. 16.3.1Amounts not paid by due date Without prejudice to any other rights or remedies which one party may have in respect of the failure of the other party to pay any amount on the due date, amounts payable under this contract and not paid by the due date shall carry interest (to accrue daily and to be compounded monthly) at the Default Interest Rate from the due date until the date of actual payment (as well after judgment as before), except to the extent that late payment arises from any failure by the invoicing party to comply with Clause 16.1.2 or Clause 16.1.3(b).
3Interest. (a)Subject to subsections 2.3(c) and 2.3(d), each Loan shall bear interest on the outstanding principal amount thereof from the date when made, and all interest which is not paid when due shall bear interest, at a rate per annum equal to the LIBOR or the Base Rate, as the case may be, plus the Applicable Margin; provided however Swing Loans shall be Base Rate Loans. Each determination of an interest rate by Agent shall be conclusive and binding on each Borrower and the Lenders in the absence of demonstrable error. All computations of fees and interest (other than interest accruing on Base Rate Loans) payable under this Agreement shall be made on the basis of a 360-day year and actual days elapsed. All computations of interest accruing on Base Rate Loans payable under this Agreement shall be made on the basis of a 365-day year (366 days in the case of a leap year) and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.
3Interest. The Company will pay to the Lenders interest at the rate of [15]% per annum on the principal amount of the Loan outstanding from time to time, such interest to be calculated and compounded on a daily basis from the date of drawdown to the date of repayment. Interest will be payable on the date of repayment of the Loan (or the applicable part of the Loan being repaid [or prepaid]). If part only of the Loan is repaid [or prepaid], the oldest part of the Loan will be deemed to be repaid first.
3Interest. If either Xxxxxxxx or Cogent fails to make any payment under this Agreement when due, such amounts shall accrue interest, from the date such payment is due until paid, including accrued interest, at the rate specified in Section 3.6 or, if lower, the highest percentage allowed by law.
3Interest. (a)Subject to subsections 1.3(c) and 1.3(d), (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Margin; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the borrowing date at a rate per annum equal to the Base Rate plus the Applicable Margin. Each determination of an interest rate by the Agent shall be conclusive and binding on the Borrower and the Lenders in the absence of manifest error. All computations of fees and interest payable under this Agreement for Base Rate Loans shall be made on the basis of a year of 365/366 days. All other computations of fees and interest payable under this Agreement shall be made on the basis of a 360 day year and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof.
3Interest. (a) So long as no Event of Default has occurred and is continuing, the Company shall pay interest to Lender at a rate per annum which is equal to ten percent (10%) per annum on the entire principal amount remaining unpaid and outstanding. So long as an Event of Default has occurred and is continuing, amounts payable under this Agreement shall bear interest (compounded monthly and payable on demand in respect of overdue amounts) at a rate per annum which is 2% per annum above the rate otherwise applicable.
3Interest
