Common use of Alternate Base Rate Clause in Contracts

Alternate Base Rate. Except to the extent that the Company shall elect to pay interest on any Advance for any Interest Period pursuant to paragraph (iii) below, the Company shall pay interest on each Advance from the date thereof until the date such Advance is due, at an interest rate per annum equal to the Alternate Base Rate in effect from time to time. The Company shall pay interest on each Advance bearing interest in accordance with this subsection monthly in arrears on the first Business Day of each calendar month, on the date of Conversion of any ABR Advance to a Eurodollar Rate Advance, including any such Advance made pursuant to subsection (b) above, and on the Stated Expiration Date or the earlier date for repayment of such Advance.