Common use of Base Rate Portion Clause in Contracts

Base Rate Portion. The Base Rate Portion shall bear interest at the rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin, provided that if the Base Rate Portion or any part thereof is not paid when due (whether by lapse of time, acceleration, or otherwise), or at the election of the Bank during the existence of any other Event of Default, such Portion shall bear interest, whether before or after judgment until payment in full thereof, at the rate per annum determined by adding 2.0% to the interest rate which would otherwise be applicable thereto from time to time. Interest on the Base Rate Portion shall be payable monthly in arrears on the last day of each month in each year (commencing on the first such date occurring after the date hereof) and at maturity of the Note, and interest after maturity (whether by lapse of time, acceleration, or otherwise) shall be due and payable upon demand. Any change in the interest rate on the Base Rate Portion resulting from a change in the Base Rate shall be effective on the date of the relevant change in the Base Rate.

Base Rate Portion. The Base Rate Portion shall bear interest at the rate per annum equal determined by adding the Applicable Margin to the Base Rate as in effect from time to time plus the Applicable Margintime, provided that upon the occurrence and during the continuation of any Payment Default (but if the Base Rate Portion or any part thereof is not paid when due (whether by lapse of time, prior to acceleration, or otherwise), or at upon the election of the Bank during the existence of any other Event of DefaultBank), such Portion shall bear interestinterest (which the Borrowers jointly and severally promise to pay), whether before or after judgment until payment in full thereof, at the rate per annum determined by adding 2.02.00% to the interest rate which would otherwise be applicable thereto from time to time. Interest on the Base Rate Portion shall be payable monthly quarterly in arrears on the last day of each month March, June, September and December in each year (commencing on the first such date occurring after the date hereof) and at maturity of the Note, and interest after maturity (whether by lapse of time, acceleration, or otherwise) shall be due and payable upon demand. Any change in the interest rate on the Base Rate Portion resulting from a change in the Base Rate shall be effective on the date of the relevant change in the Base Rate.

Base Rate Portion. The Each Base Rate Portion shall bear interest at the rate per annum equal determined by adding the Applicable Margin to the Base Rate as in effect from time to time plus the Applicable Margintime, provided that if the Base Rate Portion or any part thereof is not paid when due (whether by lapse of time, acceleration, or otherwise), or at the election of the Bank upon notice to the Borrower during the existence of any other Event of Default, such Portion shall bear interest, whether before or after judgment until payment in full thereof, at the rate per annum determined by adding 2.02% to the interest rate which would otherwise be applicable thereto from time to time. Interest on the each Base Rate Portion shall be payable monthly in arrears on the last first day of each month in each year (commencing on the first such date occurring after the date hereof) and at maturity of the Note, and interest after maturity (whether by lapse of time, acceleration, or otherwise) shall be due and payable upon demand. Any change in the interest rate on the any Base Rate Portion resulting from a change in the Base Rate shall be effective on the date of the relevant change in the Base Rate.