Common use of Base Rate Portion Clause in Contracts

Base Rate Portion. Interest accrued on Base Rate Portions shall be due and payable by the applicable Borrower to the applicable Agent for the ratable benefit of the applicable Lenders on the earliest of (1) the first calendar day of each month (for the immediately preceding month), computed through the last calendar day of the preceding month, (2) the occurrence of an Event of Default in consequence of which Agent or Majority Lenders elect to accelerate the maturity and payment of the Obligations in accordance with Sections 9.2 and/or 9.3 of this Agreement or (3) termination of this Agreement pursuant to Section 4 hereof.

Base Rate Portion. Interest accrued on Base Rate Portions shall be due and payable by the applicable Borrower to the applicable Agent for the ratable benefit of the applicable Lenders Lenders, in arrears, on the earliest of (1i) the first calendar day Business Day of each month (for the immediately preceding month)January, April, July and October, computed through the last calendar day of the preceding monthand including such date, and (2ii) the occurrence earlier to occur of (x) an Event of Default in consequence of which Agent or Majority Lenders elect to accelerate the maturity and payment of the Obligations in accordance with Sections 9.2 and/or 9.3 and (y) the date of this Agreement or (3) termination of this Agreement pursuant to Section 4 hereof4.