Common use of Effective Rate Clause in Contracts

Effective Rate. Provided no Default exists under this Agreement, the "Effective Rate" upon which interest shall be calculated for the Loan shall, from and after the Effective Date of this Agreement, be one or more of the following: (i) for those portions of the principal balance of the Notes which are not Fixed Rate Portions, the Effective Rate shall be the Variable Rate. (ii) for those portions of the principal balance of the Notes which are Fixed Rate Portions, the Effective Rate for the Fixed Rate Period thereof shall be the Fixed Rate selected by Borrower and set in accordance with the provisions hereof, provided, however, if any of the transactions necessary for the calculation of interest at any Fixed Rate requested or selected by Borrower should be or become prohibited or unavailable to Administrative Agent, or, if in Administrative Agent 's good faith judgment, it is not possible or practical for Administrative Agent to set a Fixed Rate for a Fixed Rate Portion and Fixed Rate Period as requested or selected by Borrower, the Effective Rate for such Fixed Rate Portion shall remain at or revert to the Variable Rate. Notwithstanding the foregoing to the contrary, during such time as a Default exists under this Agreement; or from and after the date on which all sums owing under the Notes become due and payable by acceleration or otherwise; or from and after the date on which the Collateral or any portion thereof or interest therein, is sold, transferred, mortgaged, assigned, or encumbered, whether voluntarily or involuntarily, or by operation of law or otherwise, without Administrative Agent's prior written consent (whether or not the sums owing under the Notes become due and payable by acceleration); or from and after the Maturity Date, then at the option of Requisite Lenders in each case, the interest rate applicable to the then outstanding principal balance of the Loan shall be the Alternate Rate.

Effective Rate. Provided no Default exists under this Agreement, the The "Effective Rate" upon which interest shall be calculated for the Loan shall, from and after the Effective Date of this Agreement, Note shall be one or more of the following: 2.1 Provided no Default exists under the Loan Agreement or any of the Loan Documents described therein (ithis Note is one of the Loan Documents): (a) for those portions of the principal balance of the Notes this Note which are not Fixed Rate Portions, the Effective Rate shall be the Variable Rate. -------------------------------------------------------------------------------- The 520 Group Page 4 LOAN NO. 100441 ▇▇▇▇▇▇▇▇.▇▇ M (07/01) 3641-1-7-ALEXANJA EXHIBIT A -------------------------------------------------------------------------------- (iib) for those portions of the principal balance of the Notes this Note which are Fixed Rate Portions, the Effective Rate for the Fixed Rate Period thereof shall be the Fixed Rate selected by Borrower and set in accordance with the provisions hereof, provided, however, if any of the transactions necessary for the calculation of interest at any Fixed Rate requested or selected by Borrower should be or become prohibited or unavailable to Administrative AgentLender, or, if in Administrative Agent Lender's good faith judgment, it is not possible or practical for Administrative Agent Lender to set a Fixed Rate for a Fixed Rate Portion and Fixed Rate Period as requested or selected by Borrower, the Effective Rate for such Fixed Rate Portion shall remain at or revert to the Variable Rate. Notwithstanding the foregoing to the contrary, during . 2.2 During such time as a Default exists under this Agreementthe Loan Agreement or any of the Loan Documents; or from and after the date on which all sums owing under the Notes this Note become due and payable by acceleration or otherwise; or from and after the date on which the Collateral property encumbered by the Securities Pledge Agreement or any portion thereof or interest therein, is sold, transferred, mortgaged, assigned, or encumbered, whether voluntarily or involuntarily, or by operation of law or otherwise, without Administrative Agent▇▇▇▇▇▇'s prior written consent (whether or not the sums owing under the Notes this Note become due and payable by acceleration); or from and after the Maturity Date, then at the option of Requisite Lenders in each caseLender, the interest rate applicable to the then outstanding principal balance of the Loan this Note shall be the Alternate Rate.

Effective Rate. Provided no Default exists under this Agreement, the The "Effective Rate" upon which interest shall be calculated for the Loan shall, from and after the Effective Date of PURPOSES OF this Agreement, Note shall be one or more of the following: 2.1 Provided no Default, breach or failure of condition exists under the Loan Agreement or any of the Loan Documents described therein (ithis Note is one of the Loan Documents): (a) for those portions of the principal balance of the Notes this Note which are not Fixed Rate Portions, the Effective Rate shall be the Variable Rate.lesser of the Prime Rate or the Maximum Lawful Rate (as defined in the Note); and (iib) for those portions of the principal balance of the Notes this Note which are Fixed Rate Portions, the Effective Rate for the Fixed Rate Period thereof shall be the lesser of the Fixed Rate selected by Borrower and set in accordance with the provisions hereofhereof or the Maximum Lawful Rate (as defined in the Note), providedPROVIDED, howeverHOWEVER, if any of the transactions necessary for the calculation of interest at any Fixed Rate requested or selected by Borrower should be or become prohibited or unavailable to Administrative AgentLender, or, if in Administrative Agent Lender's good faith reasonable judgment, it is not possible or practical for Administrative Agent Lender to set a Fixed Rate for a Fixed Rate Portion and Fixed Rate Period as requested or selected by Borrower, the Effective Rate for such Fixed Rate Portion shall remain at or revert to the Variable Prime Rate. Notwithstanding the foregoing to the contrary, during . 2.2 During such time as a Default Default, breach or failure of condition exists under this Agreement; the Loan Agreement or any of the Loan Documents or from and after the date on which all sums owing under the Notes this Note become due and payable by acceleration or otherwise; otherwise or from and after the date on which the Collateral property encumbered by the Deed of Trust or any portion thereof or interest therein, is sold, transferred, mortgaged, assigned, assigned or encumbered, whether voluntarily or involuntarily, or by operation of law or otherwise, without Administrative Agent▇▇▇▇▇▇'s prior written consent (whether or not the sums owing under the Notes this Note become due and payable by acceleration); ) or from and after the Maturity Date, then at the option of Requisite Lenders in each caseLender, the interest rate applicable to the then then-outstanding principal balance of the Loan this Note shall be the Alternate lesser of the Default Rate or the Maximum Lawful Rate (as defined in the Note). 2.3 Notwithstanding anything herein to the contrary, if at any time: (a) the Effective Rate, together with (b) all Charges, if any, computed over the full term of this Note, exceed the Maximum Lawful Rate, the rate of interest payable hereunder, together with all Charges, shall be limited to the Maximum Lawful Rate; PROVIDED, HOWEVER, that any subsequent reduction in the Effective Rate shall not cause a reduction of the rate of interest payable hereunder below the Maximum Lawful Rate until the total amount of interest earned hereunder, together with all Charges, equals the total amount of interest which would have accrued at the Effective Rate if such interest rate had at all times been in effect.

Effective Rate. Provided no Default exists under this Agreement, the "The “Effective Rate" ” upon which interest shall be calculated for the Loan shall, from and after the Effective Date of this Agreement, be one or more of the following: (i) Provided no Default exists under this Agreement: (A) for those portions of the principal balance of the Notes which are not Fixed Rate Portions, the Effective Rate shall be the Variable Rate. (iiB) for those portions of the principal balance of the Notes which are Fixed Rate Portions, the Effective Rate for the Fixed Rate Period thereof shall be the Fixed Rate selected by Borrower and set in accordance with the provisions hereof, provided, however, if any of the transactions necessary for the calculation of interest at any Fixed Rate requested or selected by Borrower should be or become prohibited or unavailable to Administrative Agent, or, if in Administrative Agent 's Agent’s good faith judgment, it is not possible or practical for Administrative Agent to set a Fixed Rate for a Fixed Rate Portion and Fixed Rate Period as requested or selected by Borrower, Administrative Agent shall so notify Borrower and Lenders and the Effective Rate for such Fixed Rate Portion shall remain at or revert to the Variable Rate. Notwithstanding the foregoing to the contrary, during . (ii) During such time as a Default exists under this Agreement; or from and after the date on which all sums owing under the Notes become due and payable by acceleration or otherwise; or from and after the date on which the Collateral or any portion thereof or interest therein, is sold, transferred, mortgaged, assigned, or encumbered, whether voluntarily or involuntarily, or by operation of law or otherwise, without Administrative Agent's ’s prior written consent (whether or not the sums owing under the Notes become due and payable by acceleration); or from and after the Maturity Date, then at (unless waived by the option of Requisite Lenders Lenders) in each case, the interest rate applicable to the then outstanding principal balance of the Loan shall be the Alternate Rate.

Effective Rate. Provided no Default exists under this Agreement, the The "Effective Rate" upon which interest shall be calculated for the Loan shall, from and after the Effective Date of this Agreement, be one or more of the following: (i) for Provided no Default exists under this Agreement: (A) For those portions of the principal balance of the Notes which are not Fixed Rate Portions, the Effective Rate shall be the Variable Rate. (iiB) for For those portions of the principal balance of the Notes which are Fixed Rate Portions, the Effective Rate for the Fixed Rate Period thereof shall be the Fixed Rate accepted by Borrowers for the Fixed Rate Period selected by Borrower Borrowers with respect to each Fixed Rate Portion and set in accordance with the provisions hereof. (C) With respect to any portion of the Loan then subject to a Swap Agreement, providedBorrowers may not select a rate of interest, howeverincluding, if without limitation, a Fixed Rate for a Fixed Rate Period, that is inconsistent with the terms of such Swap Agreement. (D) If any of the transactions necessary for the calculation of interest at any Fixed Rate requested or selected by Borrower Borrowers should be or become prohibited or unavailable to Administrative Agent, or, if in Administrative Agent Agent's good faith judgment, judgment it is not possible or practical for Administrative Agent to set a Fixed Rate for a Fixed Rate Portion and Fixed Rate Period as requested or selected by BorrowerBorrowers, the Effective Rate for the principal balance of the Notes subject to such Fixed Rate Portion unavailable interest rate shall remain at or revert to the Variable Rate. Notwithstanding the foregoing to the contrary, during . (ii) During such time as a Default exists under this Agreement; or from and after the date on which all sums owing under the Notes become applicable Note becomes due and payable by acceleration or otherwise; or from and after the date on which the Collateral or any portion thereof or interest therein, is sold, transferred, mortgaged, assigned, or encumbered, whether voluntarily or involuntarily, or by operation of law or otherwise, without Administrative Agent's ’s prior written consent (except as otherwise permitted herein or in any of the Loan Documents) (whether or not the sums owing under the Notes become applicable Note becomes due and payable by acceleration); or from and after the Maturity Date, then at the option of Requisite Lenders in each case, the interest rate applicable to the then outstanding principal balance of the Loan shall be the Alternate Rate.

Effective Rate. Provided no Default exists under this Agreement, the "The “Effective Rate" ” upon which interest shall be calculated for the Loan Advances shall, from and after the Effective Date of this Agreement, be one or more of the following: (i) Provided no Default has occurred that is continuing: (A) for those portions of the principal balance of the Notes which Revolving Advances that are not Fixed Rate PortionsAdvances, the Effective Rate shall be the Variable Rate. (iiB) for those portions of the principal balance of the Notes which Revolving Advances that are Fixed Rate PortionsAdvances, the Effective Rate for the Fixed Rate Period thereof shall be the Fixed Rate selected by Borrower and set in accordance with the provisions hereof, provided, however, if any of the transactions necessary for the calculation of interest at any Fixed Rate requested or selected by Borrower should be or become prohibited or unavailable to Administrative Agent, or, if in Administrative Agent 's Agent’s good faith judgment, it is not possible or practical for Administrative Agent to set a Fixed Rate for a Fixed Rate Portion Advance and Fixed Rate Period as requested or selected by Borrower, Administrative Agent shall so notify Borrower and Lenders and the Effective Rate for such Fixed Rate Portion Advance shall remain at or revert to the Variable Rate. Notwithstanding . (C) for Swingline Loans, the foregoing Effective Rate shall be the Base Rate (or such other rate as may be agreed to the contrary, during by Borrower and Swingline Lender). (ii) At such time as a Default exists under this Agreementhas occurred and is continuing; or from and after the date on which all sums owing under the Notes become due and payable by acceleration or otherwise; or from and after the date on which the Collateral or any portion thereof or interest therein, is sold, transferred, mortgaged, assigned, or encumbered, whether voluntarily or involuntarily, or by operation of law or otherwise, without Administrative Agent's prior written consent (whether or not the sums owing under the Notes become due and payable by acceleration); or from and after the Maturity Date; then, then at the option of Requisite Lenders in each case, at Requisite Lenders’ discretion, the interest rate applicable to the then outstanding principal balance of the Loan Loans shall be the Alternate Rate.

Effective Rate. Provided no Default exists under this Agreement, the "The “Effective Rate" ” upon which interest shall be calculated for the Loan shall, from and after the Effective Date of this Agreement, be one or more of the following: (i) Provided no Default exists under this Agreement: (A) for those portions that portion of the principal balance of the Notes which are Borrower has not elected to be a Fixed Rate PortionsPortion, the Effective Rate shall be calculated assuming Borrower has elected a Fixed Rate Period of one (1) month therefor, subject to the Variable Rateprovision in Section 2.7(e)(i)(B) below. (iiB) for those portions of the principal balance of the Notes which are Fixed Rate Portions, the Effective Rate for the Fixed Rate Period thereof shall be the Fixed Rate selected by Borrower and set in accordance with the provisions hereof, provided, however, if any of the transactions necessary for the calculation of interest at any Fixed Rate requested or selected by Borrower should be or become prohibited or unavailable to Administrative Agent, or, if in Administrative Agent 's ‘s good faith judgment, it is not possible or practical for Administrative Agent to set a Fixed Rate for a Fixed Rate Portion and Fixed Rate Period as requested or selected by Borrower, the Effective Rate for such Fixed Rate Portion shall remain at or revert to the Variable Rate. Notwithstanding the foregoing to the contrary, during . (ii) During such time as a Default exists under this Agreement; or from and after the date on which all sums owing under the Notes become due and payable by acceleration or otherwise; or from and after the date on which the Collateral or any portion thereof or interest therein, is sold, transferred, mortgaged, assigned, or encumbered, whether voluntarily or involuntarily, or by operation of law or otherwise, without Administrative Agent's ’s prior written consent (whether or not the sums owing under the Notes become due and payable by acceleration); or from and after the Maturity Date, then at the option of Requisite Lenders in each case, the interest rate applicable to the then outstanding principal balance of the Loan shall be the Alternate Rate.

Effective Rate. Provided no Default exists under this Agreement, the "The “Effective Rate" ” upon which interest shall be calculated for the Loan shall, from and after the Effective Date of this Agreementdated hereof, be one or more of the following: 2.2.5.1 Provided no Event of Default exists under this Agreement: (ia) for For those portions of the outstanding principal balance of the Notes Loan which are not Fixed Rate Portions, the Effective Rate shall be the Variable Rate. (iib) for For those portions of the outstanding principal balance of the Notes Loan which are Fixed Rate Portions, the Effective Rate for the Fixed Rate Period thereof shall be the Fixed Rate selected by Borrower and set in accordance with the provisions hereof, provided, however, if any of the transactions necessary for the calculation of interest at any Fixed Rate requested or selected by Borrower should be or become prohibited or unavailable to Administrative Agent, or, if in Administrative Agent 's ‘s good faith judgment, it is not possible or practical for Administrative Agent to set a Fixed Rate for a Fixed Rate Portion and Fixed Rate Period as requested or selected by Borrower, the Effective Rate for such Fixed Rate Portion shall remain at or revert to the Variable Rate. Notwithstanding . (c) If any of the foregoing transactions necessary for the calculation of interest at the Fixed Rate should be or become prohibited or unavailable to Agent, or, if in Agent’s good faith judgment, it is not possible or practical for Agent to set a Fixed Rate for a Fixed Rate Portion and Fixed Rate Period, the Effective Rate for such Fixed Rate Portion shall remain at or revert to the contrary, during such time as a Default exists Variable Rate. 2.2.5.2 Any interest payment under this Agreement; or from Agreement and the other Loan Documents that is not paid within thirty (30) days after the date on which all sums owing under the Notes become due and payable by acceleration or otherwise; or from and after the date on which the Collateral such amount is due, or any portion thereof principal or interest thereinother amount payment under this Agreement that is not paid when due, is sold, transferred, mortgaged, assigned, or encumbered, whether voluntarily or involuntarily, or by operation of law or otherwise, without Administrative Agent's prior written consent (whether or not the sums owing under the Notes become due and payable by acceleration); or from and after the Maturity Date, then at the option of Requisite Lenders shall in each case, the case thereafter bear interest at a rate applicable per annum equal to the then outstanding principal balance of the Loan shall be the Alternate Rate, without notice or demand of any kind. Such interest at the Alternate Rate shall be in addition to, and not in lieu of, the late charge provided for in Section 2.2.3.

Effective Rate. Provided no Default exists under this Agreement, the "The “Effective Rate" ” upon which interest shall be calculated for the Loan shall, from and after the Effective Date of this Agreement, be one or more of the following: (i) Provided no Default exists under this Agreement: (A) for those portions of the principal balance of the Notes which are not Fixed Rate Portions, the Effective Rate shall be the Variable Rate. (iiB) for those portions of the principal balance of the Notes which are Fixed Rate Portions, the Effective Rate for the Fixed Rate Period thereof shall be the Fixed Rate selected by Borrower and set in accordance with the provisions hereof, provided, however, if any of the transactions necessary for the calculation of interest at any Fixed Rate requested or selected by Borrower should be or become prohibited or unavailable to Administrative Agent, or, if in Administrative Agent 's ‘s good faith judgment, it is not possible or practical for Administrative Agent to set a Fixed Rate for a Fixed Rate Portion and Fixed Rate Period as requested or selected by Borrower, the Effective Rate for such Fixed Rate Portion shall remain at or revert to the Variable Rate. Notwithstanding the foregoing to the contrary, during . (ii) During such time as a Default exists under this Agreement; or from and after the date on which all sums owing under the Notes become due and payable by acceleration or otherwise; or from and after the date on which the Collateral or any portion thereof or interest therein, is sold, transferred, mortgaged, assigned, or encumberedencumbered (except for Permitted Liens), whether voluntarily or involuntarily, or by operation of law or otherwise, without Administrative Agent's ’s prior written consent (whether or not the sums owing under the Notes become due and payable by acceleration); or from and after the Maturity Date, then at the option of Requisite Lenders in each case, the interest rate applicable to the then outstanding principal balance of the Loan shall be the Alternate Rate.