Establishment of Portions. For purposes of determining interest, Borrowers may designate and subdivide the outstanding balance under the Term Loan Facility (including any other amounts advanced to or on behalf of Borrowers under the Loan Documents) into a maximum of two (2) Portions accruing interest at an Adjusted LIBO Rate and one (1) Portion accruing interest at the Prime Rate. No Portion accruing interest at an Adjusted LIBO Rate may be less than $100,000, and all Portions under the Term Loan Facility collectively must total the outstanding balance under the Term Loan Facility.
Appears in 2 contracts
Samples: Credit Facility Agreement (MCG Finance Corp), Credit Facility Agreement (Bizness Online Com)
Establishment of Portions. For purposes of determining interest, Borrowers may designate and subdivide the outstanding balance under the Term Loan Facility (including any other amounts advanced to or on behalf of Borrowers under the Loan Documents) into a maximum of two (2) Portions accruing interest at an Adjusted LIBO Rate and one (1) Portion accruing interest at the Prime Rate. No Portion accruing interest at based upon an Adjusted LIBO Rate may be less than $100,000, and all Portions under the Term Loan Facility collectively must total the outstanding balance under the Term Loan Facility.
Appears in 2 contracts
Samples: Credit Facility Agreement (NBG Radio Network Inc), Credit Facility Agreement (MCG Finance Corp)
Establishment of Portions. For purposes of determining interest, Borrowers may designate and subdivide the outstanding balance under the Term Loan Facility (including any other amounts advanced to or on behalf of Borrowers under the Loan Documents) into a maximum of two three (23) Portions accruing interest at an Adjusted LIBO Rate and one (1) Portion accruing interest at the Prime RatePortions. No Portion accruing interest at an Adjusted LIBO Rate may be less than $100,000250,000, and all Portions under the Term Loan Facility collectively must total the outstanding balance under the Term Loan Facility.
Appears in 1 contract
Samples: Credit Facility Agreement (Talk Com)