Facility C Loan Interest and Principal Payments. (i) The Borrowers shall pay all interest at the applicable Facility C Interest Rate selected pursuant to Section 2.3(e) monthly in arrears on each Facility C Loan beginning on the last Business Day of the first full calendar month after such Facility C Loan was made hereunder and continuing on the last Business Day of each calendar month thereafter until all amounts due thereunder have been paid in full. Borrowers may elect the 30 day Fixed LIBOR Rate effective the first Business Day of a month and may then draw upon and pay down Facility C Loans at that rate during the month without premium or penalty. Accrued and unpaid interest on the unpaid principal balance of all Facility C Loans outstanding from time to time which are LIBOR Loans shall be payable on the last Business Day of each LIBOR Interest Period (provided, however, that for LIBOR Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such LIBOR Interest Period), commencing on the first such date to occur after the date hereof, on the date of any principal repayment of a LIBOR Loan and on the Facility C Maturity Date.
Facility C Loan Interest and Principal Payments. (i) The Borrowers shall pay interest on the unpaid principal balance of Facility C Loans at the applicable Facility C Interest Rate selected pursuant to Section 2.3(e) as follows: (A) for Facility C Loans that bear interest at either the Prime Rate or the Facility C Fixed Rate, monthly in arrears beginning on the last Business Day of the first full calendar month after such Facility C Loan was made and continuing on the last Business Day of each calendar month thereafter until all amounts due thereunder have been paid in full and (B) for Facility C Loans that bear interest at the LIBOR Rate, on the last Business Day of each LIBOR Interest Period (provided, however, that for LIBOR Interest Periods of six months, accrued interest shall also be paid on the date which is three months from the first day of such LIBOR Interest Period), commencing on the first such date to occur after such Facility C Loan was made and continuing on each such date to occur thereafter, on the date of any principal repayment of a LIBOR Loan and on the Facility C Maturity Date.
Facility C Loan Interest and Principal Payments. The outstanding ------------------------------------------------ principal balance of the Facility C Loan shall be repaid in equal monthly installments of principal each in the amount of Sixty Four Thousand Two Hundred Twenty Five and 00/100 Dollars ($64,225.00) plus interest at the ---- Facility C Interest Rate, beginning on the last Business Day of July 2009, and continuing on the last Business Day of each month thereafter, with a final payment of all outstanding principal and accrued interest due on the Facility C Maturity Date. Principal amounts repaid on the Facility C Term Note may not be borrowed again. Any amount of principal or interest on the Facility C Loan which is not paid when due, whether at stated maturity, by acceleration or otherwise, shall bear interest payable on demand at the Default Rate.
