Common use of Interest on Base Rate Loans Clause in Contracts

Interest on Base Rate Loans. Subject to the provisions of Section 4.6, each Base Rate Loan shall bear interest on its unpaid principal amount at a rate per annum equal to the Base Rate plus the Applicable Margin, as the same may be adjusted pursuant to the provisions of the definition of Applicable Margin. Such interest shall be payable quarterly as of the end of each Fiscal Quarter, at the date of conversion of such Base Rate Loan (or a portion thereof) to a Eurocurrency Loan and at maturity of such Base Rate Loan, and after maturity of such Base Rate Loan (whether by acceleration or otherwise), upon demand. In the event of any change in said Base Rate, the rate hereunder shall change, effective as of the day the Base Rate changes. Each determination by the Administrative Agent of any interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error.

Interest on Base Rate Loans. Subject to the provisions of Section 4.6, each Base Rate Loan shall bear interest on its unpaid principal amount at a rate per annum equal to the Base Rate plus the Applicable Margin, as the same may be adjusted pursuant to the provisions of the definition of Applicable Margin. Such interest shall be payable quarterly as of the end of in arrears on each Fiscal QuarterInterest Payment Date, at the date of conversion of such Base Rate Loan (or a portion thereof) to a Eurocurrency Eurodollar Loan and at maturity of such Base Rate Loan, and after maturity of such Base Rate Loan (whether by acceleration or otherwise), upon demand. In the event of any change in said Base Rate, the rate hereunder shall change, effective as of the day the Base Rate changes. Each determination by the Administrative Agent of any interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error.