Common use of Interest on Libor Loans Clause in Contracts

Interest on Libor Loans. Subject to the provisions of Section 3.6., interest on each LIBOR Loan shall accrue at an interest rate per annum during the Interest Period for such Loan equal to the Adjusted LIBO Rate for the Interest Period in effect for such LIBOR Loan plus the Applicable Margin. All such accrued interest shall be payable (i) on the last day of each Interest Period with respect thereto and, if such Interest Period is longer than three months, at three-month intervals following the first day of such Interest Period, (ii) on the date of Conversion of such LIBOR Loan (or a portion thereof) to another Type of Loan, (iii) upon any prepayment of such LIBOR Loan (but only on the principal amount so prepaid) and (iv) at maturity of such Loan (and after maturity of such Loan (whether by acceleration or otherwise) upon demand). The Administrative Agent upon determining the Adjusted LIBO Rate and the interest rate applicable to the Syndicate Loans hereunder for any Interest Period shall promptly notify the Borrower and the Lenders by telephone or in writing thereof via facsimile transmission. Each determination by the Administrative Agent of an interest rate hereunder shall be conclusive and binding on the Lenders and the Borrower for all purposes, absent manifest error.

Interest on Libor Loans. Subject to the provisions of Section 3.65.6., interest on each LIBOR Loan shall accrue at an interest rate per annum during the Interest Period for such Loan equal to the Adjusted LIBO Rate for the Interest Period in effect for such LIBOR Loan plus the Applicable Margin. All such accrued interest shall be payable (i) on the last day of each Interest Period with respect thereto and, if such Interest Period is longer than three months, at three-month intervals following the first day of such Interest Period, (ii) on the date of Conversion of such LIBOR Loan (or a portion thereof) to another Type of Loan, (iii) upon any prepayment of such LIBOR Loan (but only on the principal amount so prepaid) and (iv) at maturity of such Loan (and after maturity of such Loan (whether by acceleration or otherwise) upon demand). The Administrative Agent upon determining the Adjusted LIBO Rate and the interest rate applicable to the Syndicate Loans hereunder for any Interest Period shall promptly notify the Borrower and the Lenders by telephone or in writing thereof via facsimile transmission. Each determination by the Administrative Agent of an interest rate hereunder shall be conclusive and binding on the Lenders and the Borrower for all purposes, absent manifest error.

Interest on Libor Loans. Subject to the provisions of Section 3.65.6., interest on each LIBOR Loan shall accrue at an interest rate per annum during the Interest Period for such Loan equal to the Adjusted LIBO Rate for the Interest Period in effect for such LIBOR Loan plus the Applicable Margin. All such accrued interest shall be payable (i) on the last day of each Interest Period with respect thereto and, if such Interest Period is longer than three months, at on each three-month intervals following "anniversary" of the first day of such Interest Period, (ii) on the date of Conversion of such LIBOR Loan (or a portion thereof) to another Type of Loan, (iii) upon any prepayment of such LIBOR Loan (but only on the principal amount so prepaid) and (iv) at maturity of such Loan (and after maturity of such Loan (whether by acceleration or otherwise) upon demand). The Administrative Agent upon determining the Adjusted LIBO Rate and the interest rate applicable to the Syndicate Loans hereunder for any Interest Period shall promptly notify the Borrower and the Lenders by telephone or in writing thereof via facsimile transmission. Each determination by the Administrative Agent of an interest rate hereunder shall be conclusive and binding on the Lenders and the Borrower for all purposes, absent manifest error.