Interest on Revolving Credit. Interest shall accrue on the Principal Loan Amount outstanding from time to time at a variable rate per annum (the "Revolving Credit Rate") equal to the greater of (a) the National Prime Rate, or (b) the LIBOR Rate plus 2.50%, but in no event shall the Revolving Credit Rate be less than five percent (5.0%) per annum. Such rate shall fluctuate monthly based on changes in such rates on the first business day of each month. All interest under the Notes shall accrue based on a year of 360 days, and for actual days elapsed. Interest shall be due no later than the tenth day of each month. Notwithstanding anything to the contrary elsewhere herein, after an Event of Default has occurred and is continuing, interest shall accrue on the entire outstanding balance of principal and interest on all indebtedness hereunder at a fluctuating rate per annum equal to the Default Rate.
Interest on Revolving Credit. Interest shall accrue on the Principal Loan Amount outstanding from time to time at a variable rate per annum equal to the Base Rate minus 3/4 of 1%. Such rate shall fluctuate daily based on changes in the Base Rate on such date. The Base Rate minus 3/4 of 1% per annum is referred to herein as the "Revolving Credit Rate." All interest under the Notes shall accrue based on a year of 360 days, and for actual days elapsed. Interest shall be due no later than the tenth day of each month. Notwithstanding anything to the contrary elsewhere herein, after an Event of Default has occurred and is continuing, interest shall accrue on the entire outstanding balance of principal and interest on all indebtedness hereunder at a fluctuating rate per annum equal to the Default Rate.
Interest on Revolving Credit. Advances (a)
Interest on Revolving Credit. Until the earlier of June 30, 1998, or the date on which the revolving credit loan hereunder is converted to a term loan, interest shall accrue on the Principal Loan Amount outstanding from time to time at a variable rate, which shall fluctuate on a monthly basis, equal to the Base Rate minus a margin as determined below. The margin shall be adjusted quarterly after receipt of the Borrower's Quarterly Compliance Certificate, commencing with the Quarterly Compliance Certificate in the form of Exhibit C hereto for the quarter ended 12/31/96. Adjustments shall be retroactive to the beginning of the current quarter. Leverage Ratio Margin Below Base Rate ----------------------------- ---------------------- Greater than 42 .25% Greater than 36 but not more than 42 .50% Greater than 30 but not more than 36 .75% Greater than 24 but not more than 30 1.00% Greater than 18 but not more than 24 1.25% 18 or less 1.375%
Interest on Revolving Credit. Interest shall accrue on the Principal Loan Amount outstanding from time to time at a variable rate per annum (the "Revolving Credit Rate") equal to the Prime Rate PLUS one quarter of one percent (.25%). Each change in the Prime Rate shall be effective as of the opening of business on the day such change in the Prime Rate occurs. The parties hereto acknowledge that the rate announced publicly by FNBO as its Prime Rate is an index or base rate and shall not necessarily be its lowest or best rate charged to its customers or other banks. All interest under the Note shall accrue based on a year of 360 days, and for actual days elapsed. Interest for any month shall be due no later than the tenth day of the following month. Notwithstanding anything to the contrary elsewhere herein, after an Event of Default has occurred and is continuing, interest shall accrue on the entire outstanding balance of principal and interest on all indebtedness hereunder at a fluctuating rate per annum equal to the Default Rate.
Interest on Revolving Credit. (1) From the date hereof until termination of this Agreement, the Outstanding Balance shall accrue interest daily at a rate equal to the Revolving Credit Interest Rate; provided, however, that any Obligation not paid when due (whether pursuant to an Event of Default or otherwise, and before as well as after judgment) shall accrue interest daily at a rate equal to the Revolving Credit Interest Rate plus two percent (2.0%).
Interest on Revolving Credit. Section 2.3 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
Interest on Revolving Credit. Except as otherwise provided in ss.6.11, each Revolving Credit Loan shall bear interest for the period commencing with the Drawdown Date thereof and ending on the last day of the Interest Period with respect thereto at the Base Rate PLUS the Applicable Margin.
Interest on Revolving Credit quarterly after receipt of the Borrower's Quarterly Compliance Certificate. Adjustments shall be retroactive to the beginning of the current quarter.
Interest on Revolving Credit. Interest shall accrue on the Principal Loan Amount outstanding from time to time at a variable rate per annum (the "Revolving Credit Rate") equal to the LIBOR Rate plus the Applicable Margin. Such rate shall fluctuate monthly based on changes in such rate on the first day of each month. If at any time no LIBOR Rate exists, interest shall accrue on the Principal Loan Amount outstanding from time to time at a rate equal to the National Prime Rate minus 1.00%. All interest under the Notes shall accrue based on a year of 360 days, and for actual days elapsed. Interest for any month shall be due no later than the tenth day of the following month. Notwithstanding anything to the contrary elsewhere herein, after an Event of Default has occurred and is continuing, interest shall accrue on the entire outstanding balance of principal and interest on all indebtedness hereunder at a fluctuating rate per annum equal to the Default Rate.
