Interest on the Note. Borrower hereby irrevocably authorizes and directs Lender to disburse Loan funds for payment of interest under the Note, if not paid by Borrower when due, directly to itself by journal entry without further authorization by Borrower. All such amounts shall be evidenced by the Note and secured by the Deed of Trust and all of the other Loan Documents.
Interest on the Note. The Note shall initially bear interest at the Initial Rate. If on the Interest Rate Reset Date the following statements shall be true and correct and the Lender shall have received a certificate incorporating by reference the definitions of the capitalized terms defined in the Loan Agreement, signed by the Director and dated the Interest Rate Reset Date, stating that (i) the representations and warranties of the Borrower contained in the Loan Agreement and in each of the other Related Documents are true and correct on and as of the Interest Rate Reset Date as though made on and as of such date, (ii) no Default or Event of Default has occurred and is continuing as of Interest Rate Reset Date, and (iii) no Event of Non-Allocation has occurred, commencing on the Interest Rate Reset Date the Note shall bear interest at the Bank Rate and be subject to amortization as set forth in the Loan Agreement. During the Amortization Period interest on the Note will be calculated as set forth in the Loan Agreement and will be payable as set forth in the Loan Agreement. Each determination of interest rates shall be conclusive and binding on the Borrower, the Note Registrar, and the Noteholders. Any Noteholder may ascertain the rate of interest on the Note by contacting the Note Registrar.
Interest on the Note. (a) The Company shall pay interest on the unpaid principal amount from time to time outstanding under this Note at the rate of 11% per annum; provided, that once any principal amount hereof or interest hereon shall have become due and payable, if such amount is not timely paid, the Company shall thereafter pay interest on any such overdue principal amount and, to the extent permitted by applicable law, on any such overdue interest, at the rate of 13% per annum until such amounts shall have been paid in full in cash. Interest on this Note shall be computed on the basis of actual days elapsed over a 360-day year.
Interest on the Note. (i) Borrower agrees to pay interest on the outstanding principal amount of the Note from the date of disbursement of the Loan proceeds until the Maturity Date at the rate of nine percent (9%) per annum.
Interest on the Note. The Loan shall be evidenced by the Note and shall be due and payable in accordance with and as required by Section 2.7. The Note shall bear interest from the date thereof through maturity (whether by acceleration or otherwise) on the unpaid principal balance thereof from time to time outstanding at the Interest Rate, and shall be payable as set forth in Section 2.7 hereof. From and after the Due Date, interest shall accrue on the unpaid principal balance of the Loan and on all accrued but unpaid interest thereon, or on such defaulted payment, from the Due Date at the Default Rate. Such interest shall continue to accrue until the date of payment in full of all principal and accrued but unpaid interest of such defaulted payment, if applicable.
Interest on the Note. The Loan shall be evidenced by the Notes attached hereto as Exhibit "A" and shall be due and payable in accordance with and as required by the terms and conditions contained therein and as hereinafter provided in Section 2.07. The Company shall not be liable under the Notes except with respect to funds actually advanced to the Company by the Bank pursuant to the terms hereof. The Note interest on the Notes evidencing each of the credit facilities shall be paid as follows:
Interest on the Note. Interest shall accrue on the unpaid principal amount of the Note from and including the Closing Date, at an interest rate of 15.0% per annum, payable at the election of the holder in cash or by wire transfer of immediately available funds to the respective account designated in writing by Purchaser, monthly in arrears on the last day of each month (or, if the last day of any such month is not a Business Day, on the next Business Day after such last day). Interest on the Note will be computed on the basis of a 360-day year composed of twelve 30-day months. The Note shall bear interest on any overdue principal, including any overdue payment or prepayment of principal and premium, if any, and (to the extent permitted by applicable law) on any overdue installment of interest, at the rate of 2% per annum in excess of the interest rate applicable to timely payments thereon.
Interest on the Note. The Loan shall bear interest on the unpaid -------------------- principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a floating rate equal to the Prime Rate plus one and one-half percent (1.50%), and shall be payable as set forth in paragraph (g) of this Section 2. If appropriate, the Interest Rate on the Loan shall be adjusted quarterly and shall fluctuate based upon the Borrower's Funded Debt to EBITDA Ratio ("FD/EBITDA"), as determined by the Bank, and shall be a fluctuating rate equal to the Prime Rate ("P") plus the Applicable Margin, as follows: FD/EBITDA INTEREST RATE --------- ------------- More than or equal to 3.75:1 + less than or equal to 4.0:1 P + 2.00% More than or equal to 3.5:1 + less than 3.75:1 P + 1.75% More than or equal to 3.0:1 + less than 3.5:1 P + 1.50% More than or equal to 2.0:1 + less than 3.0:1 P + 1.25% More than 2.0:1 P + 1.00% Any increase or decrease in the Interest Rate which is occasioned by a change in the FD/EBITDA shall be effective as of the first Day of the month following the receipt by the Bank of the Borrower's quarterly financial statements reflecting such change, and shall be calculated by the Bank based upon such quarterly financial statements. During the first year after the closing, the Borrower's FD/EBITDA shall be calculated by annualizing the Borrower's EBITDA as reflected on the Borrower's financial statements and dividing the result into the Borrower's Funded Debt as at the end of the applicable calendar quarter. After the first year, the Borrower's FD/EBITDA shall be calculated by the Bank on a rolling four quarter basis, based on the Borrower's most recent quarterly financial statements and its financial statements for the preceding three quarters. From and after the Due Date, interest shall accrue on the unpaid principal balance of the Loan and on all accrued but unpaid interest thereon, or on such defaulted payment, from the Due Date at the Default Rate. Such interest shall continue to accrue until the date of payment in full of all principal and accrued but unpaid interest on such defaulted payment, if applicable.
Interest on the Note. The Note shall bear interest from the date -------------------- thereof on the unpaid principal balance thereof from time to time outstanding at the Interest Rate. From and after the Due Date, interest shall accrue on the unpaid principal balance of the Loan and on all accrued but unpaid interest thereon, at the Default Rate. Such interest shall continue to accrue until the date of payment in full of all principal and accrued but unpaid interest thereon and shall be due and payable on demand from time to time by Lender and upon the date of payment of the unpaid principal balance of the Loan or such defaulted payment.
Interest on the Note. The Facility shall be evidenced by the Note and shall be due and payable in accordance with and as required by Section 2.7. The Note shall bear interest from the date thereof on the unpaid principal balance thereof from time to time from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Prime Rate or LIBOR, as selected from time to time by the Borrower, and shall be payable as set forth in Section 2.7. The applicable basis for determining the rate of interest shall be selected by Borrower at the time the Notice of Borrowing is given pursuant to Section 2.2 or at the time a Notice of Conversion/Continuation is given pursuant to Section 2.7. If on any Day a Loan is outstanding with respect to which such a Notice has not been delivered to Bank in accordance with the terms of this Agreement specifying the basis for determining the rate of interest, then for that Day that Loan shall bear interest at the rate determined by reference to the Prime Rate, determined in accordance with this Section 2.3. Interest on Loans or Advances under the Facility shall fluctuate based upon the Borrower's Funded Debt to EBITDA Ratio ("Funded Debt/EBITDA"), determined by the Bank quarterly, as follows:
