Common use of Interest Payment Clause in Contracts

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to Section

Appears in 2 contracts

Samples: Financing Agreement (Alj Regional Holdings Inc), Financing Agreement (Alj Regional Holdings Inc)

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Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower The Borrowers hereby authorizes authorize the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.02 with the amount of any interest payment due hereunder.

Appears in 2 contracts

Samples: Financing Agreement (Mattress Holding Corp.), Financing Agreement (High Voltage Engineering Corp)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each The Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 5.02 with the amount of any interest payment due hereunder.

Appears in 2 contracts

Samples: Financing Agreement (Oglebay Norton Co /Ohio/), Financing Agreement (Oglebay Norton Co /Ohio/)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 5.02 with the amount of any interest payment due hereunder.

Appears in 2 contracts

Samples: Financing Agreement (Aaipharma Inc), Financing Agreement (Solutia Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthlyquarterly, in arrears, on the first day of each monthFiscal Quarter, commencing on with the first day of the month Fiscal Quarter following the month Fiscal Quarter in which such Loan is made made, and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each The Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Ascend Wellness Holdings, LLC)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each The Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to Section1)a)x) with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (MDC Partners Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Patriot National, Inc.)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Zagg INC)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 3.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Lakes Entertainment Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 3.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Gordon Biersch Brewery Restaurant Group, Inc.)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower The Borrowers hereby authorizes authorize the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Harvard Bioscience Inc)

Interest Payment. Interest on each Loan shall ---------------- be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 5.02 ------------ with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Solutia Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Penthouse International Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made made, and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each The Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Elgar Holdings Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.02 with the amount of any interest payment due hereunder with respect to the Obligations.

Appears in 1 contract

Samples: Financing Agreement (Allied Holdings Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each The Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 3.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Credit Agreement (Pen Holdings Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account of the applicable Borrowers pursuant to SectionSection 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Cherokee Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Alj Regional Holdings Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, ---------------- in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower The Borrowers hereby authorizes authorize the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Lernout & Hauspie Speech Products Nv)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Post- Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Milacron Inc)

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Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the applicable Loan Account pursuant to SectionSection 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Lifevantage Corp)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each The Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Ezcorp Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower The Borrowers hereby authorizes authorize the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 5.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Oglebay Norton Co /Ohio/)

Interest Payment. Interest on each Loan (other than capitalized interest) shall accrue and be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made Effective Date and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Gerber Scientific Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on written demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Foster Wheeler LTD)

Interest Payment. Interest on each Loan shall be payable (i) monthly, ---------------- in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made March 1, 1996, and (ii) in the case of each Loan, at maturity (whether upon demandat stated maturity, by demand made pursuant to the terms of this Agreement, acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower The Borrowers hereby authorizes authorize the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Borrowers' Loan Account pursuant to SectionSection 4.02 of this Agreement with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Happy Kids Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made made, and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each The Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Itt Educational Services Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each monthInterest Payment Date, commencing on the first day Business Day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (KushCo Holdings, Inc.)

Interest Payment. Interest on each the Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such the Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Remark Media, Inc.)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest accruing at the Post-Default Rate shall be payable on demand. Each The Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Redback Networks Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Loan Agreement (Otelco Inc.)

Interest Payment. Interest on each Loan shall ---------------- be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Solutia Inc)

Interest Payment. Interest on each Loan shall be payable (i) monthly, in arrears, on the first day of each month, commencing on the first day of the month following the month in which such Loan is made and (ii) in the case of each Loan, at maturity (whether upon demand, by acceleration or otherwise). Notwithstanding the foregoing, interest Interest at the Post-Default Rate shall be payable on demand. Each The Borrower hereby authorizes the Administrative Funding Agent to, and the Administrative Funding Agent may, from time to time, charge the Loan Account pursuant to SectionSection 4.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Samples: Financing Agreement (Atp Oil & Gas Corp)

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