Common use of Interest Payment Clause in Contracts

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day of each month, commencing on the first Business Day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). Interest at the Post-Default Rate shall be payable on demand.

Appears in 2 contracts

Sources: Financing Agreement (Unique Logistics International, Inc.), Financing Agreement (Unique Logistics International, Inc.)

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 4.02 with the amount of any interest payment due hereunder.

Appears in 2 contracts

Sources: Financing Agreement (Milacron Inc), Financing Agreement (Aaipharma Inc)

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 Section 4.01 with the amount of any interest payment due hereunder.

Appears in 2 contracts

Sources: Financing Agreement (Angie's List, Inc.), Financing Agreement (Angie's List, Inc.)

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

Appears in 2 contracts

Sources: Financing Agreement (Ahl Services Inc), Bridge Term Loan Agreement (Cenuco Inc)

Interest Payment. Interest on each Term the Loan shall be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term the Loan is made and at maturity (whether upon demand, by acceleration or acceleration, otherwise). Interest at the Post-Default Rate shall be payable on demand.

Appears in 2 contracts

Sources: Promissory Note (Cornerworld Corp), Promissory Note (Cornerworld Corp)

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

Appears in 2 contracts

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

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 5.02 with the amount of any interest payment due hereunder.

Appears in 2 contracts

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

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

Appears in 1 contract

Sources: Financing Agreement (Ezcorp Inc)

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

Appears in 1 contract

Sources: Financing Agreement (Itt Educational Services Inc)

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and (ii) at maturity (whether upon demand, by acceleration or otherwise). 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 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Loan Agreement (Otelco Inc.)

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

Appears in 1 contract

Sources: Financing Agreement (Coram Healthcare Corp)

Interest Payment. Interest Except as set forth in Section 2.04(c), interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day of each month, commencing on the first Business Day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). Interest at the Post-Default Rate shall be payable on demand. Borrower hereby authorizes Administrative Agent to, and Administrative Agent may, from time to time, charge the Loan Account pursuant to Section 2.02(b) and Section 3.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Credit Agreement (Avado Brands Inc)

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

Appears in 1 contract

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

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

Appears in 1 contract

Sources: Credit Agreement (Pen Holdings Inc)

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

Appears in 1 contract

Sources: Financing Agreement (Elgar Holdings Inc)

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 Section 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Financing Agreement (Cherokee Inc)

Interest Payment. Interest on each Term the Loan shall be payable (i) monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term the Loan is made and (ii) at maturity (whether upon demand, by acceleration or otherwise). 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 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Financing Agreement (Remark Media, Inc.)

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

Appears in 1 contract

Sources: Financing Agreement (Redback Networks Inc)

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 4.02 with the amount of any interest payment due hereunder with respect to the Obligations.

Appears in 1 contract

Sources: Financing Agreement (Allied Holdings Inc)

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 Section 4.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Financing Agreement (Foster Wheeler LTD)

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

Appears in 1 contract

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

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

Appears in 1 contract

Sources: Financing Agreement (Gerber Scientific Inc)

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

Appears in 1 contract

Sources: Financing Agreement (Harvard Bioscience Inc)

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

Appears in 1 contract

Sources: Financing Agreement (Lakes Entertainment Inc)

Interest Payment. Interest on each Term Loan shall ---------------- be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 4.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Financing Agreement (Solutia Inc)

Interest Payment. Interest on each Term Loan shall be payable (i) monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and (ii) at maturity (whether upon demand, by acceleration or otherwise). 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 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Financing Agreement (Patriot National, Inc.)

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 3.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

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

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). Interest at the Post-Default Rate shall be payable on demand. The Borrower hereby authorizes the Administrative Agent to, and the Administrative Agent may, from time to time, charge the Loan Account pursuant to 1)a)x) with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Financing Agreement (MDC Partners Inc)

Interest Payment. Interest on each Term the Loan shall be payable in cash, monthly, in arrears, on the first Business Day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made Effective Date and at maturity (whether upon demand, by acceleration or otherwise). Interest at the Post-Default Rate shall be payable on demand.

Appears in 1 contract

Sources: Term Loan Agreement (Scottish Re Group LTD)

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

Appears in 1 contract

Sources: Financing Agreement (Atp Oil & Gas Corp)

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day of each monthInterest Payment Date, commencing on the first Business Day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Financing Agreement (KushCo Holdings, Inc.)

Interest Payment. Interest on each Term Loan shall be payable monthlymonthly in cash, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 4.1 with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Term Loan Credit Agreement (Synergy CHC Corp.)

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 Section 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Financing Agreement (Lifevantage Corp)

Interest Payment. Interest on each Term Loan shall ---------------- be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 5.02 ------------ with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Financing Agreement (Solutia Inc)

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

Appears in 1 contract

Sources: Financing Agreement (Penthouse International Inc)

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

Appears in 1 contract

Sources: Financing Agreement (Happy Kids Inc)

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 Section 4.02 with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Financing Agreement (Milacron Inc)

Interest Payment. Interest on each Term Loan shall be payable monthly, in arrears, on the first Business Day day of each month, commencing on the first Business Day day of the month following the month in which such Term Loan is made and at maturity (whether upon demand, by acceleration or otherwise). 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 4.01 with the amount of any interest payment due hereunder.

Appears in 1 contract

Sources: Financing Agreement (Zagg INC)