Interest Rate and Payment Dates Clause Samples
The 'Interest Rate and Payment Dates' clause defines the rate at which interest will accrue on outstanding amounts and specifies the schedule for when interest payments are due. Typically, this clause outlines whether the interest is fixed or variable, how it is calculated, and the exact dates or intervals (such as monthly or quarterly) when payments must be made. Its core practical function is to ensure both parties have a clear understanding of financial obligations, reducing the risk of disputes over payment timing or amounts.
Interest Rate and Payment Dates. (i) Each LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the LIBOR Rate determined for such Interest Period plus the Applicable Margin.
(ii) Each FIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (x) if funded by a Lender in Germany, (A) prior to commencement of the third stage of EMU, the FIBOR Rate determined for such Interest Period plus the Applicable Margin, and (B) on and after commencement of the third stage of EMU, the EURIBOR Rate determined for such Interest Period plus the Applicable Margin and (y) otherwise, the FIBOR Rate determined for such Interest Period plus the Applicable Margin.
(iii) Each PIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (x) if funded by a Lender in France, (A) prior to commencement of the third stage of EMU, the PIBOR Rate determined for such Interest Period plus the Applicable Margin and (B) on and after commencement of the third stage of EMU, the EURIBOR Rate determined for such Interest Period plus the Applicable Margin and (y) otherwise, the PIBOR Rate determined for such Interest Period plus the Applicable Margin.
(b) Each ABR Loan shall bear interest for the period from and including the date thereof until maturity at a rate per annum equal to the ABR plus the Applicable Margin.
(c) If all or a portion of (i) the principal amount of any Loan or any reimbursement obligation, (ii) any interest payable thereon or (iii) any facility fee, commission or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (A) the rate pursuant to paragraph (a) of this subsection plus 2% or (B) in the case of amounts in Dollars, if higher, the rate described in paragraph (b) of this subsection 2.15 plus 2%, or in each case from the date of such non-payment until such amount is paid in full (as well after as before judgment). The Administrative Agent may choose any Interest Period from time to time (including one Interest Period of shorter than one month) with respect to any overdue amount bearing interest based upon paragraph (a) of this subsection.
(d) Interest shall be payable in arrears on each Interest Payment Date, except that interest payable pursuant to subsection 2.15(c) shall be...
Interest Rate and Payment Dates. (a) The Eurodollar Loans shall bear interest for each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Alternate Base Rate Loans shall bear interest for the period from and including the date thereof until maturity on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate.
(i) If all or a portion of the principal amount of any Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this subsection 2.8 plus 2%, and (ii) if all or a portion of any interest payable on any Loan or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Alternate Base Rate Loans plus 2%, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full (as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this subsection 2.8 shall be payable from time to time on demand.
Interest Rate and Payment Dates. (a) Each LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the LIBOR Rate determined for such Interest Period plus the Applicable Margin.
(b) Each ABR Loan shall bear interest for the period from and including the date thereof until maturity at a rate per annum equal to the ABR plus the Applicable Margin.
(c) If all or a portion of (i) the principal amount of any Loan or any reimbursement obligation, (ii) any interest payable thereon or (iii) any commitment fee, commission or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (A) the rate pursuant to paragraph (a) of this subsection plus 2% or (B) in the case of amounts in Dollars, if higher, the rate described in paragraph (b) of this subsection 2.11 plus 2%, in each case from the date of such non‑payment until such amount is paid in full (as well after as before judgment). The Administrative Agent may choose any Interest Period from time to time (including one Interest Period of shorter than one month) with respect to any overdue amount bearing interest based upon paragraph (a) of this subsection.
(d) Interest shall be payable in arrears on each Interest Payment Date, except that interest payable pursuant to subsection 2.11(c) shall be payable upon demand.
Interest Rate and Payment Dates. (a) All Loans shall bear interest on the unpaid principal amount thereof at a rate per annum equal to the Applicable Rate.
(b) If all or a portion of any Loan, any interest payable thereon or any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration, as a result of an event requiring a mandatory prepayment or otherwise), then, for so long as such amount remains unpaid, such overdue amount shall bear interest at a rate per annum equal to the Applicable Rate plus 2%.
(c) Interest on the outstanding principal amount of each Loan from time to time shall accrue and be payable in arrears in cash on each Interest Payment Date, provided that interest accruing pursuant to paragraph (b) of this Section shall be payable from time to time on demand.
(d) Interest shall be calculated on the basis of a 365 (or 366, as the case may be) day year for the actual days elapsed.
Interest Rate and Payment Dates. (a) Except as otherwise provided in Section 2.7(b), prior to maturity, the outstanding principal balance of the Loan shall bear interest at a rate per annum equal to 5.00%.
(b) Notwithstanding the foregoing, after the occurrence and during the continuance of an Event of Default, so long as such Event of Default is continuing, all principal of the Loan and each fee and other amount then due and payable by the Borrower hereunder (whether at the stated maturity thereof, by acceleration or otherwise) shall bear interest at a rate per annum equal to 5.00% above the otherwise applicable rate, from the date of such Event of Default until such Event of Default is cured or waived in writing by the Bank. In addition, if any payment of interest or principal hereunder is not paid or funds are not available to be automatically debited on the date on which it is due, the Borrowers shall pay to the Bank, upon demand, an amount equal to 5.00% of such unpaid payment.
(c) All interest hereunder shall be computed on the basis of a year of 360 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day).
(d) Except as provided in the next sentence, interest on the Loan shall be paid monthly in arrears on the first day of each month, commencing on the first such day after the Loan, and at maturity for the Loan. Interest that is payable at the post-default rate as provided in provided in Section 2.7(b) shall be payable from time to time on demand of the Bank.
(e) No interest payable hereunder, whether by reason of maturity, the acceleration thereof, or otherwise, shall be in excess of the maximum rate permitted by any applicable law. As used herein, the term "applicable law" means the law in effect as of the Effective Date; provided that in the event there is a change in the law which results in a higher permissible rate of interest, then this Agreement shall be governed by such new law as of its effective date. In this regard, it is expressly agreed that it is the intent of the Borrowers and the Bank in the execution, delivery and acceptance of this Agreement to contract in strict compliance with the laws of the State of New York from time to time in effect. If, under or from any circumstances whatsoever, fulfillment of any provision hereof or of any of the Loan Documents at the time of performance of such provision shall be due, shall involve transcending the limit of such validity prescribed by applicable ...
Interest Rate and Payment Dates. (a) Each Loan shall bear interest on the unpaid principal amount thereof at a rate per annum from time to time equal to 8.00%.
(b) If all or a portion of any Loan, any interest payable thereon or any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration, as a result of an event requiring a mandatory prepayment or otherwise), then, for so long as such amount remains unpaid, such overdue amount shall bear interest at a rate per annum equal to the rate otherwise in effect plus 2%.
(c) Interest accrued from time to time in respect of each Loan shall be payable in cash in arrears on each Interest Payment Date; provided, that interest accruing pursuant to paragraph (b) of this Section 3.3 shall be payable from time to time on demand. Any accrued and unpaid interest on the Loans shall be payable in full in cash on the Termination Date.
(d) Interest shall be calculated on the basis of a 365 (or 366, as the case may be) day year for the actual days elapsed.
Interest Rate and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period therefor on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Each Base Rate Loan shall bear interest for each day on the unpaid principal amount thereof, at a rate per annum equal to the Base Rate determined for such day.
(c) Each C$ Prime Loan shall bear interest for each day on the unpaid principal amount thereof, at a rate per annum equal to the Canadian Prime Rate determined for such day.
(d) If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon or (iii) any Facility Fee, Acceptance Fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 4.3 plus 1% or (y) in the case of any overdue interest, Facility Fee, Acceptance Fee or other amount, the rate described in Section 4.3(b) (in the case of amounts payable in Dollars) or 4.3(c) (in the case of amounts payable in C$) plus 1%, in each case from the date of such non-payment to (but excluding) the date on which such amount is paid in full (as well after as before judgment).
(e) Interest shall be payable in arrears (i) with respect to Eurodollar Loans having an Interest Period of three months or less, on the last day of such Interest Period, (ii) with respect to Eurodollar Loans having an Interest Period longer than three months, on each day which is three months, or a whole multiple thereof, after the first day of such Interest Period and the last day of such Interest Period, (iii) with respect to Base Rate Loans and C$ Prime Loans, on the last day of each March, June, September and December, and (iv) with respect to all Loans, upon each repayment, prepayment or conversion thereof; provided that interest accruing pursuant to Section 4.3(d) shall be payable on demand. Interest payable in respect of U.S. R/C Loans shall be payable in Dollars by CFC and interest payable in respect of C$ Loans shall be payable in C$ by CCCL (subject to Section 12).
(f) The amount of interest on any Eurodollar Loans to be paid on any date as specified in paragraph (e) above shall in each case be determined under the assump...
Interest Rate and Payment Dates. The Eurodollar Loans shall bear interest for each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
Interest Rate and Payment Dates. (a) Each Loan shall bear interest for each day at the Interest Rate.
(b) If all or a portion of (i) any principal of any Loan, (ii) any interest payable thereon, or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal of the Loans and any such overdue interest or other amount shall bear interest at the Interest Rate plus 3%, in each case from the date of such non-payment until such overdue principal, interest or other amount is paid in full (as well after as before judgment).
(c) Interest shall be payable in arrears on the last Business Day of each month, provided that interest accruing pursuant to paragraph (b) of this subsection shall be payable from time to time on demand.
Interest Rate and Payment Dates. (a) PRIOR TO MATURITY. Prior to maturity, the outstanding principal balance of the Loans shall bear interest on the unpaid principal amount thereof at the applicable interest rate or rates per annum set forth below: Advances Rate -------- ---- Each ABR Advance Alternate Base Rate plus the Applicable Margin applicable to ABR Advances. Each Eurodollar Advance Eurodollar Rate for the applicable Interest Period plus the Applicable Margin applicable to Eurodollar Advances.