Interest Rate; Payment of Interest. So long as no Event of Default has occurred and subject to the terms hereof, each advance hereunder shall bear interest at the interest rate called for and calculated pursuant to the terms of this Note.
Interest Rate; Payment of Interest. Borrower shall pay interest on the aggregate unpaid principal balance of the Term Loan outstanding from time to time at the applicable rate or rates set forth in Credit and Security Agreement, dated July 9, 1997 between the Borrower, X.X. Xxxxxxx, Inc. and the Lender, as amended, supplemented or otherwise modified from time to time (the “Credit and Security Agreement”). Interest shall be payable, in arrears, and on each Term Loan Interest Payment Date and shall also be payable on the Term Loan Maturity Date. Anything contained in this Note to the contrary notwithstanding, during any period in which an Event of Default is continuing, the interest rate hereunder shall, at the option of the Lender, be increased to the Default Rate, and all interest accruing at such rate shall be payable upon demand by the Lender. Interest shall commence to accrue on the date hereof and shall continue to accrue until all principal hereof is paid in full (whether before or after maturity or judgment). Interest under this Note shall be computed on the basis of a year of three hundred sixty (360) days and the actual number of days elapsed.
Interest Rate; Payment of Interest. Borrower shall pay interest on the principal balance of the Loan outstanding from time to time under the Notes at the respective rate and in accordance with the respective terms set forth in the Notes.
Interest Rate; Payment of Interest. 4.1 The Borrower will pay, over the outstanding amount of the Loan, the interest rate that applies to the Interest Period selected, being the sum of (a) EURIBOR for that Interest Period and (b)
Interest Rate; Payment of Interest. (a) The principal amount outstanding under this Note shall accrue interest at a fixed rate equal to 10% per annum; provided that upon the occurrence of a default under Section 5 below, the principal amount outstanding under this Note shall accrue interest at a fixed rate equal to 15% per annum. Interest shall accrue on the outstanding principal of this Note until all outstanding principal of this Note has been paid in full. Interest shall be computed on the basis of a 360-day year for the actual number of days elapsed including the date of this Note and excluding the date of repayment.
Interest Rate; Payment of Interest. (a) For Eurodollar Loans, the Borrower shall pay interest on the unpaid principal amount thereof from the date of the making thereof until the principal amount thereof shall be paid in full at (i) during the Line of Credit Loan Availability Period, a rate per annum equal at all times during the applicable Interest Period for each Eurodollar Loan to the sum of the Eurodollar Rate for such Interest Period plus the Applicable Margin (calculated on the basis of a year of 360 days), and (ii) upon the occurrence of a Loan Conversion, at a rate per annum equal at all times during the applicable Interest Period for each Eurodollar Loan to the sum of the Eurodollar Rate for such Interest Period plus three and three-quarters percent (3-3/4%), provided that the Majority Banks shall, after consultation with the Borrower, be entitled to change the pricing, structure or terms of the Interim Term Loan Facility if the Majority Banks determine that such changes are warranted by market conditions or to ensure an optimal capital and/or credit structure of any such facilities. Interest shall be payable by the Borrower in arrears on the last day of such Interest Period, except that in the case of Eurodollar Loans having an Interest Period of six months, interest shall be payable both on the three-month anniversary of the date such Eurodollar Loan was made and on the last day of such Interest Period.
Interest Rate; Payment of Interest. Interest on the outstanding principal amount of any loan shall accrue at the Eurodollar Rate (as hereinafter defined) plus 1% during the applicable Interest Period and shall be payable in arrears on the first day of each month commencing April 1, 2004. Except as hereinafter expressly provided, interest on sums advanced hereunder shall be payable at the rate set forth herein until all such sums are fully paid, whether before or after maturity, by acceleration or otherwise, and whether or not any judgment has been issued thereon.
Interest Rate; Payment of Interest. Except as provided in clause (b) below, interest on the unpaid principal amount of the Loans (including any PIK Interest) shall accrue on a quarterly basis and be calculated and payable as follows: (i) interest on the Daily Balance at the Applicable Rate (the “Cash Interest”) is due and payable in arrears in cash on the last day of each Fiscal Quarter and on the Maturity Date (each, an “Interest Payment Date”), and (ii) interest on the Daily Balance at the rate of 4% per annum (the “PIK Interest”) shall accrue in arrears and be added to the principal amount of the Loans on each Interest Payment Date, for so long as there is no Event of Default. If there is an Event of Default, then, thereafter, the interest which would have otherwise been payable in PIK Interest shall be due and payable in arrears in cash on each Interest Payment Date. Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. Notwithstanding anything to the contrary contained in this Agreement, if any Loan Party incurs any Qualified Other Debt that requires the current payment of cash interest, then, from and after such incurrence, the Daily Balance shall cease to bear PIK Interest (it being understood that accrued and unpaid PIK Interest shall be added to the principal amount of the Loans at the time of such incurrence notwithstanding anything to the contrary contained in this Agreement) and the Applicable Rate for all purposes of this Agreement shall be a per annum rate equal to the greater of (x) One Month Libor as in effect on such date plus 11%, and (y) 12% per annum. Unless otherwise specifically set forth herein, references in this Agreement to “interest” refer to Cash Interest and PIK Interest.
Interest Rate; Payment of Interest. Interest on the principal of the Advances shall be a fixed flat rate of eight and one-quarter percent (8.25%) per annum. Accrued interest shall be due and payable, in arrears, monthly, commencing on the first Business Day of the month immediately following execution of this DIP Loan Agreement and continuing on the first Business Day of each month thereafter until all of the Obligations have been paid in full in cash and Atec's commitment to extend the Credit has been terminated pursuant to Section 2.2(d) or Section 7.3(a). Interest under the Revolving Note shall be computed on the basis of actual number of days elapsed in a year of 360 days. Borrower hereby authorizes Atec, if and to the extent an interest payment is not made timely, to make an Advance, in an amount equal to the accrued interest then due and payable to Atec under the Revolving Note or hereunder and to apply the same to the accrued interest due.
Interest Rate; Payment of Interest. Borrower shall pay interest on the aggregate unpaid principal balance of the Revolving Credit Loans outstanding from time to time at the Applicable Revolving Credit Rate. Interest shall be payable, in arrears, on each Revolving Credit Interest Payment Date.
