Common use of LIBOR Tranches Clause in Contracts

LIBOR Tranches. Each LIBOR Tranche shall bear interest during its Interest Period at a per annum interest rate equal to the lesser of (i) the Highest Lawful Rate or (ii) the sum of the LIBOR for such Tranche plus the Applicable Margin for LIBOR Tranches in effect from time to time. The Borrower shall pay to the Agent for the ratable benefit of the Banks all accrued but unpaid interest on each LIBOR Tranche on the last day of the applicable Interest Period for such LIBOR Tranche (and with respect to LIBOR Tranches with Interest Periods of greater than three months, on the date which is three months after the first date of the Interest Period for such LIBOR Tranche), when required upon prepayment as specified elsewhere in this Agreement, on any date when any portion of any LIBOR Tranche is prepaid (but only to the extent of the portion of any such LIBOR Tranche is prepaid), and on the Revolving Credit Maturity Date.

LIBOR Tranches. Each LIBOR Tranche shall bear interest during its Interest Period at a per annum interest rate equal to the lesser of (i) the Highest Lawful Rate or (ii) the sum of the LIBOR for such Tranche plus the Applicable Margin for LIBOR Tranches in effect from time to time. The applicable Borrower shall pay to the Agent for the ratable benefit of the Banks Banks, in case of any LIBOR Tranche under the Revolving Loan, all accrued but unpaid interest on each LIBOR Tranche on the last day of the applicable Interest Period for such LIBOR Tranche (and with respect to LIBOR Tranches with Interest Periods of greater than three months, on the date which is three months after the first date of the Interest Period for such LIBOR Tranche), when required upon prepayment as specified elsewhere in this Agreement, on any date when any portion of any such LIBOR Tranche is prepaid (but only to the extent of the portion of any such LIBOR Tranche is prepaid)in full, and on the Revolving Credit Revolver Maturity Date. Interest on the Term Loans is payable as provided in Section 2.1(e).