Common use of Normal interest rate Clause in Contracts

Normal interest rate. The Borrowers shall pay interest on each Tranche in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.

Appears in 10 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Third Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Ninth Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

Normal interest rate. The Borrowers shall pay interest on each Tranche in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent Bank to be the aggregate of (a) the Margin Margin, (b) the Additional Cost and (bc) LIBOR for such Interest Period.

Appears in 5 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Eighth Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)

Normal interest rate. The Borrowers shall agree to pay interest on each Tranche in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Periodmonths) at the rate per annum determined by the Agent Bank to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Periodperiod.

Appears in 4 contracts

Sources: Facility Agreement (Navios Maritime Acquisition CORP), Facility Agreement (Navios Maritime Acquisition CORP), Facility Agreement (Navios Maritime Acquisition CORP)

Normal interest rate. The Borrowers Borrower shall pay interest on each Tranche Advance in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first such instalment payable three (3) months from the commencement of the Interest Period and the subsequent instalments payable at intervals of three (3) months or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Periodperiod) at the rate per annum determined by the Agent Bank to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.

Appears in 3 contracts

Sources: Facility Agreement (Freeseas Inc.), Facility Agreement (FreeSeas Inc.), Supplemental Agreement (FreeSeas Inc.)

Normal interest rate. The Borrowers Borrower shall pay interest on each Tranche the Loan in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first such instalment payable three (3) months from the commencement of the Interest Period and the subsequent instalments payable at intervals of three (3) months or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Periodperiod) at the rate per annum determined by the Agent Bank to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.

Appears in 2 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)

Normal interest rate. The Borrowers shall pay interest on each Tranche in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent Bank to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.

Appears in 2 contracts

Sources: Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)

Normal interest rate. The Borrowers Borrower shall pay interest on each Tranche the Loan in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first such instalment being payable three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent Bank to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.

Appears in 2 contracts

Sources: Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (Navios Maritime Holdings Inc.)

Normal interest rate. The Borrowers shall pay interest on each Tranche Advance or (as the case may be) the Loan in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.

Appears in 2 contracts

Sources: Loan Agreement (Seanergy Maritime Holdings Corp.), Second Supplemental Agreement (Seanergy Maritime Holdings Corp.)

Normal interest rate. The Borrowers Borrower shall pay interest on each Tranche the Loan in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment being due three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months thereof or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Normal interest rate. The Borrowers Borrower shall pay interest on each Tranche the Loan in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three six (36) months, by instalments, the first such instalment being payable three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent Bank to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Normal interest rate. The Borrowers Borrower shall pay interest on each Tranche the Loan in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment being due three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months thereof or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin and Margin, (b) LIBOR for such Interest PeriodPeriod and (c) Mandatory Cost (if any).

Appears in 1 contract

Sources: Loan Agreement (Diana Shipping Inc.)

Normal interest rate. The Borrowers Borrower shall pay interest on each Tranche Advance in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three six (36) months, by instalments, the first such instalment three payable six (36) months from the commencement of the Interest Period and the subsequent instalments payable at intervals of three six (36) months or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Periodperiod) at the rate per annum determined by the Agent Bank to be the aggregate of (a) the Margin and (b) LIBOR for such Interest Period.

Appears in 1 contract

Sources: Facility Agreement (Globus Maritime LTD)