Common use of Normal interest rate Clause in Contracts

Normal interest rate. The Borrower shall pay interest on each Advance or, as the case may be the Facility A Loan, or the Facility B Loan or 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 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, (b) the Additional Cost and (c) LIBOR for such Interest Period.

Appears in 2 contracts

Sources: Facilities Agreement (Aries Maritime Transport LTD), Facilities Agreement (Omega Navigation Enterprises, Inc.)

Normal interest rate. The Borrower Borrowers shall pay interest on each Advance or, as the case may be the Facility A Loan, or the Facility B Loan or 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, (b) the Additional Cost LIBOR for such Interest Period and (c) LIBOR for such Interest PeriodMandatory Cost (if any).

Appears in 2 contracts

Sources: Supplemental Agreement (Diana Shipping Inc.), Loan Agreement (DryShips Inc.)

Normal interest rate. The Borrower Borrowers shall pay interest on each Advance or, or (as the case may be the Facility A Loanbe) Tranche or Sub-Tranche, or the Facility B Loan or 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 relevant Margin, (b) the Additional Cost LIBOR for such Interest Period and (c) LIBOR for such Interest PeriodMandatory Cost (if any).

Appears in 2 contracts

Sources: Facility Agreement (Costamare Partners LP), Facility Agreement (Costamare Partners LP)

Normal interest rate. The Borrower Borrowers shall pay interest on each Tranche (or any Advance or, as the case may be the Facility A Loan, or the Facility B Loan or the Loan thereof) 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, (b) the Additional Cost LIBOR for such Interest Period and (c) LIBOR for such Interest PeriodMandatory Cost (if any).

Appears in 1 contract

Sources: Loan Agreement (Diana Containerships Inc.)

Normal interest rate. The Borrower Borrowers shall pay interest on each Advance or, as the case may be the Facility A Loanbe, or the Facility B Loan or 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 three instalment six (36) months from the commencement of the Interest Period and the subsequent instalments 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 Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin, Margin and (b) the Additional Cost and (c) LIBOR for such Interest Period.

Appears in 1 contract

Sources: Loan Agreement (Capital Maritime & Trading Corp.)

Normal interest rate. The Borrower Borrowers shall pay interest on each Advance or, or (as the case may be the Facility A Loan, or the Facility B Loan or be) the Loan in respect of each Interest Period relating thereto on each Interest Payment Date relating thereto (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 relevant 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, (b) the Additional Cost LIBOR for such Interest Period and (c) LIBOR for such Interest Periodthe Mandatory Cost, if any.

Appears in 1 contract

Sources: Senior Loan Agreement (FreeSeas Inc.)

Normal interest rate. The Borrower Borrowers shall pay interest on each Advance or, or (as the case may be the Facility A Loan, or the Facility B Loan or be) the Loan in respect of each Interest Period relating thereto on each Interest Payment Date relating thereto (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 relevant 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 and (b) the Additional Cost and (c) LIBOR for such Interest Period.

Appears in 1 contract

Sources: Junior Loan Agreement (FreeSeas Inc.)

Normal interest rate. The Borrower Borrowers shall pay accrued interest on each Advance or, as the case may be the Facility A Loan, or the Facility B Loan or 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 Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin, (b) the Additional Cost LIBOR for such Interest Period and (c) LIBOR for such Interest Periodthe Mandatory Cost, if any.

Appears in 1 contract

Sources: Loan Agreement (Golden Energy Marine Corp.)