On Swing Loans Sample Clauses
On Swing Loans. Interest on each Swing Loan shall be computed on the basis of a hypothetical year of three hundred sixty (360) days for the actual number of days elapsed and shall be payable quarterly in arrears on the last day of each calendar quarter for such calendar quarter. Interest on Swing Loans then outstanding shall also be due and payable on the Maturity Date (or the date of any earlier prepayment in full of the Obligations). Interest shall accrue and be payable on each Swing Loan at the Swing Rate.
On Swing Loans. Interest on each Swing Loan shall be computed for the actual number of days elapsed on the basis of a 365/366 day year and shall be payable quarterly in arrears on the last day of each calendar quarter for such calendar quarter, commencing with the first calendar quarter beginning after the Agreement Date. Interest on Swing Loans then outstanding shall also be due and payable on the Maturity Date (or the date of any earlier prepayment in full of the Obligations arising under this Agreement and the other Loan Documents). Interest shall accrue and be payable on each Swing Loan at the Swing Rate.
On Swing Loans. Interest on Swing Loans shall accrue at the simple per annum interest rate equal to the sum of (i) the Base Rate, and (ii) the applicable Interest Rate Margin in effect for Base Rate Advances from time to time. Interest on Swing Loans shall be computed for the actual number of days elapsed on the basis of a hypothetical year of 360 days and shall be payable on the earliest of (A) demand by the Swing Bank, (B) in arrears on the first day of each month, commencing on February 1, 2000, and (C) the Maturity Date.