Common use of Ordinary Interest Clause in Contracts

Ordinary Interest. Borrower shall pay interest on the unpaid principal amount of the Term Loans, from the Closing Date until such principal amount shall be paid in full, at a rate per annum equal to the Applicable Rate. Interest shall be payable in arrears on the Maturity Date unless earlier converted in accordance with Article VIII hereof. Interest shall be computed on a year of 360 days and actual days elapsed in the period for which interest is payable. Interest (including the default interest set forth below) shall be due and payable before and after judgment or the commencement of any proceeding under any Debtor Relief Law.

Ordinary Interest. Borrower shall pay interest on the unpaid principal amount of the Term Loanseach Loan, from the Closing Date date of such Loan until such principal amount shall be paid in full, at a rate per annum equal to the Applicable Rate. Interest shall be , payable quarterly in arrears on the Maturity Date unless earlier converted in accordance with Article VIII hereofeach Interest Payment Date. Interest shall be computed on a year of 360 days and actual days elapsed in the period for which interest is payable. Interest (including the default interest set forth below) shall be due and payable before and after judgment or the commencement of any proceeding under any Debtor Relief Law.