Payment of Interest on the Credit Extensions. (a) Interest Rate.
Payment of Interest on the Credit Extensions. Section 2.6 of the Loan Agreement is hereby amended by deleting it in its entirety and replacing it with the following:
Payment of Interest on the Credit Extensions. (a) Computation of Interest. Interest on the Credit Extensions and all fees payable hereunder shall be computed on the basis of a 360-day year and the actual number of days elapsed in the period during which such interest accrues. In computing interest on any Credit Extension, the date of the making of such Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.
Payment of Interest on the Credit Extensions. (a) Interest Rate Subject to Section 2.2(b), the principal amount outstanding under the Term Loan shall accrue interest at a fixed per annum rate equal to (a) for a Term Loan made on and prior to December 31, 2011, 8.85%, and (b) for a Term Loan made on and after January 1, 2012, the greater of (i) 8.85% and (ii) the LIBOR Rate plus the LIBOR Rate Margin, determined by Collateral Agent as of the Funding Date of the Term Loan, or (c) if less, the maximum rate permitted under applicable law, which interest shall be payable monthly in accordance with Section 2.2(e). Interest shall accrue on the Term Loan commencing on, and including, the day on which the Term Loan is made, and shall accrue on a Term Loan, or any portion thereof, for the day on which the Term Loan or such portion is paid.
Payment of Interest on the Credit Extensions. (a) Interest Rate (i) Advances. Subject to Section 2.3(b), Advances shall accrue interest at a per annum rate equal to, so long as the Senior Leverage Ratio as set forth in the most recent Compliance Certificate is less than 1.0:1.0, 0.75 percentage points below the Prime Rate, and if greater than 1.0:1.0, 0.50 percentage points below the Prime Rate, which interest shall be payable monthly.
Payment of Interest on the Credit Extensions. (a) Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per annum rate equal to the greater of (X) the aggregate of the Prime Rate plus one and three-fourths of one percent (1.75%) and (Y) seven percent (7.00%), which interest shall be payable monthly, in arrears, in accordance with Section 2.3(f) below.
Payment of Interest on the Credit Extensions. Section 2.3(a) is hereby amended and restated in its entirety as follows:
Payment of Interest on the Credit Extensions. (a) Each Loan shall, at Borrower’s option, in accordance with the terms of this Agreement, be either in the form of a Prime Rate Loan or a LIBOR Loan; provided that in no event shall Borrower maintain at any time LIBOR Loans having more than two (2) different Interest Periods.
Payment of Interest on the Credit Extensions. (a) Interest Rate; Formula Advances. Subject to Section 2.7(c), -------------- ----------------- the principal amount of the Formula Advances amounts outstanding under the Revolving Line shall accrue interest at a per annum rate equal to: (i) 1.50 percentage points above the Prime Rate, if a Streamline Period is not in effect; and (ii) 0.50 percentage points above the Prime Rate during any Streamline Period.
Payment of Interest on the Credit Extensions
