Common use of Prime-based Interest Payments Clause in Contracts

Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of the Revolving Credit and all Swing Line Advances carried at the Prime-based Rate from time to time outstanding shall accrue from the date of such Advance to the date repaid, at a per annum interest rate equal to the Prime-based Rate, and shall be payable in arrears in immediately available funds commencing on the first Business Day of July, 2007, and on the first Business Day of each October, January, April and July thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.

Appears in 1 contract

Sources: Revolving Credit Agreement (Multimedia Games Inc)

Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of the Revolving Credit and all Swing Line Advances carried at the Prime-based Rate from time to time outstanding shall accrue from the date of such Advance Advances to the date repaidRevolving Credit Maturity Date (and until paid), at a per annum interest rate equal to the Prime-based Rate, and shall be payable in arrears in immediately available funds quarterly commencing on the first Business Day day of July, 2007, the calendar quarter next succeeding the calendar quarter during which the initial Advance is made and on the first Business Day day of each October, January, April and July calendar quarter thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Primebased Rate.

Appears in 1 contract

Sources: Revolving Credit Agreement (Renters Choice Inc)

Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of the Revolving Line of Credit and all Swing Line Advances carried at the Prime-based Rate from time to time outstanding shall accrue from the date of such Advance to the date repaidLine of Credit Maturity Date (and until paid), at a per annum interest rate equal to the Prime-based Rate, and shall be payable in arrears in immediately available funds quarterly commencing on the first Business Day day of July, 2007, the calendar quarter next succeeding the calendar quarter during which the initial Advance hereunder is made and on the first Business Day day of each October, January, April and July calendar quarter thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.

Appears in 1 contract

Sources: Revolving Credit Agreement (Credit Acceptance Corporation)

Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of the Revolving Credit and all Swing Line Advances carried at the Prime-based Rate from time to time outstanding shall accrue from the date of such Advance Advances to the date repaidRevolving Credit Maturity Date (and until paid), at a per annum interest rate equal to the Prime-based Rate, and shall be payable in arrears in immediately available funds monthly commencing on the first Business Day day of July, 2007, the month next succeeding the month during which the initial Advance is made and on the first Business Day day of each October, January, April and July month thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.

Appears in 1 contract

Sources: Credit Agreement (Jpe Inc)

Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of the Revolving Credit and all Swing Line Advances carried at the Prime-based Rate from time to time outstanding shall accrue from the date of such Advance Advances to the date repaidRevolving Credit Maturity Date or Line of Credit Maturity Date, as applicable (and until paid), at a per annum interest rate equal to the Prime-based Rate, and shall be payable in arrears in immediately available funds monthly commencing on the first Business Day day of July, 2007, the month next succeeding the month during which the initial Advance is made and on the first Business Day day of each October, January, April and July month thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate." 21. Section 8.4 of the Agreement is amended to read as follows:

Appears in 1 contract

Sources: Credit Agreement (Jpe Inc)

Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of the Revolving Credit and all Swing Line Advances carried at the Prime-based Rate from time to time outstanding shall accrue from the date of such Advance Advances to the date repaidRevolving Credit Maturity Date (and until paid), at a per annum interest rate equal to the Prime-based Rate, and shall be payable in arrears in immediately available funds quarterly commencing on the first Business Day day of July, 2007, the calendar quarter next succeeding the calendar quarter during which the initial Advance is made and on the first Business Day day of each October, January, April and July calendar quarter thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.

Appears in 1 contract

Sources: Credit Agreement (Mce Companies Inc)

Prime-based Interest Payments. Interest on the unpaid balance of all Prime-based Advances of the Revolving Credit and all Swing Line Advances carried at the Prime-based Rate from time to time outstanding shall accrue from the date of such Advance Advances to the date repaidRevolving Credit Maturity Date (and until paid), at a per annum interest rate equal to the Prime-Prime- based Rate, and shall be payable in arrears in immediately available funds quarterly commencing on the first Business Day day of July, 2007, the calendar quarter next succeeding the calendar quarter during which the initial Advance is made and on the first Business Day day of each October, January, April and July calendar quarter thereafter. Interest accruing at the Prime-based Rate shall be computed on the basis of a 360 day year and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Prime-based Rate on the date of such change in the Prime-based Rate.

Appears in 1 contract

Sources: Revolving Credit Agreement (Alrenco Inc)