Common use of Prime Rate Advances Clause in Contracts

Prime Rate Advances. Each Prime Rate Advance bears interest at a rate per annum equal to the Prime Rate in effect from time to time, plus the Applicable Margin. Such interest is payable monthly, in arrears, on each Interest Payment Date and, to the extent such Prime Rate Advance is then outstanding, on the Final Maturity Date (whether by acceleration or otherwise).

Appears in 1 contract

Sources: Credit Agreement (Theratechnologies Inc.)

Prime Rate Advances. Each The unpaid principal amount of each Prime Rate Advance bears shall bear interest prior to maturity at a rate per annum equal to the Prime Rate in effect from time to time, plus the Applicable Margin. Such interest is payable monthly, in arrears, on each Interest Payment Date and, to the extent such Prime Rate Advance is then outstanding, on the Final Maturity Date (whether by acceleration or otherwise)per annum.

Appears in 1 contract

Sources: Credit Agreement (American Equity Investment Life Holding Co)

Prime Rate Advances. Each Subject to Section 2.05(b), the unpaid principal of each Prime Rate Advance bears shall bear interest from the date of advance until paid at a rate per annum equal to that from day‑to‑day equals the lesser of: (a) the Prime Rate in effect from time to timeday‑to‑day, plus the Applicable Margin. Such interest is payable monthly, in arrears, on each Interest Payment Date and, to Margin (determined under Section 2.05(d)) or (b) the extent such Prime Rate Advance is then outstanding, on the Final Maturity Date (whether by acceleration or otherwise)Maximum Rate.

Appears in 1 contract

Sources: Revolving Credit Agreement (Alamo Group Inc)

Prime Rate Advances. Each The unpaid principal amount of each Prime Rate Advance bears shall bear interest at a rate per annum equal to the Prime Rate in effect from time to time, time plus the Applicable Margin. Such interest is payable monthly, in arrears, on each Interest Payment Date and, to the extent such Prime Rate Advance is then outstanding, on the Final Maturity Date (whether by acceleration or otherwise).

Appears in 1 contract

Sources: Loan and Security Agreement (Pemstar Inc)

Prime Rate Advances. Each The unpaid principal amount of each Prime Rate Advance bears shall bear interest prior to maturity at a rate per annum equal to the Prime Rate in effect from time to time, plus the Applicable Margin. Such interest is payable monthly, in arrears, on each Interest Payment Date and, to the extent such Prime Rate Advance is then outstanding, on the Final Maturity Date (whether by acceleration or otherwise).

Appears in 1 contract

Sources: Credit Agreement (Chronimed Inc)