Promissory Notes; Interest on the Notes Sample Clauses

Promissory Notes; Interest on the Notes. The obligation of the Borrower to repay the Loans made by the Lenders, together with interest accruing in connection therewith, shall be evidenced by a Note payable to the order of each Lender. Interest on the Notes shall be due and payable as provided herein and therein. The entire Loan Balance and all accrued and unpaid interest thereon shall be finally due and payable on the Drawdown Termination Date.
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Promissory Notes; Interest on the Notes. The obligation of the Borrower to repay the Loans made by the Lenders, together with interest accruing in connection therewith, shall be evidenced by a Note payable to the order of each Lender. Interest shall accrue on the unpaid balance of the Loans at an interest rate per annum equal to Adjusted Floating LIBOR and shall be payable on the fifteenth day of each calendar month, beginning May 15, 2010. Interest on the Notes shall be due and payable as provided herein and therein. The entire Loan Balance and all accrued and unpaid interest thereon shall be finally due and payable on the Drawdown Termination Date.
Sample 1
Promissory Notes; Interest on the Notes. The Loans made by each Lender pursuant to Section 2.01(a), (b), (c) or (d) shall be evidenced by a Note payable to the order of such Lender. The Swing-Line Loans made by Guaranty Federal pursuant to Section 2.01(e) shall be evidenced by the Swing-Ling Note. Each Lender's Loans (exclusive of any past due principal) from time to time outstanding shall bear interest on each day outstanding at the Applicable Rate in effect on such day; provided, however, that the portion of such Lender's Loans which is equal to the Balance Funded Amount for such Lender computed for the immediately preceding Balance Calculation Period, shall bear interest on each day outstanding at the Balance Funded Rate. Each Lender which has any Balance Funded Amount for any Balance Calculation Period shall provide Agent written notice of such Balance Funded Amount not later than two Business Days after the end of such Balance Calculation Period, and Agent shall be entitled to rely on the accuracy of such notice in calculating the interest accrued for such Balance Calculation Period. For any Lender which has a Balance Funded Amount, the Balance Funded Rate shall apply first to such Lender's Tranche D Loans, second to such Lender's Tranche C Loans, third to such Lender's Unadjusted Tranche B Portion, fourth to such Lender's Unadjusted Tranche A Portion, fifth to such Lender's Adjusted Tranche B Portion, and last to such Lender's Adjusted Tranche A Portion. All past due principal of and past due interest on each Lender's Loans shall bear interest on each day at the Late Payment Rate in effect on such day.
Sample 1
Promissory Notes; Interest on the Notes. The obligation of Borrower to repay the Loans made by Lenders, together with interest accruing in connection therewith, shall be evidenced by a Note payable to the order of each Lender in the amount of such Lender’s Commitment. Interest on the Notes shall be due and payable as provided herein and therein. The entire Loan Balance and all accrued and unpaid interest thereon shall be finally due and payable on the Drawdown Termination Date. Interest on each Loan shall accrue at a rate per annum equal to the lesser of (a) the sum of LIBOR, floating daily, plus the Applicable Margin, or (b) the Prime Rate. Interest on the Notes shall be calculated on the basis of the actual days elapsed but computed as if each year consisted of 360 days, subject to the provisions hereof limiting interest to the Maximum Rate, which Maximum Rate shall be calculated on the basis of actual days elapsed computed on the basis of a 365/366 day year, as applicable. All accrued but unpaid interest shall be payable in arrears on the fifteenth (15th) day of the succeeding month. After an Event of Default, at the option of Required Lenders, interest shall accrue on the outstanding principal balance of the Notes at a rate per annum equal to the lesser of (x) the Default Rate or (y) the Maximum Rate. All calculations of interest shall be on the basis of the actual days elapsed but computed as if each year consisted of 360 days, except that calculations of interest based on the Maximum Rate shall be computed on a 365/366 day year, as applicable.
Sample 1
Promissory Notes; Interest on the Notes. The Loans made by --------------------------------------- each Lender pursuant to this Article II shall be evidenced by a Note payable to the order of such Lender. Each Lender's Loans (exclusive of any past due principal) from time to time outstanding shall bear interest on each day outstanding at the Applicable Rate in effect on such day; provided, however, that the portion of such Lender's Loans which is equal to the Balance Funded Amount for such Lender computed for the immediately preceding Balance Calculation Period, shall bear interest on each day outstanding at the Balance Funded Rate. All past due principal of and past due interest on each Lender's Loans shall bear interest on each day at the Late Payment Rate in effect on such day.
Sample 1

Related to Promissory Notes; Interest on the Notes

  • Payments on the Notes Payments on the Notes that are to be made from amounts withdrawn from the Bank Accounts will be made on behalf of the Issuer by the Indenture Trustee or a Note Paying Agent. No amounts withdrawn for payments on the Notes may be paid over to the Issuer, except as stated in this Section 3.3.

  • Interest on the Loans A. RATE OF INTEREST. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or the Adjusted Eurodollar Rate. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by Company initially at the time a Notice of Borrowing is given (or telephonic notice followed by a Notice of Borrowing) with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate.

  • Interest on the Loan Interest on the Loan shall accrue as set forth in the Note.

  • Payment of Interest on the Credit Extensions (a) Interest Rate.

  • Interest Payment Dates; Interest and Fee Basis Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which such Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest and commitment fees shall be calculated for actual days elapsed on the basis of a 360-day year, except that interest calculated based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

  • Interest on Amounts Paid Under Letters of Credit (i) Payment of Interest by Company. Company agrees to pay to each Issuing Lender, with respect to drawings honored under any Letters of Credit issued by it, interest on the amount paid by such Issuing Lender in respect of each such honored drawing from the date such drawing is honored to but excluding the date such amount is reimbursed by Company (including any such reimbursement out of the proceeds of Revolving Loans pursuant to subsection 3.3B) at a rate equal to (a) for the period from the date such drawing is honored to but excluding the Reimbursement Date, the rate then in effect under this Agreement with respect to Revolving Loans that are Base Rate Loans and (b) thereafter, a rate which is 2% per annum in excess of the rate of interest otherwise payable under this Agreement with respect to Revolving Loans that are Base Rate Loans. Interest payable pursuant to this subsection 3.3D(i) shall be computed on the basis of a 360-day year for the actual number of days elapsed in the period during which it accrues and shall be payable on demand or, if no demand is made, on the date on which the related drawing under a Letter of Credit is reimbursed in full.

  • Date and Denomination of Notes; Payments of Interest and Defaulted Amounts (a) The Notes shall be issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof. Each Note shall be dated the date of its authentication and shall bear interest from the date specified on the face of such Note. Accrued interest on the Notes shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month.

  • Computation of Interest on Debt Securities Interest, if any, on the Debt Securities shall be computed on the basis of a 360-day year of twelve 30-day months, except as may otherwise be provided pursuant to Section 2.03.

  • Methods of Receiving Payments on the Notes If a Holder of Notes has given wire transfer instructions to the Company, the Company shall pay all principal, interest and premium and Liquidated Damages, if any, on that Holder's Notes in accordance with those instructions. All other payments on Notes shall be made at the office or agency of the Paying Agent and Registrar within the City and State of New York unless the Company elects to make interest payments by check mailed to the Holders at their addresses set forth in the register of Holders.

  • Interest and Interest Rate (a) The Designated Securities will bear interest from April [•], 2010 or from the most recent date through which the Issuer has paid or provided for interest on the Designated Securities at an annual rate of 3.729%.

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