Reduction of Interest Rate Sample Clauses

Reduction of Interest Rate. Advances made on or after August 1, 2015 (other than with respect to the App Deemed Advances, as defined below) shall accrue Regular Interest of nine and eight tenths percent (9.8%). For the avoidance of doubt, the Commitment Fee shall remain unchanged.
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Reduction of Interest Rate. Section 1.2.16 of the Agreement is amended only to reduce the interest rate from "Prime plus .50%" to "
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Reduction of Interest Rate. In Section 4.1 of the Note, the phrase "Nine and One-Quarter Percent (9 1/4%)" is hereby deleted and the phrase "Seven and One-Half Percent (7 1/2%)" is inserted therefore, such modification of Section 4.1 to be effective as of and from and after May 5, 2002.
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Reduction of Interest Rate. Upon the achievement of all of the following, the unpaid principal balance of the Loan shall bear interest at a fluctuating rate of interest equal to the Eurodollar Daily Rate plus two hundred (200) basis points per annum:
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Reduction of Interest Rate. Any provision in the Loan Documents to the contrary notwithstanding, provided that no Default or Event of Default shall have occurred and be continuing under the Credit Agreement, the Preferred Principal Balance of the Loan shall bear interest at a rate per annum equal to the interest rate otherwise provided in the Credit Agreement minus the Reduction Margin, provided, however, that the interest rate payable on the Preferred Principal Balance shall never be less than zero, and provided further that the principal balance of the Loan in excess of the Preferred Principal Balance shall continue to bear interest at the rate per annum provided in the Credit Agreement.
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Reduction of Interest Rate. Notwithstanding the foregoing, so long as (i) the Term Loan B shall have been paid in full and (ii) no Default or Event of Default shall have occurred and be continuing, for each period commencing on the date of the delivery to Agent and Lenders of the audited annual financial statements for the preceding Fiscal Year pursuant to Section 6.3(b) and ending on the date of the delivery to Agent and Lenders of the audited annual financial statements for the then current Fiscal Year pursuant to Section 6.3(b) (each such period, an "Adjusted Interest Period"), commencing with the delivery to Agent and Lenders of the audited annual financial statements for the Fiscal Year ending December 31, 2003, if the EBITDAP of Parent and its Subsidiaries for such preceding Fiscal Year is greater than the amount set forth below, then, subject to the proviso at the end of Section 2.6(a), the Base Rate Margin, the LIBOR Rate Margin, the Base Rate Term Loan A Margin, the LIBOR Rate Term Loan A Margin and the Letter of Credit Fee shall, for the Adjusted Interest Period, be equal to the percentage per annum set forth below: Base Rate LIBOR Rate Base Rate Term LIBOR Rate Term Letter of EBITDAP Margin Margin Loan A Margin Loan A Margin Credit Fee ----------- --------- ---------- -------------- --------------- ---------- $16,000,000 0.75% 4.00% 1.75% 4.00% 2.00% $18,000,000 0.50% 3.50% 1.25% 3.00% 1.50% CASH MANAGEMENT. Borrowers shall (i) establish and maintain cash management services of a type and on terms satisfactory to Agent at one or more of the banks set forth on Schedule 2.7(a) (each a "Cash Management Bank"), and shall request in writing and otherwise take such reasonable steps to ensure that all of its Account Debtors forward payment of the amounts owed by them directly to such Cash Management Bank, and (ii) deposit or cause to be deposited promptly, and in any event no later than the first Business Day after the date of receipt thereof, all Collections (including those sent directly by Account Debtors to a Cash Management Bank) into a bank account in Agent's name (a "Cash Management Account") at one of the Cash Management Banks. Each Cash Management Bank shall establish and maintain Cash Management Agreements with Agent and Borrowers, in form and substance acceptable to Agent. Each such Cash Management Agreement shall provide, among other things, that (i) all items of payment deposited in such Cash Management Account and proceeds thereof are held by such Cash Management Ba...
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Reduction of Interest Rate. Section 3(a) of Schedule A to the Loan -------------------------- Agreement is hereby amended and restated in its entirety to read as follows:
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Related to Reduction of Interest Rate

  • Determination of Interest Rate (a) The Applicable Interest Rate with respect to the Loan shall be: (i) LIBOR plus the Spread with respect to the applicable Interest Period for a LIBOR Loan or (ii) the Prime Rate plus the Prime Rate Spread for a Prime Rate Loan if the Loan is converted to a Prime Rate Loan pursuant to the provisions of Section 2.2.3(c) or Section 2.2.3(f).

  • Calculation of interest The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable:

  • Notification of Interest Periods and interest rate The Agent shall notify the Borrowers and the Banks promptly of the duration of each Interest Period and of each rate of interest (or, as the case may be default interest) determined by it under this clause 3.

  • Computation of Interest, Fees, Yield Protection All interest, as well as fees and other charges calculated on a per annum basis, shall be computed for the actual days elapsed, based on a year of 360 days. Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to amounts payable by Borrowers under Section 3.4, 3.6, 3.7, 3.9 or 5.9, submitted to Borrower Agent by Agent or the affected Lender, as applicable, shall be final, conclusive and binding for all purposes, absent manifest error, and Borrowers shall pay such amounts to the appropriate party within 10 days following receipt of the certificate.

  • Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

  • Determination of Interest (a) The Administrative Agent shall determine the Interest (including unpaid Interest related thereto, if any, due and payable on a prior Payment Date) to be paid by the Borrower on each Payment Date for the related Accrual Period and shall advise the Collateral Agent, the Collateral Manager and the Borrower thereof on the third Business Day prior to such Payment Date.

  • Selection of Interest Rate Options At any time any portion of this Note bears interest determined in relation to LIBOR, it may be continued by Borrower at the end of the Fixed Rate Term applicable thereto so that all or a portion thereof bears interest determined in relation to the Prime Rate or to LIBOR for a new Fixed Rate Term designated by Borrower. At any time any portion of this Note bears interest determined in relation to the Prime Rate, Borrower may convert all or a portion thereof so that it bears interest determined in relation to LIBOR for a Fixed Rate Term designated by Borrower. At such time as Borrower requests an advance hereunder or wishes to select a LIBOR option for all or a portion of the outstanding principal balance hereof, and at the end of each Fixed Rate Term, Borrower shall give Bank notice specifying: (i) the interest rate option selected by Borrower; (ii) the principal amount subject thereto; and (iii) for each LIBOR selection, the length of the applicable Fixed Rate Term. Any such notice may be given by telephone (or such other electronic method as Bank may permit) so long as, with respect to each LIBOR selection, (A) if requested by Bank, Borrower provides to Bank written confirmation thereof not later than three (3) Business Days after such notice is given, and (B) such notice is given to Bank prior to 10:00 a.m. on the first day of the Fixed Rate Term, or at a later time during any Business Day if Bank, at it’s sole option but without obligation to do so, accepts Borrower’s notice and quotes a fixed rate to Borrower. If Borrower does not immediately accept a fixed rate when quoted by Bank, the quoted rate shall expire and any subsequent LIBOR request from Borrower shall be subject to a redetermination by Bank of the applicable fixed rate. If no specific designation of interest is made at the time any advance is requested hereunder or at the end of any Fixed Rate Term, Borrower shall be deemed to have made a Prime Rate interest selection for such advance or the principal amount to which such Fixed Rate Term applied.

  • Section 310 Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

  • Determination of Interest Rate Basis The Calculation Agent shall determine the rate derived from each Interest Rate Basis in accordance with the following provisions.

  • Limitation of Interest It is the intention of each Borrower and Lender to conform strictly to applicable usury laws. Accordingly, if the transactions contemplated hereby would be usurious under applicable law, then, in that event, notwithstanding anything to the contrary in any Loan Document, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under applicable law that is taken, reserved, contracted for, charged or received under any Loan Document or otherwise in connection with the Loan shall under no circumstances exceed the maximum amount of interest allowed by applicable law, and any excess shall be credited to principal by Lender (or if the Loan shall have been paid in full, refunded to any Borrower); and (ii) in the event that maturity of the Loan is accelerated by reason of an election by Lender resulting from any default hereunder or otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest may never include more than the maximum amount of interest allowed by applicable law, and any interest in excess of the maximum amount of interest allowed by applicable law, if any, provided for in the Loan Documents or otherwise shall be cancelled automatically as of the date of such acceleration or prepayment and, if theretofore prepaid, shall be credited to principal (or if the principal portion of the Loan and any other amounts not constituting interest shall have been paid in full, refunded to any Borrower.) In determining whether or not the interest paid or payable under any specific contingency exceeds the maximum amount allowed by applicable law, Lender shall, to the maximum extent permitted under applicable law (a) exclude voluntary prepayments and the effects thereof, and (b) amortize, prorate, allocate and spread, in equal parts, the total amount of interest throughout the entire contemplated term of the Loan so that the interest rate is uniform throughout the entire term of the Loan; provided, that if the Loan is paid and performed in full prior to the end of the full contemplated term hereof, and if the interest received for the actual period of existence thereof exceeds the maximum amount allowed by applicable law, Lender shall refund to any Borrower the amount of such excess, and in such event, Lender shall not be subject to any penalties provided by any laws for contracting for, charging or receiving interest in excess of the maximum amount allowed by applicable law.

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