Common use of Term Loan Cash Interest Rate Clause in Contracts

Term Loan Cash Interest Rate. In addition to interest accrued pursuant to the Term Loan PIK Interest Rate, the principal balance (including, for the avoidance of doubt, any payment-in-kind interest added to principal pursuant to Section 2.5(a)(ii)) of each Term Loan Advance shall bear interest thereon at the Term Loan Cash Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Term Loan Cash Interest Rate will float and change on the day the Prime Rate changes from time to time.

Appears in 1 contract

Samples: Loan and Security Agreement (Rocket Lab USA, Inc.)

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Term Loan Cash Interest Rate. In addition to interest accrued pursuant to the Term Loan PIK Interest Rate, the principal balance (including, for the avoidance of doubt, any payment-in-kind interest added to principal pursuant to Section 2.5(a)(ii)Capitalized PIK Interest thereon) of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan Cash Interest Rate based on a year consisting of 360 three hundred sixty (360) days, with interest computed daily based on the actual number of days elapsed. The Term Loan Cash Interest Rate will float and change on the day the Prime Rate changes from time to time.

Appears in 1 contract

Samples: Working Capital Facility Agreement (Heron Therapeutics, Inc. /De/)

Term Loan Cash Interest Rate. In addition to interest accrued pursuant to the Term Loan PIK Interest Rate, the principal balance (including, for the avoidance of doubt, any payment-in-kind interest added to principal pursuant to Section 2.5(a)(ii2.1(d)(ii)) of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan Cash Interest Rate based on a year consisting of 360 three hundred sixty (360) days, with interest computed daily based on the actual number of days elapsed. The Term Loan Cash Interest Rate will float and change on the day the Prime Rate changes from time to time.

Appears in 1 contract

Samples: Loan and Security Agreement (Bluebird Bio, Inc.)

Term Loan Cash Interest Rate. In addition to interest accrued pursuant to the Term Loan PIK Interest Ratein accordance with clause (c)(ii) below, the principal balance (including, for the avoidance of doubt, any payment-in-kind interest PIK Interest added to principal pursuant to Section 2.5(a)(ii2.2(c)(ii)) of each the Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan Cash Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Term Loan Cash Interest Rate will float and change on the day the Prime Rate prime rate changes from time to time.

Appears in 1 contract

Samples: Loan and Security Agreement (Petros Pharmaceuticals, Inc.)

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Term Loan Cash Interest Rate. In addition to interest accrued pursuant to the Term Loan PIK Interest Rate, the principal balance (including, for the avoidance of doubt, any payment-in-kind interest added to principal pursuant to Section 2.5(a)(ii2.2(d)(ii)) of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan Cash Interest Rate based on a year consisting of 360 three hundred sixty (360) days, with interest computed daily based on the actual number of days elapsed. The Term Loan Cash Interest Rate will float and change on the day the Prime Rate changes from time to time.

Appears in 1 contract

Samples: Loan and Security Agreement (COMPASS Pathways PLC)

Term Loan Cash Interest Rate. In addition to interest accrued pursuant to the Term Loan PIK Interest Rate, the principal balance outstanding from time to time (including, for the avoidance of doubt, any payment-in-kind interest after it has been added to principal pursuant to Section 2.5(a)(ii2.2(d)(ii)) of each Term Loan Advance shall bear interest thereon at the Term Loan Cash Interest Rate based on a year consisting of 360 three hundred sixty (360) days, with interest computed daily based on the actual number of days elapsed. The Term Loan Cash Interest Rate will float and change on the day the Prime Rate changes from time to time.

Appears in 1 contract

Samples: Loan and Security Agreement (enGene Holdings Inc.)

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