Base Rate Margin means one-half of one percentage point (0.5%) from the Closing Date until the date on which financial statements are required to be delivered for the fiscal period ending June 30, 2002. On each date on which financial statements are timely delivered under Section 6.3(a), beginning with the delivery of financial statements for the fiscal quarter ending June 30, 2002, the Base Rate Margin shall be reset to be a number of percentage points depending on Borrower's EBITDA for the prior 12 months, measured quarterly, as set forth below:
Any amount not reimbursed on the date of such payment or disbursement shall bear interest from the date of such payment or disbursement to the date that the Issuing Lender is reimbursed by the Company therefor, payable on demand, at a rate per annum equal to the Base Rate from time to time in effect plus the Base Rate Margin from time to time in effect plus, beginning on the third Business Day after receipt of notice from the Issuing Lender of such payment or disbursement, 2%.
From and following the Closing Date, the Loans and the other Obligations shall bear interest at the sum of the Base Rate plus the applicable Base Rate Margin.
Overdue principal and (to the extent permitted by applicable law) interest on the Loans and all other overdue amounts payable hereunder or under any of the other Loan Documents shall bear interest compounded monthly and payable on demand at a rate per annum equal to the Base Rate plus the Applicable Base Rate Margin plus two (2) percentage points (2.00%) until such amount shall be paid in full (after, as well as before, judgment).
Applicable Base Rate Margin means, on any day, a rate per annum equal to the higher of (a) the Applicable Eurocurrency Margin for such day minus 1.00% and (b) 0.00%.
Alternate Base Rate Margin has the meaning specified in subsection 2.2A.
More definitions of Base Rate Margin
Base Rate Margin means two hundred twenty-five (225) basis points per annum.