Definition of Term Loan B Interest Rate


Term Loan B Interest Rate means, for any day, (i) for the period commencing on the Closing Date and continuing through but not including the first anniversary of the Closing Date, fourteen and one half percent (14.5%) per annum, (ii) for the period commencing on the date which is the first anniversary of the Closing Date and continuing through but not including the second anniversary of the Closing Date, twenty and one half percent (20.5%) per annum, and (iii) thereafter, seventeen and one half percent (17.5%) per annum.
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Examples of Term Loan B Interest Rate in a sentence

The principal balance of the Term Loan B Advance shall bear interest thereon from such Advance Date at the Term Loan B 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 B Interest Rate will float and change on the day the Prime Rate changes from time to time.
Except as otherwise provided in this Section 2.3(b), the principal amount of Term Loan B outstanding from time to time shall bear interest at the Term Loan B Interest Rate.
Interest Rate means either the Term Loan A Interest Rate or the Term Loan B Interest Rate, as applicable.
The principal balance of each Term Loan B Advance shall bear interest thereon from such Advance Date at the Term Loan B Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.