Common use of Interest Accrual Clause in Contracts

Interest Accrual. Interest on the principal amount outstanding shall accrue at a per annum rate equal to the three month LIBOR RATE plus 300 basis points on the Note Date referenced above and adjusting as provided for in the AGREEMENT, and at the three month LIBOR RATE plus 900 basis points from time to time after maturity, whether by acceleration or otherwise. Interest shall be calculated on the basis of a 360-day year, counting the actual number of days elapsed.

Appears in 4 contracts

Samples: Construction Loan Agreement (Rex Stores Corp), Construction Loan Agreement (Cardinal Ethanol LLC), Construction Loan Agreement (One Earth Energy LLC)

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Interest Accrual. Interest on the principal amount outstanding shall accrue at a per annum rate equal to based on the three month LIBOR RATE plus 300 basis points on the Note Date referenced above and adjusting from time to time until maturity as adjusted as provided for in the AGREEMENT, and at a rate equal to the three month LIBOR RATE plus 900 basis points from time to time after maturity, whether by acceleration or otherwise. Interest shall be calculated on the basis of a 360-day year, counting the actual number of days elapsed.

Appears in 2 contracts

Samples: Construction Loan Agreement (Rex Stores Corp), Construction Loan Agreement (One Earth Energy LLC)

Interest Accrual. Interest on the principal amount outstanding shall accrue based on the three month LIBOR RATE plus 310 basis points from time to time until maturity as provided for in the AGREEMENT, and at a per annum rate equal to the three month LIBOR RATE plus 300 basis points on the Note Date referenced above and adjusting as provided for in the AGREEMENT, and at the three month LIBOR RATE plus 900 910 basis points from time to time after maturity, whether by acceleration or otherwise. Interest shall be calculated on the basis of a 360-day year, counting the actual number of days elapsed.

Appears in 2 contracts

Samples: Construction Loan Agreement (One Earth Energy LLC), Construction Loan Agreement (Rex Stores Corp)

Interest Accrual. Interest on the principal amount outstanding shall accrue at a per annum rate equal to based on the three three-month LIBOR RATE Rate plus 300 basis points on the Note Date referenced above and adjusting as provided for in the AGREEMENTprior to acceleration or maturity, and at the three month LIBOR RATE plus 900 600 basis points in excess of the LIBOR Rate in effect from time to time after maturity, whether by acceleration or otherwise. Interest shall be calculated on the basis of a 360-day year, counting the actual number of days elapsed.

Appears in 1 contract

Samples: Loan Agreement (Granite Falls Community Ethanol Plant LLC)

Interest Accrual. Interest on the principal amount outstanding shall accrue at a per annum rate equal to based on the three month LIBOR RATE plus 300 basis points on the Note Date referenced above and adjusting from time to time until maturity as provided for in the AGREEMENT, and at a rate equal to the three month LIBOR RATE plus 900 basis points from time to time after maturity, whether by acceleration or otherwise. Interest shall be calculated on the basis of a 360-day year, counting the actual number of days elapsed.

Appears in 1 contract

Samples: Construction Loan Agreement (Cardinal Ethanol LLC)

Interest Accrual. Interest on the principal amount outstanding shall accrue at based on a per annum rate equal to the three month LIBOR RATE plus 300 +340 basis points on the Note Date referenced above and adjusting as provided for in the AGREEMENTfrom time to time until maturity, and at the three month LIBOR RATE plus 900 six hundred (600) basis points in excess of said aggregate interest rate from time to time after maturity, whether by acceleration or otherwise. Interest shall be calculated on the basis of a 360-day year, counting the actual number of days elapsed.

Appears in 1 contract

Samples: Construction Loan Agreement (Red Trail Energy, LLC)

Interest Accrual. Interest on the principal amount outstanding shall accrue at based on a per annum rate equal to the three one month LIBOR RATE plus 300 +340 basis points on the Note Date referenced above and adjusting as provided for in the AGREEMENTfrom time to time until maturity, and at the three month LIBOR RATE plus 900 six hundred (600) basis points in excess of said aggregate interest rate from time to time after maturity, whether by acceleration or otherwise. Interest shall be calculated on the basis of a 360-day year, counting the actual number of days elapsed.

Appears in 1 contract

Samples: Construction Loan Agreement (Red Trail Energy, LLC)

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Interest Accrual. Interest on the principal amount outstanding shall accrue at until maturity and be fixed based on a per annum rate equal to the three month LIBOR RATE plus 300 +300 basis points on the Note Date referenced above and adjusting as provided for in the AGREEMENTDate, and at the three month LIBOR RATE plus 900 six hundred (600) basis points in excess of said aggregate interest rate from time to time after maturity, whether by acceleration or otherwise. Interest shall be calculated on the basis of a 360-day year, counting the actual number of days elapsed.

Appears in 1 contract

Samples: Construction Loan Agreement (Red Trail Energy, LLC)

Interest Accrual. Interest on the principal amount outstanding shall accrue at a per annum rate equal to based on the three one month LIBOR RATE plus 300 basis points on the Note Date referenced above and adjusting from time to time until maturity as adjusted as provided for in the AGREEMENT, and at a rate equal to the three one month LIBOR RATE plus 900 basis points from time to time after maturity, whether by acceleration or otherwise. Interest shall be calculated on the basis of a 360-day year, counting the actual number of days elapsed.

Appears in 1 contract

Samples: Construction Loan Agreement (Cardinal Ethanol LLC)

Interest Accrual. Interest on the principal amount outstanding shall accrue at a per annum rate equal to the three month LIBOR RATE plus 300 three hundred (300) basis points on the Note Date referenced above and adjusting as provided for in the AGREEMENTpoints, and at the three month LIBOR RATE plus 900 six hundred (600) basis points in excess of said aggregate interest rate from time to time after maturity, whether by acceleration or otherwise. Interest shall be calculated on the basis of a 360-day year, counting the actual number of days elapsed.

Appears in 1 contract

Samples: Red Trail Energy, LLC

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