Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, each Base Rate Loan shall bear interest on the outstanding principal amount thereof for each day until paid at an annual rate equal to the Adjusted Base Rate. So long as any Event of Default has occurred and is continuing, each Base Rate Loan shall bear interest on the outstanding principal amount thereof for each until it is paid, at an annual rate equal to Five Percent (5%) over and above the Adjusted Base Rate. Such interest shall be payable monthly in arrears on the last day of each calendar month commencing October 31, 2009 and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each Base Rate Loan shall bear interest, payable on demand, for each day until paid at an annual rate equal to Five Percent (5%) over and above the Adjusted Base Rate.
Interest Rates and Interest Payments. The Company covenants and agrees to make payments to the Purchasers of accrued interest on the Notes on December 31, 2005. The Notes will bear interest on the outstanding principal amount thereof at a fixed rate equal to 6% per annum. Interest on the Notes will be computed on the basis of a year of 360 days, composed of 12, 30-day months, and the actual number of days elapsed.
Interest Rates and Interest Payments. (a) So long as no Event of Default has occurred and is continuing, each Daily LIBOR Loan shall bear interest on the outstanding principal amount thereof for each day until paid at an annual rate equal to the Daily LIBOR Rate. So long as any Event of Default has occurred and is continuing, each Daily LIBOR Loan shall bear interest on the outstanding principal amount thereof for each until it is paid, at an annual rate equal to Five Percent (5%) over and above the Daily LIBOR Rate. Such interest shall be payable monthly in arrears on the last day of each calendar month commencing October 31, 2010 and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each Daily LIBOR Loan shall bear interest, payable on demand, for each day until paid at an annual rate equal to Five Percent (5%) over and above the Daily LIBOR Rate.
Interest Rates and Interest Payments. Section 2.3 of the Financing Agreement is amended in its entirety as follows:
Interest Rates and Interest Payments. So long as no Event of Default has occurred and is continuing, the Revolving Credit Loan shall bear interest on the outstanding principal amount thereof, for each day from the date such Revolving Credit Loan is made until it becomes due, at the Interest Rate. So long as any Event of Default has occurred and is continuing, the Revolving Credit Loan shall bear interest on the outstanding principal amount thereof, at a per annum rate equal to the Prime Rate plus five percent (5%). Such interest shall be payable monthly in arrears on the thirtieth (30th) day of each month, commencing on the later of April 30, 2004, and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, the Revolving Credit Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to the Prime Rate plus five percent (5%). Interest shall be computed on the basis of a year of 360 days and paid for the actual number of days elapsed.
Interest Rates and Interest Payments. (a) The Note will accrue interest on the outstanding principal amount thereof at a rate equal to fourteen percent (14.00%) per annum. Interest on the Note will be computed for the actual number of days elapsed on the basis of a year of three hundred sixty (360) days. Interest will be paid in cash monthly in arrears on the last day of each calendar month, with the first interest payment due and payable on April 30, 2012.
Interest Rates and Interest Payments. Interest shall accrue on the unpaid balance of the Obligations at a floating rate per annum equal to the sum of the Reference Rate plus three percent (3%) (the "Applicable Rate") and shall be due and payable monthly in arrears on the last day of each calendar month; provided, however, that upon the occurrence and during the continuance of any Event of Default, the unpaid balance of the loans and advances shall thereafter bear interest at a floating rate equal to the sum of (a) the Applicable Rate, plus (b) 2% and shall be due and payable on demand; and provided further that the minimum amount of interest due and payable in any month shall not be less than the sum of $1,000,000 multiplied by the Applicable Rate during such period.
Interest Rates and Interest Payments. (a) So long as no ------------------------------------ Event of Default has occurred and is continuing, each Prime Loan shall bear interest on the outstanding principal amount thereof for each day until paid at a rate per annum equal to the Prime Rate. So long as any Event of Default has occurred and is continuing, each Prime Loan shall bear interest on the outstanding principal amount thereof for each until it is paid, at a rate per annum equal to Five Percent (5%) over and above the Prime Rate. Such interest shall be payable monthly in arrears on the last day of each calendar month commencing June 30, 2002 and at the maturity of the Note (whether by reason of acceleration or otherwise). From and after the maturity of the Note, whether by reason of acceleration or otherwise, each Prime Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to Five Percent (5%) over and above the Prime Rate.
Interest Rates and Interest Payments. The Company covenants and agrees to make payments to the Noteholders, of accrued interest on the Notes on each Interest Payment Date in accordance with the following. The Notes will bear interest on the outstanding principal amount thereof at a rate equal to fourteen percent (14%) per annum from the Closing Date through and including September 15, 2006, and at a rate equal to sixteen percent (16%) per annum after September 15, 2006. The Company shall pay the portion of accrued interest in respect of the Notes equal to fourteen percent (14%) per annum, in cash on each Interest Payment Date. The Company shall pay any additional portion of accrued interest in respect of the Notes in excess of fourteen percent (14%) per annum by adding such amount to the outstanding principal amount of the Notes on each Interest Payment Date, it being understood, however, that if the Senior Credit Agreement expressly permits the payment of such additional portion of accrued interest in cash, the Company shall pay such accrued interest in cash. Any relevant Noteholder may request the issuance of additional Notes or to reflect such additional principal amount, but absent manifest error, the records of such Noteholder regarding the amount of such additional principal shall be deemed to be true and accurate even if additional Notes shall not have been issued to evidence the same. Interest on the Notes will be computed on the basis of a year of 360 days, composed of twelve 30-day months, and the actual number of days elapsed. Upon the occurrence and during the continuation of any Event of Default, the outstanding principal amount of all Notes and, to the extent permitted by applicable law, any interest payments thereon not paid when due and any fees and other amounts then due and payable hereunder, shall thereafter bear interest (including post-petition interest in any proceeding under the Bankruptcy Code or other applicable bankruptcy laws) payable upon demand at a rate that is 2% per annum in excess of the interest rate otherwise payable under this Agreement with respect to the Notes. Payment or acceptance of the increased rates of interest provided for in this Section 3.01 is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Agent or any Noteholder.
Interest Rates and Interest Payments. Section 3.1 of the Agreement is hereby modified and amended by deleting it in its entirety and inserting in its place the following:
