Interest Rates Rates Payments and Calculations. (a) Subject to the provisions of Section 2.5(b), interest on the outstanding principal balance of the Loans will accrue at a rate per annum equal to the LIBOR Rate plus 6.0%. All calculations of interest shall be computed on a 30/360 Basis.
Interest Rates Rates Payments and Calculations. (a) Interest Rates. Except as provided in clause (b) below and Section 2.11(b) hereof, all Obligations (except for Bank Product Obligations not charged to the Loan Account) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to the lesser of (i) the LIBOR Rate plus the Applicable Margin or (ii) the maximum rate of interest allowable by Applicable Laws; provided, that following notice to Borrower in accordance with Section 2.11(b) hereof, all Obligations that have been charged to the Loan Account pursuant to the terms hereof shall bear interest on the Daily Balance thereof at a per annum rate equal to the Base Rate plus the Applicable Margin.
Interest Rates Rates Payments and Calculations
