Minimum Interest. In no event shall the rate of interest chargeable hereunder for any day be less than 7.0% per annum. To the extent that interest accrued hereunder at the rate set forth herein would be less than the foregoing minimum daily rate, the interest rate chargeable hereunder for such day automatically shall be deemed increased to the minimum rate.
Appears in 8 contracts
Sources: Loan and Security Agreement (Banyan Systems Inc), Loan and Security Agreement (Samuels Jewelers Inc), Loan and Security Agreement (Intergraph Corp)
Minimum Interest. In no event shall the rate of interest chargeable hereunder for any day be less than 7.07.00% per annum. To the extent that interest accrued hereunder at the rate set forth herein would be less than the foregoing minimum daily rate, the interest rate chargeable hereunder for such day automatically shall be deemed increased to the minimum rate.
Appears in 7 contracts
Sources: Loan and Security Agreement (Multigraphics Inc), Loan and Security Agreement (K Tel International Inc), Loan and Security Agreement (Oneita Industries Inc)
Minimum Interest. In no event shall the rate of interest chargeable hereunder for any day be less than 7.07% per annum. To the extent that interest accrued hereunder at the rate set forth herein would be less than the foregoing minimum daily rate, the interest rate chargeable hereunder for such day automatically shall be deemed increased to the minimum rate.
Appears in 6 contracts
Sources: Loan and Security Agreement (Family Restaurants), Loan and Security Agreement (Mountasia Entertainment International Inc), Loan and Security Agreement (Stormedia Inc)
Minimum Interest. In no event shall the rate of interest chargeable hereunder for any day be less than 7.09.00% per annum. To the extent that interest accrued hereunder at the rate set forth herein would be less than the foregoing minimum daily rate, the interest rate chargeable hereunder for such day automatically shall be deemed increased to the minimum rate.
Appears in 3 contracts
Sources: Loan and Security Agreement (Childrens Broadcasting Corp), Loan and Security Agreement (Childrens Broadcasting Corp), Loan and Security Agreement (Childrens Broadcasting Corp)
Minimum Interest. In no event shall the rate of interest chargeable hereunder under Section 2.6(a) for any day be less than 7.08% per annum. To the extent that interest accrued hereunder at the rate set forth herein in such section would be less than the foregoing minimum daily rate, the interest rate chargeable hereunder for such day automatically shall be deemed increased to the minimum rate.
Appears in 2 contracts
Sources: Loan and Security Agreement (Petsec Energy Inc), Loan and Security Agreement (Ram Energy Inc/Ok)
Minimum Interest. In no event shall the rate of interest chargeable hereunder for any day be less than 7.0% eight percent (8%) per annum. To the extent that interest accrued hereunder at the rate set forth herein would be less than the foregoing minimum daily rate, the interest rate chargeable hereunder for such day automatically shall be deemed increased to the minimum rate.
Appears in 2 contracts
Sources: Loan and Security Agreement (Areawide Cellular Inc), Loan and Security Agreement (Interiors Inc)
Minimum Interest. In no event shall the rate of interest chargeable against the Daily Balance hereunder for any day be less than 7.010.75% per annum. To the extent that interest accrued hereunder at the rate set forth herein would be less than the foregoing minimum daily rate, the interest rate chargeable hereunder for such day automatically shall be deemed increased to the minimum rate.
Appears in 1 contract
Sources: Loan and Security Agreement (Phonetel Technologies Inc)