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Interest Rate
Interest Rate contract clause examples
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Interest Rate. Except as set forth in [Section 2.3(b)], the Advances under shall bear interest, on the outstanding Daily Balance thereof, at a rate equal to the Applicable Margin plus the LIBOR Rate.

Subject to Section 2.3(b), the principal amount outstanding under each Term Loan shall accrue interest at a per annum rate equal to the LIBOR Rate plus seven and one-half percent (7.50%) per annum (the “Term Loan Rate”), which interest shall be payable quarterly in arrears in accordance with this Section 2.3.

Interest Rate. Subject to [Section 2.4(c)], the Borrower shall pay interest (including interest accruing after the commencement of an insolvency proceeding under applicable Bankruptcy Law) on the unpaid principal amount of each Loan from the date of the funding of such Loan until the Loan Maturity Date at the Applicable Interest Rate.

Interest Rate. From and following the Effective Date of this Amendment, depending upon Borrower’s election from time to time, subject to the terms hereof, to have portions of the Loans accrue interest determined by reference to the Alternate Base Rate or Term SOFR. The Loans and the other Obligations shall bear interest at the applicable rates set forth below:

Interest Rate. The unpaid principal balance of the Loan shall accrue interest at the Fixed Rate. All interest accruing under the Loan Documents will be calculated on the basis of a 360-day year applied to the actual number of days in each month. Borrower shall make each payment which it owes under the Loan Documents on or before the Payment Deadline pursuant to Section 2.5 in immediately available Dollars without setoff, counterclaim or other deduction.

. The Principal Indebtedness shall bear interest at the rate of four and sixty-three hundredths percent (4.63%) per annum (the “Interest Rate”), computed on the basis of a three hundred sixty (360) day year composed of twelve (12) months of thirty (30) days each; provided, however, interest for partial months (including the Stub Interest Period) shall be calculated by multiplying the Principal Indebtedness by the Interest Rate, dividing the product by three hundred sixty (360), and multiplying that result by the actual number of days elapsed during such period.

Interest Rate. Disbursements hereunder shall bear interest at the sum of # the Prime rate as reported in the Wall Street Journal (the "Prime Rate"), and # one percent (1.00%). In order to account for any changes in the Prime Rate, the interest rate shall be adjusted monthly on the first Business Day of each month until the Loan is repaid in full, retroactive to the first calendar day of such month through and including the last calendar day of such month or as otherwise noted in the Accounting Record for the Borrower and Lender at the time a Disbursement is made or a reasonable time thereafter. The Accounting Records shall include any notes or annotations thereto and as applicable assist in the determination of the applicable interest rate.

Interest Rate. [Section 4.1] of the Loan Agreement is hereby amended by adding the following new [Section 4.1(e)] thereto immediately following [Section 4.1(d)]:

Interest Rate. Interest on the outstanding and unpaid principal balance hereof shall be computed at a per annum rate equal to the lesser of # a rate equal to the Prime Rate or # the highest rate permitted by applicable law, but in no event shall interest contracted for, charged or received hereunder plus any other charges in connection herewith which constitute interest exceed the maximum interest permitted by applicable law, said rate to be effective prior to maturity (however such maturity is brought about). The term "Prime Rate," as used herein, shall mean the maximum "Latest" "U.S." prime rate of interest per annum published from time to time in the Money Rates section of The Wall Street Journal (US Edition) or in any successor publication to The Wall Street Journal; provided, however, in no event shall the Prime Rate be less than 3.50%. Borrower understands that the Prime Rate may not be the best, lowest, or most favored rate of Lender or The Wall Street Journal, and any representation or warranty in that regard is expressly disclaimed by Lender. Borrower acknowledges that # if more than one U.S. prime rate is published at any time by The Wall Street Journal, the highest of such prime rates shall constitute the Prime Rate hereunder, and # if at any time The Wall Street Journal ceases to publish a U.S. prime rate, Lender shall have the right to select a substitute rate that Lender determines, in the exercise of its reasonable commercial discretion, to be comparable to such prime rate, and the substituted rate as so selected, upon the sending of written notice thereof to Borrower, shall constitute the Prime Rate hereunder. Upon each increase or decrease hereafter in the Prime Rate, the rate of interest upon the unpaid principal balance hereof shall be increased or decreased by the same amount as the increase or decrease in the Prime Rate, such increase or decrease to become effective as of the day of each such change in the Prime Rate and without notice to Borrower or any other person.

Interest Rate. Interest on the Revolving Loans shall accrue at an annual rate equal to the Applicable Margin plus the greater of # zero percent (0.0%) and # the one-month LIBOR rate quoted by Bank from Reuters Screen [[Unknown Identifier]] Page or any successor thereto, which may be designated by the Bank as provided below, which shall be that one-month LIBOR rate in effect two New York Banking Days prior to the Reprice Date, adjusted for any reserve requirement and any subsequent costs arising from a change in government regulation, such rate rounded up to the nearest one sixteenth percent and such rate to be reset monthly on each Reprice Date. The term “New York Banking Day” means any date (other than a Saturday or Sunday) on which commercial banks are open for business in New York, New York. The term “Reprice Date” means the first day of each month. If the initial Revolving Loan under this Agreement is made other than on the Reprice Date, the initial one-month LIBOR rate shall be that one-month LIBOR rate in effect two New York Banking Days prior to the date of the initial advance, which rate plus the percentage described above shall be in effect until the next Reprice Date. The Bank’s internal records of applicable interest rates (including without limitation the Bank’s designation of any successor interest rate index if the rate index described above shall become temporarily unavailable) shall be determinative in the absence of manifest error. Notwithstanding the foregoing, in the event the Bank determines (which determination shall be conclusive absent manifest error) that # the interest rate applicable to Revolving Loans hereunder is not ascertainable or does not adequately and fairly reflect the cost of making or maintaining Revolving Loans and such circumstances are unlikely to be temporary, # ICE Benchmark Administration (or any Person that takes over the administration of such rate) discontinues its administration and publication of interest settlement rates for deposits in Dollars, or # the supervisor for the administrator of such interest settlement rate or a Governmental Authority having jurisdiction over the Bank has made a public statement identifying a specific date after which such interest settlement rate shall no longer be used for determining interest rates

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