Example ContractsClausesTerm Loan Pik Interest Rate
Term Loan Pik Interest Rate
Term Loan Pik Interest Rate contract clause examples

Term Loan PIK Interest Rate. In addition to interest accrued pursuant to the Term Loan Cash Interest Rate, to the extent Parent has initiated a PIK Deferral Period, the principal balance of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan PIK Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed (the “Term Loan PIK Interest”), which amount shall be added to the outstanding principal balance and so capitalized so as to increase the outstanding principal balance of such Term Loan Advance on each payment date for such Advance and which amount shall be payable when the principal amount of the applicable Advance is payable in accordance with Section 2.1(d).

Term Loan Interest Rate. The principal balance shall bear interest thereon from such Advance Date at the Term Loan Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Term Loan Interest Rate will float and change on the day the prime rate changes from time to time.

Term Loan Interest Rate. The principal balance of each Term Loan Advance shall bear interest thereon from such Advance Date in an amount equal to the product of the outstanding Term Loan principal balance multiplied by the Term Loan Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Term Loan Interest Rate set forth in this Agreement will float and change on the day the prime rate changes from time to time.

Term Loan Interest Rate. The principal balance shall bear interest thereon from such Advance Date in an amount equal to the product of the outstanding Term Loan principal balance multiplied by the Term Loan Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Term Loan Interest Rate will float and change on the day the prime rate changes from time to time.

The Term Loans shall bear interest at a rate per annum (computed on the basis of a year of 360 days, as the case may be, and actual days elapsed, provided that, if the market practice differs from the foregoing at any time for loans made in Euros, in accordance with such market practice) equal to the Euro-Rate plus the Applicable Margin.

Term Loan PIK Interest Rate. In addition to interest accrued pursuant to the Term Loan Cash Interest Rate, to the extent New Parent, has initiated a PIK Deferral Period, the principal balance of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan PIK Interest Rate based on a year consisting of three hundred sixty (360) days, with interest computed daily based on the actual number of days elapsed (the “Term Loan PIK Interest”), which amount shall be added to the outstanding principal balance and so capitalized so as to increase the outstanding principal balance of such Term Loan Advance on each payment date for such Advance and which amount shall be payable when the principal amount of the applicable Advance is payable in accordance with Section 2.1(d).

New Loan PIK Interest Rate. In addition to interest accrued pursuant to clause (d)(i) of this [Section 2A.1], during any PIK Deferral Period, the outstanding principal balance (including, for the avoidance of doubt, the amount of accrued and unpaid New Loan PIK Interest added to principal pursuant to [Section 2A.1(d)(iii)]) of each New Loan Advance shall bear interest thereon from the applicable Advance Date for such New Loan Advance (or, with respect to any principal constituting New Loan PIK Interest, the date on which such New Loan PIK Interest is added to principal, as applicable) at the New Loan PIK Interest Rate, based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed (such interest, the “New Loan PIK Interest”). On each date on which interest is to be paid as provided in the first sentence of [Section 2A.1(d)(iii)], the amount of accrued and unpaid New Loan PIK Interest with respect to each New Loan Advance shall, in lieu of payment thereof in cash, be capitalized and added to the outstanding principal balance of such New Loan Advance so as to increase the outstanding principal balance of such New Loan Advance, which principal amount shall be payable when the principal amount of the applicable New Loan Advance is payable in accordance with [Section 2A.1(e)].

Term Loan PIK Interest Rate. In addition to interest accrued pursuant to the Term Loan Cash Interest Rate, to the extent New Parent, has initiated a PIK Deferral Period, the principal balance of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan PIK Interest Rate based on a year consisting of three hundred sixty (360) days, with interest computed daily based on the actual number of days elapsed (the “Term Loan PIK Interest”), which amount shall be added to the outstanding principal balance and so capitalized so as to increase the outstanding principal balance of such Term Loan Advance on each payment date for such Advance and which amount shall be payable when the principal amount of the applicable Advance is payable in accordance with [Section 2.1(d)].

PIK Interest. From and after January 1, 2019, each Loan and any overdue interest on each Loan shall bear interest payable in kind at a fixed rate per annum equal to three and a half percent (3.5%) per annum (the “PIK Rate”). Interest accruing at the PIK Rate on the Loans shall be paid in kind in arrears by increasing the outstanding principal amount of Loans held by the Lender on the first (1st) day of each month; provided that interest accruing at the PIK Rate on each Loan and any overdue interest on each Loan shall be paid in cash # on the maturity of the Loans, whether by acceleration or otherwise, or # in connection with any repayment or prepayment of the Loans.”

Term Loan Interest Rate. The principal balance of the Term Loan shall bear interest thereon from the actual payment thereof at the Term Loan Interest Rate per annum based on a year consisting of 365 days.

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