BASE INTEREST RATE. Section 3.02 (a). The definition of “Base Interest Rate” shall be amended as follows: (i) Up to and including December 31, 2016, the outstanding unpaid balance of the Loans comprising each Borrowing shall bear interest at a rate per annum equal to eight (8%) percent compounded annually and (ii) on January 1, 2017, and annually on each January 1st thereafter, the total outstanding balance of all Loans made to each Borrower shall bear interest at a rate per annum equal to eight (8%) percent compounded.
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Sources: Credit Agreement (Ridgewood Energy W Fund LLC), Credit Agreement (Ridgewood Energy a-1 Fund LLC)