Common use of DATES OF PAYMENT OF INTEREST Clause in Contracts

DATES OF PAYMENT OF INTEREST. Each Revolving Loan shall bear interest on its unpaid principal amount from the date made until paid in cash at a rate determined by reference to the Reference Rate or to LIBOR, as applicable, and the relevant Borrower shall pay accrued interest on each such Revolving Loan (i) in the case of each Reference Rate Revolving Loan, on the first day of each month thereafter and (ii) in the case of each LIBOR Revolving Loan, on the last day of each Interest Period relating to such LIBOR Revolving Loan.