Interest Rates in General. Except for Swing Loans which shall bear the interest rate specified in Section 1.1(c) above, subject to the terms and conditions of this Agreement, each Loan shall, at the option of the Borrowers, bear interest on the outstanding principal amount thereof until paid in full at a rate per annum equal to (i) the Prime Rate as in effect from time to time or (ii) the applicable LIBO Rate for a specified Interest Period plus in the case of both (i) and (ii) the Applicable Margin, if any.
Appears in 2 contracts
Sources: Credit Agreement (Genesis Eldercare Acquisition Corp), Credit Agreement (Genesis Eldercare Acquisition Corp)