Common use of Interim payment Clause in Contracts

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), Borrowers shall pay to Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent (2.0%) per annum.

Appears in 2 contracts

Sources: Loan and Security Agreement (Blackboard Inc), Loan and Security Agreement (Blackboard Inc)

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, on behalf of Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent pursuant to subsection (2.0%b) per annumof this Section.

Appears in 2 contracts

Sources: Loan and Security Agreement (Jamdat Mobile Inc), Loan and Security Agreement (Salmedix Inc)

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), ) Borrowers shall pay to Bank, on behalf of Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Basic Rate, plus two percent (2.0%) per annum.

Appears in 2 contracts

Sources: Loan and Security Agreement (Manugistics Group Inc), Loan and Security Agreement (Manugistics Group Inc)

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance or Supplemental Equipment Advance (unless the Funding Date is the first Business Day of the month), Borrowers shall pay to Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent (2.0%) per annum.

Appears in 2 contracts

Sources: Loan and Security Agreement (Blackboard Inc), Loan and Security Agreement (Blackboard Inc)

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date Equipment Advance is made on the first Business Day day of the month), Borrowers ) Borrower shall pay to Bank, on behalf of Bank, an amount (the projected "Interim Payment") equal to interest to accrue on the amount of the Equipment Advance at the applicable Basic Rate calculated for the number of days from the Funding Date to of the Equipment Advance until the first Payment Date, at the Bank’s Prime Rate, plus two percent (2.0%) per annumDate with respect to such Equipment Advance.

Appears in 2 contracts

Sources: Loan and Security Agreement (Cosine Communications Inc), Loan and Security Agreement (Cosine Communications Inc)

Interim payment. In addition to the Scheduled Term Loan Payments, on the Funding Date for each Equipment Corporate Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent (2.0%) per annum.

Appears in 1 contract

Sources: Loan and Security Agreement (Omnicell Inc /Ca/)

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, on behalf of Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent pursuant to paragraph "(2.0%) per annumb)" of this Section.

Appears in 1 contract

Sources: Loan and Security Agreement (Homestead Com Inc)

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), ) Borrowers shall pay to Bank, on behalf of Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Basic Rate, plus two percent . (2.0%ii) per annum.Sections 2.1.2(e) and (f) of the Loan Agreement are amended and restated in their entirety as follows:

Appears in 1 contract

Sources: Loan and Security Agreement (Manugistics Group Inc)

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance or Equipment Facility 2 Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, Bank the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent pursuant to paragraph “(2.0%) per annumb)” of this Section.

Appears in 1 contract

Sources: Loan Modification Agreement (Saba Software Inc)

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, Bank the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent pursuant to paragraph “(2.0%) per annumb)” of this Section.

Appears in 1 contract

Sources: Loan and Security Agreement (Saba Software Inc)

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Facility 2 Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, Bank the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent pursuant to clause (2.0%b) per annumof this Section.

Appears in 1 contract

Sources: Loan and Security Agreement (Saba Software Inc)

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Facility 2 Advance or Equipment Facility 3 Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, Bank the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s Prime Rate, plus two percent pursuant to clause (2.0%b) per annumof this Section.

Appears in 1 contract

Sources: Loan and Security Agreement (Saba Software Inc)

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), Borrowers ) Borrower shall pay to Bank, on behalf of Bank, an amount (the projected interest "Interim Payment") equal to accrue the initial Equipment Advance multiplied by the product of (i) the quotient derived from dividing the Basic Rate by 360, and (ii) the number of days from the Funding Date to of the Equipment Advance until the first Payment Date, at the Bank’s Prime Rate, plus two percent (2.0%) per annumDate with respect to such Equipment Advance.

Appears in 1 contract

Sources: Loan and Security Agreement (Webridge Inc)

Interim payment. In addition to the Scheduled Payments, on the Funding Date for each Equipment Advance (unless the Funding Date is the first Business Day of the month), ) Borrowers shall pay to Bank, on behalf of Bank, the projected interest to accrue from the Funding Date to the first Payment Date, at the Bank’s 's Prime Rate, plus two percent (2.0%) per annum.

Appears in 1 contract

Sources: Loan and Security Agreement (Manugistics Group Inc)