Normal interest rate. The Borrower must pay interest on the Loan in respect of each Interest Period relating thereto on each Interest Payment Date at the rate per annum determined by the Lender to be: (a) in respect of the Loan less an amount equivalent to the Pledged Deposit Amount, the aggregate of (i) the Applicable Margin in respect thereof, (ii) the Reference Rate and (iii) the applicable Credit Adjustment Spread for such period; and (b) in respect of an amount equivalent to the Pledged Deposit Amount, the Applicable Margin in respect thereof.”;
Appears in 2 contracts
Sources: Loan Agreement (EuroDry Ltd.), Loan Agreement (EuroDry Ltd.)
Normal interest rate. The Borrower must pay interest on the Loan in respect of each Interest Period relating thereto on each Interest Payment Date at the rate per annum determined by the Lender to be:
(a) in respect of the Loan less an amount equivalent to the Pledged Deposit Amount, be the aggregate of (ia) the Applicable Margin in respect thereof, (iib) the Reference Rate for such period and (iiic) the applicable Credit Adjustment Spread for such period; and
(b) in respect of an amount equivalent to the Pledged Deposit Amount, the Applicable Margin in respect thereofSpread.”;
Appears in 1 contract
Sources: Loan Agreement (EuroDry Ltd.)
Normal interest rate. The Borrower Borrowers must pay interest on the a Loan in respect of each Interest Period relating thereto on each Interest Payment Date at the rate per annum determined by the Lender to be:
(a) in respect of the Loan less an amount equivalent to the Pledged Deposit Amount, be the aggregate of (ia) the Applicable Margin in respect thereof, (iib) the Reference Rate for such period and (iiic) the applicable Credit Adjustment Spread for such period; and
(b) in respect of an amount equivalent to the Pledged Deposit Amount, the Applicable Margin in respect thereofSpread.”;
Appears in 1 contract
Normal interest rate. The Borrower must pay interest on the Loan in respect of each Interest Period relating thereto on each Interest Payment Date at the rate per annum determined by the Lender to be:
be the aggregate of (a) the Applicable Margin in respect thereof, (b) the Reference Rate and (c) in respect of the Loan less an amount equivalent to the Pledged Deposit Amount, the aggregate of (i) the Applicable Margin in respect thereof, (ii) the Reference Rate and (iii) the applicable Credit Adjustment Spread for such period; and
(b) in respect of an amount equivalent to the Pledged Deposit Amount, the Applicable Margin in respect thereof.”;
Appears in 1 contract
Normal interest rate. The Borrower must pay interest on the Loan in respect of each Interest Period relating thereto on each Interest Payment Date at the rate per annum determined by the Lender to be:
be the aggregate of (a) the Applicable Margin in respect thereof, (b) the Reference Rate and (c) in respect of the Loan less an amount equivalent to the Pledged Deposit Amount, the aggregate of (i) the Applicable Margin in respect thereof, (ii) the Reference Rate and (iii) the applicable Credit Adjustment Spread for such period; and
(b) in respect of an amount equivalent to the Pledged Deposit Amount, the Applicable Margin in respect thereof.”;
Appears in 1 contract
Sources: Loan Agreement (EuroDry Ltd.)
Normal interest rate. The Borrower must pay interest on the Loan in respect of each Interest Period relating thereto on each Interest Payment Date at the rate per annum determined by the Lender Agent to be:
(a) in respect of the Loan less an amount equivalent to the Pledged Deposit Amount, be the aggregate of (i) the Applicable Margin in respect thereof, of Interest Periods of 12 months or less (a) the Margin and (b) LIBOR or (ii) the Reference Rate and (iii) the applicable Credit Adjustment Spread for such period; and
(b) in respect of an amount equivalent to Interest Periods of more than 12 months (a) the Pledged Deposit AmountMargin, the Applicable Margin (b) (in respect thereofof each Contribution) the actual cost of funds to that Lender to fund its Contribution and (c) Mandatory Costs (if any).”;
Appears in 1 contract
Normal interest rate. The Borrower Borrowers must pay interest on the Loan in respect of each Interest Period relating thereto on each Interest Payment Date at the rate per annum determined by the Lender to be:
(a) in respect of the Loan less an amount equivalent to the Pledged Deposit Amount, the aggregate of (i) the Applicable Margin in respect thereof, thereof and (ii) the Reference Rate and (iii) the applicable Credit Adjustment Spread for such periodRate; and
(b) in respect of an amount equivalent to the Pledged Deposit Amount, the Applicable Margin in respect thereof.”;
Appears in 1 contract
Normal interest rate. The Borrower must pay interest on the Loan in respect of each Interest Period relating thereto on each Interest Payment Date at the rate per annum determined by the Lender to be:
(a) in respect of the Loan less an amount equivalent to the Pledged Deposit Amount, the aggregate of (i) the Applicable Margin in respect thereof, (ii) the Reference Rate and (iii) the applicable Credit Adjustment Spread for such period; and
(b) in respect of an amount equivalent to the Pledged Deposit Amount, the Applicable Margin in respect thereof.”;
Appears in 1 contract
Normal interest rate. The Borrower must pay interest on the Loan in respect of each Interest Period relating thereto on each Interest Payment Date at the rate per annum determined by the Lender to be:
(a) in respect of the Loan less an amount equivalent to the Pledged Deposit Amount, the aggregate of (i) the Applicable Margin in respect thereof, thereof and (ii) the Reference Rate and (iii) the applicable Credit Adjustment Spread for such period; and
(b) in respect of an amount equivalent to the Pledged Deposit Amount, the Applicable Margin in respect thereof.”;
Appears in 1 contract
Sources: Facility Agreement (Euroseas Ltd.)
Normal interest rate. The Borrower Borrowers must pay interest on the Loan in respect of each Interest Period relating thereto on each Interest Payment Date at the rate per annum determined by the Lender to be:
(a) in respect of the Loan less an amount equivalent to the Pledged Deposit Amount, the aggregate of (i) the Applicable Margin in respect thereof, thereof and (ii) the Reference Rate and (iii) the applicable Credit Adjustment Spread for such period; and
(b) in respect of an amount equivalent to the Pledged Deposit Amount, the Applicable Margin in respect thereof.”;
Appears in 1 contract
Sources: Loan Agreement (Euroseas Ltd.)
Normal interest rate. The Borrower Borrowers must pay interest on the Loan or the relevant part thereof in respect of each Interest Period relating thereto on each Interest Payment Date at the rate per annum determined by the Lender to be:
(a) in respect of the Loan less an amount equivalent to the Pledged Deposit Amount, be the aggregate of (ia) the Applicable Margin in respect thereof, thereof and (iib) the Reference Rate and (iii) the applicable Credit Adjustment Spread for such period; and
(b) in respect of an amount equivalent to the Pledged Deposit Amount, the Applicable Margin in respect thereof.”;
Appears in 1 contract
Sources: Facility Agreement (Euroseas Ltd.)