Common use of Normal interest rate Clause in Contracts

Normal interest rate. The Borrowers shall pay interest on each Advance in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment being due three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months thereof or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin, (b) LIBOR for such Interest Period and (c) Mandatory Cost (if any).

Appears in 2 contracts

Sources: Supplemental Agreement (Diana Shipping Inc.), Loan Agreement (DryShips Inc.)

Normal interest rate. The Borrowers Borrower shall pay interest on each Advance or, as the case may be the Facility A Loan, or the Facility B Loan or the Loan in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment being due three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months thereof or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin, (b) the Additional Cost and (c) LIBOR for such Interest Period and (c) Mandatory Cost (if any)Period.

Appears in 2 contracts

Sources: Facilities Agreement (Aries Maritime Transport LTD), Facilities Agreement (Omega Navigation Enterprises, Inc.)

Normal interest rate. The Borrowers shall pay interest on each Advance or (as the case may be) Tranche or Sub-Tranche, in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment being due three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months thereof or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the relevant Margin, (b) LIBOR for such Interest Period and (c) Mandatory Cost (if any).

Appears in 2 contracts

Sources: Facility Agreement (Costamare Partners LP), Facility Agreement (Costamare Partners LP)

Normal interest rate. The Borrowers shall pay interest on each Advance or (as the case may be) the Loan in respect of each Interest Period relating thereto on each Interest Payment Date relating thereto (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment being due three (3) months from the commencement of the relevant Interest Period and the subsequent instalments at intervals of three (3) months thereof or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin, (b) LIBOR for such Interest Period and (c) the Mandatory Cost (Cost, if any).

Appears in 1 contract

Sources: Senior Loan Agreement (FreeSeas Inc.)

Normal interest rate. The Borrowers shall pay interest on each Tranche (or any Advance thereof) in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment being due three (3) months from the commencement of the Interest Period and the subsequent instalments at intervals of three (3) months thereof or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin, (b) LIBOR for such Interest Period and (c) Mandatory Cost (if any).

Appears in 1 contract

Sources: Loan Agreement (Diana Containerships Inc.)

Normal interest rate. The Borrowers shall pay interest on each Advance or (as the case may be) the Loan in respect of each Interest Period relating thereto on each Interest Payment Date relating thereto (or, in the case of Interest Periods of more than three (3) months, by instalments, the first instalment being due three (3) months from the commencement of the relevant Interest Period and the subsequent instalments at intervals of three (3) months thereof or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent Bank to be the aggregate of (a) the Margin, Margin and (b) LIBOR for such Interest Period and (c) Mandatory Cost (if any)Period.

Appears in 1 contract

Sources: Junior Loan Agreement (FreeSeas Inc.)

Normal interest rate. The Borrowers shall pay interest on each Advance or, as the case may be, the Loan in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three six (36) months, by instalments, the first instalment being due three six (36) months from the commencement of the Interest Period and the subsequent instalments at intervals of three six (36) months thereof or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin, Margin and (b) LIBOR for such Interest Period and (c) Mandatory Cost (if any)Period.

Appears in 1 contract

Sources: Loan Agreement (Capital Maritime & Trading Corp.)

Normal interest rate. The Borrowers shall pay accrued interest on each Advance the Loan in respect of each Interest Period relating thereto on each Interest Payment Date (or, in the case of Interest Periods of more than three (3) months, by instalments, the first such instalment being due payable three (3) months from the commencement of the Interest Period and the subsequent instalments payable at intervals of three (3) months thereof or, if shorter, the period from the date of the preceding instalment until the Interest Payment Date relative to such Interest Period) at the rate per annum determined by the Agent to be the aggregate of (a) the Margin, (b) LIBOR for such Interest Period and (c) the Mandatory Cost (Cost, if any).

Appears in 1 contract

Sources: Loan Agreement (Golden Energy Marine Corp.)