Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on the Loan in respect of an Interest Period shall be the aggregate of (a) the Margin, (b) the Relevant Interest Rate for that Interest Period, and (c) the Mandatory Cost Rate.
Appears in 3 contracts
Sources: Loan Agreement (Arlington Tankers Ltd.), Loan Agreement (General Maritime Corp / MI), Loan Agreement (Arlington Tankers Ltd.)
Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on the Loan each Advance in respect of an Interest Period shall be the aggregate of (a) the Margin, Margin and (b) the Relevant Interest Rate LIBOR for that Interest PeriodPeriod PROVIDED THAT where the Borrowers request, and (c) the Mandatory Cost RateLenders agree to, an Interest Period of longer than twelve months, the applicable rate of interest shall be the aggregate of the Margin and the fixed rate agreed between the Lenders and the Borrowers and advised by the Agent to the Borrowers.
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