Common use of Payment of Interest; Interest Rate Clause in Contracts

Payment of Interest; Interest Rate. (a) The Borrower hereby agrees to pay to the Lenders as primary obligor interest on the unpaid principal amount of each Advance for the period commencing on the Drawdown Date of such Advance or if such Advance is a deemed Advance pursuant to Section 2.13 the date of the relevant drawing under the Letter of Credit until but not including the stated maturity thereof (whether by acceleration or otherwise) or the date of prepayment thereof at the Applicable Rate which shall be the rate per annum which is equal to the aggregate of (i) the LIBOR Rate for the relevant Interest Period plus (ii)

Payment of Interest; Interest Rate. (a) The Borrower hereby agrees to pay to the Lenders as primary obligor interest on the unpaid principal amount of each Advance for the period commencing on the Drawdown Date of such Advance or if such Advance is a deemed Advance pursuant to Section 2.13 the date of the relevant drawing under the Letter of Credit until but not including the stated maturity thereof (whether by acceleration or otherwise) or the date of prepayment thereof at the Applicable Rate which shall be the rate per annum which is equal to the aggregate of (i) the LIBOR Rate for the relevant Interest Period plus (ii) the Margin plus (iii)