Common use of Payment of Interest on the Credit Extensions Clause in Contracts

Payment of Interest on the Credit Extensions. (a) Interest Rate; Formula Advances. Subject to Section 2.7(c), -------------- ----------------- the principal amount of the Formula Advances amounts outstanding under the Revolving Line shall accrue interest at a per annum rate equal to: (i) 1.50 percentage points above the Prime Rate, if a Streamline Period is not in effect; and (ii) 0.50 percentage points above the Prime Rate during any Streamline Period.