Common use of Rates and Payment of Interest Clause in Contracts

Rates and Payment of Interest. (a) The Obligations shall bear interest at LIBOR in effect from time to time, plus the Applicable Margin. (b) During any Event of Default, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, until paid in full. Interest accrued on the Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 2 contracts

Sources: Loan and Security Agreement (Xplore Technologies Corp), Loan and Security Agreement (Wireless Telecom Group Inc)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 2 contracts

Sources: Loan Agreement (Inari Medical, Inc.), Loan and Security Agreement (Calix, Inc)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a Term SOFR Loan, at Term SOFR for the applicable Interest Period, plus the Applicable Margin; (iii) if a EURIBOR Loan, at EURIBOR for the applicable Interest Period, plus the Applicable Margin; and (iv) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentLoan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan, Guaranty and Security Agreement (Infinera Corp)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a Term SOFR Loan, at Term SOFR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Revolver Loans. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentLoan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Abl Loan and Security Agreement (Rocky Brands, Inc.)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a BSBY Loan, at the BSBY Rate for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Lender in its discretion so elects, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentBSBY Loan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan and Security Agreement (Servicesource International, Inc.)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if the Loans bear interest based on the Base Rate in accordance with the terms of this Agreement, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin, (ii) at any other time, at the LIBO Rate for the applicable Interest Period, plus the Applicable Margin, and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin. (b) During an Insolvency Proceeding with respect to Borrower, or during any other Event of DefaultDefault if the Lenders so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, until paid in fullfull by Borrower, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be due and payable in arrears, (i) on the first last day of each monththe Interest Period; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) with respect to the Tranche A Loans, on the Commitment Termination Tranche A Maturity Date; and (iv) with respect to the Tranche B Loans, on the Tranche B Maturity Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andor, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Senior Credit Agreement (Hornbeck Offshore Services Inc /La)

Rates and Payment of Interest. (a) The Obligations (other than Secured Bank Product Obligations) shall bear interest at LIBOR in effect from time a rate per annum equal to time, the LIBO Rate plus the Applicable MarginMargin (except as may be provided by the definition of LIBO Rate or Section 3.1.2, Section 3.5 or Section 3.6). Subject to Section 3.1.2, Section 3.5 or Section 3.6, and except as set forth in the definition of LIBO Rate, all Loans shall be LIBOR Loans. (b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations (other than Secured Bank Product Obligations) shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or becomes payable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be due and payable in arrears, (i) on the first calendar day of each calendar month, for the Interest Period then ended; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andor, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand. (d) Agent does not warrant or accept responsibility for, nor shall it have any liability with respect to, administration, submission or any other matter related to the rate described in the definition of LIBOR.

Appears in 1 contract

Sources: Loan, Security and Guarantee Agreement (AutoWeb, Inc.)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a Benchmark Rate Loan, at the Benchmark Rate for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable, until paid in fullfull by Borrower, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentLoan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on within one (1) Business Day of demand.

Appears in 1 contract

Sources: Loan and Security Agreement (Stonemor Inc.)

Rates and Payment of Interest. (a) The Obligations (other than Secured Bank Product Obligations) shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Revolver Loans. (b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations (other than Secured Bank Product Obligations) shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Revolver Loan is advanced or Obligation (other than Secured Bank Product Obligations) is incurred or payable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Revolver Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations (other than Secured Bank Product Obligations) shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan, Guaranty and Security Agreement (ArcLight Clean Transition Corp.)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a Term SOFR Loan, at Term SOFR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans that are not FILO Loans. (b) During an Insolvency Proceeding with respect to any Obligor or during an Event of Default under Section 11.1(a), automatically, or during any other Event of Default, if Agent in its discretion so elects, the Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentLoan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on promptly following written demand.

Appears in 1 contract

Sources: Loan and Security Agreement (FreightCar America, Inc.)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a Term SOFR Loan, at Term SOFR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentLoan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan, Guaranty and Security Agreement (BIG 5 SPORTING GOODS Corp)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentLIBOR Loan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demandwithin 10 Business Days after demand therefor.

Appears in 1 contract

Sources: Loan, Guaranty and Security Agreement (SMART Global Holdings, Inc.)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans. (b) During any an Event of DefaultDefault under Section 11.1(a)(i) or 11.1(g), or during any other Event of Default if Required Lenders in their discretion so elect, overdue Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable, until paid in fullfull by Borrower, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentLIBOR Loan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andor in the other applicable agreements, or if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan and Security Agreement (Summit Midstream Partners, LP)

Rates and Payment of Interest. (a) The Obligations shall bear interest as follows: (i) during the Initial Interest Period at LIBOR the Initial Loan Rate and (ii) during the period commencing on the first day immediately after the Initial Interest Period through and including the Revolver Termination Date, at the greater of: (i) Base Rate in effect from time to time, time plus the Applicable MarginMargin and (ii) 4.75%. (b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andor, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan and Security Agreement (NewLake Capital Partners, Inc.)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Revolver Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Revolver Loans. If a Revolver Loan is repaid on the same day made, one day’s interest shall accrue. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Revolver Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Revolver Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andor, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan and Security Agreement (Americas Carmart Inc)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Revolver Loans. (b) During an Insolvency Proceeding with respect to Borrower, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Revolver Loan is advanced or Obligation is incurred or payable, until paid in fullfull by Borrower, and shall in no event be less than zero at any time. Interest accrued on the Revolver Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andor, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan and Security Agreement (Vizio Holding Corp.)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a BSBY Loan, at the BSBY Rate for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentBSBY Loan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan Agreement (Quotient Technology Inc.)

Rates and Payment of Interest. (a) The Obligations shall bear interest at LIBOR in effect from time to time, plus the Applicable Margin.; provided, that at any time LIBOR is not available, the Obligations shall, at the option of Agent, bear interest based on an alternative rate as set forth in the definition of LIBOR or the Base Rate plus the Applicable Margin. -30- (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand . (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demanddemand .

Appears in 1 contract

Sources: Loan Agreement (Key Tronic Corp)

Rates and Payment of Interest. (a) The Obligations Loans shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; and (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin. Other payment Obligations not paid when due (including, to the extent permitted by law, interest not paid when due), shall bear interest at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans, subject to clause (b) below. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Lender in its discretion so elects, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or or, with respect to other payment Obligations, the date due and payable, as applicable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentLIBOR Loan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan and Security Agreement (Orion Energy Systems, Inc.)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a Term SOFR Loan, at Term SOFR for the applicable Interest Period, plus the Applicable Margin; (iii) if a Swingline Loan, at the rate then applicable to Swingline Loans plus the margin then applicable to Swingline Loans; and (iv) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans. Interest shall accrue from the date the Loan is advanced or the Obligation is incurred or payable, until paid in full by Borrowers, and shall in no event be less than zero at any time. If a Loan is repaid on the same day made, one day’s interest shall accrue. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge Each Obligor acknowledges that the cost and expense to Lender Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is a fair and reasonable compensation estimate to compensate Agent and Lenders for this. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, until paid in full. Interest accrued on the Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan and Security Agreement (Seneca Foods Corp)

Rates and Payment of Interest. (a) The Obligations Subject to the provisions of Section 3.1.1(b), Section 3.6 and Section 3.7 below, the Term Loans shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the LIBOR (or the Successor LIBOR Rate, where applicable) in effect from time to time, time plus the Applicable Margin... (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge Each Obligor acknowledges that the cost and expense to Lender Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, until paid in fullfull by Borrowers. Interest accrued on the Loans each Term Loan shall be due and payable in arrears, arrears (i) on the first day of each month; Interest Payment Date, and (ii) on any date of prepaymentif not previously paid in full, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. , and at such other times as may be specified herein Interest accrued on any other Obligations hereunder shall be due and payable as provided in accordance with the Loan Documents andterms hereof before and after judgment, if no payment date is specified, shall be due and payable on demand. Notwithstanding before and after the foregoing, interest accrued at the Default Rate shall be due and payable on demandcommencement of any proceeding under any Insolvency Law.

Appears in 1 contract

Sources: Term Loan and Security Agreement (Summer Infant, Inc.)

Rates and Payment of Interest. (a) The Obligations shall bear interest at LIBOR the SOFR Rate as in effect from time to time, plus the Applicable Margin. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Lender in its discretion so elects by written notice to the Borrowers, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each calendar month in arrears for the prior month; (ii) on concurrently with prepayment of any date of prepaymentLoan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan and Security Agreement (HOOKER FURNISHINGS Corp)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentLIBOR Loan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan Agreement (BIG 5 SPORTING GOODS Corp)

Rates and Payment of Interest. (a) The Obligations shall bear interest at LIBOR in effect from time to time, for the applicable Interest Period plus the Applicable Margin. Interest shall accrue from the date the Loan is advanced or the Obligation is incurred or payable, until paid by Borrower. (b) During an Event of Default under Section 11.1(a) or (j), or, if Agent or Required Lenders in their discretion so elect, during any other Event of Default, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge Borrower acknowledges that the cost and expense to Lender Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is a fair and reasonable compensation estimate to compensate Agent and Lenders for this. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, until paid in full. Interest accrued on the Loans shall be due and payable in arrears, (i) on the first day Business Day of each monthFiscal Quarter; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Maturity Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Intercreditor Agreement (Cross Country Healthcare Inc)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a BSBY Loan, at the BSBY Rate for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans. (b) During an Insolvency Proceeding with respect to any Obligor, or during the continuance of any other Event of DefaultDefault if Lender in its discretion so elects, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable, until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentBSBY Loan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan and Security Agreement (Arlo Technologies, Inc.)

Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Base Rate Loan, at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Loans. (b) During an Insolvency Proceeding with respect to any Obligor, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this, payable on demand. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, as applicable until paid in fullfull by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentLIBOR Loan, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents andapplicable agreements or, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Abl Loan and Security Agreement (Rocky Brands, Inc.)

Rates and Payment of Interest. (a) The Obligations which bear interest shall bear interest at LIBOR in effect from time to time, plus the Applicable Margin. (b) During any Event of Default, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge Borrower acknowledges that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this. (c) Interest shall accrue from the date a Loan is advanced or other Obligation is incurred (if interest-bearing) or payable, until paid in full. Interest accrued on the Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan and Security Agreement (Volt Information Sciences, Inc.)

Rates and Payment of Interest. (a) The Obligations under the Loan Documents shall bear interest (i) if a Base Rate Revolver Loan, on the outstanding principal amount thereof at LIBOR a rate per annum equal to the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a LIBOR Revolver Loan, on the outstanding principal amount thereof at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation under the Loan Documents (including, to the extent permitted by law, interest not paid when due) to the extent not paid when due, at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Revolver Loans. Interest shall accrue from the date the Revolver Loan is advanced or the Obligation is payable, until paid by Borrowers. If a Revolver Loan is repaid on the same day made, one day’s interest shall accrue. (b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of DefaultDefault if Agent or Required Lenders in their discretion so elect, Obligations under the Loan Documents shall bear interest at the Default Rate (whether before or after any judgment). Borrowers acknowledge that the cost and expense to Lender due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this. (c) Interest shall accrue from the date a Loan is advanced or Obligation is incurred or payable, until paid in full. Interest accrued on the Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.

Appears in 1 contract

Sources: Loan and Security Agreement (Conns Inc)