Interest Rate

Interest Rate. Shall mean, from and after November 1, 2002, as to Prime Rate Loans, a rate of one (1%) percent per annum in excess of the Prime Rate; provided, that, Interest Rate shall mean the rate of two (2%) percent per annum in excess of the Prime Rate as to Prime Rate Loans, at Congress' option, without notice, (a) for the period on and after the effective date of termination or non-renewal hereof, or the date of... the occurrence of any Event of Default, and for so long as such Event of Default is continuing as determined by Congress and until such time as all Obligations are indefeasibly paid in full (notwithstanding entry of any judgment against LPC) and (b) on the Revolving Loans at any time outstanding in excess of the amounts available to LPC under the Accounts Agreement and supplements thereto, which excess(es) continue to exist or arise after three (3) days' telephonic or written notice to LPC of any such excess(es) (whether or not such excess(es), arise or are made with or without Congress' knowledge or consent and whether made before or after an Event of Default); provided, further, that, the higher Interest Rate under the immediately preceding proviso shall be inapplicable in the case of any excess(es) described in clause (b) thereof if and to the extent that Congress shall, at Congress' option, have agreed not to charge the higher Interest Rate otherwise permitted to be charged under such proviso, as evidenced by a writing expressly so stating and signed by Congress. View More

Interest Rate. Shall mean 4 percent (4%) per annum. The Interest Rate shall be computed on the basis of the actual number of days elapsed in a year composed of 360 days.

Interest Rate. Eleven and 57 /100ths percent (11.57%) per annum.

Interest Rate. Means the interest-equivalency rate, which, for any month, is Merrill Lynch annual corporate bond yield rate for the last business day of the calendar quarter preceding the calendar quarter in which such month occurs, divided by 12. The Committee may, in its discretion, select a different rate, provided that notice to the Deferral Plan Participants of the change in rate has been given reasonably in advance of the date on which the... Participant's deferral elections are required to be made. View More

Interest Rate. Means the rate of ten percent (10%) per annum, with no compounding.

Interest Rate. Shall mean 20% per annum.

Interest Rate. Shall refer to two percent (2%) plus the prime commercial lending rate of J.P. Morgan Chase (or any successor thereto) from time to time in effect for ninety (90) day unsecured loans.

Interest Rate. Means ten percent (10%) to be calculated on the basis of a year of 360 days and twelve months of thirty (30) days each.

Interest Rate. Shall be the prime rate published in the Wall Street Journal (Southwestern Edition) on the date any reimbursement hereunder is demanded (with the last such published rate to govern on any day when a rate is not so published).

Interest Rate. Means: (a) Subject to clauses (b) below, (i) as to Prime Rate Loans, a rate equal to three-quarters percent (3/4%) per annum in excess of the Prime Rate and (ii) as to Libor Loans, a rate equal to two and three-quarter percent (2 3/4%) per annum in excess of the Adjusted Libor Rate (based on the Adjusted Libor Rate applicable for the Interest Period selected by... Parent on behalf of Borrowers as in effect three (3) Business Days after the date of receipt by Lender of the request of Parent for such Libor Loans in accordance with the terms hereof, whether such rate is higher or lower than any rate previously quoted to Parent or any other Borrower). (b) Notwithstanding anything to the contrary set forth in clause (a) above, the Interest Rate shall mean, as to Prime Rate Loans, a rate equal to one-quarter percent (1/4%) per annum in 2 excess of the Prime Rate per annum and as to Libor Loans, a rate equal to two and one-quarter percent (2 1/4%) per annum in excess of the Adjusted Libor Rate (calculated as described in clause (a)(ii) above), in each case, effective as of the first day of the month after each of the following conditions is satisfied as determined by Lender in good faith: (i) the Consolidated Pre-Tax Net Income of Parent and its Subsidiaries (other than Screeem! Inc., Storybook Inc., TSI Soccer Corporation and TSI Retail Company) for the immediately preceding twelve (12) month fiscal year (commencing with the fiscal year ending on February 2, 2002) calculated based on the audited financial statements of Parent and its Subsidiaries for such fiscal year delivered to Lender, together with the unqualified opinion of the independent certified accountants, in accordance with Section 6.2 hereof, shall be not less than ($13,830,445) (ii) the Consolidated Net Sales of Parent and its Subsidiaries (other than Screeem! Inc., Storybook Inc., TSI Soccer Corporation and TSI Retail Company) for the immediately preceding twelve (12) month fiscal year (commencing with the fiscal year ending on February 2, 2002) calculated based on audited financial statements of Parent and its Subsidiaries (other than Screeem! Inc., Storybook Inc., TSI Soccer Corporation and TSI Retail Company) described in clause (b)(i) hereof, shall be not less than $160,256,020 and (iii) no Default or Event of Default shall exist or have occurred and be continuing; PROVIDED, THAT, in the event that the Interest Rate is reduced as provided in this clause (b), if in any subsequent fiscal year thereafter the condition set forth in clause (b)(i) and (b)(ii) are not satisfied, effective as of the first day of the month after the receipt by Lender of the audited financial statements of Parent and its Subsidiaries for such fiscal year, the Interest Rate shall increase to those rates set forth in clause (a) above. (c) Notwithstanding anything to the contrary contained in clause (a) or clause (b) above, the Interest Rate shall mean, at Lender's option, as to Prime Rate Loans, the rate of two and one- quarter percent (2 1/4%) per annum in excess of the Prime Rate, and as to Libor Loans, the rate of four and one-quarter percent (4 1/4%) per annum in excess of the Adjusted Libor Rate, without notice, (i) for the period (A) from and after the date of termination or non-renewal hereof until Lender has received full and final payment of all Obligations (notwithstanding entry of a judgment against any Borrower) and (B) from and after the date of the occurrence of an Event of Default for so long as such Event of Default is continuing, 3 and (ii) on the Loans to any Borrower at any time outstanding in excess of the Borrowing Base (whether or not such excess(es), arise or are made with or without Lender's knowledge or consent and whether made before or after an Event of Default). View More