Term Loan Interest Rate

Term Loan Interest Rate. Shall mean a rate equal to eleven and one quarter of one (11.25%) percent per annum in excess of the greater of (i) the Adjusted Eurodollar Rate (as such rate is determined from time to time in accordance with the Loan Agreement) and (ii) three (3%) percent; provided, that, the Term Loan Interest Rate shall be thirteen and one quarter of one (13.25%) percent per annum in excess of the Adjusted Eurodollar Rate, at the option of the Majority Term Loan Lenders, after notice to Agent, for the... period from and after the date of the occurrence of any Event of Default, and for so long as such Event of Default is continuing as determined by the Majority Term Loan Lenders; provided, that, if any of the conditions described in Sections 3.3(b)(i) or 3.3(b)(ii) of the Loan Agreement exist with respect to Eurodollar Rate Loans, or if the adoption of or any change in any law, treaty, rule or regulation or final, non-appealable determination of an arbitrator or a court or other Governmental Authority or in the interpretation or application thereof, in each case, occurring after the date hereof shall make it unlawful for Term Loan Lender to make or maintain loans based on the Adjusted Eurodollar Rate, then the Majority Term Loan Lenders may, at their option, after notice to Agent, convert the interest rate on the Term Loan to nine (9%) percent per annum in excess of the greater of: (x) Prime Rate and (y) six (6%) percent (or at the option of the Majority Term Loan Lenders, after notice to Agent, for the period from and after the date of the occurrence of any Event of Default, and for so long as such Event of Default is continuing as determined by the Majority Term Loan Lenders, to eleven (11%) percent per annum in excess of the Prime Rate). View More

Term Loan Interest Rate. Shall mean an interest rate per annum equal to, at Borrowers' option, (a) the Applicable Term Loan Margin for Eurodollar Rate-based Term Loans plus the greater of (i) the Adjusted Eurodollar Rate for a one-month Interest Period and (ii) three (3.00%) percent, or (b) the Applicable Term Loan Margin for Prime Rate-based Term Loans plus the greatest of (i) the Prime Rate, (ii) the Adjusted Eurodollar Rate for a one-month Interest Period and (iii) four (4.00%) percent.