The outstanding balance of this Note shall appear on a supplemental bank record and is not necessarily the amount shown on Annex A, which record shall evidence the balance due pursuant to this Note at any time.

Section 3 -- Unused Commitment Fee. The Governmental Agency shall pay to the Registered Owner an unused commitment fee (the "Unused Commitment Fee") in the amount of 0.10% (10 basis points) per annum on any unused amount of the Loan, which Unused Commitment Fee shall be payable quarterly on the first Business Day of each January, April, July, and October for as long as this Note is unpaid and outstanding. The amount of such Unused Commitment Fee shall be calculated quarterly by the Registered Owner as of the last day of each calendar quarter that this Note is outstanding. If this Note is prepaid before the Maturity Date or the Maturity Date of this Note ends on a date that is before the first Business Day of the last quarterly payment date, the Governmental Agency shall pay to the Registered Owner the final Unused Commitment Fee in an amount, determined by the Registered Owner, as of such prepayment date or such the Maturity Date, as applicable.

  • Section 4 -- Interest Accrual.
  • Interest on the Loan shall accrue on the outstanding principal balance of this Note commencing on the date of the initial disbursement of the Loan until the Loan has been fully paid and satisfied in cash.
  • Interest on all LIBOR Rate Loans shall be calculated based on a 360-day year and charged for the actual number of days elapsed.
  • If the Prime Rate is selected as a successor interest rate pursuant to Section 4(h) below, interest shall be calculated based on a 360-day year and charged for the actual number of days elapsed.
  • Subject to the terms hereof, the outstanding principal balance of this Note shall bear interest at the Adjusted LIBOR Rate.
  • The Governmental Agency shall have the right on any Business Day to request the Registered Owner to provide a good faith estimate of the then current LIBOR Rate quotation and the Registered Owner shall promptly provide such estimate.
  • The Adjusted LIBOR Rate (i) shall initially be determined as of the date of the initial disbursement, and (ii) shall adjust automatically on the first calendar day of each calendar month thereafter (each of the foregoing being a “LIBOR Adjustment Date”). Any change in the Adjusted LIBOR Rate resulting from a change in the LIBOR Rate shall become effective as of each such LIBOR Adjustment Date in accordance with this Note and the Registered Owner’s loan systems and procedures periodically in effect. The Registered Owner shall not be required to notify the Governmental Agency of any adjustment in the LIBOR Rate; however, the Governmental Agency may request a quote of the prevailing LIBOR Rate on any Business Day.
  • If the Prime Rate is selected as the successor interest rate pursuant to Section 4(h) hereof, the Prime Rate shall adjust automatically with each change in the