Nautilus 2009 Annual Report Download - page 300

Facility Maturity Date, Borrower shall provide cash collateral to Lender on or before the Revolving Credit Facility Maturity Date (and, if
required by Lender, shall grant a security interest in such cash collateral in favor of Lender in accordance with the requirements of Section 3.6
(a)) in an amount equal to 105 percent of the aggregate undrawn face amount of such outstanding Non-Cash Secured Letters of Credit and such
cash collateral shall secure Borrower’s continuing obligations in respect of such outstanding Letters of Credit.
ARTICLE IV
TERMS RELATING GENERALLY TO PAYMENTS AND INTEREST RATES
Section 4.1 Computation of Interest and Fees
. Each Revolving Loan that is a LIBOR Rate Loan shall bear interest on the outstanding
principal amount thereof, for each Interest Period applicable thereto, at a rate per annum equal to the LIBOR Rate plus the Applicable Margin.
Each Revolving Loan that is a Base Rate Loan shall bear interest on the outstanding principal amount thereof at the Base Rate plus the
Applicable Margin, which rate shall change contemporaneously with any change in the Base Rate. Each Revolving Loan that is an Applicable
Floating Rate Loan shall bear interest on the outstanding principal amount thereof at the Applicable Floating Rate plus the Applicable Margin,
which rate shall change contemporaneously with any change in the Applicable Floating Rate. Interest payable by Borrower under this
Agreement shall be computed daily on the basis of a year of 360 days and shall be paid for the actual number of days for which due. If the due
date for any payment of principal is extended by operation of law, interest shall be payable for such extended time. If any payment required by
this Agreement or the Note becomes due on a day that is not a Business Day, such payment shall be due on the next succeeding Business Day
(subject to the definition of the term Interest Period), and such extension shall be included in computing interest in connection with such
payment.
Section 4.2 Payment of Interest . Borrower shall pay Lender interest accrued on Base Rate Loans and Applicable Floating Rate
Loans monthly in arrears on the first Business Day of each calendar month, commencing April 1, 2010. Except as specified in the following
sentence, Borrower shall pay Lender interest accrued on LIBOR Rate Loans on the last day of the Interest Period for each such LIBOR Rate
Loan. Notwithstanding the foregoing, if Borrower selects an Interest Period of six months with respect to any LIBOR Rate Loan, Borrower shall
pay Lender interest accrued on the principal amount of such LIBOR Rate Loan on the last day of the third month of such Interest Period and on
the last day of the Interest Period for such LIBOR Rate Loan.
Section 4.3 Default Rate of Interest . Following the occurrence of an Event of Default and during the continuance thereof, interest
shall accrue, at Lender’
s option and upon notice to Borrower, (and shall be payable by Borrower) on the principal balances outstanding under the
Note at the Default Rate.
Section 4.4 Limitations on Amounts of LIBOR Rate Loans
. Borrower shall not request a LIBOR Rate Loan for less than a minimum
of $500,000 in principal amount. Borrower shall not be entitled to have more than five LIBOR Rate Loans outstanding at any time.
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