HBI » Topics » Interest

This excerpt taken from the HBI 8-K filed Sep 5, 2006.

Interest

Interest on the Bridge Loan Facility shall be paid at the Applicable Interest Rate. “Applicable Interest Rate” will initially mean the 3-month Eurodollar Rate (adjusted for maximum reserves) as determined by the administrative agent plus a margin; provided that if the Bridge Loan Facility is not repaid in full by the end of the first three months following the issuance date, the Applicable Interest Rate otherwise in effect will increase by 0.5% and will thereafter increase by an additional 0.5% at the end of each subsequent three-month period for so long as the Bridge Loan Facility is outstanding, subject to a cap.

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