Change in Fees or Interest Rates Sample Clauses
The 'Change in Fees or Interest Rates' clause allows a party, typically a lender or service provider, to modify the fees charged or the interest rates applied under an agreement. In practice, this clause outlines the conditions under which such changes can occur, such as providing advance written notice to the other party or specifying limits on how frequently adjustments can be made. Its core function is to give flexibility to adjust financial terms in response to market conditions or regulatory changes, while also informing the other party and providing a mechanism for transparency and predictability.
Change in Fees or Interest Rates. If the Applicable Margin, Applicable Letter of Credit Fee Rate, Applicable Facility Fee Rate or Applicable 364-Day Facility Fee Rate is increased or reduced with respect to any period for which the Borrower has already paid interest, the Facility Fee, the 364-Day Facility Fee, or the Letter of Credit Fee, the Agent shall recalculate the additional interest, Facility Fee, 364-Day Facility Fee or Letter of Credit Fee due from or to the Borrower and shall, within fifteen (15) Business Days after the Borrower notifies the Agent of such increase or decrease, give the Borrower and the Banks notice of such recalculation.
4.1.4.1 Any additional interest, Facility Fee, 364-Day Facility Fee or Letter of Credit Fee due from the Borrower shall be paid to the Agent for the account of the Banks on the next date on which an interest or fee payment is due; provided, however, that if there are no Loans outstanding or if the Loans are due and payable, such additional interest, Facility Fee, 364-Day Facility Fee or Letter of Credit Fee shall be paid promptly after receipt of written request for payment from the Agent.
4.1.4.2 Any interest, Facility Fee, 364-Day Facility Fee or Letter of Credit Fee refund due to the Borrower shall be credited against payments otherwise due from the Borrower on the next interest or fee payment due date or, if the Loans have been repaid and the Banks are no longer committed to lend under this Agreement, the Banks shall pay the Agent for the account of the Borrower such interest, Facility Fee, 364-Day Facility Fee or Letter of Credit Fee refund not later than five Business Days after written notice from the Agent to the Banks.
Change in Fees or Interest Rates. If the Applicable Margin or Applicable Facility Fee Rate is increased or reduced with respect to any period for which any Borrower has already paid interest or the Facility Fee, the Agent shall recalculate the additional interest or the Facility Fee due from, or the amount of the refund of interest or the Facility Fee due to, such Borrower and shall, within fifteen (15) Business Days after the Agent received the information which gave rise to such increase or decrease, give the applicable Borrower and the Banks notice of such recalculation.
(i) Any additional interest or Facility Fee due from any Borrower shall be paid to the Agent for the account of the Banks on the next date on which an interest or fee payment is due; provided, however, that if there are no Loans outstanding or if the Loans are due and payable, such additional interest or Facility Fee shall be paid promptly after receipt of written request for payment from the Agent.
(ii) Any interest or Facility Fee refund due to any Borrower shall be credited against payments otherwise due from such Borrower on the next interest or fee payment date or, if the Loans have been repaid and the Banks are no longer committed to lend under this Agreement, the Banks shall pay the Agent for the account of such Borrower such interest or Facility Fee refund not later than five Business Days after written notice from the Agent to the Banks.
Change in Fees or Interest Rates. If the Applicable Margin is increased or reduced with respect to any period for which the Borrower has already paid interest, the Administrative Agent shall recalculate the interest due from or to the Borrower and shall, within fifteen (15) Business Days after the Borrower notifies the Administrative Agent of such increase or decrease, give the Borrower and the Lenders notice of such recalculation.
4.1.4.1 Any additional interest due from the Borrower shall be paid to the Administrative Agent for the account of the Lenders on the next date on which an interest payment is due; provided, however, that if there are no Loans outstanding or if no Loans are due and payable, such additional interest shall be paid promptly after receipt of written request for payment from the Administrative Agent.
4.1.4.2 Any interest refund due to the Borrower shall be credited against payments otherwise due from the Borrower on the next interest due date or, if the Loans have been repaid and the Lenders are no longer committed to lend under this Agreement, the Lenders shall pay the Administrative Agent for the account of the Borrower such interest refund not later than five (5) Business Days after written notice from the Administrative Agent to the Lenders.
Change in Fees or Interest Rates. If the Applicable Margin or Applicable Commitment Fee Rate is increased or reduced with respect to any period for which the Borrower has already paid interest or Commitment Fees, the Administrative Agent shall recalculate the additional interest or Commitment Fees due from or to the Borrower and shall, within fifteen (15) Business Days after the Borrower notifies the Administrative Agent of such increase or decrease, give the Borrower and the Banks notice of such recalculation.
3.1.3.1 Any additional interest or Commitment Fees due from the Borrower shall be paid to the Administrative Agent for the account of the Banks on the next date on which an interest or fee payment is due; provided, however, that if there are no Loans outstanding or if the Loans are due and payable, such additional interest or Commitment Fees shall be paid promptly after receipt of written request for payment from the Administrative Agent.
3.1.3.2 Any interest or Commitment Fees refund due to the Borrower shall be credited against payments otherwise due from the Borrower on the next interest or fee payment due date or, if the Loans have been repaid and the Banks are no longer committed to lend under this Agreement, the Banks shall pay the Administrative Agent for the account of the Borrower such interest or Commitment Fee refund not later than five (5) Business Days after written notice from the Administrative Agent to the Banks.
Change in Fees or Interest Rates. If the Applicable Margin is increased or reduced with respect to any period for which a Borrower has already paid interest or Commitment Fees, the Agent shall recalculate the interest or Commitment Fees due from or payable to such Borrower and shall give such Borrower and the Lenders written notice of such recalculation not later than fifteen (15) Business Days after written notice from the Agent to the Borrowers of such increase or decrease.
3.1.3.1 Any additional interest or Commitment Fee due from a Borrower shall be paid to the Agent for the account of the Lenders on the next date on which an interest or fee payment is due; provided, however, that if there are no Loans outstanding or if the Loans are due and payable, such additional interest or Commitment Fee shall be paid promptly after receipt of written request for payment from the Agent.
Change in Fees or Interest Rates. If the Applicable Margin is increased or reduced with respect to any period for which the Borrower has already paid interest, the Agent shall recalculate the interest due from or to the Borrower and shall, within fifteen (15) Business Days after the Borrower notifies the Agent of such increase or decrease, give the Borrower and the Banks notice of such recalculation.
4.1.3.1 Any additional interest due from the Borrower shall be paid to the Agent for the account of the Banks on the next date on which an interest payment is due; provided, however, that if there are no Loans outstanding or if no Loans are due and payable, such additional interest shall be paid promptly after receipt of written request for payment from the Agent.
4.1.3.2 Any interest refund due to the Borrower shall be credited against payments otherwise due from the Borrower on the next interest due date or, if the Loans have been repaid and the Banks are no longer committed to lend under this Agreement, the Banks shall pay the Agent for the account of the Borrower such interest refund not later than five (5) Business Days after written notice from the Agent to the Banks.
Change in Fees or Interest Rates. If the Applicable Margin or Applicable Facility Fee Rate is increased or reduced with respect to any period for which the Borrower has already paid interest or Facility Fees, the Administrative Agent shall recalculate the additional interest or Facility Fees due from or to the Borrower and shall, within fifteen (15) Business Days after the Borrower notifies the Administrative Agent of such increase or decrease, give the Borrower and the Revolving Credit Banks notice of such recalculation.
3.1.3.1 Any additional interest or Facility Fees due from the Borrower shall be paid to the Administrative Agent for the account of the Revolving Credit Banks on the next date on which an interest or fee payment is due; PROVIDED, HOWEVER, that if there are no Loans outstanding or if the Loans are due and payable, such additional interest or Facility Fees shall be paid promptly after receipt of written request for payment from the Administrative Agent.
3.1.3.2 Any interest or Facility Fees refund due to the Borrower shall be credited against payments otherwise due from the Borrower on the next interest or fee payment due date or, if the Loans have been repaid and the Revolving Credit Banks are no longer committed to lend under this Agreement, the Revolving Credit Banks shall pay the Administrative Agent for the account of the Borrower such interest or Facility Fee refund not later than five Business Days after written notice from the Administrative Agent to the Banks.
Change in Fees or Interest Rates. If the Applicable Margin, Applicable Commercial Letter of Credit Fee Percentage, Applicable Standby Letter of Credit Fee Percentage or Applicable Facility Fee Percentage is increased or reduced with respect to any period for which any Borrower has already paid interest, Letter of Credit Fees or Facility Fees, the Administrative Agent or Canadian Agent, as applicable, shall recalculate the additional or lesser interest, Letter of Credit Fees or Facility Fees due from or to such Borrower and shall, at least five (5) Business Days prior to next subsequent interest payment date occurring after such Borrower notifies the Administrative Agent or the Canadian Agent, as the case may be, of such increase or decrease, give such Borrower and the US Banks or Canadian Banks, as applicable, notice of such recalculation.
3.1.5.1 Any additional interest, Letter of Credit Fee or Facility Fee due from (x) the US Borrowers shall be paid to the Administrative Agent for the account of the US Banks and (y) the Canadian Borrower shall be paid to the Canadian Agent for the account of the Canadian Banks, in each case on the next date on which an interest, Letter of Credit Fee or Facility Fee payment is due; provided, however, that if there are no Loans outstanding or if the Loans are due and payable, such additional interest, Letter of Credit Fee or Facility Fee shall be paid not later than five (5) Business Days after receipt of written request for payment from the Administrative Agent or the Canadian Agent, as applicable.
3.1.5.2 Any interest, Letter of Credit Fee or Facility Fee refund due to any Borrower shall be credited against payments otherwise due from such Borrower on the next interest, Letter of Credit Fee or Facility Fee payment due date or, if the Loans have been repaid and the Banks are no longer committed to lend under this Agreement, the (x) US Banks shall pay to the Administrative Agent for the account of the US Borrowers such interest, Letter of Credit Fee or Facility Fee refund not later than five (5) Business Days after written notice from the Administrative Agent to the US Banks and (y) Canadian Banks shall pay to the Canadian Agent for the account of the Canadian Borrower such interest or Facility Fee refund not later than five (5) Business Days after written notice from the Canadian Agent to the Canadian Banks.
Change in Fees or Interest Rates. If the Applicable Margin or Applicable Commitment Fee Rate is increased or reduced with respect to any period for which the Borrower has already paid interest or Commitment Fees, the Administrative Agent shall recalculate the additional interest or Commitment Fees due from or to the Borrower and shall, within fifteen (15) Business Days after the Borrower notifies the Administrative Agent of such increase or decrease, give the Borrower and the Banks notice of such recalculation.
3.1.3.1 Any additional interest or Commitment Fees due from the Borrower shall be paid to the Administrative Agent for the account of the Banks on the next date on which an interest or fee payment is due; provided, however, that if there are no Loans outstanding or if the Loans are due and payable, such additional interest or Commitment Fees shall be paid promptly after receipt of written request for payment from the Administrative Agent.
Change in Fees or Interest Rates. The first paragraph of Section 3.1.3 [Change in Fees or Interest Rates] of the Credit Agreement is hereby amended and restated in its entirety to read as follows: “If the Applicable Margin or Applicable Commitment Fee Rate is increased or reduced with respect to any period prior to the First Amendment Effective Date for which the Borrower has already paid interest or Commitment Fees, the Administrative Agent shall recalculate the additional interest or Commitment Fees due from or to the Borrower and shall, within fifteen (15) Business Days after the Borrower notifies the Administrative Agent of any change in the Debt Rating, give the Borrower and the Banks notice of such recalculation. If the Applicable Margin or Applicable Commitment Fee Rate is increased or reduced with respect to any period on or after the First Amendment Effective Date for which the Borrower has already paid interest or Commitment Fees, the Administrative Agent shall recalculate the additional interest or Commitment Fees due from or to the Borrower and shall, within fifteen (15) Business Days after the Borrower notifies the Administrative Agent of such increase or decrease, give the Borrower and the Banks notice of such recalculation.”