Common use of Change in Interest Rates Clause in Contracts

Change in 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 additional 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 Lenders 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 Lenders on the next date on which an interest or fee payment is due; provided, however, that if the Term Loan is 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 or fee payment due date or, if the Term Loan has been repaid and the Lenders are no longer committed to lend under this Agreement, the Lenders shall pay the Agent for the account of the Borrower such interest refund not later than five Business Days after written notice from the Agent to the Lenders.