Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent. (b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan: (i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and (ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and the rate which would have applied if the overdue amount had not become due. (c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 4 contracts
Sources: Bond Bridge Facility Agreement (Coca-Cola HBC AG), Squeeze Out Facility Agreement (Coca-Cola HBC AG), Squeeze Out Facility Agreement (Coca-Cola HBC AG)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (bii) below, is the sum of 1 two (2) per cent. and per annum higher than:
(i) in respect of a Loan, the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan under the relevant Facility in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably); and
(ii) in respect of an Overdraft Facility, the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted an Overdraft Facility of the type to which the overdue amount relates in the currency of the overdue. Any interest accruing under this Clause 8.3 clause 11.4 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan Utilisation which became due on a day which was not the last day of an Interest Period relating to that LoanUtilisation:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that LoanUtilisation; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two (2) per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 4 contracts
Sources: Amendment and Restatement Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.), Amendment and Restatement Agreement (Aegean Marine Petroleum Network Inc.)
Default Interest. (a) If an Obligor the Company or any Guarantor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. and 1.00% higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Note for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 Section 6.3 shall be immediately payable by the Obligor Company or such Guarantor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan Note which became due on a day which was not the last day of an Interest Period relating to that LoanNote:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that LoanNote; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and 1.00% higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Sources: Senior Unsecured Facility Agreement (TPG Advisors IV, Inc.), Senior Secured Facility Agreement (TPG Advisors IV, Inc.), Pik Facility Agreement (TPG Advisors IV, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Sources: Loan Agreement (Intercontinental Hotels Group PLC /New/), Dual Currency Term Facility Agreement (Xstrata PLC), Loan Facility Agreement (Falconbridge LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (bclause 8.3(b) below, is the sum of 1 two per cent. and cent per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent Lender (acting reasonably). Any interest accruing under this Clause clause 8.3 shall be immediately payable by the Obligor Obligors on demand by the Facility AgentLender.
(b) If any overdue amount consists of all or part of a Loan and which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and cent per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Sources: Uncommitted Borrowing Base Facility Agreement (Hafnia LTD), Uncommitted Borrowing Base Facility Agreement (Hafnia LTD), Uncommitted Borrowing Base Facility Agreement (Hafnia LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Sources: Facility Agreement (Intercontinental Hotels Group PLC /New/), Facility Agreement (Intercontinental Hotels Group PLC /New/), Facility Agreement (Intercontinental Hotels Group PLC /New/)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall shall, to the extent permitted by law, accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one (1) per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one (1) per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded (to the extent permitted under applicable law) with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Sources: Senior Facilities Agreement (Atlas Investissement), Senior Facilities Agreement (Atlas Investissement), Senior Facilities Agreement (Atlas Investissement)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and (2%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility COFACE Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor Borrower on demand by the Facility COFACE Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and (2%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Sources: Coface Facility Agreement (Globalstar, Inc.), Coface Facility Agreement (Globalstar, Inc.), Facility Agreement (Globalstar, Inc.)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgmentjudgement) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Sources: Facility Agreement (Bunge LTD), Facility Agreement (Bunge LTD), Facility Agreement (Bunge LTD)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (bc) below, is the sum of 1 3.00 (three) per cent. and per annum higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a the Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). .
(b) Any interest accruing under this Clause 8.3 8.4 (Default Interest) shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(bc) If any overdue amount consists of all or part of a the Loan which became due on a day which was not prior to the last day of an Interest Period relating to that LoanFinal Maturity Date:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of period to the current Interest Period relating to that LoanFinal Maturity Date; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be the sum of 1 3.00 (three) per cent. and higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(cd) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount at Unpaid Sum on the end of each next Interest Period applicable to that overdue amount Payment Date but will remain immediately due and payable.
(e) Any default interest that would otherwise be applicable in respect of any Unpaid Sums due upon an Event of Default resulting from the breach of Clause 22.1 (Completion and Operation) shall not be applicable in respect of any period in which the increase in PIK Interest applies pursuant to that clause.
Appears in 3 contracts
Sources: Secured Term Loan Facility (Mohegan Tribal Gaming Authority), Secured Term Loan Facility, Secured Term Loan Facility
Default Interest. (a) If an Obligor the Company fails to pay any amount payable by it under a PIK Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the PIK Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable capitalised by the Obligor Company on demand by the PIK Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Sources: Pik Facility Agreement (Nordic Telephone CO ApS), Pik Facility Agreement (Nordic Telephone CO ApS), Pik Facility Agreement (Nordic Telephone CO ApS)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two (2) per cent. and cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). If any Event of Default has occurred and is continuing under any Finance Documents and notice thereof has been sent from the Agent to the Borrower, all outstanding amounts shall be deemed overdue and default interest (as specified above) will be calculated. Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two (2) per cent. and cent higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Facility Agreement (Nordic American Offshore Ltd.), Facility Agreement (Nordic American Offshore Ltd.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 2.00 per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 11.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan and which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 2.00 per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate whichrate, subject to paragraph (b) belowClause 6.4(b), that is the sum of 1 two per cent. and per annum higher than the rate which that would have been payable if the overdue amount hadamount, during the period of non-payment, had constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Relevant Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 6.4 immediately shall be immediately payable by the Obligor on demand by the Relevant Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which that became due on a day which that was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and per annum higher than the rate which that would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will shall be compounded (to the extent permitted by law)2 with the overdue amount at the end of each Interest Period applicable to that overdue amount but will shall remain immediately due and payable.
Appears in 2 contracts
Sources: Project Facilities Agreement and Intercreditor Agreement (Pacific Drilling S.A.), Project Facilities Agreement and Intercreditor Agreement (Pacific Drilling S.A.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) and (c) below, is the sum of 1 2 per cent. cent per annum and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 11.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 2 per cent. cent per annum and the rate which would have applied if the overdue amount had not become due.
(c) If any overdue amount relates in any way to a Letter of Credit, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, in respect of each Lender, is the sum of:
(i) the cost of funds of each Lender's participation if the overdue amount had, during the period of non-payment, constituted a loan denominated in the currency of the relevant Letter of Credit; plus
(ii) 3 per cent per annum; plus
(iii) 2 per cent per annum.
(d) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Syndicated Facility Agreement (Metals Acquisition LTD), Syndicated Facility Agreement (Metals Acquisition Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (bClause 5.1.3(a) below, is the sum of 1 two (2) per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a the Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 5.1.3 shall be immediately payable by the Obligor on demand by the Facility AgentLender.
(b) If any overdue amount consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two (2) per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Term Facility Agreement (Grindrod Shipping Holdings Ltd.), Term Facility Agreement (Grindrod Shipping Holdings Ltd.)
Default Interest. (a) If an Obligor or the Parent fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a the Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the Obligor or the Parent on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that LoanPeriod:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Facility Agreement (Baring Asia Private Equity Fund v Co-Investment L.P.), Facility Agreement (Giant Interactive Group Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Senior Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 12.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Senior Facilities Agreement (Nordic Telephone CO ApS), Senior Facilities Agreement (Nordic Telephone CO ApS)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and (2%) higher than the rate which would have been payable if the overdue amount had, during the period of non-paymentnon‑payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility BPIFAE Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor Borrower on demand by the Facility BPIFAE Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and (2%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Bpifae Facility Agreement (Globalstar, Inc.), Bpifae Facility Agreement (Globalstar, Inc.)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and (2%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency Utilisation of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 8.5 (Default Interest) shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that LoanPeriod:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that LoanPeriod; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and (2%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Facility Agreement, Facility Agreement (McDermott International Inc)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the that overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 2% per cent. and annum higher than the rate which would have been payable if the that overdue amount had, during the period of such non-payment, constituted a the Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the that Obligor on demand by the Facility Agent.
(b) If any overdue amount under any Finance Document consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that the Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the that overdue amount during that first Interest Period shall be the sum of 1 2% per cent. and annum higher than the rate which would have applied if the that overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount under any Finance Document will be compounded with the that overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Facility Agreement (WuXi PharmaTech (Cayman) Inc.), Facility Agreement (WuXi PharmaTech (Cayman) Inc.)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and (2%) per annum higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a part of the Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Facility Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by the Obligor Borrower on demand by the Facility AgentLender.
(b) If any overdue amount Unpaid Sum consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that the Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be the sum of 1 two per cent. and (2%) per annum higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 2 contracts
Sources: Facility Agreement (Sequoia Capital China I Lp), Facility Agreement (Chiu Na Lai)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.4 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount (or such later date permitted by applicable law) but will remain immediately due and payable.
(d) Each Borrower shall, within three Business Days of demand by a Finance Party, pay to that Finance Party its Break Costs attributable to all or any part of an Unpaid Sum being paid by that Borrower on a day other than the last day of an Interest Period for that Unpaid Sum. Each Lender shall, as soon as reasonably practicable after a demand by the Facility Agent, provide a certificate confirming in reasonable detail the amount of its Break Costs for any Interest Period in which they accrue.
Appears in 2 contracts
Sources: Permanent Facility Agreement (Groupe Eurotunnel SA), Permanent Facility Agreement (Groupe Eurotunnel SA)
Default Interest. (a) If an a Primary Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and cent (2.0%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.4 shall be immediately payable by the Primary Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and cent (2.0%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Syndicated Facility Agreement (Equinix Inc), Facility Agreement (Equinix Inc)
Default Interest. (a) 8.3.1 If an Obligor fails to pay any amount (other than interest) payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) 8.3.2 below, is the sum of 1 one per cent. and cent per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor on demand by the Facility an Agent.
(b) 8.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and cent per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) 8.3.3 Default interest (if unpaid) arising on an overdue amount will not be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but and will remain immediately due and payable.
Appears in 2 contracts
Sources: Loan Agreement (Luxottica Group Spa), Term Facility Agreement (Luxottica Group Spa)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 2 per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor Borrower on demand by the Facility AgentLender.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 2 per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Facility Agreement (Mobile Telesystems Ojsc), Facility Agreement (Mobile Telesystems Ojsc)
Default Interest. (a) 8.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document (other than a Hedging Contract) on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) clause 8.3.2 below, is the sum of 1 two point zero per cent. and cent (2.0%) higher than the rate which would have been payable if of interest most recently calculated (prior to the overdue amount had, during the period of non-payment, constituted a Loan in the currency due date of the overdue amount amount) pursuant to clause 8.1 (Calculation of interest), for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under in accordance with this Clause clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) 8.3.2 If any overdue amount consists of all or part of a the Loan or, as the case may be, an Advance which became due on a day which was not the last day of an Interest Period relating to that LoanAdvance or the relevant part of it:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loanthe Loan or Advance; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two point zero per cent. and cent (2.0%) per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) 8.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Facility Agreement (Navigator Holdings Ltd.), Facility Agreement (Navigator Holdings Ltd.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Default Interest Periods, each of a duration selected by the Facility Agent (acting reasonably)Rate. Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Revolving Facility Loan which became due on a day which was not the last day of an Interest Period a Repayment Date relating to that Revolving Facility Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Revolving Facility Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Amendment and Restatement Agreement (Cascal N.V.), Amendment and Restatement Agreement (Cascal N.V.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 2 per cent. per annum and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Revolving Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.6 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan other than an RFR Revolving Loan and which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 2 per cent. per annum and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Amendment and Restatement Agreement (Cboe Global Markets, Inc.), Amendment and Restatement Agreement (Cboe Global Markets, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document (other than a Hedging Contract) on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph Clause 8.3(b) (bDefault interest) below, is the sum of 1 2% per cent. and annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount an Advance for successive ninety (90)-day Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under in accordance with this Clause 8.3 shall be immediately payable by the Obligor Obligors on demand by the Facility Administrative Agent.
(b) If any overdue amount consists of all or part of a Loan an Advance which became due on a day which was not the last day of an Interest Period relating to that Loansuch Advance or the relevant part of it:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loansuch Advance; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 2% per cent. and annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Loan Agreement (Dorian LPG Ltd.), Loan Agreement (Dorian LPG Ltd.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue to the fullest extent permitted by law on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 2 per cent. and the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion Loan then upon expiry of the current Interest Period relating to that Loan; and
Loan such Loan shall have an Interest Period of a duration selected by the Agent (iiacting reasonably) and the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be the sum of 1 2 per cent. and the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 2 contracts
Sources: Facility Agreement (Synnex Corp), Facility Agreement (Synnex Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Bridge Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a an Initial Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Bridge Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor on demand by the Bridge Facility Agent.
(b) If any overdue amount consists of all or part of a an Initial Loan which became due on a day which was not the last day of an Interest Period relating to that Initial Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Initial Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Bridge Facility Agreement (Nordic Telephone CO ApS), Bridge Facility Agreement (Nordic Telephone CO ApS)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document the Facilities on its due date, interest Default Interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. cent and the rate Rate of Interest which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount sterling for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. cent and the rate Rate of Interest which would have applied if the overdue amount had not become due.
(c) Default interest Interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Term and Letter of Credit Facility Agreement (Cascal B.V.), Subordinated Secured Term and Letter of Credit Facility Agreement (Cascal B.V.)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Facility Agreement (Polestar Automotive Holding UK PLC), Facility Agreement (Polestar Automotive Holding UK PLC)
Default Interest. (a) 13.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue to the fullest extent permitted by law on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) 13.3.2 below, is the sum of 1 one per cent. and cent (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 13.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) 13.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and cent (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) 13.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount only if, within the meaning of Article 1154 of the French Code Civil, such interest is due for a period of at the end of each Interest Period applicable to that overdue amount least one (1) year, but will remain immediately due and payable.
Appears in 2 contracts
Sources: Credit Agreement (Axa Financial Inc), Credit Agreement (Axa Financial Inc)
Default Interest. (a) If an Obligor fails the Borrowers fail to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two (2) per cent. and cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). If any Event of Default has occurred and is continuing under any Finance Documents and notice thereof has been sent from the Agent to the Borrowers, all outstanding amounts shall be deemed overdue and default interest (as specified above) will be calculated. Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the Obligor Borrowers on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two (2) per cent. and higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Facility Agreement (DHT Holdings, Inc.), Facility Agreement (DHT Holdings, Inc.)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 (one) per cent. per annum and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in under the currency of the overdue amount Facility for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by the Obligor Borrower on demand by the Facility AgentAgent (acting on the instructions of the Majority Lenders).
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that such Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that such Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. per annum and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will will, to the extent permitted by applicable law, be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Amendment and Restatement Agreement (Atlas Investissement), Facility Agreement (Atlas Investissement)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Senior Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 12.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Senior Facility Agreement (Inmarsat Holdings LTD), Senior Facility Agreement (Inmarsat Launch CO LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 2 per cent. and per annum higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted part of a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably)Agent. Any interest accruing under this Clause 8.3 (Default interest) shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount an Unpaid Sum consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that the Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount that Unpaid Sum during that first Interest Period shall be the sum of 1 2 per cent. and per annum higher than the rate which would have applied if the overdue amount that Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising accruing on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 2 contracts
Sources: Term Loan Facility (Grindrod Shipping Holdings Ltd.), Facility Agreement (Grindrod Shipping Holdings Pte. Ltd.)
Default Interest. (a) If an Obligor any Borrower or Guarantor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two (2) per cent. and cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a the Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably)) above the Margin. Any interest accruing under this Clause 8.3 (Default interest) shall be immediately payable by the Obligor Borrowers and/or the Guarantor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that the Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two (2) per cent. and cent higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Term Loan Facility Agreement (DHT Holdings, Inc.), Term Loan Facility Agreement (DHT Holdings, Inc.)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgmentjudgement) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Facility Agreement (Bunge LTD), Facilities Agreement (Bunge LTD)
Default Interest. (a) If an Obligor fails to pay any amount (other than interest) payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.4 shall be immediately payable by the Obligor on demand by the Facility an Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will not be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but and will remain immediately due and payable.
Appears in 2 contracts
Sources: Multicurrency Revolving Facility Agreement (Luxottica Group Spa), Facility Agreement (Luxottica Group Spa)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgmentjudgement) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.5 shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Term SOFR Rate Loan and which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Sources: Revolving Facility Agreement (Bunge Global SA), Facility Agreement (Bungeltd)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and higher than the rate which would have been payable if the overdue amount had, during the period of non-non payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 9.3 (Default Interest) shall be immediately payable by the Obligor on demand by the Facility AgentLender.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) belowabove, is the sum of 1 [***] per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.4 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 [***] per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Bridge Facility Agreement (Ses S.A.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance an Interim Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a an Interim Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Interim Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the that Obligor on demand by the Interim Facility Agent.
(b) If any overdue amount consists of all or part of a an Interim Loan which became due on a day which was not the last day of an Interest Period relating to that Interim Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Interim Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Interim Facility Letter (Platform Specialty Products Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b(b) below, is the sum of 1 two (2) per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted an issuance of Notes of the same type as the issuance of Notes in respect of which the overdue amount has arisen or, if the unpaid amount did not arise in respect of a Loan particular issuance of Notes, in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 12.4 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan an issuance of Notes which became due on a day which was not the last day of an Interest Period relating to that Loanissuance of Notes:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loanissuance of Notes; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one (1) per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Senior Notes Purchase Agreement (Inspired Entertainment, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 2 per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 2 per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Revolving Senior Secured Credit Facility Agreement (Gold Fields LTD)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 2 per cent. cent and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a part of the Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that the Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 2 per cent. cent and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, or after the occurrence of an Event of Default and for so long as that Event of Default is continuing, interest shall accrue on the overdue amount and any other amount owed to the Finance Parties, whether or not due, from the due date of that amount or the date of that Event of Default, as the case may be, up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 2 per cent. cent and the rate which would have been payable if the overdue amount such amounts had, during the period of non-paymentrelevant period, constituted a Loan in the currency of the overdue amount such amounts for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any Event of Default occurs on, or any overdue amount consists of all or part of a Loan which became due on on, a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount which default interest accrues shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue relevant amount during that first Interest Period shall be the sum of 1 2 per cent. cent and the rate which would have applied if the overdue amount had not become duedue or the Event of Default had not occurred.
(c) Default interest (if unpaid) arising on an overdue the relevant amount will be compounded with the overdue that amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Facility Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgmentjudgement) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 2 per cent. and higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Facility Agreement (Centerpulse LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 2 per cent. p.a. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Revolving Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.6 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan other than an RFR Revolving Loan and which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 2 per cent. p.a. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Amendment and Restatement Agreement (Cboe Global Markets, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 16.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan or Alternative Loan which became due on a day which was not the last day of an Interest Period relating to that Loan or Alternative Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan or Alternative Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Revolving Facilities Agreement (Manchester United Ltd.)
Default Interest. (a) If an Obligor fails to pay any amount (other than interest) payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by the Obligor on demand by the Facility an Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will not be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but and will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, which is the sum of 1 per cent. per annum and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably).
(b) If the overdue amount is principal of a Loan and became due on a day other than the last day of an Interest Period relating to that Loan, the first Interest Period applicable to that overdue amount shall be of a duration equal to the unexpired portion of that Interest Period and the rate of interest on that overdue amount for that Interest Period shall be the sum of 1 per cent. per annum and the rate applicable to it immediately before it became due.
(c) Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and the rate which would have applied if the overdue amount had not become due.
(cd) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an a Relevant Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 2 per cent. and higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the Relevant Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 2 per cent. and higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Senior Facilities Agreement (Melco PBL Entertainment (Macau) LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document (other than a Hedging Contract) on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (bclause 8.4(b) below, is the sum of 1 two point zero per cent. and cent (2.0%) higher than the rate which would have been payable if of interest most recently calculated (prior to the overdue amount had, during the period of non-payment, constituted a Loan in the currency due date of the overdue amount amount) pursuant to clause 8.1 (Calculation of interest), for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under in accordance with this Clause 8.3 clause 8.4 shall be immediately payable by the Obligor on demand by the Facility Agent.. UK-#396550026-v7
(b) If any overdue amount consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that Loanthe Loan or the relevant part of it:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two point zero per cent. and cent (2.0%) per annum higher than the rate which would have applied if the overdue amount had not become due.
(ca) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate whichrate, subject to paragraph (b) belowClause 6.4(b), that is the sum of 1 two per cent. and per annum higher than the rate which that would have been payable if the overdue amount hadamount, during the period of non-payment, had constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Relevant Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 6.4 immediately shall be immediately payable by the Obligor on demand by the Relevant Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which that became due on a day which that was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and per annum higher than the rate which that would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will shall be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will shall remain immediately due and payable.
Appears in 1 contract
Sources: Amendment and Restatement Agreement (Pacific Drilling S.A.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Revolving Facility Loan in the currency US Dollars of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Revolving Facility Loan which became due on a day which was not the last day of an Interest Period a Repayment Date relating to that Revolving Facility Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Revolving Facility Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Facility Agreement (Cascal B.V.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the that Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.. Table of Contents
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 2 per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan Notes Subscription in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 13.4 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan Notes Subscription which became due on a day which was not the last day of an Interest Period relating to that LoanNotes Subscription:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that LoanNotes Subscription; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Notes Purchase Agreement (Membership Collective Group Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (bclause 8.3(b) below, is the sum of 1 two point zero per cent. and cent (2.0%) higher than the rate which would have been payable if of interest most recently calculated (prior to the overdue amount had, during the period of non-payment, constituted a Loan in the currency due date of the overdue amount amount) pursuant to clause 8.1 (Calculation of interest), for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under in accordance with this Clause clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that Loanthe Loan or the relevant part of it:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two point zero per cent. and cent (2.0%) per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 19.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Amendment and Restatement Agreement (Rockwood Holdings, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due..
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Unsecured NGN Term Facility Agreement (IHS Holding LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document (other than a Hedging Contract) on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b8.3(b) below, is the sum of 1 two point zero per cent. and cent (2.0%) higher than the rate which would have been payable if of interest most recently calculated (prior to the overdue amount had, during the period of non-payment, constituted a Loan in the currency due date of the overdue amount amount) pursuant to clause 8.1 (Calculation of interest), for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under in accordance with this Clause clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a any Loan which became due on a day which was not the last day of an Interest Period relating to that LoanLoan or the relevant part of it:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two point zero per cent. and cent (2.0%) per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Unsecured NGN Revolving Credit Facility Agreement (IHS Holding LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 15.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Senior Facilities Agreement (Central European Distribution Corp)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and cent per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) 8.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document (other than a Hedging Contract) on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) clause 8.3.2 below, is the sum of 1 two point zero per cent. and cent (2.0%) higher than the rate which would have been payable if of interest most recently calculated (prior to the overdue amount had, during the period of non-payment, constituted a Loan in the currency due date of the overdue amount amount) pursuant to clause 8.1 (Calculation of interest), for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under in accordance with this Clause clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) 8.3.2 If any overdue amount consists of all or part of a Loan Tranche or, as the case may be, an Advance which became due on a day which was not the last day of an Interest Period relating to that LoanTranche or Advance or the relevant part of it:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loanthe Tranche or Advance; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two point zero per cent. and cent (2.0%) higher than the rate which would have applied if the overdue amount had not become due.
(c) 8.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. (2%) and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. (2%) and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
(d) Any interest accruing under this Clause 8.4 shall be immediately payable by the Borrower on demand by the Facility Agent.
Appears in 1 contract
Sources: $300,000,000 Ekn Supported Facility Agreement (Mobile Telesystems Ojsc)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, which is the sum of 1 per cent. per annum and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably).
(b) If the overdue amount is principal of a Loan and became due on a day other than the last day of an Interest Period relating to that Loan, the first Interest Period applicable to that overdue amount shall be of a duration equal to the unexpired portion of that Interest Period and the rate of interest on that overdue amount for that Interest Period shall be the sum of 1 per cent. per annum and the rate applicable to it immediately before it became due.
(c) Any interest accruing under this Clause 8.3 11.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and the rate which would have applied if the overdue amount had not become due.
(cd) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Facilities Agreement (Coca-Cola Hellenic Bottling Co Sa)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (bc) below, is the sum of 1 2 per cent. per annum and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Mezzanine Agent (acting reasonably). .
(b) Any interest accruing under this Clause 8.3 8.4 shall be immediately payable by the Obligor on demand by the Facility Mezzanine Agent.
(bc) If any overdue amount consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that the Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 2 per cent. per annum and the rate which would have applied if the overdue amount had not become due.
(cd) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Mezzanine Facility Agreement (American Realty Capital Global Trust II, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the such overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two (2) per cent. and per annum higher than the rate which would have been payable if the such overdue amount had, during the period of non-payment, constituted a Loan in the currency of the such overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 on any overdue amount owing by an Obligor shall be immediately payable by the that Obligor on demand by the Facility Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount that Unpaid Sum during that first Interest Period shall be the sum of 1 two (2) per cent. and per annum higher than the rate which would have applied if the overdue amount that Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount any Unpaid Sum will be compounded with the overdue amount that Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 1 contract
Sources: Senior Facilities Agreement (OneSmart International Education Group LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably)) of up to three Months. Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Facility Agreement (Solutia Inc)
Default Interest. (a) 10.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) belowClause 10.3.2, is the sum of 1 2.00 per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) 10.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 2.00 per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) 10.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 [***] per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 8.4 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 [***] per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Facility Agreement (Ses S.A.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and cent (2%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 12.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 rate which is two per cent. and cent (2%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Second Supplemental Facility Agreement (Paradigm Ltd.)
Default Interest. (a) If an Obligor the any Borrower or Guarantor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two (2) per cent. and cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a the Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably)) above the Margin. Any interest accruing under this Clause 8.3 (Default interest) shall be immediately payable by the Obligor Borrowers and/or the Guarantor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that such Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that such Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two (2) per cent. and cent higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Term Loan Facilities Agreement (DHT Holdings, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph paragraphs (b) and (c) below, is the sum of 1 per cent. * and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan Utilisation in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:Loan:-
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. cent and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) 8.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document (other than a Hedging Contract) on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) clause 8.3.2 below, is the sum of 1 two point zero per cent. and cent (2.0%) higher than the rate which would have been payable if of interest most recently calculated (prior to the overdue amount had, during the period of non-payment, constituted a Loan in the currency due date of the overdue amount amount) pursuant to clause 8.1 (Calculation of interest), for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under in accordance with this Clause clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) 8.3.2 If any overdue amount consists of all or part of a Loan Tranche which became due on a day which was not the last day of an Interest Period relating to that LoanTranche or the relevant part of it:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loanthe Tranche; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two point zero per cent. and cent (2.0%) higher than the rate which would have applied if the overdue amount had not become due.
(c) 8.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by of one Month or such other period as the Facility Agent (acting reasonably)may from time to time select. Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Term Loan Facilities Agreement (Sterlite Industries (India) LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. 2% and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by the Obligor on within three Business Days of demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. 2% and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Mgo Facility Agreement
Default Interest. (a) If an Obligor the Borrower or the Sponsor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two (2) per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Administrative Agent (acting reasonably). Any interest accruing under this Clause 8.3 11.3 shall be immediately payable by the Obligor Borrower on demand by the Facility Administrative Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two (2) per cent. and cent per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Borrowing Base Facility Agreement (Cobalt International Energy, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and (2%) higher than the rate which would have been payable if the overdue amount had, during the period of non-paymentnon‑payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 (Default Interest) shall be immediately payable by the Obligor Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and (2%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 8.5 shall be immediately payable by the that Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a havea duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document (other than a Hedging Contract) on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (bclause 8.3(b) below, is the sum of 1 two point zero per cent. and cent (2.0%) higher than the rate which would have been payable if of interest most recently calculated (prior to the overdue amount had, during the period of non-payment, constituted a Loan in the currency due date of the overdue amount amount) pursuant to clause 8.1 (Calculation of interest), for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under in accordance with this Clause clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that Loanthe Loan or the relevant part of it:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two point zero per cent. and cent (2.0%) per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.5 shall be immediately payable by the Obligor on demand by the Facility Agent.. Back to Contents
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payableamount.
Appears in 1 contract
Default Interest. (a) If an Obligor party hereto fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the such overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two (2) per cent. and per annum higher than the rate which would have been payable if the such overdue amount had, during the period of non-payment, constituted a Loan in the currency of the such overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 on any overdue amount owing by an Obligor party hereto shall be immediately payable by the that Obligor on demand by the Facility Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount that Unpaid Sum during that first Interest Period shall be the sum of 1 two (2) per cent. and per annum higher than the rate which would have applied if the overdue amount that Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount any Unpaid Sum will be compounded with the overdue amount that Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two (2) per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 14.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and;
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two (2) per cent. and higher than the rate which would have applied if the overdue amount had not become due.; and
(ciii) Default default interest (if unpaid) due by an Obligor, and arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Super Senior Revolving Credit Facilities Agreement (Atento S.A.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall will accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (bc) below, is the sum of 1 2% per cent. and annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of with a duration and Quotation Day selected by the Facility Agent (acting reasonably). .
(b) Any interest accruing under this Clause 8.3 shall 13.3 will be immediately payable by the Obligor on demand by the Facility Agent.
(bc) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an its Interest Period relating to that LoanPeriod:
(i) the first Interest Period for that overdue amount shall will have a duration equal to the unexpired portion of the then current Interest Period relating to that Loan; andand
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall will be the sum of 1 2% per cent. and annum higher than the rate which would have applied if the overdue amount had not become due.
(cd) Default Unpaid interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Amendment and Restatement Agreement (IHS Holding LTD)
Default Interest. (a) 8.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document (other than a Hedging Contract) on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) clause 8.3.2 below, is the sum of 1 two point zero per cent. and cent (2.0%) higher than the rate which would have been payable if of interest most recently calculated (prior to the overdue amount had, during the period of non-payment, constituted a Loan in the currency due date of the overdue amount amount) pursuant to clause 8.1 (Calculation of interest), for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under in accordance with this Clause clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) 8.3.2 If any overdue amount consists of all or part of a Loan or, as the case may be, an Advance which became due on a day which was not the last day of an Interest Period relating to that LoanAdvance or the relevant part of it:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loanthe relevant Loan or Advance; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two point zero per cent. and cent (2.0%) per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) 8.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If To the extent permitted under applicable law, if an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 one per cent. and cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 11.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and higher than the rate which would have applied if the overdue amount had not become due.
(c) Default To the extent permitted under applicable law, default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 [***] per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-paymentnon‑payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 11.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
. 82 (b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 [***] per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue or, insofar as it relates to unpaid interest, lump sum damages shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, which is the sum of 1 one per cent. and higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). In the case of lump sum damages the relevant Obligor shall be free to prove that no damages have arisen or that damages have not arisen in the asserted amount. Any interest or lump sum damages accruing under this Clause 8.3 11.4 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest Each Finance Party shall be entitled to claim from the relevant Borrower further compensation for any further losses (if unpaidi.e. not compensated for by the operation of Clause 11.4(a) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable11.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a the Finance Document Documents on its due date, it must immediately on demand by the Facility Agent pay interest shall accrue on the overdue amount from the its due date up to the date of actual payment (payment, both before and after judgment.
(b) Interest on an overdue amount is payable at a rate which, subject determined by the Facility Agent to paragraph (b) below, is the sum of 1 be two per cent. and per annum above the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(bc) If any overdue amount consists of all or part of a Loan which became and becomes due on a day which was not and payable before the last day of an Interest Period relating to for that Loan, then:
(i) the first Interest Period for that overdue amount shall have a duration equal to will be the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to on the overdue amount during for that first Interest Period shall will be the sum of 1 one per cent. and per annum above the rate which would have applied if the overdue amount had not become due.
(cd) Default interest (if unpaid) arising on an overdue amount will be compounded with the that overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document (other than a Hedging Contract) on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (bclause 8.3(b) below, is the sum of 1 two point zero per cent. and cent (2.0%) higher than the rate which would have been payable if of interest most recently calculated (prior to the overdue amount had, during the period of non-payment, constituted a Loan in the currency due date of the overdue amount amount) pursuant to clause 8.1 (Calculation of interest), for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under in accordance with this Clause clause 8.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that LoanLoan or the relevant part of it:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two point zero per cent. and cent (2.0%) per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 1 two per cent. and (2%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3(a) shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 two per cent. and (2%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default To the extent permitted under any applicable law and/or regulation, default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Term Loan Facility Agreement (Amc Entertainment Holdings, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) belowclause 10.3(b), is the sum of 1 one per cent. and per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 clause 10.3 shall be immediately payable by the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 1 one per cent. and per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Sources: Multicurrency Revolving Facility Agreement (Reuters Group PLC /Adr/)