Common use of Interest Payment Dates; Interest and Fee Basis Clause in Contracts

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, and at maturity. Interest accrued on each Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Base Rate Advance or any Fixed Rate Advance that is bearing interest at the Alternate Base Rate pursuant to Article 8 shall be calculated for actual days elapsed on the basis of a 365-day or 366-day year, as the case may be. Interest on all Advances other than Base Rate Advances and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and fees (including, without limitation, Facility Fees and LC Fees) shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Eurocurrency Ratable Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received at the place of payment prior to noon (local time) or at such other time as shall be specified for such payment under this Agreement.

Appears in 2 contracts

Sources: Long Term Credit Agreement (Emerson Electric Co), Long Term Credit Agreement (Emerson Electric Co)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofEffective Date, and at maturity. Interest accrued on each Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Base Rate Advance or any Fixed Rate Advance that is bearing interest at the Alternate Base Rate pursuant to Article 8 shall be calculated for actual days elapsed on the basis of a 365-day or 366-day year, as the case may be. Interest on all Advances other than Base Rate Advances and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and fees (including, without limitation, Facility Fees and LC Fees) shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Eurocurrency Ratable Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received at the place of payment prior to noon (local time) or at such other time as shall be specified for such payment under this Agreement.

Appears in 2 contracts

Sources: Credit Agreement (Emerson Electric Co), Credit Agreement (Emerson Electric Co)

Interest Payment Dates; Interest and Fee Basis. (a) Interest accrued on each Base Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturitythe Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. (b) Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturitythe Facility Termination Date. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. . (c) Interest accrued on each Base LIBOR Market Rate Advance or shall be payable on any Fixed date on which such LIBOR Market Rate Advance that is paid in full, whether due to acceleration or otherwise, and on the date such LIBOR Market Index Rate Advance shall become due and payable pursuant to Section 2.2(b). (d) Interest on Floating Rate Advances bearing interest at the Alternate Base Prime Rate pursuant to Article 8 shall be calculated for actual days elapsed on the basis of a 365-day , or 366-when appropriate, 366 day year, as the case may be. Interest on All other interest and all Advances other than Base Rate Advances and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and fees (including, without limitation, Facility Fees and LC Fees) shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Eurocurrency Ratable Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received at the place of payment prior to noon (local time) or at such other time as shall be specified for such payment under this Agreement.day

Appears in 1 contract

Sources: Credit Agreement (Idacorp Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, and at maturity. Interest accrued on each Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Base Rate Advance or any Fixed Rate Advance that is bearing interest at the Alternate Base Rate pursuant to Article 8 shall be calculated for actual days elapsed on the basis of a 365-day or 366-day year, as the case may be. Interest on all Advances other than Base Rate Advances and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and fees (including, without limitation, Facility Commitment Fees and LC Fees) shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Eurocurrency Ratable Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received at the place of payment prior to noon (local time) or at such other time as shall be specified for such payment under this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Emerson Electric Co)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, and at maturity. Interest accrued on each Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Base Rate Advance or any Fixed Rate Advance that is bearing interest at the Alternate Base Rate pursuant to Article 8 shall be calculated for actual days elapsed on the basis of a 365-day or 366-day year, as the case may be. Interest on all Advances other than Base Rate Advances and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and fees (including, without limitation, Facility Fees and LC Fees) shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Eurocurrency Ratable Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received at the place of payment prior to noon (local time) or at such other time as shall be specified for such payment under this Agreement.

Appears in 1 contract

Sources: Long Term Credit Agreement (Emerson Electric Co)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Alternate Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Base Rate Advance or any Fixed Rate Advance that is bearing interest at the Alternate Base Rate pursuant to Article 8 shall be calculated for actual days elapsed on the basis of a 365-day or 366-day year, as the case may be. Interest on all Advances other than Base Rate Eurodollar Advances and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and commitment fees (including, without limitation, Facility Fees and LC Fees) shall be calculated for actual days elapsed on the basis of a 360-day year, except for and interest on Eurocurrency Ratable Alternate Base Rate Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-, or when appropriate 366, day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received at the place of payment prior to noon (local time) or at such other time as shall be specified for such payment under this Agreement.if

Appears in 1 contract

Sources: Credit Agreement (Lafarge Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofhereof upon which a Floating Rate Advance is then outstanding, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Fixed Rate Eurodollar Advance shall be payable in arrears on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Base Rate Advance or any Fixed Rate Advance that is bearing interest at the Alternate Base Rate pursuant to Article 8 shall be calculated for actual days elapsed on the basis of a 365-day or 366-day year, as the case may be. Interest on all Advances other than Base Rate Advances Loans and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and commitment fees (including, without limitation, Facility Fees and LC Fees) shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Eurocurrency Ratable Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received at the place of payment prior to noon (local time) at the place of payment. If any payment of principal of or at interest on an Advance shall become due on a day which is not a Business Day, such other time as payment shall be specified for made on the next succeeding Business Day and, in the case of a principal payment, such payment under this Agreementextension of time shall be included in computing interest in connection with such payment.

Appears in 1 contract

Sources: Credit Agreement (Alleghany Corp /De)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Floating Rate Advance Loan and each Swing Loan (if not earlier paid in accordance with SECTION 2.11) shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, and, with respect to any Swing Loan, on any date on which such Swing Loan is repaid or prepaid, whether due to acceleration or otherwise and at maturity. Interest accrued on each Fixed Floating Rate Loan shall also be payable on any date on which such Floating Rate Loan is prepaid or repaid due to acceleration or at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the Payment Date immediately following such conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of its the applicable Interest Period, on any date on which the Fixed Rate such Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Base Rate Advance or any Fixed Rate Advance that is bearing interest at the Alternate Base Rate pursuant to Article 8 all Eurodollar Advances shall be calculated for actual days elapsed on the basis of a 365-day or 366-day year, as the case may be. Interest on all Advances other than Base Rate Advances and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and fees (including, without limitation, Facility Fees and LC Fees) shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Eurocurrency Ratable Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received at the place of payment prior to noon (local time) or at such other time as shall be specified for such payment under this Agreement.a

Appears in 1 contract

Sources: Credit Agreement (TJX Companies Inc /De/)

Interest Payment Dates; Interest and Fee Basis. (a) Interest accrued on each Base Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturitythe Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. (b) Interest accrued on each Fixed Rate Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturitythe Facility Termination Date. Interest accrued on each Fixed Rate Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. . (c) Interest accrued on each Base LIBOR Market Rate Advance or any Fixed Rate Advance that is bearing interest at the Alternate Base Rate pursuant to Article 8 shall be calculated for actual days elapsed on the basis of a 365-day or 366-day year, as the case may be. Interest on all Advances other than Base Rate Advances and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and fees (including, without limitation, Facility Fees and LC Fees) shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Eurocurrency Ratable Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an on any date on which such LIBOR Market Rate Advance is made but not for the day of any payment paid in full, whether due to acceleration or otherwise, and on the amount paid if payment is received at the place of payment prior date such LIBOR Market Index Rate Advance shall become due and payable pursuant to noon (local time) or at such other time as shall be specified for such payment under this AgreementSection 2.2(b).

Appears in 1 contract

Sources: Credit Agreement (Idacorp Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, and at maturityon any date on which the Base Rate Advance is prepaid, whether due to acceleration or otherwise. Interest accrued on that portion of the outstanding principal amount of any Base Rate Advance converted into a SOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Fixed Rate Eurocurrency Advance or SOFR Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Fixed Rate Eurocurrency Advance or SOFR Advance, as applicable, is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Fixed Rate Eurocurrency Advance and each SOFR Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Base Rate Advance or any Fixed Rate Advance that is bearing interest at the Alternate Base Rate pursuant to Article 8 Section 2.11 shall be calculated for actual days elapsed payable on the basis of a 365-day or 366-day year, as the case may bedemand. Interest With respect to (a) interest on all Advances (other than Base Rate Loans where the interest is based on the Prime Rate and Eurocurrency Advances and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and fees (includingbased on CDOR), without limitation, Facility Commitment Fees and LC Fees) other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Eurocurrency Ratable Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received at the place of payment prior to noon (local timeyear and ii) or at such other time as shall be specified for such payment under this Agreement.57 #98230960v1

Appears in 1 contract

Sources: Credit Agreement (RXO, Inc.)