Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 5 contracts
Sources: Credit Agreement (Modine Manufacturing Co), Credit Agreement (Modine Manufacturing Co), Credit Agreement (Modine Manufacturing Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its each applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Eurocurrency each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment and fees and LC Fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local New York time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 5 contracts
Sources: Credit Agreement, Credit Agreement, Credit Agreement (Central Illinois Public Service Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, Borrowing Date with respect to such Alternate Base Rate Loan and on any date on which the Floating Alternate Base Rate Advance Loan 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversionFacility Termination Date. Interest accrued on each Eurocurrency Advance Loan shall be payable on the last day of its applicable Interest Period, Period and on any date on which the such Eurocurrency Advance Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurocurrency Advance Loan 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 pursuant to Section 2.11 shall be payable on Eurocurrency Advances demand. With respect to (a) interest on all Loans (other than Eurocurrency Advances denominated in British Pounds SterlingAlternate Base Rate Loans where the interest is based on the Alternate Base Rate), commitment Commitment Fees and other fees and LC Fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year; year and (b) interest on Floating Loans which are Alternate Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon 2:00 p.m. (local New York time), in the case of a Loan denominated in Dollars or (y) the Applicable Time, in the case of a Loan denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on an Advance a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 4 contracts
Sources: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.), Revolving Credit Agreement (Walgreens Boots Alliance, Inc.), Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. (a) Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. .
(b) Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturitythe Facility Termination Date. Interest accrued on each Eurocurrency 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 LIBOR Market Rate Advance shall be payable on any date on which such LIBOR Market Rate Advance 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 Eurocurrency Floating Rate Advances (bearing interest at the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate, 366 day year. All other than Eurocurrency Advances denominated in British Pounds Sterling), commitment interest and all fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day (except for interest payments in respect of Eurodollar Advances whose Interest Period ends on a day which is not a Business Day, and the next succeeding Business Day falls in a new calendar month, in which case interest accrued on such Eurodollar Advance shall be payable on the immediately preceding Business Day) and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 4 contracts
Sources: Credit Agreement (Idacorp Inc), Credit Agreement (Idacorp Inc), Credit Agreement (Idaho Power Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Alternate Base Rate Advance Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance Loan converted into a Eurocurrency Advance Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance Non-Absolute Bid Rate Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance Non-Absolute Bid Rate Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Advance Non-Absolute Bid Rate Loan having an Interest Period longer than three months shall also be payable on the last day of each three-three month interval during such Interest Period. Interest on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Interest, commitment fees Facility Fees and LC Utilization Fees shall be calculated for actual days elapsed on the basis of a 360-360 day year; , except that interest calculated based on Floating the Prime Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-365, or when appropriate 366, day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon (local time) at the place of payment. If Whenever any payment of principal of to the Administrative Agent or interest on an Advance shall become any Lender under the Loan Documents would otherwise be due on a day which that is not a Business Day, such payment shall instead be made due on the next succeeding Business Day; provided, however, that if such next succeeding Business Day and, falls in the case of a principal paymentnew calendar month, such extension payment shall instead be due on the immediately preceding Business Day. If the date any payment under the Loan Documents is due is extended (whether by operation of any Loan Document, Applicable Law or otherwise), such payment shall bear interest for such extended time at the rate of interest applicable hereunder. Interest at the Overdue Rate shall be included in computing interest in connection with such paymentpayable on demand.
Appears in 4 contracts
Sources: Credit Agreement (WGL Holdings Inc), Credit Agreement (WGL Holdings Inc), Credit Agreement (Washington Gas Light Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofFunding Date, on any date on which the Floating Alternate Base Rate Advance Loan 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversionMaturity Date applicable to such Alternate Base Rate Loan. Interest accrued on each Eurocurrency Advance Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Maturity Date applicable to such Eurocurrency Loan. Interest accrued on each Eurocurrency Advance Loan 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 pursuant to Section 2.11 shall be payable on Eurocurrency Advances demand. With respect to (a) interest on all Loans (other than Eurocurrency Advances denominated in British Pounds SterlingAlternate Base Rate Loans where the interest is based on the Alternate Base Rate), commitment Ticking Fees and other fees and LC Fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year; year and (b) interest on Floating Loans which are Alternate Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon 2:00 p.m. (local New York time) at the place of payment. If any payment of principal of or interest on an Advance a Loan, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 4 contracts
Sources: Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.), Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.), Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan 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 Floating Rate Advance or Swing Line Loan 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Floating Rate Advances (when the Alternate Base Rate is determined by the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, day year. All other than Eurocurrency Advances denominated in British Pounds Sterling)computations of interest, commitment fees and LC Fees and all other fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local time) at the place of payment. If Except as set forth in the second proviso to the definition of “Interest Period,” if any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest and fees in connection with such payment.
Appears in 4 contracts
Sources: Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Eurodollar Advances, Floating Rate Advances (other than Eurocurrency Floating Rate Advances denominated in British Pounds Sterlingfor which the interest rate payable is based on the Prime Rate), commitment fees and LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling for which the interest rate payable is based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local Chicago, Illinois time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 3 contracts
Sources: Credit Agreement (Chemed Corp), Credit Agreement (Chemed Corp), Credit Agreement (Chemed Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Canadian Prime Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance or Canadian Prime 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance and Offered Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance or Offered Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Advance or Offered 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 on Eurocurrency Advances Interest, LC Fees, and other fees (other than Eurocurrency Advances denominated except as provided in British Pounds Sterling), commitment fees and LC Fees the following sentence) shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Advances Loans denominated in British Pounds Sterling Sterling, Loans comprised of Floating Rate Advances, and Advances bearing interest at the Canadian Prime Rate which shall be calculated for actual days elapsed on the basis of a 365/366365-day year. Commitment Fees and Usage Fees 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 initiated received prior to 12:00 noon (local time) at the place of paymentpayment specified in Section 2.14. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 3 contracts
Sources: Credit Agreement (Cameron International Corp), Credit Agreement (Cameron International Corp), Credit Agreement (Cameron International Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on the first day of each Payment Datecalendar month, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Eurodollar Advances, commitment fees and LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local Phoenix, Arizona time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 3 contracts
Sources: Credit Agreement (Encore Capital Group Inc), Credit Agreement (Encore Capital Group Inc), Credit Agreement (Encore Capital Group Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the Floating Rate Advance or Swing Line Loan 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest ; provided that interest accrued on each Eurocurrency Eurodollar 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Eurodollar Advances, commitment fees Swing Line Loans, LC Fees and LC Commitment Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local Chicago time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 3 contracts
Sources: Revolving Credit Agreement (Applebees International Inc), Revolving Credit Agreement (Applebees International Inc), Revolving Credit Agreement (Applebees International Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan 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 Floating Rate Advance or Swing Line Loan 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Floating Rate Advances (when the Alternate Base Rate is determined by the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, day year. All other than Eurocurrency Advances denominated in British Pounds Sterling)computations of interest, commitment fees and LC Fees and all other fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest and fees in connection with such payment.
Appears in 3 contracts
Sources: Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its each applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Eurocurrency Advances each Fixed Rate Loan shall be payable on the last day of the Interest Period applicable to the Advance of which such Loan is a part and, in the case of a Fixed Rate Advance with an Interest Period of more than 90 days’ duration (other than Eurocurrency Advances denominated unless otherwise specified in British Pounds Sterlingthe applicable Competitive Bid Request), commitment each day prior to the last day of such Interest Period that occurs at intervals of 90 days’ duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive Bid Request as dates for payment of interest with respect to such Advance. Interest accrued on each Swingline Loan shall be payable in arrears on the day that such Loan is repaid or is required to be paid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances, Fixed Rate Loans and fees and LC Fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Swingline Loans shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local New York time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 3 contracts
Sources: Credit Agreement (Ameren Energy Generating Co), Credit Agreement (Ameren Energy Generating Co), Credit Agreement (Ameren Energy Generating Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance and Swingline Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Swingline Loan or 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 Floating Base Rate Advance converted into a Eurocurrency LIBOR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency LIBOR Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency LIBOR Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency LIBOR 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 with respect to any Swingline Loans shall be payable on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), the date that such Loan is required to be repaid. Interest with respect to LIBOR Loans and commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating . Interest with respect to Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. 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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 3 contracts
Sources: Credit Agreement (Sei Investments Co), Credit Agreement (Sei Investments Co), Credit Agreement (Sei Investments Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar Advance having an Interest Period longer than three months shall also be payable within three (3) Business Days following the Borrower’s receipt of an invoice (which invoice may not be delivered to the Borrower more than three (3) Business Days prior to the applicable payment date) from the Administrative Agent with respect to the period ending on the last day of each three-month interval during such Interest Period. Interest on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Interest, commitment facility fees and LC Fees Fees, other than interest based on the Floating Rate, shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest based on the Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-365- (or 366-, as the case may be) 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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 3 contracts
Sources: Credit Agreement (Lancaster Colony Corp), Credit Agreement (Lancaster Colony Corp), Credit Agreement (Lancaster Colony Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance or Indexed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance or Indexed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Advance or Indexed 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 Absolute Rate Advance shall be payable on the last day of its applicable Interest Period, on the date on which the Absolute Rate Advance is prepaid, whether by acceleration or otherwise, at maturity, and on such intervening dates prior to the maturity thereof as may be specified by the Borrower in the applicable Competitive Bid Quote Request and agreed to by the applicable Lender in the applicable Competitive Bid Quote. Notwithstanding the foregoing, interest accrued pursuant to Section 2.13 shall be payable on demand. Interest on Eurocurrency Advances, Competitive Bid Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Commitment Fees shall be calculated for actual days elapsed on the basis of a 360-day year; , and interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-day year (except for interest on Loans 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 initiated received prior to 12:00 noon (local timeLocal Time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 3 contracts
Sources: Five Year Credit Agreement (General Dynamics Corp), 364 Day Credit Agreement (General Dynamics Corp), Amendment and Restatement Agreement (General Dynamics Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Monthly Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance Loan is prepaid, whether due to acceleration or otherwise, and at maturityon the applicable Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurocurrency Eurodollar Rate Advance on a day other than a Monthly Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Floating Rate Loans, commitment fees Commitment Fees and LC Facility Letter of Credit Fees shall be calculated for actual days elapsed on the basis of a 360365-day year; interest on Floating Eurodollar Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans shall be calculated for actual days elapsed on the basis of a 365/366360-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 initiated received prior to 12:00 noon 1:00 p.m. (local Chicago time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 3 contracts
Sources: Credit Agreement (Lennar Corp /New/), Credit Agreement (Lennar Corp /New/), Credit Agreement (Lennar Corp /New/)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the Floating Rate Advance or Swing Line Loan 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest ; provided, that interest accrued on each Eurocurrency Eurodollar 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 on Eurocurrency Eurodollar Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and Swing Line Loans and LC Fees, Facility Fees and Utilization Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local Chicago time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Sources: 5 Year Revolving Credit Agreement (Acuity Brands Inc), 364 Day Revolving Credit Agreement (L&c Spinco Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Eurocurrency Advances each Fixed Rate Loan shall be payable on the last day of the Interest Period applicable to the Advance of which such Loan is a part and, in the case of a Fixed Rate Advance with an Interest Period of more than 90 days' duration (other than Eurocurrency Advances denominated unless otherwise specified in British Pounds Sterlingthe applicable Competitive Bid Request), commitment each day prior to the last day of such Interest Period that occurs at intervals of 90 days' duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive Bid Request as dates for payment of interest with respect to such Advance. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances, Fixed Rate Loans and fees and LC Fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local New York time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Sources: Five Year Revolving Credit Agreement (Union Electric Co), Revolving Credit Agreement (Union Electric Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on with respect to Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment Loans and facility fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating . Interest with respect to Alternate Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. 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 initiated made in full and received prior to 12:00 noon p.m. (local New York time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Aon PLC), Credit Agreement (Aon PLC)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the Floating Rate Advance or Swing Line Loan 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest ; provided, that interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and Swing Line Loans and LC Fees and Facility Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local Chicago time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Sources: 5 Year Revolving Credit Agreement (Zep Inc.), Revolving Credit Agreement (Acuity Brands Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its each applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Eurocurrency Advances each Fixed Rate Loan shall be payable on the last day of the Interest Period applicable to the Advance of which such Loan is a part and, in the case of a Fixed Rate Advance with an Interest Period of more than 90 days’ duration (other than Eurocurrency Advances denominated unless otherwise specified in British Pounds Sterlingthe applicable Competitive Bid Request), commitment each day prior to the last day of such Interest Period that occurs at intervals of 90 days’ duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive Bid Request as dates for payment of interest with respect to such Advance. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances, Fixed Rate Loans and fees and LC Fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local New York time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Sources: Five Year Revolving Credit Agreement (Central Illinois Public Service Co), Revolving Credit Agreement (Amerenenergy Generating Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereofEffective Date, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances to the extent not denominated in British Pounds Canadian Dollars or Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Canadian Dollars or Sterling shall be calculated for actual days elapsed on the basis of a 365/366365-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 initiated received prior to 12:00 noon Noon (local Chicago time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Viad Corp), Credit Agreement (Viad Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its each applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Eurocurrency Advances each Fixed Rate Loan shall be payable on the last day of the Interest Period applicable to the Advance of which such Loan is a part and, in the case of a Fixed Rate Advance with an Interest Period of more than 90 days’ duration (other than Eurocurrency Advances denominated unless otherwise specified in British Pounds Sterlingthe applicable Competitive Bid Request), commitment each day prior to the last day of such Interest Period that occurs at intervals of 90 days’ duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive Bid Request as dates for payment of interest with respect to such Advance. Interest accrued on each Swingline Loan shall be payable in arrears on the day that such Loan is repaid or is required to be paid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances, Fixed Rate Loans and fees and LC Fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Swingline Loans shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local New York time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Ameren Energy Generating Co), Credit Agreement
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating 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 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 each Fixed Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Eurocurrency 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 Eurocurrency Base Rate Advances denominated in British Pounds Sterling)and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and fees (including, commitment fees without limitation, Facility Fees and LC Fees Fees) shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Ratable Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365/366365-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 initiated received at the place of payment prior to 12:00 noon (local time) or at the place of payment. If any payment of principal of or interest on an Advance such other time as shall become due on a day which is not a Business Day, be specified for such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such paymentunder 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 Floating Alternate Base Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees with respect to Eurodollar Loans and LC Fees Alternate Base Rate Loans for which interest is not determined by reference to the Prime Rate shall be calculated for actual days elapsed on the basis of a 360-360 day year; . Interest with respect to Alternate Base Rate Loans for which interest on Floating is determined by reference to the Prime Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for the actual days elapsed on the basis of a 365/366-365 or 366 day year, as applicable. 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 initiated prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Term Credit Agreement (Aon Corp), Term Credit Agreement (Aon Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate 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, on any date on which the Floating Alternate Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurocurrency 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 pursuant to Section 2.11 shall be payable on Eurocurrency demand. With respect to (a) interest on all Advances (other than Eurocurrency Advances denominated in British Pounds SterlingAlternate Base Rate Loans where the interest is based on the Prime Rate), commitment Commitment Fees and other fees and LC Fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year; year and (b) interest on Floating Advances which are Alternate Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon 1:00 p.m. (local New York time) ), at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.), Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility Termination Date. Interest on Floating Rate Loans shall be calculated for actual days elapsed on the basis of a 365 or 366-day year, as appropriate. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable in arrears on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date, and with respect to any Alternate Currency Loan, the date specified as the date on which interest is payable in the applicable Alternate Currency Addendum. Interest accrued on each Eurocurrency 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 Facility Fees, utilization fees and interest on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Advances Loans denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365/366365-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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Five Year Credit Agreement (Cardinal Health Inc), Five Year Credit Agreement (Cardinal Health Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance shall be payable by the applicable Borrower on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating such 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 Floating Base Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable by the applicable Borrower on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable by the applicable Borrower on the last day of its applicable Interest Period, on any date on which the such Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Advance having an Interest Period longer than three months shall also be payable by the applicable Borrower on the last day of each three-month three‑month interval during such Interest Period. Interest accrued on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)each Foreign Currency Swing Loan, on each Euro Swing Loan and on each U.S. Swing Loan shall be paid by the applicable Borrower on the Maturity Date therefor and on any date on which such Foreign Currency Swing Loan, such Euro Swing Loan or such U.S. Swing Loan is prepaid, whether due to acceleration or otherwise. Interest and commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day 360‑day year; , except for interest on Floating Base Rate Advances Loans calculated by reference to the “prime rate” of Bank of America and Eurocurrency Advances Foreign Currency Swing Loans and Revolving Loans denominated in British Pounds Sterling Sterling, as applicable, which shall be calculated for actual days elapsed on the basis of a 365/366365‑day year or when appropriate, a 366-day year. Interest shall be payable by the applicable Borrower for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance a Loan shall become due on a day which is not a Business Day, such payment shall be made by the applicable Borrower on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: 364 Day Revolving Credit Agreement (Visa Inc.), 364 Day Revolving Credit Agreement (Visa Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility Termination Date. Interest on Floating Rate Loans shall be calculated for actual days elapsed on the basis of a 365 or 366-day year, as appropriate. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable in arrears on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date, and with respect to any Alternate Currency Loan, the date specified as the date on which interest is payable in the applicable Alternate Currency Addendum. Interest accrued on each Eurocurrency 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 Facility fees, utilization fees and interest on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Advances Loans denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365/366365-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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Cardinal Health Inc), Five Year Credit Agreement (Cardinal Health Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each 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 the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Floating Rate Advances (when the Alternate Base Rate is determined by the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, day year. All other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees computations of interest shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Term Loan Agreement (Enable Midstream Partners, LP), Term Loan Agreement (Oge Energy Corp.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the Floating Rate Advance or Swing Line Loan 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest ; provided, that interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and Swing Line Loans and LC Fees and Facility Fees shall be calculated for actual days elapsed on the basis of a 360-day yearyear (except that interest for Advances denominated in Pounds Sterling or Canadian Dollars shall be computed on the basis of a year of 365 days); interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling respect of which the Alternate Base Rate is based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local timeLocal Time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Acuity Brands Inc), Credit Agreement (Acuity Brands Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance (other than a Swing Line Loan) shall be payable in arrears on the Closing Date and each Payment Date, commencing with the first such date Payment Date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Swing Line Loan shall be payable on the last day of each calendar month (including the first day of such month but not including the last day of such month) and on the Maturity Date (it being understood and agreed that the Borrower shall pay any accrued and unpaid interest in respect of the Existing Swing Line Loans upon the first of such dates to occur after the Closing Date). Interest on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Advances, commitment fees and Swing Line Loans, LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Revolving Loans denominated in British Pounds Sterling, which shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling (other than Swing Line Loans) shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local timeLocal Time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Patterson Companies, Inc.), Credit Agreement (Patterson Companies, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan 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 Floating Rate Advance or Swing Line Loan 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Eurodollar Advances, commitment fees and Swing Line Loans, LC Fees and all other fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-365, 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 initiated received prior to 12:00 noon (local Charlotte, North Carolina time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest and fees in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp.)
Interest Payment Dates; Interest and Fee Basis. Interest The ---------------------------------------------- Borrower agrees to pay interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance is prepaidpaid, 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest The Borrower agrees to pay interest accrued on each Eurocurrency Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Fixed Rate Advance is prepaidpaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Fixed Rate Advances, commitment LC Fees, and facility fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. 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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance or any fees or other Obligations hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (National Data Corp), Credit Agreement (Global Payments Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each 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 the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar 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 pursuant to Section 2.11 shall be payable on Eurocurrency demand. With respect to (a) interest on all Advances (other than Eurocurrency Advances denominated in British Pounds SterlingFloating Rate Loans where the interest is based on the Alternate Base Rate), commitment Facility Fees, Letter of Credit Fees and other fees and LC Fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year; year and (b) interest on Advances which are Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon 1:00 p.m. (local New York time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Walgreen Co), Credit Agreement (Walgreen Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)with respect to Eurodollar Loans, commitment fees Commitment Fees and LC Fees Alternate Base Rate Loans for which interest is not determined by reference to the Prime Rate shall be calculated for actual days elapsed on the basis of a 360-360 day year; . Interest with respect to Alternate Base Rate Loans for which interest on Floating is determined by reference to the Prime Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for the actual days elapsed on the basis of a 365/366-365 or 366 day year, as applicable. 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 initiated prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Senior Bridge Term Loan Credit Agreement (Aon Corp), Credit Agreement (Aon Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each 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 the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable in arrears on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment each Eurodollar Advance and facility fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-360 day year; interest . Interest accrued on each Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Advance shall be calculated for actual days elapsed on the basis of a 365/366-365, 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 initiated received prior to 12:00 noon 1:00 p.m. (local New York time) at the place of paymentlocation specified in Section 2.12. If any payment of principal of or interest on an Advance any Obligation shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a payment of the principal paymentof any Advance, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Wrigley Wm Jr Co), Credit Agreement (Wrigley Wm Jr Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereofEffective Date, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable in arrears on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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, and upon any prepayment. Interest on Eurocurrency Floating Rate Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest on Eurodollar Advances, commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment. Notwithstanding the foregoing, the Borrower will pay to the Agent, for the account of each Lender, interest at the applicable rate in accordance with Section 2.11.
Appears in 2 contracts
Sources: Credit Agreement (Shaw Group Inc), Credit Agreement (Shaw Group Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan 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 Floating Rate Advance or Swing Line Loan 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 pursuant to Section 2.11 shall be payable on Eurocurrency Advances demand. Interest on Eurodollar Advances, Swing Line Loans (other than Eurocurrency Advances denominated in British Pounds SterlingSwingline Loans that are Floating Rate Advances), commitment fees and LC Fees and all other fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-365, 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 initiated received prior to 12:00 noon (local Charlotte, North Carolina time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest and fees in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on with respect to Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment Loans and facility fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day 360‑day year; interest on Floating . Interest with respect to Alternate Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans shall be calculated for the actual days elapsed on the basis of a 365/366-day 365 or 366‑day year, as applicable. 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 initiated made in full and received prior to 12:00 noon p.m. (local New York time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Five Year Credit Agreement (Aon PLC), Five Year Credit Agreement (Aon PLC)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the a 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 Eurocurrency Eurodollar Ratable Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance or Absolute Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance or Absolute Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar Advance or Absolute 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. Facility fees and interest on Floating Rate Advances and Absolute Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest on Eurocurrency Eurodollar Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local Chicago time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Alleghany Corp /De), Credit Agreement (Alleghany Corp /De)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereofThird Restatement Date, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable each Interest PeriodPeriod therefor, on any date on which the such Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Interest, commitment facility fees and LC Letter of Credit Fees shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Advances Loans denominated in British Pounds Sterling and Floating Rate Loans which shall be calculated for actual days elapsed on the basis of a 365/366365-day or 366-day year, as applicable. 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 initiated received prior to 12:00 noon (local timeLocal Time) (or, in the case of Swingline Loans, 2:00 p.m. Local Time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Bemis Co Inc), Long Term Credit Agreement (Bemis Co Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate ABR Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate ABR Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Rate ABR Advance converted into a Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the Payment Date following the date of such conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees Commitment Fees and LC Fees and interest on Eurodollar Loans shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances ABR Loans and Eurocurrency Advances denominated in British Pounds Sterling Swing Line Loans shall be calculated for actual days elapsed on the basis of a 365/366365-day (or, if applicable, 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 initiated received prior to 12:00 noon 2:00 p.m. (local Central time) at the place of paymentin accordance with Section 2.12. If any payment of principal of or interest on an Advance or Swing Line Loan shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Sources: Credit Agreement (Ryland Group Inc), Credit Agreement (Ryland Group Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating 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 Floating Rate Advance is prepaid, whether due to acceleration or otherwiseEffective Date, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating each Fixed Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Eurocurrency 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 Eurocurrency Base Rate Advances denominated in British Pounds Sterling)and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and fees (including, commitment fees without limitation, Facility Fees and LC Fees Fees) shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Ratable Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365/366365-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 initiated received at the place of payment prior to 12:00 noon (local time) or at the place of payment. If any payment of principal of or interest on an Advance such other time as shall become due on a day which is not a Business Day, be specified for such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such paymentunder this Agreement.
Appears in 2 contracts
Sources: Credit Agreement (Emerson Electric Co), Credit Agreement (Emerson Electric Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, upon the termination of the Commitments and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurocurrency Ratable Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Fixed Rate Advance is prepaid, whether by acceleration or otherwise, upon the termination of the Commitments and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment Loans and fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; , except that interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans shall be calculated for actual days elapsed on the basis of a 365/366365-day year or 366 day year, as the case may be, and interest on Loans denominated in British Pounds Sterling or by reference to the CDOR Rate shall be calculated for actual days elapsed on the basis of a 365-day year (or 366 days in a leap 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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance shall be payable by the applicable Borrower on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating such 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 Floating Base Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable by the applicable Borrower on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable by the applicable Borrower on the last day of its applicable Interest Period, on any date on which the such Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Advance having an Interest Period longer than three months shall also be payable by the applicable Borrower on the last day of each three-month interval during such Interest Period. Interest accrued on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)each Foreign Currency Swing Loan, commitment on each Euro Swing Loan and on each U.S. Swing Loan shall be paid by the applicable Borrower on the Maturity Date therefor, on any date on which such Foreign Currency Swing Loan or such Euro Swing Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest, facility fees and LC Fees utilization fees shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Base Rate Advances Loans calculated by reference to the “prime rate” of Bank of America, Foreign Currency Swing Loans and Eurocurrency Advances Revolving Loans denominated in British Pounds Sterling or Yen, as applicable, which shall be calculated for actual days elapsed on the basis of a 365/366365-day year or when appropriate, a 366-day year. Interest shall be payable by the applicable Borrower for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance a Loan shall become due on a day which is not a Business Day, such payment shall be made by the applicable Borrower on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance (other than a Swing Line Loan) shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Advance having an Interest Period longer than three months shall also be payable on the last day of each three-three month interval during such Interest Period. Interest on and commitment fees for Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-360 day year; interest on . Interest and commitment fees for Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366365-day day, or where 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 initiated made prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, hereof and on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturityLoan Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date Swing Line Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date of conversionhereof and on the Loan Termination Date. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Eurodollar Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar Advance having an Eurodollar Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Eurodollar Interest Period. Interest on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)the Swing Line Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof and on the Loan Termination Date. Interest, Letter of Credit fees and commitment fees and LC Fees at the Floating Rate shall be calculated for actual days elapsed on the basis of a 365-day (366-day in the case of leap years) basis. Interest at the Eurodollar Rate shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local Central time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Sources: Credit Agreement (Osca Inc)
Interest Payment Dates; Interest and Fee Basis. (a) Interest accrued on each Floating Alternate Base Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurocurrency Term SOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Term SOFR Advance and each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Term SOFR Advance or the Eurocurrency Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Term SOFR Advance and each Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-three- month interval during such Interest Period. Interest accrued on Eurocurrency Advances each ▇▇▇▇▇ Advance shall be payable in arrears on the last day of each month, on any date on which the ▇▇▇▇▇ Advance is prepaid (other than Eurocurrency Advances denominated in British Pounds Sterlingwith respect to the principal so prepaid), commitment whether by acceleration or otherwise, and at maturity. Interest with respect to Term SOFR Loans, Eurocurrency Loans and facility fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating . Interest with respect to Alternate Base Rate Advances and Eurocurrency ▇▇▇▇▇ Advances denominated in British Pounds Sterling shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. 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 initiated made in full and received prior to 12:00 noon p.m. (local New York time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
(b) With respect to any Term SOFR Advances and ▇▇▇▇▇ Advances, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement; provided that, with respect to any such amendment effected, the Administrative Agent shall post each such amendment implementing such Conforming Changes to the Borrowers and the Lenders reasonably promptly after such amendment becomes effective.
Appears in 1 contract
Sources: Credit Agreement (Aon PLC)
Interest Payment Dates; Interest and Fee Basis. (a) Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. .
(b) Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturitythe Facility Termination Date. Interest accrued on each Eurocurrency 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 LIBOR Market Rate Advance shall be payable on any date on which such LIBOR Market Rate Advance 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 Eurocurrency Floating Rate Advances (bearing interest at the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate, 366 day year. All other than Eurocurrency Advances denominated in British Pounds Sterling), commitment interest and all fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.day
Appears in 1 contract
Sources: Credit Agreement (Idacorp Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate ABR Advance and Swing Line Loan shall be payable on each Monthly Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate ABR Advance or Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturityon the Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Rate ABR Advance converted into a Eurocurrency Eurodollar Advance on a day other than a Monthly Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance and Competitive Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance or Competitive Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)ABR Loans, commitment fees Swing Line Loans and LC Competitive Loans, Facility Fees and Facility Letter of Credit Fees shall be calculated for actual days elapsed on the basis of a 360365-day (or, if applicable, 366-day) year; interest on Floating Rate Eurodollar Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366360-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 initiated received prior to 12:00 noon 2:00 p.m. (local New York time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Sources: Credit Agreement (Lennar Corp /New/)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate 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 on any date on which the Floating 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 Floating Alternate Base Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurocurrency 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 pursuant to Section 2.11 shall be payable on Eurocurrency demand. With respect to (a) interest on all Advances (other than Alternate Base Rate Loans where the interest is based on the Prime Rate and Eurocurrency Advances denominated in British Pounds Sterlingbased on CDOR), commitment Commitment Fees and other fees and LC Fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year; year and (b) interest on Floating Advances (1) which are Alternate Base Rate Advances Loans where the interest is based on the Prime Rate and (2) Eurocurrency Advances denominated in British Pounds Sterling based on CDOR, such interest shall be calculated for actual days elapsed on the basis of a 365/366-365/366 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 initiated received prior to 12:00 noon (local x) 1:00 p.m. (New York time), in the case of an Advance denominated in Dollars or (y) the Applicable Time, in the case of an Advance denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its each applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Eurocurrency any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment and fees and LC Fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local New York time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating 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 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 each Fixed Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Eurocurrency 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 Eurocurrency Base Rate Advances denominated in British Pounds Sterling)and Fixed Rate Advances that bear interest at the Alternate Base Rate pursuant to Article 8 and fees (including, commitment fees without limitation, Commitment Fees and LC Fees Fees) shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Ratable Advances denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365/366365-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 initiated received at the place of payment prior to 12:00 noon (local time) or at the place of payment. If any payment of principal of or interest on an Advance such other time as shall become due on a day which is not a Business Day, be specified for such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such paymentunder this Agreement.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance (other than a Swing Line Loan) shall be payable in arrears on the Closing Date and each Payment Date, commencing with the first such date Payment Date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Swing Line Loan shall be payable on the last day of each calendar month (including the first day of such month but not including the last day of such month) and on the Maturity Date (it being understood and agreed that the Borrower shall repay any outstanding Existing Swing Line Loans, together with any accrued and unpaid interest, on the Closing Date). Interest on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Advances, commitment fees and Swing Line Loans, LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Advances Revolving Loans denominated in British Pounds Sterling or determined by reference to the Prime Rate, which shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest on Floating Rate Advances (other than Swing Line Loans) shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local timeLocal Time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Swing Line Loan shall be payable on each Payment Date, on any date on which such Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency such Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month three‑month interval during such Interest Period. Interest on Eurocurrency Floating Rate Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360365-day year or, when appropriate, a 366-day year; . All other interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling all fees shall be calculated for actual days elapsed on the basis of a 365/366-day 360‑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 initiated received prior to 12:00 noon (local New York time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.. CHAR1\1285208v7
Appears in 1 contract
Sources: Credit Agreement (Portland General Electric Co /Or/)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Advances Loans denominated in British Pounds Sterling and Loans comprised of Floating Rate Advances, which shall be calculated for actual days elapsed on the basis of a 365/366365-day year. Facility Fees and utilization fees 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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest on Floating Rate Loans shall be calculated for actual days elapsed on the basis of a 365 or 366-day year, as appropriate. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable in arrears on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity, and with respect to any Alternate Currency Loan, the date specified as the date on which interest is payable in the applicable Alternate Currency Addendum. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Interest, commitment facility fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Advances Loans denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365/366365-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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofBorrowing Date with respect to such Alternate Base Rate Loan, on any date on which the Floating Alternate Base Rate Advance Loan, 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversionFacility Termination Date. Interest accrued on each Eurocurrency Advance Loan shall be payable on the last day of its applicable Interest Period, on any date on which the such Eurocurrency Advance Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurocurrency Advance Loan 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 pursuant to Section 2.11 shall be payable on Eurocurrency Advances demand. With respect to (a) interest on all Loans (other than Eurocurrency Advances denominated in British Pounds Sterling)Alternate Base Rate Loans where the interest is based on the Alternate Base Rate) and other fees hereunder, commitment such interest or fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; year and (b) interest on Floating Loans which are Alternate Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon 2:00 p.m. (local New York time) at the place of payment. If any payment of principal of or interest on an Advance a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Sources: Delayed Draw Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment Eurodollar Loans and fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans which are calculated on the basis of the Prime Rate shall be calculated for actual days elapsed on the basis of a 365/366365-day year or, if applicable, a 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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance, Same Day Dollar Advance or Tranche B Same Day Multi-Currency Advance shall be payable by the applicable Borrower on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate such Revolving 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 Base Rate Advance, Same Day Dollar Advance or Tranche B Same Day Multi-Currency Advance converted into a Eurocurrency Rate Advance on a day other than a Payment Date shall be payable by the applicable Borrower on the date of conversion. Interest accrued on each Eurocurrency Rate Advance shall be payable by the applicable Borrower on the last day of its applicable Interest Period, on any date on which the such Eurocurrency Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Rate Advance having an Interest Period longer than three months shall also be payable by the applicable Borrower on the last day of each three-month three‑month interval during such Interest Period. Interest accrued on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)each Swing Loan shall be paid by the applicable Borrower on the Maturity Date therefor and on any date on which such Swing Loan is prepaid, whether due to acceleration or otherwise. Interest and commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day 360‑day year; , except for (x) interest on Floating Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans calculated by reference to the “prime rate” of Bank of America, which shall be calculated for actual days elapsed on the basis of a 365/366365‑day year or when appropriate, a 366-day year and (y) Swing Loans denominated in Sterling and Revolving Loans denominated in Sterling, which shall be calculated for actual days elapsed on the basis of a 365‑day year. Interest shall be payable by the applicable Borrower for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance a Loan shall become due on a day which is not a Business Day, such payment shall be made by the applicable Borrower on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Eurodollar Committed Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-three- month interval during such Interest Period. Interest on Eurocurrency Eurodollar Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; . Commitment fees and interest on Floating Rate Advances and Eurocurrency Absolute Rate Advances denominated in British Pounds Sterling shall be calculated for actual number of days elapsed on the basis of a 365/366-day yearyear consisting of 365, or where appropriate 366, days. 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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Sources: Credit Agreement (NGC Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on the Closing Date and each Payment Date, commencing with the first such date Payment Date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Advances, commitment fees and Swing Line Loans, LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Revolving Loans denominated in British Pounds Sterling, which shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling (other than Swing Line Loans) shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local timeLocal Time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance shall be payable by the applicable Borrower on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating such 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 Floating Base Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable by the applicable Borrower on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable by the applicable Borrower on the last day of its applicable Interest Period, on any date on which the such Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Advance having an Interest Period longer than three months shall also be payable by the applicable Borrower on the last day of each three-month interval during such Interest Period. Interest accrued on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)each Foreign Currency Swing Loan, on each Euro Swing Loan and on each U.S. Swing Loan shall be paid by the applicable Borrower on the Maturity Date therefor and on any date on which such Foreign Currency Swing Loan, such Euro Swing Loan or such U.S. Swing Loan is prepaid, whether due to acceleration or otherwise. Interest and commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Base Rate Advances Loans calculated by reference to the “prime rate” of Bank of America and Eurocurrency Advances Foreign Currency Swing Loans and Revolving Loans denominated in British Pounds Sterling Sterling, as applicable, which shall be calculated for actual days elapsed on the basis of a 365/366365-day year or when appropriate, a 366-day year. Interest shall be payable by the applicable Borrower for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance a Loan shall become due on a day which is not a Business Day, such payment shall be made by the applicable Borrower on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest ---------------------------------------------- accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Eurodollar Ratable Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance or Absolute Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance or Absolute Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar Advance or Absolute 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment and facility fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Sources: Credit Agreement (Torchmark Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance (other than a Swing Line Loan) shall be payable in arrears on the Closing Date and each Payment Date, commencing with the first such date Payment Date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Swing Line Loan shall be payable on the last day of each calendar month (including the first day of such month but not including the last day of such month) and on the Maturity Date (it being understood and agreed that the Borrower shall pay any accrued and unpaid interest in respect of the Existing Swing Line Loans upon the first of such dates to occur after the Closing Date). Interest on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Advances, commitment fees and 12660163v2 Swing Line Loans, LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Advances Revolving Loans denominated in British Pounds Sterling or determined by reference to the Prime Rate, which shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest on Floating Rate Advances (other than Swing Line Loans) shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local timeLocal Time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the Floating Rate Advance or Swing Line Loan 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest ; provided, that interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and Swing Line Loans and LC Fees and Facility Fees shall be calculated for actual days elapsed on the basis of a 360-day yearyear (except that interest for Advances denominated in Pounds Sterling shall be computed on the basis of a year of 365 days); interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling respect of which the Alternate Base Rate is based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local timeLocal Time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Sources: Credit Agreement (Acuity Brands Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversionnext Payment Date. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), and commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; provided, that interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366365-day or 366-day year, as appropriate, for the actual number of days elapsed. 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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating an 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 Floating Alternate Base Rate Advance converted into a Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)with respect to Eurodollar Loans, commitment facility fees, utilization fees and LC Fees term out fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating . Interest with respect to Alternate Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. 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 initiated made in full and received prior to 12:00 noon (local Chicago time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Sources: 364 Day Credit Agreement (Aon Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 optionally prepaid or converted into a Eurocurrency Advance Eurodollar Advance, in each case on a day other than a Payment Date Date, shall be payable on the Payment Date next succeeding the date of such prepayment or conversion, as the case may be. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency all Eurodollar Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment and fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate all other Types of Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366365, or when applicable, a 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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofEffective Date, on any date on which the 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 Eurocurrency LIBOR Advance on a day other than a Payment Date shall be payable on the date of conversionnext succeeding Payment Date. Interest accrued on each Eurocurrency LIBOR Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency LIBOR Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency LIBOR 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 on Eurocurrency all Advances and fees (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and including LC Fees Fees) shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be SIDLEY ▇▇▇▇▇▇ ▇▇▇▇▇ & ▇▇▇▇ LLP payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon 2:00 p.m. (local Chicago time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating 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 Floating Alternate Base Rate Advance converted into a Eurocurrency Eurodollar Committed Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Committed Advance, Eurodollar Bid Rate Advance and Absolute Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Committed Advance, Eurodollar Bid Rate Advance or Absolute Rate Advance, as the case may be, is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar Committed Advance and Eurodollar Bid Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-three- month interval during such Interest Period. Interest on Eurocurrency Eurodollar Committed Advances (other than Eurocurrency and Eurodollar Bid Rate Advances denominated in British Pounds Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; . Fees and interest on Floating Alternate Base Rate Advances and Eurocurrency Absolute Rate Advances denominated in British Pounds Sterling shall be calculated for actual number of days elapsed on the basis of a 365/366-day yearyear consisting of 365, or where appropriate 366, days. 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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Sources: Credit Agreement (Dynegy Inc)
Interest Payment Dates; Interest and Fee Basis. (a) Interest accrued on each Floating Alternate Base Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereofEffective Date, on any date on which the Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurocurrency Term SOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Term SOFR Advance and each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Term SOFR Advance or the Eurocurrency Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Term SOFR Advance and each Eurocurrency 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 Eurocurrency Advances each ▇▇▇▇▇ Advance shall be payable in arrears on the last day of each month, on any date on which the ▇▇▇▇▇ Advance is prepaid (other than Eurocurrency Advances denominated in British Pounds Sterlingwith respect to the principal so prepaid), commitment whether by acceleration or otherwise, and at maturity. Interest with respect to Term SOFR Loans, Eurocurrency Loans and facility fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating . Interest with respect to Alternate Base Rate Advances and Eurocurrency ▇▇▇▇▇ Advances denominated in British Pounds Sterling shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. 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 initiated made in full and received prior to 12:00 noon p.m. (local New York time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Sources: Credit Agreement (Aon PLC)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Commitment Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Base Rate Advance converted into a Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Eurodollar Interest Period, on any date on which the Eurocurrency such Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturityon the Commitment Termination Date. Interest accrued on each Eurocurrency Eurodollar Advance having an a Eurodollar Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Eurodollar Interest Period. Interest on Eurocurrency Eurodollar Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; . Fees payable hereunder and interest on Floating Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for the actual number of days elapsed on the basis of a 365/366-day yearyear consisting of 365, or where appropriate, 366 days. 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 initiated received prior to 12:00 noon 2:00 p.m. (local New York time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Swing Line Loan shall be payable on each Payment Date, on any date on which such Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency such Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month threemonth interval during such Interest Period. Interest on Eurocurrency Floating Rate Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360365-day year or, when appropriate, a 366-day year; . All other interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling all fees shall be calculated for actual days elapsed on the basis of a 365/366-day 360day 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 initiated received prior to 12:00 noon (local New York time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Sources: Credit Agreement (Portland General Electric Co /Or/)
Interest Payment Dates; Interest and Fee Basis. Interest accrued ---------------------------------------------- on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Eurodollar Ratable Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance or Absolute Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance or Absolute Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar Advance or Absolute 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment and facility fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Sources: Credit Agreement (Torchmark Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan 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 Floating Rate Advance or Swing Line Loan 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Eurodollar Advances, commitment fees Swing Line Loans, LC Fees and LC Commitment Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling for which the Prime Rate is the basis shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon 1:00 p.m. (local Charlotte time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Sources: Credit Agreement (Blueknight Energy Partners, L.P.)
Interest Payment Dates; Interest and Fee Basis. (a) Interest accrued on each Floating Alternate Base Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 with respect toaccrued on Eurocurrency Advances each ▇▇▇▇▇ Advance shall be payable in arrears on the last day of each month, on any date on which the ▇▇▇▇▇ Advance is prepaid (other than Eurocurrency Advances denominated in British Pounds Sterlingwith respect to the principal so prepaid), commitment whether by acceleration or otherwise, and at maturity. Interest with respect to Eurocurrency Loans and facility fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating . Interest with respect to Alternate Base Rate LoansAdvances and ▇▇▇▇▇ Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. 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 initiated made in full and received prior to 12:00 noon p.m. (local New York time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
(b) With respect to any ▇▇▇▇▇ Advances, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement; provided that, with respect to any such amendment effected, the Administrative Agent shall post each such amendment implementing such Conforming Changes to the Borrowers and the Lenders reasonably promptly after such amendment becomes effective. “Conforming Changes” means any technical, administrative or operational changes (including changes to the definition of “Business Day,” the timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of ▇▇▇▇▇ and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of ▇▇▇▇▇ exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement).
Appears in 1 contract
Sources: Five Year Credit Agreement (Aon PLC)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest on Floating Rate Loans shall be calculated for actual days elapsed on the basis of a 365 or 366-day year, as appropriate. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable in arrears on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity, and with respect to any Alternate Currency Loan, the date specified as the date on which interest is payable in the applicable Alternate Currency Addendum. Interest accrued on each Eurocurrency 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 Facility fees, utilization fees and interest on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Advances Loans denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365/366365-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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued ---------------------------------------------- on each Floating Rate Advance and Swing Line Loan 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 Floating Rate Advance or Swing Line Loan 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Eurodollar Advance having an Interest Period longer than three six months shall also be payable on the last day of each three-month interval during such Interest PeriodPeriod or as otherwise agreed upon by the Lenders and the Borrower. Interest on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Eurodollar Advances, commitment fees Swing Line Loans, Facility Fees and LC Utilization Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local New York time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Canadian Prime Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance or Canadian Prime 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance and Offered Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance or Offered Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Advance or Offered 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 on Eurocurrency Advances Interest, LC Fees, and other fees (other than Eurocurrency Advances denominated except as provided in British Pounds Sterling), commitment fees and LC Fees the following sentence) shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Advances Loans denominated in British Pounds Sterling Sterling, Loans comprised of Floating Rate Advances, and Advances bearing interest at the Canadian Prime Rate which shall be calculated for actual days elapsed on the basis of a 365/366365-day year. Facility Fees and utilization fees 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 initiated received prior to 12:00 noon (local time) at the place of paymentpayment specified in Section 2.14. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate 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 on any date on which the Floating 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 Floating Alternate Base Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, on any date on which the Eurocurrency Advance is required to be repaid, and at maturityon the Facility Termination Date. Interest accrued on each Eurocurrency 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 pursuant to Section 2.11 shall be payable on Eurocurrency demand. With respect to (a) interest on all Advances (other than Eurocurrency Advances (1) Alternate Base Rate Loans where the interest is based on the Prime Rate or (2) Revolving Loans denominated in British Pounds Sterling), commitment Commitment Fees and other fees and LC Fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year; year and (b) interest on Floating Advances which are (1) Alternate Base Rate Advances Loans where the interest is based on the Prime Rate and Eurocurrency Advances (2) Revolving Loans denominated in British Pounds Sterling Sterling, such interest shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local x) 1:00 p.m. (Pacific time), in the case of an Advance denominated in Dollars or (y) the Applicable Time, in the case of an Advance denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the Floating Rate Advance Loan 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 Loan converted into a Eurocurrency Advance Eurodollar Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance Eurodollar Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance Eurodollar Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Advance Eurodollar Loan 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 pursuant to Section 2.12 shall be payable on Eurocurrency Advances demand. With respect to (a) interest on all Loans (other than Eurocurrency Advances denominated in British Pounds SterlingFloating Rate Loans where the interest is based on the Alternate Base Rate), commitment Commitment Fees, Duration Fees and other fees and LC Fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year; year and (b) interest on Loans which are Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon 1:00 p.m. (local New York time) at the place of payment. If any payment of principal of or interest on an Advance a Loan, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofBorrowing Date with respect to such Alternate Base Rate Loan, and on any date on which the Floating Alternate Base Rate Advance Loan, is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility Termination Date applicable to such Alternate Base Rate Loan. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date each Swing Line Loan shall be payable on any date on which such Swing Line Loan is repaid or prepaid, whether due to Section 2.07(c)(ii), acceleration or otherwise, and on the date of conversionFacility Termination Date applicable to such Swing Line Loan. Interest accrued on each Eurocurrency Advance Loan shall be payable on the last day of its applicable Interest Period, Period and on any date on which the such Eurocurrency Advance Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date applicable to such Eurocurrency Loan. Interest accrued on each Eurocurrency Advance Loan 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 pursuant to Section 2.11 shall be payable on Eurocurrency Advances demand. With respect to (a) interest on all Loans (other than Eurocurrency Advances denominated in British Pounds SterlingAlternate Base Rate Loans where the interest is based on the Alternate Base Rate), commitment Commitment Fees and other fees and LC Fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year; year and (b) interest on Floating Loans which are Alternate Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon 2:00 p.m. (local New York time), in the case of a Loan denominated in Dollars or (y) the Applicable Time, in the case of a Loan denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on an Advance a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Sources: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on . If any date on which the Floating Base Rate Advance is prepaid, accrued interest on the principal amount prepaid shall be payable on the date of such prepayment, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Base Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances Interest, LC Fees, and other fees (other than Eurocurrency Advances denominated except as provided in British Pounds Sterling), commitment fees and LC Fees the following sentence) shall be calculated for actual days elapsed on the basis of a 360-day year; , except for interest on Floating Rate Advances and Eurocurrency Advances Loans denominated in British Pounds Sterling Sterling, Loans comprised of Base Rate Advances, or Loans accruing interest on the CDOR Rate which shall be calculated for actual days elapsed on the basis of a 365/366365-day year. Commitment Fees 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 initiated received prior to 12:00 noon (local time) at the place of paymentpayment specified in Section 2.14. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating 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 on any date on which the Floating 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 Floating Base Rate Advance converted into a Eurocurrency SOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance or SOFR Advance shall be payable on the last day of its applicable Interest Period, on any date on which the 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 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 pursuant to Section 2.11 shall be payable on Eurocurrency demand. 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 denominated in British Pounds Sterlingbased on CDOR), commitment Commitment Fees and other fees and LC Fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances year and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated prior to 12:00 noon (local timeii) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.57 #98230960v1
Appears in 1 contract
Sources: Credit Agreement (RXO, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofOriginal Effective Date, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Eurocurrency Advances each Fixed Rate Loan shall be payable on the last day of the Interest Period applicable to the Advance of which such Loan is a part and, in the case of a Fixed Rate Advance with an Interest Period of more than 90 days' duration (other than Eurocurrency Advances denominated unless otherwise specified in British Pounds Sterlingthe applicable Competitive Bid Request), commitment each day prior to the last day of such Interest Period that occurs at intervals of 90 days' duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive Bid Request as dates for payment of interest with respect to such Advance. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances, Fixed Rate Loans and fees and LC Fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local New York time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Sources: Three Year Revolving Credit Agreement (Amerenenergy Generating Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the Floating Rate Advance is prepaidand at maturity, 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling)Eurodollar Advances, commitment fees and LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment (unless payment is on the same date as the Advance) on the amount paid if payment is initiated received prior to 12:00 noon p.m. (local Chicago time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Sources: Credit Agreement (Tesoro Trading Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereofInitial Funding Date, on any date on which the Floating Rate Advance or Swing Line Loan is prepaid, prepaid and at maturity (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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Eurocurrency Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Advance having an Eurocurrency Interest Period longer than three months shall also be payable on the last day Business Day of each three-month interval during such Eurocurrency Interest Period. Interest accrued on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and LC Fees all Loans for which the Prime Rate is the basis shall be calculated for actual days elapsed on the basis of a 360-day year; interest year of 365 or, when appropriate, 366 days. Interest accrued on Floating all Loans for which the Eurocurrency Rate Advances is the basis and Eurocurrency Advances denominated in British Pounds Sterling all fees shall be calculated for actual days elapsed on the basis of a 365/366-day yearyear of 360 days, or, in the case of Loans denominated in currencies other than Dollars, such other basis as is consistent with market conditions in the applicable jurisdictions, in each case for actual days elapsed. Interest shall be payable for the day an Advance or Swing Line Loan is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance or Swing Line Loan or any fee shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued ---------------------------------------------- on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Fixed Rate Advance is prepaid, whether by acceleration or otherwise, or converted to a Floating Rate Advance, and at maturity. Interest accrued on each Eurocurrency 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 on all Eurodollar Loans, Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), Loans and commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on all Floating Rate Advances Loans and Eurocurrency Advances denominated in British Pounds Sterling Absolute Rate Loans shall be calculated for actual days elapsed on the basis of a 365/366-365 (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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swingline Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Swingline Loan or 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 with respect to any Swingline Loans shall be payable on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), the date that such Loan is required to be repaid. Interest with respect to Eurodollar Loans and commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on . Interest with respect to Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. 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 initiated received prior to 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
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Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest ; provided, that interest accrued on each Eurocurrency 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees LC Fees and LC Commitment Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances for which the Prime Rate is the basis and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local Chicago time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
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Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate 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 on any date on which the Floating Alternate Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurocurrency EurocurrencySOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each eachSOFR Advance or Eurocurrency 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 pursuant to Section 2.11 shall be payable on Eurocurrency demand. With respect to (a) interest on all Advances (other than Alternate Base Rate Loans where the interest is based on the Prime Rate, S▇▇▇▇ Advances and Eurocurrency Advances denominated in British Pounds Sterlingbased on CDOR), commitment Commitment Fees and other fees and LC Fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year; year and (b) interest on Floating Advances (1) which are Alternate Base Rate Loans where the interest is based on the Prime Rate and, (2) S▇▇▇▇ Advances and (3) Eurocurrency Advances denominated in British Pounds Sterling based on CDOR, such interest shall be calculated for actual days elapsed on the basis of a 365/366-365/366 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 initiated received prior to 12:00 noon (local x) 1:00 p.m. (New York time), in the case of an Advance denominated in Dollars or (y) the Applicable Time, in the case of an Advance denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, S▇▇▇▇ Business Day or U.S. Government Securities Business Day, as applicable, such payment shall be made on the next succeeding Business Day Day, S▇▇▇▇ Business or U.S. Government Securities Business Day, as applicable and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
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Interest Payment Dates; Interest and Fee Basis. Interest accrued on each 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 the 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 Eurocurrency SOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency SOFR Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency SOFR Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency SOFR 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 on Eurocurrency Floating Rate Advances (when the Alternate Base Rate is determined by the National Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, day year. All other than Eurocurrency Advances denominated in British Pounds Sterling), commitment computations of interest and all fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local time) at the place of payment. If Except as set forth in the second proviso to the definition of “Interest Period,” if any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest and fees in connection with such payment.
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Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofOriginal Effective Date, on any date on which the 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 Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable on the last day of its each applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 Eurocurrency Advances each Fixed Rate Loan shall be payable on the last day of the Interest Period applicable to the Advance of which such Loan is a part and, in the case of a Fixed Rate Advance with an Interest Period of more than 90 days’ duration (other than Eurocurrency Advances denominated unless otherwise specified in British Pounds Sterlingthe applicable Competitive Bid Request), commitment each day prior to the last day of such Interest Period that occurs at intervals of 90 days’ duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive Bid Request as dates for payment of interest with respect to such Advance. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances, Fixed Rate Loans and fees and LC Fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local New York time) at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Sources: Five Year Revolving Credit Agreement (Amerenenergy Generating Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate 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, on any date on which the Floating Alternate Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurocurrency 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 pursuant to Section 2.11 shall be payable on Eurocurrency demand. With respect to (a) interest on all Advances (other than Eurocurrency Advances (1) Alternate Base Rate Loans where the interest is based on the Prime Rate or (2) Revolving Loans denominated in British Pounds Sterling), commitment Commitment Fees and other fees and LC Fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year; year and (b) interest on Floating Advances which are (1) Alternate Base Rate Advances Loans where the interest is based on the Prime Rate and Eurocurrency Advances (2) Revolving Loans denominated in British Pounds Sterling Sterling, such interest shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local x) 1:00 p.m. (Pacific time), in the case of an Advance denominated in Dollars or (y) the Applicable Time, in the case of an Advance denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on an Advance Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
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Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, Borrowing Date with respect to such Alternate Base Rate Loan and on any date on which the Floating Alternate Base Rate Advance Loan 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 Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversionFacility Termination Date. Interest accrued on each Eurocurrency Advance Loan shall be payable on the last day of its applicable Interest Period, Period and on any date on which the such Eurocurrency Advance Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurocurrency Advance Loan 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 pursuant to Section 2.11 shall be payable on Eurocurrency Advances demand. With respect to (a) interest on all Loans (other than Eurocurrency Advances denominated in British Pounds SterlingAlternate Base Rate Loans where the interest is based on the Alternate Base Rate), commitment Commitment Fees and other fees and LC Fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year; year and (b) interest on Floating Loans which are Alternate Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is initiated received prior to 12:00 noon 2:00 p.m. (local in the case of a payment received from WBA, New York time, and in the case of a payment received from the Designated Borrower, London time), in the case of a Loan denominated in Dollars or (y) the Applicable Time, in the case of a Loan denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on an Advance a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest interest, fees and commissions in connection with such payment.
Appears in 1 contract
Sources: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest ---------------------------------------------- accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, hereof and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurocurrency Ratable Advance on a day other than a Payment Date shall be payable on the Payment Date next following the date of conversion. Interest accrued on each Eurocurrency Advance or Absolute Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance or Absolute Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency Advance or Absolute 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 on Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), and commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-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 initiated received prior to 12:00 noon (local Chicago time) at the place of payment. If Except as set forth with respect to Eurocurrency Advances in the definition of Eurocurrency Interest Period, if any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
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Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating an Alternate Base Rate Advance is prepaid, whether prepaid due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurocurrency Eurodollar Advance on a day other than a Payment Date shall be payable on the next Payment Date following the date of conversion. Interest accrued on each Eurocurrency Eurodollar Advance shall be payable in arrears on the last day of its applicable Interest Period, on any date on which the Eurocurrency Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurocurrency 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 on Eurocurrency Eurodollar Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), and commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year; interest . Interest on Floating all Alternate Base Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366365-day year, or when appropriate, a 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 initiated received prior to 12:00 noon (local Chicago time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Sources: Credit Agreement (SPX Corp)