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

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Loan shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date to occur after October 19, 2019, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan shall be payable on the last day of its applicable Interest Period, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan having an Interest Period longer than three (3) months, if any, 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 demand. Interest and fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. (Pacific time) at the place of payment. If any payment of principal of or interest on a Loan becomes due on a day that is not a Business Day, such payment shall be made on the immediately succeeding Business Day unless such succeeding Business Day falls in a new calendar month, in which case such interest or principal shall be payable on the immediately preceding Business Day.

Appears in 2 contracts

Sources: Modification Agreement (Tri Pointe Homes, Inc.), Modification Agreement (Tri Pointe Homes, Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Loan and each Swingline Loan shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date to occur after October 19, 2019, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Closing Date. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan shall be payable on the last day of its applicable Interest Period, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan having an Interest Period longer than three (3) months, if any, 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 is payable on demand. Interest and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year, except that interest computed by reference to the Alternate Base Rate shall be calculated for actual days elapsed on the basis of a 365/366-day year. All interest hereunder on any Loan shall be computed on a daily basis based upon the outstanding principal amount of such Loan as of the applicable date of determination. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. before noon (Pacific Minneapolis, Minnesota time) at the place of payment). If any payment of principal of or interest on a Loan becomes due on a day that is not a Business Day, such payment shall be made on the immediately succeeding Business Day unless such succeeding Business Day falls in a new calendar month, in which case such interest or principal shall be payable on the immediately preceding Business Day.

Appears in 2 contracts

Sources: Credit Agreement (Otter Tail Corp), Credit Agreement (Otter Tail Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Loan ABR Advance shall be payable on each Monthly Payment Datemonthly, commencing with the first such Monthly Payment Date payment being due, with respect to occur after October 19, 2019, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on not later than the date fifth day after submission by the Administrative Agent to the Borrower of any prepayment an invoice for such calendar month (or portion thereof in the case of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination DateAugust 2018). Interest accrued on each Term SOFR Loan Advance shall be payable on the last day of its applicable Interest Period, on any date on which the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount Term SOFR Advance is prepaid, whether due to acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Loan Advance having an Interest Period longer than three (3) months, if any, months shall also be payable on each day prior to the last day of each three-month interval during such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period. Interest accrued pursuant to Section 2.11 on each Daily Simple SOFR Advance shall be payable monthly, with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice in arrears on demandthe last day for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest and fees under this Agreement shall be calculated for actual days elapsed on the basis of a 360-day year except that interest on ABR Advances made at the Prime Rate shall be calculated for actual days elapsed on the basis of a 365-day (or, if applicable, 366-day) year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 1:00 p.m. (Pacific New York time) at the place of payment. If any payment of principal of or interest on a Loan becomes shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless and such succeeding Business Day falls in a new calendar month, in which case such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest in connection with such payment.

Appears in 2 contracts

Sources: Credit Agreement (Forestar Group Inc.), Credit Agreement (Forestar Group Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest ---------------------------------------------- accrued on each Base Floating Rate Advance and Swing Line Loan shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the date hereof, 2019, on any date on which the Floating Rate Advance or Swing Line Loan is prepaid and at maturity (whether due to acceleration or otherwise). 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 any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan Eurocurrency Advance shall be payable on the last day of its applicable Eurocurrency Interest Period, on any date on which the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Loan Eurocurrency Advance having an Eurocurrency Interest Period longer than three (3) months, if any, months shall also be payable on the last day Business Day of each three-month interval during such Eurocurrency Interest Period. Interest accrued pursuant to Section 2.11 on all Loans for which the Prime Rate is the basis shall be payable calculated for actual days elapsed on demandthe basis of a year of 365 or, when appropriate, 366 days. Interest accrued on all Loans for which the Eurocurrency Rate is the basis and all fees shall be calculated for actual days elapsed on the basis of a 360-day yearyear of 360 days. Interest shall be payable for the day a an Advance or Swing Line Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. noon (Pacific local time) at the place of payment. If any payment of principal of or interest on a an Advance or Swing Line Loan becomes or any fee shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest in connection with such payment.

Appears in 2 contracts

Sources: Credit Agreement (Gardner Denver Inc), Credit Agreement (Gardner Denver Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Floating Rate Loan Advance shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19, 2019the date hereof, on any date on which the date of any prepayment of such Floating Rate Loan (is prepaid, whether due to acceleration or not as a result of acceleration) on the amount prepaidotherwise, and on the Facility A Termination Date or the Facility B Termination Date, as the case may be. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Fixed Rate Advance on a day other than a Monthly Payment Date shall be payable on the date of conversion. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Loan Fixed Rate Advance having an Interest Period longer than three (3) months, if any, 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 on Floating Rate Loans and Commitment Fees shall be payable calculated for actual days elapsed on demand. Interest and fees the basis of a 365-day year; interest on Fixed Rate Loans shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 1:00 p.m. (Pacific Chicago time) at the place of payment. If any payment of principal of or interest on a Loan becomes an Advance shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest in connection with such payment.

Appears in 2 contracts

Sources: Credit Agreement (Lennar Corp), Credit Agreement (LNR Property Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Loan and each LIBOR Market Index Rate Loan shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the Agreement Date, 2019on any date on which the Base Rate Loan or LIBOR Market Index Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Base Rate Loan converted into a LIBOR Rate Loan on a day other than a Payment Date shall be payable on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR LIBOR Rate Loan shall be payable on the last day of its applicable Interest Period, on any date on which the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR LIBOR Rate Loan having an Interest Period longer than three (3) months, if any, months shall also be payable on the last day of each three-three month interval during such Interest Period. Interest accrued pursuant to Section 2.11 shall be payable on demand. Interest Interest, Facility Fees and fees LC Fees shall be calculated for actual days elapsed on the basis of a 360-360 day year, except that interest calculated based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. noon (Pacific local time) at the place of payment. If Whenever any payment of principal of to the Administrative Agent or interest on a any Lender under the Loan becomes Documents would otherwise be due on a day that is not a Business Day, such payment shall instead be made due on the immediately next succeeding Business Day unless Day; provided, however, that if such next succeeding Business Day falls in a new calendar month, in which case such interest or principal payment shall instead be payable 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 payable on demand.

Appears in 2 contracts

Sources: Credit Agreement (WGL Holdings Inc), Credit Agreement (WGL Holdings Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Floating Rate Loan and each LIBOR Market Index Rate Loan shall be payable on each Monthly Payment Date, commencing with on any date on which such Floating Rate Loan or LIBOR Market Index Rate Loan is paid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the first such Monthly outstanding principal amount of any Floating Rate Loan converted into a Eurodollar Loan or LIBOR Market Index Rate Loan on a day other than a Payment Date to occur after October 19, 2019, shall be payable on the date of conversion. Interest accrued on that portion of the outstanding principal amount of any prepayment of such LIBOR Market Index Rate Loan (whether or not as converted into a result of acceleration) Floating Rate Loan on a day other than a Payment Date shall be payable on the amount prepaid, and on the Facility Termination Datedate of conversion. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Eurodollar Loan shall be payable on the last day of its applicable Interest Period, on the any date of any prepayment of on which such Eurodollar Loan (is paid, whether by acceleration or not as a result of acceleration) on the amount prepaidotherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Eurodollar Loan having an Interest Period longer than three (3) months, if any, 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 demand. Interest Interest, Commitment Fees, Utilization Fees, LC Fees and fees LC Fronting Fees shall be calculated for actual days elapsed on the basis of a 360-day year, except that interest on Floating Rate Loans accruing at a rate based on the Reference Rate shall be computed on the basis of a 365- or 366-day year, as applicable. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 1:00 p.m. (Pacific New York time) at the place of payment). If any payment of principal of or interest on a Loan becomes or any payment of fees in connection herewith shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless Day, and such succeeding Business Day falls extension of time shall be reflected in a new calendar month, in which case such computing interest or principal shall be payable on fees, as the immediately preceding Business Daycase may be.

Appears in 2 contracts

Sources: Credit Agreement (Puget Sound Energy Inc), Credit Agreement (Puget Sound Energy Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Loan shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the date hereof, 2019on any date on which a Base Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Base Rate Loan converted into a LIBOR Loan on a day other than a Payment Date shall be payable on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR LIBOR Loan shall be payable on the last day of its applicable Interest Period, on any date on which the date of any prepayment of such LIBOR Loan (whether or not as a result of acceleration) on the amount is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR LIBOR Loan having an Interest Period longer than three (3) months, if any, 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 demand. Interest Loans and commitment fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. (Pacific 2:00 p.m., Los Angeles time) , at the place of payment. If Whenever any payment of principal of or interest on a Loan becomes to be made hereunder shall be stated to be due on a day that is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless Day, and such succeeding Business Day falls extension of time shall in a new such case be included in the computation of payment of interest; provided, however, that, if such extension would cause any payment of interest on or principal of any LIBOR Loan to be made in the next following calendar month, in which case then such interest or principal payment shall instead be payable made on the immediately next preceding Business Day, and such shortened time shall in such case be used in the computation of payment of interest. Each determination by the Bank of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error.

Appears in 2 contracts

Sources: Credit Agreement (Petco Animal Supplies Inc), Credit Agreement (Petco Animal Supplies Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan shall be payable in arrears on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the Closing Date, 2019and on any date on which the Alternate Base Rate Loan is prepaid, whether due to acceleration or otherwise, and on the Maturity Date. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Loan converted into a SOFR Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each SOFR Loan shall be payable in arrears on each Payment Date, and on any prepayment of such Loan (date on which the SOFR Loan, is prepaid, whether due to acceleration or not as a result of acceleration) on the amount prepaidotherwise, and on the Facility Termination Maturity Date. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan shall be payable on the last day of its applicable Interest Period, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan having an Interest Period longer than three (3) months, if any, months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Daily Simple SOFR Loan shall be payable in arrears on each Payment Date, on any date on which the Daily Simple SOFR Loan is prepaid, whether by acceleration or otherwise, and on the Maturity Date. Interest accrued pursuant to Section 2.11 2.10 shall be payable on demand. Interest With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the interest is based on the Prime Rate), Commitment Fees and other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year and (b) interest on Loans which are Alternate Base Rate Loans where the interest is based on the Prime 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 a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 1:00 p.m. (Pacific time) at the place of payment. If any payment of principal of or interest on a Loan becomes Loan, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day that which is not a Business Day, Day such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest, fees and commissions in connection with such payment.

Appears in 2 contracts

Sources: 364 Day Credit Agreement (Salesforce, Inc.), Credit Agreement (Salesforce, Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Loan shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date to occur after October 19, 2019, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Closing Date. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan shall be payable on the last day of its applicable Interest Period, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan having an Interest Period longer than three (3) months, if any, 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 is payable on demand. Interest and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year, except that interest computed by reference to the Alternate Base Rate shall be calculated for actual days elapsed on the basis of a 365/366-day year. All interest hereunder on any Loan shall be computed on a daily basis based upon the outstanding principal amount of such Loan as of the applicable date of determination. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. (Pacific before noon New York City time) at the place of payment). If any payment of principal of or interest on a Loan becomes due on a day that is not a Business Day, such payment shall be made on the immediately succeeding Business Day unless such succeeding Business Day falls in a new calendar month, in which case such interest or principal shall be payable on the immediately preceding Business Day.

Appears in 2 contracts

Sources: Credit Agreement (Alliant Energy Corp), Credit Agreement (Alliant Energy Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan and each LIBOR Daily Floating Rate Loan shall be payable in arrears on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the Borrowing Date with respect to such Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, 2019as applicable, and on any date on which the Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, as applicable, is prepaid, whether due to acceleration or otherwise. Interest accrued on each Eurocurrency Loan (other than LIBOR Daily Floating Rate Loans) shall be payable on the last day of its applicable Interest Period and on any date of any prepayment of on which such Eurocurrency Loan (is prepaid, whether by acceleration or not as a result of acceleration) on the amount prepaidotherwise, and on the Facility Termination Date. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan shall be payable on the last day of its applicable Interest Period, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Eurocurrency Loan having an Interest Period longer than three (3) months, if any, 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 demand. Interest With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the interest is based on the Alternate Base Rate), Commitment Fees and other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year and (b) interest on Loans which are Alternate Base Rate 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 a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 2:00 p.m. (Pacific New York time) at the place of payment. If any payment of principal of or interest on a Loan becomes Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan and each LIBOR Daily Floating Rate Loan shall be payable in arrears on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the Borrowing Date with respect to such Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, 2019, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaidapplicable, and on any date on which the Facility Termination DateAlternate Base Rate Loan or LIBOR Daily Floating Rate Loan, as applicable, is prepaid, whether due to acceleration or otherwise. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Eurocurrency Loan (whether or not as a result of accelerationother than LIBOR Daily Floating Rate Loans) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan shall be payable on the last day of its applicable Interest PeriodPeriod and on any date on which such Eurocurrency Loan is prepaid, on the date of any prepayment of such Loan (whether by acceleration or not as a result of acceleration) on the amount prepaidotherwise, and on the applicable Facility Termination Date. Interest accrued on each Term SOFR Eurocurrency Loan having an Interest Period longer than three (3) months, if any, months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued pursuant to Section ‎‎Section 2.11 shall be payable on demand. Interest With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the interest is based on the Alternate Base Rate), Commitment Fees and other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year and (b) interest on Loans which are Alternate Base Rate 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 a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 2:00 p.m. (Pacific New York time) at the place of payment. If any payment of principal of or interest on a Loan becomes Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing 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 Alternate Base Rate Loan shall be payable in arrears on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19, 2019the Borrowing Date with respect to such Alternate Base Rate Loan, on any date on which the date of any prepayment of such Alternate Base Rate Loan (is prepaid, whether due to acceleration or not as a result of acceleration) on the amount prepaidotherwise, and on the Facility Termination Maturity Date. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Rate Loan shall be payable on the last day of its applicable Interest Period, on the any date of any prepayment of on which such SOFR Rate Loan (is prepaid, whether by acceleration or not as a result of acceleration) on the amount prepaidotherwise, and on the Facility Termination Maturity Date. Interest accrued on each Term SOFR Loan having an Interest Period longer than three (3) months, if any, 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 2.09 shall be payable on demand. Interest With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the interest is based on the Alternate Base Rate) and other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year and (b) interest on Loans which are Alternate Base Rate 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 a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 2:00 p.m. (Pacific New York time) at the place of payment. If any payment of principal of or interest on a Loan becomes Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing 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 Alternate Base Rate Loan and each LIBOR Daily Floating Rate Loan shall be payable in arrears on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the Borrowing Date with respect to such Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, 2019, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaidapplicable, and on any date on which the Facility Termination DateAlternate Base Rate Loan or LIBOR Daily Floating Rate Loan, as applicable, is prepaid, whether due to acceleration or otherwise. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Eurocurrency Loan (whether or not as a result of accelerationother than LIBOR Daily Floating Rate Loans) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan shall be payable on the last day of its applicable Interest Period, Period and on the any date of any prepayment of on which such Eurocurrency Loan (whether or not as a result of acceleration) on the amount is prepaid, and on the Facility Termination Datewhether by acceleration or otherwise. Interest accrued on each Term SOFR Eurocurrency Loan having an Interest Period longer than three (3) months, if any, months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued pursuant to Section ‎Section 2.11 shall be payable on demand. Interest With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the interest is based on the Alternate Base Rate), Revolving Commitment Fees and other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year and (b) interest on Loans which are Alternate Base Rate 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 a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 2:00 p.m. (Pacific New York time) at the place of payment. If any payment of principal of or interest on a Loan becomes Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: Credit Agreement (Walgreens Boots Alliance, Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Swing Line Loan and Floating Rate Loan Advance shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19, 2019the date hereof, on any date on which the date of any prepayment of such Swing Line Loan (or Floating Rate Loan is prepaid, whether due to acceleration or not as a result of acceleration) on the amount prepaidotherwise, and on the Facility A Termination Date. Interest accrued on each Daily SOFR Loan that portion of the outstanding principal amount of any Floating Rate Advance converted into a Fixed Rate Advance on a day other than a Monthly Payment Date shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Term SOFR Loan Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Loan Fixed Rate Advance having an Interest Period longer than three (3) months, if any, 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 on Floating Rate Loans and Facility Fees shall be payable calculated for actual days elapsed on demand. Interest and fees the basis of a 365-day year; interest on Fixed Rate Loans shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Committed Advance or a Swing Line Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 1:00 p.m. (Pacific Chicago time) at the place of payment. If any payment of principal of or interest on a Committed Advance or a Swing Line Loan becomes shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest in connection with such payment.

Appears in 1 contract

Sources: Revolving Credit Agreement (Lennar Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Floating Rate Loan Borrowing shall be payable in arrears on each Monthly Payment Date, commencing with the first such Monthly Payment Date to occur after October 19the Closing Date, 2019on any date on which the Floating Rate Borrowing is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on the outstanding principal amount of any Floating Rate Borrowing converted into a Eurocurrency Borrowing on a day other than a Payment Date shall be payable on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan Eurocurrency Borrowing shall be payable on the last day of its applicable Interest Period, on the any date of any prepayment of on which such Loan (whether or not as a result of acceleration) on the amount Eurocurrency Borrowing is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Loan Eurocurrency Borrowing having an Interest Period longer than three (3) months, if any, 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 demand. Interest Eurocurrency Borrowings, and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Borrowings shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day a Loan Borrowing is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 12:00 noon (Pacific local time) at the place of payment. If any payment of principal of or interest on a Loan becomes Borrowing, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: Term Loan Credit Agreement (Patterson Companies, Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Loan AdvanceBorrowing shall be payable in arrears on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the Closing Date, 2019and on any date on which the Base Rate AdvanceBorrowing is prepaid, whether due to acceleration or otherwise. Interest accrued on that portion of the outstanding principal amount of any Base Rate AdvanceBorrowing converted into a SOFR AdvanceBorrowing on a day other than a Payment Date shall be payable on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Daily Eurocurrency AdvanceBorrowing or SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan AdvanceBorrowing shall be payable on the last day of its applicable Interest Period, on any date on which the date of any prepayment of such Loan (Eurocurrency AdvanceBorrowing or SOFR AdvanceBorrowing, as applicable, is prepaid, whether by acceleration or not as a result of acceleration) on the amount prepaidotherwise, and on the Facility Termination TerminationFinal Maturity Date. Interest accrued on each Term Eurocurrency AdvanceBorrowing and each SOFR Loan AdvanceBorrowing having an Interest Period longer than three (3) months, if any, months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued pursuant to Section ‎Section 2.11 shall be payable on demand. Interest With respect to (a) interest on all AdvancesBorrowings (other than Base Rate Loans where the interest is based on the Prime Rate and Eurocurrency AdvancesBorrowings based on CDORTerm C▇▇▇▇), Commitment Fees and other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year and (b) interest on AdvancesBorrowings (1) which are Base Rate Loans where the interest is based on the Prime Rate and (2) Eurocurrency AdvancesBorrowings based on CDORTerm C▇▇▇▇, 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 a Loan an Advancea Borrowing is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. (Pacific x) 1:00 p.m. (New York time), in the case of an Advancea Borrowing denominated in Dollars or (y) the Applicable Time, in the case of an Advancea Borrowing denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on a Loan becomes an Advancea Borrowing, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthDay, and, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: Amendment No. 4 (RXO, Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Reference Rate Loan shall be payable in arrears on the first Business Day of each Monthly Payment Datecalendar month, commencing with the first such Monthly Payment Date date to occur after October 19the Closing Date, 2019on any date on which Reference Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Reference Rate Loan converted into a Fixed Rate Loan on a day other than an interest payment date shall be payable on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Fixed Rate Loan shall be payable on the last day of its applicable Interest Period, on any date on which the date of any prepayment of such Fixed Rate Loan (whether or not as a result of acceleration) on the amount is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Loan having an Interest Period longer than three (3) months, if any, 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 demand. Interest Fixed Rate Loans and fees shall be calculated for actual days elapsed on the basis of a 360-day year and interest on Reference Rate Loans shall be calculated for actual days elapsed on the basis of 365-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. (Pacific 2:00 p.m., Los Angeles time) , at the place of payment. If Whenever any payment of principal of or interest on a Loan becomes to be made hereunder shall be stated to be due on a day that is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless Day, and such succeeding Business Day falls extension of time shall in a new such case be included in the computation of payment of interest; PROVIDED, HOWEVER, that, if such extension would cause any payment of interest on or principal of any Fixed Rate Loan to be made in the next following calendar month, in which case then such interest or principal payment shall instead be payable made on the immediately next preceding Business Day, and such shortened time shall in such case be used in the computation of payment of interest.

Appears in 1 contract

Sources: Credit Agreement (Star Telecommunications Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Loan Advance shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the date hereof, 2019on any date on which 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 Base Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on the any date of any prepayment of on which such Loan (whether or not as a result of acceleration) on the amount Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Loan Eurocurrency Advance having an Interest Period longer than three (3) months, if any, 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 on each Foreign Currency Swing Loan, on each Euro Swing Loan and on each U.S. Swing Loan shall be payable paid on demandthe 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 Interest, facility fees and utilization fees shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Base Rate Loans calculated by reference to the “prime rate” of Bank of America, Foreign Currency Swing Loans and Revolving Loans denominated in Pounds Sterling or Yen, as applicable, which shall be calculated for actual days elapsed on the basis of a 365-day year or when appropriate, a 366-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. noon (Pacific local time) at the place of payment. If any payment of principal of or interest on a Loan becomes shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest in connection with such payment.

Appears in 1 contract

Sources: 364 Day Revolving Credit Agreement (Visa Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued ---------------------------------------------- on each Base Reference Rate Loan shall be payable in arrears on the first Business Day of each Monthly Payment Datecalendar month, commencing with the first such Monthly Payment Date date to occur after October 19the Closing Date, 2019on any date on which Reference Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Reference Rate Loan converted into a LIBOR Loan on a day other than an interest payment date shall be payable on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR LIBOR Loan shall be payable on the last day of its applicable Interest Period, on any date on which the date of any prepayment of such LIBOR Loan (whether or not as a result of acceleration) on the amount is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Loan having an Interest Period longer than three (3) months, if any, 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 demand. Interest LIBOR Loans and fees shall be calculated for actual days elapsed on the basis of a 360-day year and interest on Reference Rate Loans shall be calculated for actual days elapsed on the basis of 365-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. (Pacific 12:00 noon, Los Angeles time) , at the place of payment. If Whenever any payment of principal of or interest on a Loan becomes to be made hereunder shall be stated to be due on a day that is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless Day, and such succeeding Business Day falls extension of time shall in a new such case be included in the computation of payment of interest; provided, however, that, if such extension would cause any payment of interest -------- ------- on or principal of any LIBOR Loan to be made in the next following calendar month, in which case then such interest or principal payment shall instead be payable made on the immediately next preceding Business Day, and such shortened time shall in such case be used in the computation of payment of interest. For purposes of calculating the Applicable Margin for LIBOR Loans, the Letter of Credit Fee and the Commitment Fee, if the Ratings shall fall within different Levels, the Applicable Margin, the Letter of Credit Fee and the Commitment Fee shall be based on the higher Rating. If any Rating shall be changed, each such change with respect to the Borrower shall apply at any time during the period commencing on the fifth Business Day following the date on which the Agent has received notice of such change from the Borrower after the effective date of such change and ending on the date five Business Days following the date on which the Agent has received notice of any new change in Rating (after the effective date of the next such change). If the rating system of either S&P or ▇▇▇▇▇'▇ shall change, the parties hereto shall negotiate in good faith to amend the references to specific Ratings in the Applicable Margin definition to reflect such changed rating system. The Applicable Margin for LIBOR Loans, the Letter of Credit Fee and the Commitment Fee shall also be subject to adjustment (upwards or downwards, as appropriate) based on the Borrower's Leverage Ratio. The Leverage Ratio shall be determined from the then most recent annual or quarterly financial statement of the Borrower delivered with the Compliance Certificate. The adjustment, if any, to the Applicable Margin for LIBOR Loans, the Letter of Credit Fee and the Commitment Fee, as it relates to the Leverage Ratio, shall take place on, and be effective from and after the fifth Business Day following the date on which the Agent has received the Compliance Certificate. If the Borrower shall at any time fail to furnish to the Agent the Compliance Certificate within the time limitation set forth in Section 7.1(iii), then the Borrower's Level shall be Level VI Status from the date of such failure until 5 Business Days after such Compliance Certificate is so delivered.

Appears in 1 contract

Sources: Credit Agreement (LTC Properties Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan and each LIBOR Daily Floating Rate Loan shall be payable in arrears on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the Borrowing Date with respect to such Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, 2019, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaidapplicable, and on any date on which the Facility Termination DateAlternate Base Rate Loan or LIBOR Daily Floating Rate Loan, as applicable, is prepaid, whether due to acceleration or otherwise. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Eurocurrency Loan (whether or not as a result of accelerationother than LIBOR Daily Floating Rate Loans) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan shall be payable on the last day of its applicable Interest Period, Period and on the any date of any prepayment of on which such Eurocurrency Loan (whether or not as a result of acceleration) on the amount is prepaid, and on the Facility Termination Datewhether by acceleration or otherwise. Interest accrued on each Term SOFR Eurocurrency Loan having an Interest Period longer than three (3) months, if any, 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 demand. Interest With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the interest is based on the Alternate Base Rate), Revolving Commitment Fees and other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year and (b) interest on Loans which are Alternate Base Rate 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 a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 2:00 p.m. (Pacific New York time) at the place of payment. If any payment of principal of or interest on a Loan becomes Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: Credit Agreement (Walgreens Boots Alliance, Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued ---------------------- on each Base Rate Loan shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the date hereof, 2019on any date on which a Base Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Base Rate Loan converted into a LIBOR Loan on a day other than a Payment Date shall be payable on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR LIBOR Loan shall be payable on the last day of its applicable Interest Period, on any date on which the date of any prepayment of such LIBOR Loan (whether or not as a result of acceleration) on the amount is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR LIBOR Loan having an Interest Period longer than three (3) months, if any, 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 demand. Interest Loans and commitment fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. (Pacific 12:00 noon, Los Angeles time) , at the place of payment. If Whenever any payment of principal of or interest on a Loan becomes to be made hereunder shall be stated to be due on a day that is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless Day, and such succeeding Business Day falls extension of time shall in a new such case be included in the computation of payment of interest; provided, however, that, if such extension would cause any payment of interest on or principal of any LIBOR Loan to be made in the next following calendar month, in which case then such interest or principal payment shall instead be payable made on the immediately next preceding Business Day, and such shortened time shall in such case be used in the computation of payment of interest. Each determination by the Lender of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error.

Appears in 1 contract

Sources: Credit Agreement (Petco Animal Supplies Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Floating Rate Loan Advance shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19, 2019the date hereof, on any date on which the date of any prepayment of such Floating Rate Loan (is prepaid, whether due to acceleration or not as a result of acceleration) on the amount prepaidotherwise, and on the Facility B Termination Date. Interest accrued on each Daily SOFR Loan that portion of the outstanding principal amount of any Floating Rate Advance converted into a Fixed Rate Advance on a day other than a Monthly Payment Date shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Term SOFR Loan Fixed Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Loan Fixed Rate Advance having an Interest Period longer than three (3) months, if any, 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 on Floating Rate Loans and Facility Fees shall be payable calculated for actual days elapsed on demand. Interest and fees the basis of a 365-day year; interest on Fixed Rate Loans shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan Facility B Advance is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 1:00 p.m. (Pacific Chicago time) at the place of payment. If any payment of principal of or interest on a Loan becomes Facility B Advance shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest in connection with such payment.

Appears in 1 contract

Sources: Revolving Credit Agreement (Lennar Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Loan Advance, Same Day Dollar Advance or Tranche B Same Day Multi-Currency Advance denominated in Euro shall be payable by the applicable Borrower on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19, 2019the date hereof, on the any date of any prepayment of on which such Loan (whether or not as a result of acceleration) on the amount Advance is prepaid, whether due to acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Alternative Currency Daily SOFR Loan Rate Advance or Tranche B Same Day Multi-Currency Advance denominated in Sterling shall be payable by the applicable Borrower on each Interest Payment Date, commencing with the 7th first such date to occur after the date hereof, on any date on which such Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Base Rate Advance, Same Day Dollar Advance or Tranche B Same Day Multi-Currency Advance converted into a Term Rate Advance on a day of each calendar month for other than a Payment Date shall be payable by the preceding calendar month, applicable Borrower on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Term SOFR Loan Rate Advance shall be payable by the applicable Borrower on the last day of its applicable Interest Period, on the any date of any prepayment of on which such Loan (whether or not as a result of acceleration) on the amount Term Rate Advance is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Loan Rate Advance having an Interest Period longer than three (3) months, if any, months shall also be payable by the applicable Borrower on the last day of each three-month interval during such Interest Period. Interest accrued pursuant to Section 2.11 shall be payable on demand. Interest and commitment fees shall be calculated for actual days elapsed on the basis of a 360-day year, provided, that interest on Base Rate Loans, Tranche B Same Day Multi-Currency Loans and Alternative Currency Daily Rate Loans determined in reference to Simple ▇▇▇▇▇ or ▇▇▇▇▇, as the case may be, shall be calculated for actual days elapsed on the basis of a 365-day year or when appropriate, a 366-day year. Interest shall be payable by the applicable Borrower for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. noon (Pacific local time) at the place of payment. If any payment of principal of or interest on a Loan becomes shall become due on a day that which is not a Business Day, such payment shall be made by the applicable Borrower on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest in connection with such payment.

Appears in 1 contract

Sources: Revolving Credit Agreement (Visa Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Reference Rate Loan shall be payable in arrears on the first Business Day of each Monthly Payment Datecalendar month, commencing with the first such Monthly Payment Date date to occur after October 19the Closing Date, 2019on any date on which Reference Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Reference Rate Loan converted into a LIBOR Loan on a day other than an interest payment date shall be payable on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR LIBOR Loan shall be payable on the last day of its applicable Interest PeriodPeriod (and, in the case of any LIBOR Loan with an Interest Period of six months, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on day that is three months after the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan having an Interest Period longer than three (3) months, if any, shall also be payable on the last first day of each three-month interval during such Interest Period), on any date on which the LIBOR Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued pursuant to Section 2.11 shall be payable on demand. Interest LIBOR Loans and fees shall be calculated for actual days elapsed on the basis of a 360-day year, and interest on Reference Rate Loans shall be calculated for actual days elapsed on the basis of a year of 365 or 366 days, as applicable. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. (Pacific 12:00 noon, Los Angeles time) , at the place of payment. If Whenever any payment of principal of or interest on a Loan becomes to be made hereunder shall be stated to be due on a day that is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless Day, and such succeeding Business Day falls extension of time shall in a new such case be included in the computation of payment of interest; provided, however, that, if such extension would cause any payment of interest on or principal of any LIBOR Loan to be made in the next following calendar month, in which case then such interest or principal payment shall instead be payable made on the immediately next preceding Business Day, and such shortened time shall in such case be used in the computation of payment of interest.

Appears in 1 contract

Sources: Term Loan Agreement (LTC Properties Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Loan Advance, Same Day Dollar Advance or Tranche B Same Day Multi-Currency Advance shall be payable by the applicable Borrower on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the date hereof, 2019on any date on which such Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any 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 any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Dateconversion. Interest accrued on each Daily SOFR Loan Eurocurrency Rate Advance shall be payable on by the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan shall be payable applicable Borrower on the last day of its applicable Interest Period, on the any date of any prepayment of on which such Loan (whether or not as a result of acceleration) on the amount Eurocurrency Rate Advance is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Loan Eurocurrency Rate Advance having an Interest Period longer than three (3) months, if any, months shall also be payable by the applicable Borrower on the last day of each three-month interval during such Interest Period. Interest accrued pursuant to Section 2.11 on each Swing Loan shall be payable paid by the applicable Borrower on demandthe Maturity Date therefor and on any date on which such Swing Loan is prepaid, whether due to acceleration or otherwise. Interest and commitment fees shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Base Rate Loans calculated by reference to the “prime rate” of Bank of America and 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 or when appropriate, a 366-day year. Interest shall be payable by the applicable Borrower for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. noon (Pacific local time) at the place of payment. If any payment of principal of or interest on a Loan becomes shall become due on a day that which is not a Business Day, such payment shall be made by the applicable Borrower on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest in connection with such payment.

Appears in 1 contract

Sources: Five Year Revolving Credit Agreement (Visa Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Floating Rate Loan Advance shall be payable in arrears on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19, 2019the date hereof, on any date on which the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Daily SOFR Loan that portion of the outstanding principal amount of any Floating Rate Advance converted into a LIBOR Advance on a day other than a Payment Date shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination next succeeding Payment Date. Interest accrued on each Term SOFR Loan SIDLEY AUSTIN BROWN & WOOD 23 accr▇▇▇ ▇▇ ▇▇▇▇ LIB▇▇ ▇dvance shall be payable on the last day of its applicable Interest Period, on any date on which the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount LIBOR Advance is prepaid, whether by acceleration or otherwise, and on the Facility Termination Dateat maturity. Interest accrued on each Term SOFR Loan LIBOR Advance having an Interest Period longer than three (3) months, if any, 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 demand. Interest all Advances and fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 2:00 p.m. (Pacific Chicago time) at the place of payment. If any payment of principal of or interest on a Loan becomes an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing interest, fees and commissions in connection with such payment.

Appears in 1 contract

Sources: Credit Agreement (Insurance Auto Auctions Inc /Ca)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan shall be payable in arrears on each Monthly Payment Date, commencing with the first such Monthly Payment Date date to occur after October 19the Borrowing Date with respect to such Alternate Base Rate Loan and on any date on which the Alternate Base Rate Loan is prepaid, 2019, on the date of any prepayment of such Loan (whether due to acceleration or not as a result of acceleration) on the amount prepaidotherwise, and on the Facility Termination Date. Interest accrued on each Daily SOFR Eurocurrency Loan shall be payable on the 7th last day of each calendar month for the preceding calendar monthits applicable Interest Period and on any date on which such Eurocurrency Loan is prepaid, on the date of any prepayment of such Loan (whether by acceleration or not as a result of acceleration) on the amount prepaidotherwise, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan shall be payable on the last day of its applicable Interest Period, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Eurocurrency Loan having an Interest Period longer than three (3) months, if any, months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued pursuant to Section ‎Section 2.11 shall be payable on demand. Interest With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the interest is based on the Alternate Base Rate), Commitment Fees and other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year and (b) interest on Loans which are Alternate Base Rate 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 a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. 2:00 p.m. (Pacific 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 a Loan becomes Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day that which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day unless such succeeding Business Day falls in a new calendar monthand, in which the case of a principal payment, such interest or principal extension of time shall be payable on the immediately preceding Business Dayincluded in computing 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 Base Rate Loan and each Daily Simple SOFR Loan shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date to occur after October 19, 2019, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Closing Date. Interest accrued on each Daily SOFR Loan shall be payable on the 7th day of each calendar month for the preceding calendar month, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan shall be payable on the last day of its applicable Interest Period, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan having an Interest Period longer than three (3) months, if any, 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 is payable on demand. Interest and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year, except that interest computed by reference to the Alternate Base Rate shall be calculated for actual days elapsed on the basis of a 365/366-day year. All interest hereunder on any Loan shall be computed on a daily basis based upon the outstanding principal amount of such Loan as of the applicable date of determination. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. before noon (Pacific Chicago time) at the place of payment). If any payment of principal of or interest on a Loan becomes due on a day that is not a Business Day, such payment shall be made on the immediately succeeding Business Day unless such succeeding Business Day falls in a new calendar month, in which case such interest or principal shall be payable on the immediately preceding Business Day.

Appears in 1 contract

Sources: Credit Agreement (Century Communities, Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Base Rate Loan and each Swingline Loan shall be payable on each Monthly Payment Date, commencing with the first such Monthly Payment Date to occur after October 19, 2019the Closing Date, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Daily SOFR Loan shall be payable on each Interest Payment Date, commencing with the 7th day of each calendar month for first such Interest Payment Date to occur after the preceding calendar monthClosing Date, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan shall be payable on the last day of its applicable Interest Period, on the date of any prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Term SOFR Loan having an Interest Period longer than three (3) months, if any, 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 is payable on demand. Interest and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year, except that interest computed by reference to the Alternate Base Rate shall be calculated for actual days elapsed on the basis of a 365/366-day year. All interest hereunder on any Loan shall be computed on a daily basis based upon the outstanding principal amount of such Loan as of the applicable date of determination. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 10:00 a.m. before noon (Pacific Standard time) at the place of payment). If any payment of principal of or interest on a Loan becomes due on a day that is not a Business Day, such payment shall be made on the immediately succeeding Business Day unless such succeeding Business Day falls in a new calendar month, in which case such interest or principal shall be payable on the immediately preceding Business Day.

Appears in 1 contract

Sources: Credit Agreement (Universal Electronics Inc)