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

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and on any date on which the Advance 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. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time at the place of receipt). 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 such extension of time shall be included in computing interest in connection with such payment.

Appears in 5 contracts

Sources: Credit Agreement (U S Home Corp /De/), Credit Agreement (U S Home Corp /De/), Credit Agreement (U S Home Corp /De/)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and on any date on which the Advance is prepaidat maturity, whether due to by acceleration or otherwise. Interest 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 an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time Cleveland time) at the place of receipt)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 DayDay and, 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: Term Loan Agreement (Glimcher Realty Trust), Term Loan Agreement (Glimcher Realty Trust), Term Loan Agreement (Glimcher Realty Trust)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and on any date on which the Advance is prepaidat maturity, whether due to by acceleration or otherwise. Interest and commitment all other fees shall be calculated for actual days elapsed on the basis of a 360-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 received prior to noon (local time time) at the place of receipt)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 on the next succeeding Business DayDay and, 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: Term Loan Agreement (Inland Real Estate Corp), Term Loan Agreement (Inland Real Estate Corp), Term Loan Agreement (Inland Real Estate Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance the Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and on any date on which the Advance is prepaidat maturity, whether due to by acceleration or otherwise. Interest and commitment fees Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance the Loan is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time Cleveland time) at the place of receipt)payment. If any payment of principal of or interest on an Advance the Loan shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business DayDay and, 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: Loan Agreement (Inland Diversified Real Estate Trust, Inc.), Loan Agreement (Inland Diversified Real Estate Trust, Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance Loan shall be payable on the last day of each Payment Datemonth, commencing with the first such date to occur after the date hereof, and on any date on which the Advance Loan is prepaid, whether prepaid due to acceleration or otherwise, and at maturity. Interest 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 an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time time) at the place of receipt)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 on the next succeeding Business DayDay and, 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 (Bingham Financial Services Corp), Credit Agreement (Origen Financial 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, hereof and on any date on which the Advance is prepaid, whether due to acceleration or otherwiseat maturity. Interest 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 an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon 1:00 p.m. (local time time) at the place of receipt)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 DayDay and, 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 (Alternative Resources Corp), Credit Agreement (Alternative Resources Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance Borrowing shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and on any date on which the Advance is prepaidat maturity, whether due to by acceleration or otherwise. Interest 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 an Advance a Borrowing is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time time) at the place of receipt)payment. If any payment of principal of or interest on an Advance a Borrowing shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business DayDay and, 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: Secured Term Loan Agreement (Developers Diversified Realty Corp), Secured Term Loan Agreement (Developers Diversified Realty Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each LIBO Rate Advance shall be payable on each Term Loan Payment Date, commencing with the first such date to occur after the date hereof, hereof and on any date on which the Advance is prepaid, whether due to acceleration or otherwiseat maturity. Interest and commitment fees shall be calculated for actual days elapsed on the basis of a 360-360 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 received prior to noon (local time time) at the place of receipt)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 the due date shall be made on extended to the next succeeding Business Day; provided, and however, that if such extension of time next succeeding Business Day occurs in the following calendar month, then the due date shall be included in computing interest in connection with such paymentthe immediately preceding Business Day.

Appears in 2 contracts

Sources: Credit Agreement (Barry R G Corp /Oh/), Credit Agreement (Barry R G Corp /Oh/)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and on any date on which the Advance is prepaidat maturity, whether due to by acceleration or otherwise. Interest 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 an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time time) at the place of receipt)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 DayDay and, 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: Secured Term Loan Agreement (Developers Diversified Realty Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and on any date on which the Advance is prepaidat maturity, whether due to by acceleration or otherwise. Interest and commitment fees Fees shall be calculated for actual days elapsed on the basis of a 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 received prior to noon (local time Cleveland time) at the place of receipt)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 DayDay and, 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: Term Loan Agreement (Glimcher Realty Trust)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and on any date on which the Advance is prepaidat maturity, whether due to by acceleration or otherwise, and upon any termination of the Aggregate Commitment in its entirety. Interest Interest, Facility Letter of Credit Fees and commitment all other fees shall be calculated for actual days elapsed on the basis of a 360-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 received prior to noon (local time Cleveland time) at the place of receipt)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 DayDay and, 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 (InvenTrust Properties Corp.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and on any date on which the Advance is prepaidat maturity, whether due to by acceleration or otherwise. Interest 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 an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time Cleveland time) at the place of receipt)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 DayDay and, 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: Loan Agreement (Glimcher Realty Trust)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance Revolving Credit Loan 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 Advance is prepaid, whether due to acceleration or otherwiseat maturity. Interest 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 an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time time) at the place of receipt)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 DayDay and, 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 (Lason Inc)

Interest Payment Dates; Interest and Fee Basis. Interest Subject to Section 2.3, interest accrued on each 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 Advance is prepaid, whether due to acceleration or otherwiseat maturity. Interest and commitment fees Fees shall be calculated for actual days elapsed on the basis of a 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 received prior to noon (local time at the place of receipt)payment prior to the time required for payment as set forth in Section 2.11. 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 DayDay and, 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: Revolving Credit Agreement (Pulte Homes Inc/Mi/)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and on any date on which the Advance is prepaidat maturity, whether due to by acceleration or otherwise, and upon any termination of the Aggregate Commitment in its entirety under Section 2.1 hereof. Interest and commitment all other fees shall be calculated for actual days elapsed on the basis of a 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 received prior to noon (local time Cleveland time) at the place of receipt)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 DayDay and, 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: Secured Line of Credit Loan Agreement (Glimcher Realty Trust)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on the last day of each Payment Datemonth, commencing with the first such date to occur after the date hereof, and on upon any date on which the Advance is prepaidprepayment, whether due to by acceleration or otherwise, and at the Facility Termination Date. Interest 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 an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time time) at the place of receipt)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 DayDay and, 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 (Developers Diversified Realty Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each LIBO 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 Advance is prepaid, whether due to acceleration or otherwiseat maturity. Interest and commitment fees shall be calculated for actual days elapsed on the basis of a 360-day yearyear and a 30 day month. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time time) at the place of receipt)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 DayDay and, 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 (Bancinsurance Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each 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 at maturity or termination of the Advance is prepaid, whether due to acceleration or otherwiseAggregate Commitment. Interest and commitment fees Fees shall be calculated for actual days elapsed on the basis of a 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 received prior to noon (local time at the place of receipt)payment prior to the time required for payment as set forth in Section 2.13. If any payment of principal of or interest on an Advance or of Fees shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business DayDay and, 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 (Mego Mortgage Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable in arrears on the last day of each Payment Datemonth, commencing with the first such date to occur after the date hereof, and on upon any date on which the Advance is prepaidprepayment, whether due to by acceleration or otherwise, and at the Facility Termination Date. Interest 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 an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time time) at the place of receipt)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 DayDay and, 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: Term Loan Credit Agreement (Developers Diversified Realty Corp)