Common use of Interest Rates and Payment Dates Clause in Contracts

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.

Appears in 4 contracts

Sources: Credit Agreement (National CineMedia, Inc.), Credit Agreement (National CineMedia, Inc.), Credit Agreement

Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate for such Eurocurrency Loan determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate Loan (including Dollar Swing Line Loans and Multicurrency Swing Line Loans denominated in United States Dollars) shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin Margin. Each Prime Rate Loan (including Multicurrency Swing Line Loans denominated in effect for such dayCanadian Dollars) shall bear interest at a rate per annum equal to the Prime Rate plus the Applicable Margin. (ic) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (xi) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or 2.00%, (yii) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under or (with respect to Reimbursement Obligations in respect of Letters of Credit denominated in Canadian Dollars) Prime Rate Loans in respect of the Revolving Credit applicable Facility plus 22.00%, and (iiiii) if all or a portion in the case of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityhereunder, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% or (or, with respect to interest payable on any Loan denominated in the case Canadian Dollars or on any Reimbursement Obligations in respect of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Letters of Credit denominated in Canadian Dollars) Prime Rate Loans under the Revolving Credit applicable Working Capital Facility plus 22.00%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount not paid when due is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that Date or on the applicable date with respect to interest accruing payable pursuant to paragraph (cSection 4.2(c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeabove.

Appears in 3 contracts

Sources: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP), Credit Agreement

Interest Rates and Payment Dates. (a) Each Eurodollar Loan Loans shall bear interest for each day during each Interest Period with respect thereto applicable thereto, commencing on (and including) the first day of such Interest Period to, but excluding, the last day of such Interest Period, on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin. (b) Each Alternate Base Rate Loan Loans shall bear interest for each day the period from and including the date such Loans are made to, but excluding, the maturity date thereof, or to, but excluding, the conversion date if such Loans are earlier converted into Eurodollar Loans on which it is outstanding the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (ic) If all or a portion of (i) the principal amount of any Loan of the Loans or Reimbursement Obligation (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) such Loan, if a Eurodollar Loan, shall be converted into an Alternate Base Rate Loan at the end of the then-current Interest Period for said Eurodollar Loan (which conversion shall occur automatically and without need for compliance with the conditions for conversion set forth in subsection 4.2), and any such overdue amount (to shall, without limiting the extent legally permitted) shall rights of the Lenders under Section 9, bear interest (which shall be payable on demand) at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in above the case of Reimbursement Obligations, the rate applicable to Alternate Base Rate Loans under plus the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% Applicable Margin (or, in the case of any such other amounts that do not relate to a particular FacilityEurodollar Loan, the rate then applicable to Base Eurodollar Rate Loans under for the Revolving Credit Facility Interest Period plus the Applicable Margin plus 2%), in each case, with respect to clauses (iif higher) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) Date and on the same Business Day if demand is made by date of payment in full of the Administrative Agent respective Loans and in the case of the Revolving Credit Loans on or prior to 11:00 a.m., New York City time and (ii) on date of termination of the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeRevolving Credit Commitments.

Appears in 3 contracts

Sources: Credit Agreement (CSK Auto Corp), Credit Agreement (CSK Auto Corp), Credit Agreement (CSK Auto Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day Interest Period plus the Applicable Margin in effect for such day. (b) Each Base Rate ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin. (c) Each Multicurrency Loan shall bear interest for each day on which that it is outstanding at a rate per annum equal to the Base Eurocurrency Rate in effect for such day plus the Applicable Margin in effect for such day. (id) Each CAF Advance shall bear interest at the rate determined in accordance with subsection 2.9. (e) If all or a portion of the (i) any principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on thereon, (iii) any Loan or Reimbursement Obligation or any commitment facility fee or (iv) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal of the Loans and/or any such overdue interest, commitment fee or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this subsection plus 2% or (or, y) in the case of any such overdue interest, facility fee or other amounts that do not relate to a particular Facilityamount, the rate then applicable to Base Rate Loans under the Revolving Credit Facility described in paragraph (b) of this subsection plus 2%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such overdue principal, interest, facility fee or other amount is paid in full (after as well after as before judgment). (df) Interest pursuant to this subsection shall be payable in arrears on each Interest Payment Date or CAF Advance Interest Payment Date, as the case may be, provided that interest accruing pursuant to paragraph (ce) of this Section subsection shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 3 contracts

Sources: Multi Year Revolving Credit Agreement (Boston Scientific Corp), Revolving Credit Agreement (Boston Scientific Corp), Revolving Credit Agreement (Boston Scientific Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect Margin; provided that each Fronted Foreign Currency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurocurrency Rate determined for such day. (b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, % and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 3 contracts

Sources: Credit Agreement (Wolverine World Wide Inc /De/), Credit Agreement (Wolverine World Wide Inc /De/), Credit Agreement (Wolverine World Wide Inc /De/)

Interest Rates and Payment Dates. (a) Each Eurodollar Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayEurodollar Rate Margin. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayRate. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment facility fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on (i) with respect to any Base Rate Loan, the last day of each Interest Payment March, June, September and December to occur while such Loan is outstanding and the Termination Date, provided (ii) with respect to any Eurodollar Rate Loan having an Interest Period of three months or shorter, the last day of such Interest Period, (iii) with respect to any Eurodollar Rate Loan having an Interest Period longer than three months, each day that is three months, or a whole multiple thereof, after the first day of such Interest Period and the last day of such Interest Period and (iv) as to any Loan (other than any Revolving Credit Loan that is a Base Rate Loan and any Swing Line Loan), the date of any repayment or prepayment made in respect thereof. Notwithstanding the foregoing, interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 2 contracts

Sources: Credit Agreement (Computer Associates International Inc), 364 Day Credit Agreement (Computer Associates International Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate ABR Loan shall bear interest for each day on which that it is outstanding at a rate per annum equal to the Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day. Each Swing Line Foreign Currency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Swing Line Foreign Currency Rate for such day plus 1.50% per annum plus the Applicable Margin in effect for such day for Eurocurrency Loans that are Revolving Credit Loans. (ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan thereon or Reimbursement Obligation or (iii) any commitment fee, letter of credit commission, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% which is (or, x) in the case of any such other amounts that do not relate to a particular Facilityoverdue principal, the rate then that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this subsection plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to Base Rate principal of the related Loan pursuant to the relevant foregoing provisions of this subsection (other than clause (x) above) plus 2.00% and (z) in the case of, fees, commissions or other amounts, the rate described in paragraph (b) of this subsection for ABR Loans under the that are Revolving Credit Facility Loans plus 22.00%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section subsection shall be payable from time to time on demand demand. (ie) on It is the same Business Day if demand intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is made stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made maximum amount of interest allowed by the Administrative Agent after 11:00 a.m., New York City timeapplicable usury laws.

Appears in 2 contracts

Sources: Credit Agreement (VWR International, Inc.), Credit Agreement (Sirva Inc)

Interest Rates and Payment Dates. (a) The Loans comprising each Eurodollar Borrowing shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (i) in the case of each Eurodollar Revolving Credit Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin and (ii) in the case of each Eurodollar Competitive Bid Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Margin offered by the Bank making such Loan and accepted by the Company pursuant to subsection 2.3. (b) Each Eurodollar Base Rate Loan shall bear interest for each day during which such Base Rate Loan is outstanding at a rate per annum equal to the Base Rate. (c) Each Fixed Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for fixed rate of interest offered by the Bank making such day plus Loan and accepted by the Applicable Margin in effect for such dayCompany pursuant to subsection 2.3. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (id) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityii) any interest payable thereon, by acceleration any fee or otherwise), such overdue any other amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto payable pursuant to the foregoing provisions terms of this Section plus 2% or Agreement (yother than attorneys' fees incurred in connection with the enforcement of the terms hereof) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this subsection plus 2% or (or, y) in the case of any such overdue interest, fee or other amounts that do not relate to a particular Facilityamount, the rate then applicable to Base Rate Loans under the Revolving Credit Facility described in paragraph (b) of this subsection plus 2%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (de) Interest on each Loan shall be payable in arrears on each Interest Payment DateDate applicable to such Loan, the Termination Date and upon any prepayment of such Loan, provided that interest accruing pursuant to paragraph (cd) of this Section subsection shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 2 contracts

Sources: 5 Year Credit Agreement (Cit Group Inc), Credit Agreement (Cit Group Inc)

Interest Rates and Payment Dates. (a) Each Subject to Section 2.13(c), each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Adjusted LIBO Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Subject to Section 2.13(c), each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.13 plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder or under any other Loan Document shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section 2.13 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 2 contracts

Sources: Refinancing Amendment and Joinder Agreement (Verint Systems Inc), Credit Agreement (Verint Systems Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan under each Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayFacility. (b) Each Base Rate Loan under each Facility shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayFacility. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 2 contracts

Sources: First Lien Credit Agreement (Six Flags Entertainment Corp), Credit Agreement (Six Flags, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan under each Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayFacility. (b) Each Base Rate Loan under each Facility shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayFacility. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such all overdue amount (to the extent legally permitted) amounts shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% per annum or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%% per annum, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) (after giving effect to any grace period in Section 10(a)), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment (after giving effect to any grace period in Section 10(a)) until such amount is paid in full (after as well as before judgment); provided that any Defaulting Lender shall not be entitled to receive any interest at the default rate of interest set forth in this clause (c) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such interest that otherwise would have been required to have been paid to that Defaulting Lender). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 2 contracts

Sources: Credit Agreement (Six Flags Entertainment Corp), Credit Agreement (Six Flags Entertainment Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan Loans shall bear interest for each day during each Interest Period with respect thereto applicable thereto, commencing on (and including) the first day of such Interest Period to, but excluding, the last day of such Interest Period, on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin. (b) Each Alternate Base Rate Loan Loans shall bear interest for each day the period from and including the date such Loans are made to, but excluding, the maturity date thereof, or to, but excluding, the conversion date if such Loans are earlier converted into Eurodollar Loans on which it is outstanding the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (ic) If all or a portion of (i) the principal amount of any Loan of the Loans or Reimbursement Obligation (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) such Loan, if a Eurodollar Loan, shall be converted into an Alternate Base Rate Loan at the end of the then-current Interest Period for said Eurodollar Loan (which conversion shall occur automatically and without need for compliance with the conditions for conversion set forth in subsection 4.2), and any such overdue amount (to shall, without limiting the extent legally permitted) shall rights of the Lenders under Section 9, bear interest (which shall be payable on demand) at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in plus the case of Reimbursement Obligations, the rate applicable to Alternate Base Rate Loans under plus the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% Applicable Margin (or, in the case of any such other amounts that do not relate to a particular FacilityEurodollar Loan, the rate then applicable to Base Eurodollar Rate Loans under for the Revolving Credit Facility Interest Period plus the Applicable Margin plus 2%), in each case, with respect to clauses (iif higher) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest Except as otherwise expressly provided for in this subsection 4.5, interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.

Appears in 2 contracts

Sources: Credit Agreement (Falcon Building Products Inc), Credit Agreement (Carter William Co /Ga/)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise)) after giving effect to any applicable grace period specified in paragraph (a) of Section 8, such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 2 contracts

Sources: Credit Agreement (Advent Software Inc /De/), Credit Agreement (Advent Software Inc /De/)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan Loans shall bear interest for each day during each Interest Period with respect thereto applicable thereto, commencing on (and including) the first day of such Interest Period to, but excluding, the last day of such Interest Period, on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin. (b) Each Alternate Base Rate Loan Loans shall bear interest for each day the period from and including the date such Loans are made to, but excluding, the maturity date thereof, or to, but excluding, the conversion date if such Loans are earlier converted into Eurodollar Loans on which it is outstanding the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (ic) If all or a portion of (i) the principal amount of any Loan of the Loans or Reimbursement Obligation (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) such Loan, if a Eurodollar Loan, shall be converted into an Alternate Base Rate Loan at the end of the then-current Interest Period for such Eurodollar Loan (which conversion shall occur automatically and without need for compliance with the conditions for conversion set forth in subsection 4.2), and any such overdue amount (to shall, without limiting the extent legally permitted) shall rights of the Lenders under Section 9, bear interest (which shall be payable on demand) at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in plus the case of Reimbursement Obligations, the rate applicable to Alternate Base Rate Loans under plus the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% Applicable Margin (or, in the case of any such other amounts that do not relate to a particular FacilityEurodollar Loan, the rate then applicable to Base Eurodollar Rate Loans under for the Revolving Credit Facility Interest Period plus the Applicable Margin plus 2%), in each case, with respect to clauses (iif higher) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest Except as otherwise expressly provided for in this subsection 4.5 or subsection 4.4(b), interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.

Appears in 2 contracts

Sources: Second Lien Credit Agreement (Stratus Technologies Bermuda Holdings Ltd.), Second Lien Credit Agreement (Stratus Technologies Bermuda Holdings Ltd.)

Interest Rates and Payment Dates. (a) Each Eurodollar LIBO Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar LIBO Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the LIBO Rate Loans, the a rate that would otherwise be applicable thereto pursuant per annum equal to the foregoing provisions LIBO Rate determined for such day plus the highest Applicable Margin for LIBO Rate Loans plus 2.0%, (y) in the case of this Section the Base Rate Loans, a rate per annum equal to the Base Rate determined for such day plus 2% the highest Applicable Margin for Base Rate Loans plus 2.0%, or (yz) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility calculated at the highest Applicable Margin for such Loans plus 22.0%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility calculated at the highest Applicable Margin for such Loans plus 22.0% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility calculated at the highest Applicable Margin for such Loans plus 22.0%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand demand. (ie) Interest on any Loan or other Obligation shall be payable in same currency as the same Business Day if demand currency in which such Loan or other Obligation is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timepayable.

Appears in 2 contracts

Sources: Credit Agreement (Tronox Inc), Credit Agreement (Tronox Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.

Appears in 2 contracts

Sources: Credit Agreement (National CineMedia, Inc.), Credit Agreement (National CineMedia, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.14 plus 2% or (y) in the case of Reimbursement ObligationsObligations under the Revolving Facility or the Tranche A LC Facility, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility or the Tranche A LC Facility, respectively, plus 2%, % and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee, Letter of Credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 2 contracts

Sources: Credit Agreement (Rent a Center Inc De), Credit Agreement (Rent a Center Inc De)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base ABR plus the Applicable Margin. (c) Each Foreign Currency Loan shall bear interest at a rate per annum equal to the Eurocurrency Rate in effect determined for such day plus the Applicable Margin in effect for such dayapplicable to Eurodollar Loans under the Revolving Facility. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (oror (x) in the case of Foreign Currency Loans, the rate then applicable to such Loans plus 2% and (y) in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 2 contracts

Sources: Credit Agreement (Allscripts Healthcare Solutions, Inc.), Replacement Facility Amendment (Allscripts Healthcare Solutions, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Daily Simple SOFR Rate Loan under each Facility shall bear interest for each day with respect thereto at a rate per annum equal to (i) the Adjusted Daily Simple SOFR Rate as determined for such day plus (ii) the Applicable Margin for such Facility. (b) Each Term SOFR Rate Loan under the Revolving Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar (i) Adjusted Term SOFR Rate as determined for such day plus (ii) the Applicable Margin in effect for such dayFacility. (bc) Each Immediately after written demand by the Administrative Agent (or by the Required Lenders to the Administrative Agent) after the occurrence and during the continuance of any Event of Default, any Daily Simple SOFR Rate Loans and Term SOFR Rate Loans will convert to Base Rate Loan shall bear interest for each day on which it is Loans. During the continuance of an Event of Default, all outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due Loans (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permittednot overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if . If all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder (other than any amount to which the preceding sentence is applicable) shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Daily Simple SOFR Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 2 contracts

Sources: Credit Agreement (Bungeltd), Credit Agreement (Bungeltd)

Interest Rates and Payment Dates. (a) Each Subject to Section 2.13(c), each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Subject to Section 2.13(c), each ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate ABR in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.13 plus 22.00% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 22.00%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder or under any other Loan Document shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 22.00% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 22.00%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section 2.13 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 2 contracts

Sources: Credit Agreement (Verint Systems Inc), Credit Agreement (Verint Systems Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate Adjusted Term SOFR determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day from time to time plus the Applicable Margin in effect for such dayMargin. (ic) If all Notwithstanding the foregoing, upon the occurrence and during the continuance of an Event of Default under Section 7.1(a) or a portion of (b), at any time after the date on which any principal amount of any Term Loan or Reimbursement Obligation shall not be paid when is due and payable (whether at on the stated maturitymaturity date therefor, by upon acceleration or otherwise), or after any other monetary Obligation of the Borrower or any other Loan Party shall have become due and payable, and, in each case, for so long as such overdue amount (Obligation remains unpaid, the Borrower shall pay, but only to the extent legally permittedpermitted by law, interest (after as well as before judgment) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such unpaid overdue amount shall bear interest amounts at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, i) in the case of overdue principal on any Term Loan, the rate of interest that otherwise would be applicable to such Term Loan plus 2% per annum and (ii) in the case of overdue interest, fees, and other amounts that do not relate to a particular Facilitymonetary Obligations, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment)% per annum. (d) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand demand. (ie) on In connection with the same Business Day if demand is made by use or administration of Term SOFR, the Administrative Agent on will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or prior in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the this Agreement or any other Loan Document. The Administrative Agent after 11:00 a.m., New York City timewill promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.

Appears in 2 contracts

Sources: Term Loan Credit Agreement (Micron Technology Inc), Term Loan Credit Agreement (Micron Technology Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for applicable to such day Eurodollar Loan plus the Applicable Margin with respect to Eurodollar Loans in effect for such day. (ba) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day. (b) Each Swing Line Loan which is a Money Market Loan or a Eurodollar Loan shall bear interest for each day on which it is outstanding prior to maturity thereof at a rate per annum equal to the applicable Money Market Rate or the rate then applicable to such Eurodollar Loan (including the Applicable Margin) and thereafter, at a rate per annum equal to the rate then applicable to Base Rate Loans (including the Applicable Margin) pursuant to this Section. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to whether or not overdue)(to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under (including the Revolving Credit Facility Applicable Margin) plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under (including the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility Applicable Margin) plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non‑payment until such amount is paid in full (after as well as before judgment). If one of the events described in Section 8(f) shall have occurred and be continuing with respect to the Borrower, or if, after giving a notice referred to in Section 2.4(b), for any other reason, as determined by the applicable Swing Line Lender in its sole discretion, Revolving Credit Loans may not be made as contemplated by Section 2.4(b), each Swing Line Loan shall bear interest until paid in full at a rate per annum equal to the rate then applicable to Base Rate Loans (including the Applicable Margin) plus 2%. (d) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Northwestern Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment)) and (iii) if any Significant Event of Default has occurred and is continuing, then at the election of the Administrative Agent or the Required Lenders, all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, from the date of such Significant Event of Default occurs until such time the applicable Significant Event of Default has been waived in writing by the necessary Lenders, as required pursuant to the terms of this Agreement. (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand demand. (ie) Each Borrower hereby agrees that accrued and unpaid interest in an amount equal to $473,782.85 due and owing to the Revolving Credit Lenders under the Existing Credit Agreement as of the First Amendment Effective Date shall be deemed accrued and continued hereunder and shall be paid in cash by the Borrowers to the Administrative Agent, for the benefit of such Revolving Credit Lenders under the Existing Credit Agreement on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedate hereof.

Appears in 1 contract

Sources: Credit Agreement (Delek US Holdings, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar EurodollarEurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar EurodollarEurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect ABR determined for such day plus the Applicable Margin in effect for such dayMargin. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount ) all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) (x) if all or a portion of any interest payable on any Dollar Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder in Dollars shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (in the case of any Reimbursement Obligations converted into Dollars on the applicable Reimbursement Date if necessary) shall bear interest at a rate per annum equal to the rate then applicable to ABR Loans plus 2% and (y) if all or a portion of any interest payable on any Foreign Currency Loan or other amount payable hereunder in any Foreign Currency shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then that would otherwise be applicable to Base Rate Foreign Currency Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) demand. If any Letters of Credit remain outstanding on the same Business Day if demand is made by Termination Date the Administrative Agent fees in respect thereof shall be payable from time to time on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (MARRIOTT VACATIONS WORLDWIDE Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan under each Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayFacility. (b) Each Base Rate Loan under each Facility shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayFacility. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such all overdue amount (to the extent legally permitted) amounts shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% per annum or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%% per annum, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) (after giving effect to any grace period in Section 10(a)), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, ,with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment (after giving effect to any grace period in Section 10(a)) until such amount is paid in full (after as well as before judgment); provided that any Defaulting Lender shall not be entitled to receive any interest at the default rate of interest set forth in this clause (c) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such interest that otherwise would have been required to have been paid to that Defaulting Lender). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Six Flags Entertainment Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day Interest Period plus the Applicable Margin in effect for such day. (b) Each Base Rate ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin. (c) Each Multicurrency Loan shall bear interest for each day on which that it is outstanding at a rate per annum equal to the Base Eurocurrency Rate in effect for such day plus the Applicable Margin in effect for such day. (id) Each CAF Advance shall bear interest at the rate determined in accordance with subsection 2.9. (e) If all or a portion of the (i) any principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on thereon, (iii) any Loan or Reimbursement Obligation or any commitment facility fee or (iv) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal of the Loans and any such overdue interest, commitment fee or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this subsection plus 2% or (or, y) in the case of any such overdue interest, facility fee or other amounts that do not relate to a particular Facilityamount, the rate then applicable to Base Rate Loans under the Revolving Credit Facility described in paragraph (b) of this subsection plus 2%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such overdue principal, interest, facility fee or other amount is paid in full (after as well after as before judgment). (df) Interest pursuant to this subsection shall be payable in arrears on each Interest Payment Date or CAF Advance Interest Payment Date, provided as the case may be, PROVIDED that interest accruing pursuant to paragraph (ce) of this Section subsection shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Bei Medical Systems Co Inc /De/)

Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall bear interest for each day during each the Interest Period with respect thereto at a rate per annum equal to the Eurodollar LIBOR Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (i) If all or a portion of the principal amount of any Revolving Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Revolving Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Revolving Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Revolving Loan or Reimbursement Obligation or any commitment fee (including any unused commitment fee) or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Revolving Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular the Revolving Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Labor Ready Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Alternate Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan thereon or Reimbursement Obligation or (iii) any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is the higher of (A) the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this Section 4.4 plus 2% and (or, in B) the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Alternate Base Rate Loans under the Revolving Credit Facility plus 21%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).. SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section 4.4 shall be payable from time to time on demand demand. (e) With respect to any Initial Term Loan, whether an Alternate Base Rate Loan or a Eurodollar Loan, in the event that, on any date, (i) on the same Business Day if demand Borrower's senior, long-term unsecured debt rating issued by S&P is made by the Administrative Agent on or prior to 11:00 a.m., New York City time less than BB+ and (ii) the Borrower's senior, long-term unsecured debt rating issued by ▇▇▇▇▇'▇ is less than Ba2 or the Borrower's senior secured debt rating issued by ▇▇▇▇▇'▇ is less than Ba1, then on such date the Applicable Margin with respect to Initial Term Loans that are Alternate Base Rate Loans shall be 3.25% per annum and the Applicable Margin for Initial Term Loans that are Eurodollar Loans shall be 4.50% per annum, which adjustment to the Applicable Margin for Initial Term Loans shall become effective on the next Business Day if demand date that such event occurs and the increase shall continue until the date upon which (x) the Borrower's senior, long-term unsecured debt rating issued by S&P is made equal to or greater than BB+ and (y) the Borrower's senior, long-term unsecured debt rating issued by ▇▇▇▇▇'▇ is equal to or greater than Ba2 or the Administrative Agent after 11:00 a.m.Borrower's senior secured debt rating issued by ▇▇▇▇▇'▇ is equal to or greater than Ba1, New York City timeon which date the Applicable Margin for Initial Term Loans will return to 2.25% per annum for Alternate Base Rate Loans and 3.50% per annum for Eurodollar Loans.

Appears in 1 contract

Sources: Credit Agreement (Gulfterra Energy Partners L P)

Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan under each Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayFacility. (b) Each Base Rate Loan under each Facility shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayFacility. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Multicurrency Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided PROVIDED that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Premier Parks Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar (i) Term Benchmark Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Adjusted Term SOFR Rate determined for such day plus the Applicable Margin in effect for such day. and (bii) Each Base Rate RFR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect Adjusted Daily Simple SOFR determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand demand. (ie) on Each Swingline Loan shall bear interest at rate per annum equal to the same Business Day if demand is made ABR plus the Applicable Margin or such other rate as may be from time to time determined by mutual agreement between the Administrative Agent on or prior to 11:00 a.m., New York City time Swingline Lender and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeBorrower.

Appears in 1 contract

Sources: Credit Agreement (Universal Health Services Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan Loans shall bear interest for each day during each Interest Period with respect thereto applicable thereto, commencing on (and including) the first day of such Interest Period to, but excluding, the last day of such Interest Period, on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin. (b) Each Alternate Base Rate Loan Loans shall bear interest for each day the period from and including the date such Loans are made to, but excluding, the maturity date thereof, or to, but excluding, the conversion date if such Loans are earlier converted into Eurodollar Loans on which it is outstanding the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (ic) If all or a portion of (i) the principal amount of any Loan of the Loans or Reimbursement Obligation (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) such Loan, if a Eurodollar Loan, shall be converted into an Alternate Base Rate Loan at the end of the then-current Interest Period for said Eurodollar Loan (which conversion shall occur automatically and without need for compliance with the conditions for conversion set forth in subsection 4.2), and any such overdue amount (to shall, without limiting the extent legally permitted) shall rights of the Lenders under Section 9, bear interest (which shall be payable on demand) at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in above the case of Reimbursement Obligations, the rate applicable to Alternate Base Rate Loans under plus the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% Applicable Margin (or, in the case of any such other amounts that do not relate to a particular FacilityEurodollar Loan, the rate then applicable to Base Eurodollar Rate Loans under for the Revolving Credit Facility Interest Period plus the Applicable Margin plus 2%), in each case, with respect to clauses (iif higher) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) Date and on the same Business Day if demand is made by date of payment in full of the Administrative Agent respective Loans and in the case of the Revolving Loans on or prior to 11:00 a.m., New York City time and (ii) on date of termination of the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeRevolving Commitments.

Appears in 1 contract

Sources: Credit Agreement (CSK Auto Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Term Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin Interest Rate, subject to adjustment as set forth in effect for such day.this Section 2.4. ​ (b) Each Base Rate Loan shall During the continuance of an Event of Default, the outstanding Obligations shall, at the election of the Agent (or automatically upon an Event of Default pursuant to Section 7.1(a), (d) or (e)) bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. lesser of (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would ​ ​ Presto Credit Agreement 30 ​ ​ ​ ​ otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or five percent (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 25%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) abovethe maximum rate allowed by applicable Law (the “Default Rate”). The terms of this paragraph shall not be construed as Agent’s consent to ▇▇▇▇▇▇▇▇’s failure to pay any amounts in strict accordance with this Agreement, from the date and Agent’s charging any such fees and/or acceptance of any such nonpayment until payments shall not restrict Agent’s exercise of any remedies arising out of any such amount is paid in full (after as well as before judgment)failure. (dc) Interest Accrued interest shall be payable in arrears on each Interest Payment Date; provided that, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m.the date that is eighteen (18) months following the Closing Date, New York City time and a portion of the interest payable on each Interest Payment Date equal to the applicable PIK Limit may be paid on such Interest Payment Date as PIK Interest if not less than five (ii5) Business Days prior to such Interest Payment Date, Borrower notifies Agent in writing of its intention to pay a portion of such interest in kind on such Interest Payment Date. All PIK Interest shall be compounded on the next Business Day if demand is made applicable Interest Payment Date by capitalizing the Administrative Agent amount of such PIK Interest and adding the same to the principal balance of the Term Loan, after 11:00 a.m.which such PIK Interest shall accrue interest at the Interest Rate and otherwise constitute principal under the Term Loan for all purposes (including, New York City time.without limitation, for purposes of calculating interest on the principal amount thereof). For the avoidance of doubt, all accrued and unpaid PIK Interest, together with all other Obligations hereunder, shall be payable by Borrower on the Maturity Date. All interest payable in cash shall be payable on each Interest Payment Date in accordance with Section 2.6. ​

Appears in 1 contract

Sources: Credit Agreement (Presto Automation Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (ic) If all Automatically, after the occurrence and during the continuance of an Event of Default described in Section 7.01(a), Section 7.01(f) or a portion of Section 7.01(g) and (ii) after notice to the principal amount Borrower from the Required Lenders, after the occurrence and during the continuance of any Loan or Reimbursement Obligation other Event of Default, the Borrower shall not be paid when due pay interest on all amounts (whether at the stated maturity, or not past due) owing by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest it hereunder at a rate per annum that is at all times, after as well as before judgment, equal to (x) in the case of principal, at the Loansrate otherwise applicable to such Loan pursuant to Section 2.11(a) or Section 2.11(b), as applicable, plus 2.00% per annum and (y) in all other cases, at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days) equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate 2.00% per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%)annum, in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment Event of Default or if later, the date specified in any such notice until such amount Event of Default is paid in full (after as well as before judgment)cured or waived. (d) Interest shall be due and payable by the Borrower in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to paragraph (cSection 2.11(c) of this Section shall be due and payable from time upon demand. On each Interest Payment Date, the Borrower shall have the option of paying a portion of the interest due in an amount up to time 2.5% per annum in cash or in kind (“PIK Interest”) by capitalizing such amount and adding it to the principal amount of the Loans. If the Borrower elects to make payments of interest in cash pursuant to the immediately preceding sentence, the Borrower shall notify the Disbursing Agent of such election at least three Business Days prior to the applicable Interest Payment Date. (e) Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. (f) All computations of interest for Base Rate Loans determined by reference to the “Prime Rate” shall be made on demand the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (i) which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid; provided that any Loan that is repaid on the same Business Day if demand day on which it is made shall, bear interest for one day. Each determination by the Administrative Disbursing Agent on of an interest rate or prior to 11:00 a.m.fee hereunder shall be conclusive and binding for all purposes, New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeabsent manifest error.

Appears in 1 contract

Sources: Credit Agreement (FreightCar America, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin with respect to Eurodollar Loans in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day. (c) Each Swing Line Loan which is a Money Market Loan or a Eurodollar Loan shall bear interest for each day on which it is outstanding prior to maturity thereof at a rate per annum equal to the applicable Money Market Rate or the rate then applicable to such Eurodollar Loan and thereafter, at a rate per annum equal to the rate then applicable to Base Rate Loans pursuant to this Section. (d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). If one of the events described in Section 8(f) shall have occurred and be continuing with respect to the Borrower, or if, after giving a notice referred to in Section 2.4(b), for any other reason, as determined by the applicable Swing Line Lender in its sole discretion, Revolving Credit Loans may not be made as contemplated by Section 2.4(b), each Swing Line Loan shall bear interest until paid in full at a rate per annum equal to the rate then applicable to Base Rate Loans plus 2%. (de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Northwestern Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan Eurocurrency Borrowing shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayEurocurrency Loans. (b) Each Base Rate Loan ABR Borrowing shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect ABR determined for such day plus the Applicable Margin in effect for such dayABR Loans. (ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityBorrowing, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan thereon or Reimbursement Obligation or (iii) any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% which is (or, x) in the case of any such other amounts that do not relate to a particular Facilityoverdue principal, the rate then that would otherwise be applicable thereto pursuant to Base Rate Loans under the Revolving Credit Facility foregoing provisions of this paragraph (c) plus 2%)% per annum or (y) in the case of overdue interest, commitment fee or other amount, the rate described in paragraph (b) of this Section plus 2% per annum, in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) If and so long as any Lender is required to make special deposits to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender’s Eurocurrency Loans in any currency other than Dollars, the Administrative Agent may require the Borrower to pay, for the account of such Lender, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs as may be applicable thereto and calculated in accordance with the formula and in the manner set forth in Exhibit 2.9 hereto. (e) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (but excluding requirements reflected in the Eurocurrency Reserve Requirements or the Mandatory Costs) in respect of any of such Lender’s Eurocurrency Loans in any currency other than Dollars, such Lender may require the Borrower to pay, contemporaneously with each payment of interest on each of such Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. (f) Any additional interest owed pursuant to paragraph (d) or (e) above shall be determined by the Administrative Agent and notified to the Borrower in the form of a certificate setting forth such additional interest at least five Business Days before each date on which interest is payable for the relevant Loan, and such additional interest so notified to the Borrower by the Administrative Agent shall be payable to the Administrative Agent for the account of the respective Lender on each date on which interest is payable for such Loan. (g) Failure or delay on the party of any Lender on any occasion to demand additional interest pursuant to this Section shall not constitute a waiver of such Lender’s right to demand such additional interest on any subsequent occasion. (h) Interest shall be payable in arrears on each Interest Payment Date; provided that, provided that interest accruing pursuant to paragraph (cSection 2.9(c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Landstar System Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar LIBOR Adjusted Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (ic) If any Default shall have occurred and be continuing, all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) amounts outstanding shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions described in paragraph (b) of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of the occurrence of such nonpayment Default until such amount Default is paid in full no longer continuing (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand demand. (e) For purposes of determining (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time Applicable Margin for all Loans and (ii) the Applicable Margin for the letter of credit fees referred to in Section 2.5(e), interest rates on the next Business Day if demand is made Loans and such fees shall be calculated on the basis of the Maximum Total Debt Ratio set forth in the most recent Covenant Compliance Certificate received by the Administrative Agent after 11:00 a.m.in accordance with Section 5.1(b). For accrued and unpaid interest and fees only (no changes being made for interest or fee payments previously made), New York City timechanges in interest rates on the Loans, or in such fees, attributable to changes in the Applicable Margin caused by changes in the Maximum 42 Total Debt Ratio shall be calculated upon the delivery of a Covenant Compliance Certificate, and such change shall be effective (y) in the case of a Base Rate Loan or such fees, from the first day subsequent to the last day covered by the Covenant Compliance Certificate and (z) in the case of a LIBOR Loan, from the first day of the Interest Period applicable to such LIBOR Loan subsequent to the last day covered by the Covenant Compliance Certificate. If, for any reason, the Borrower shall fail to deliver a Covenant Compliance Certificate when due in accordance with Section 5.1(b), and such failure shall continue for a period of ten days, the Revolving/Term A Leverage Level shall be deemed to be Revolving/Term A Leverage ▇▇▇▇▇ ▇, and the Term B Leverage Level shall be deemed to be Term B Leverage ▇▇▇▇▇ ▇, for purposes of determining the Applicable Margin on Loans or fees, as applicable, in each case retroactive to the date on which the Borrower should have delivered such Covenant Compliance Certificate and shall continue until a Covenant Compliance Certificate indicating a different Revolving/Term A Leverage Level or Term B Leverage Level, as applicable, is delivered to the Agent. Notwithstanding the foregoing, the Applicable Margin for the period from the Closing Date to and including the date on which the Agent receives the financial statements required by Section 5.1(a) with respect to the Borrower's fiscal year ending December 31, 2000, shall be Revolving/Term A Leverage Level 1 and Term B Leverage Level 1, as applicable.

Appears in 1 contract

Sources: Credit Agreement (Entravision Communications Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar LIBOR Adjusted Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (ic) If any Event of Default shall have occurred and be continuing, all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) amounts outstanding shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions described in paragraph (b) of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of the occurrence of such nonpayment Event of Default until such amount Event of Default is paid in full no longer continuing (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time on demand. (e) For purposes of determining the Applicable Margin for all Loans, the letter of credit fees referred to time on demand (iin Section 2.5(e) and the commitment fee referred to in Section 2.18, interest rates on the same Business Day if demand is made Loans and such fees shall be calculated on the basis of the Maximum Total Debt Ratio set forth in the most recent Covenant Compliance Certificate received by the Administrative Agent on in accordance with Section 5.2(a) (which Certificate shall be accompanied by the relevant financial statements for such period). For accrued and unpaid interest and fees only (no changes being made for interest or prior to 11:00 a.m.fee payments previously made), New York City time and (ii) changes in interest rates on the next Loans, or in such fees, attributable to changes in the Applicable Margin caused by changes in the Maximum Total Debt Ratio set forth in the applicable Covenant Compliance Certificate shall be calculated upon the delivery of a Covenant Compliance Certificate (accompanied by such financial statements) and such change shall be effective from (and including) the day which is two Business Day if demand is made Days after receipt by the Administrative Agent after 11:00 a.m.of such Covenant Compliance Certificate and financial statements. If, New York City timefor any reason, the Borrower shall fail to deliver a Covenant Compliance Certificate and such financial statements when due in accordance with Section 5.1(a) and 5.2(a), and such failure shall continue for a period of ten days, the Applicable Margin shall be deemed to be at the highest pricing, retroactive to the date on which the Borrower should have delivered such Covenant Compliance Certificate and such financial statements and shall continue until a Covenant Compliance Certificate and financial statements indicating a different result is delivered to the Agent. Notwithstanding the foregoing, there shall be no reductions in the Applicable Margin during any period in which an Event of Default has occurred and is continuing.

Appears in 1 contract

Sources: Credit Agreement (Friendship Cable of Arkansas Inc)

Interest Rates and Payment Dates. (a) The Loans comprising each Eurodollar Borrowing shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (i) in the case of each Eurodollar Revolving Credit Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin and (ii) in the case of each Eurodollar Competitive Bid Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Margin offered by the Bank making such Loan and accepted by the Company pursuant to subsection 2.3. (b) Each Eurodollar Base Rate Loan shall bear interest for each day during which such Base Rate Loan is outstanding at a rate per annum equal to the Base Rate. (c) Each Fixed Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for fixed rate of interest offered by the Bank making such day plus Loan and accepted by the Applicable Margin in effect for such dayCompany pursuant to subsection 2.3. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (id) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityii) any interest payable thereon, by acceleration any fee or otherwise), such overdue any other amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto payable pursuant to the foregoing provisions terms of this Section plus 2% or Agreement (yother than attorneys' fees incurred in connection with the enforcement of the terms hereof) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this subsection plus 2% or (or, y) in the case of any such overdue interest, fee or other amounts that do not relate to a particular Facilityamount, the rate then applicable to Base Rate Loans under the Revolving Credit Facility described in paragraph (b) of this subsection plus 2%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (de) Interest on each Loan shall be payable in arrears on each Interest Payment DateDate applicable to such Loan, provided the Termination Date and upon any prepayment of such Loan, PROVIDED that interest accruing pursuant to paragraph (cd) of this Section subsection shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: 5 Year Credit Agreement (Cit Group Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Indenture (Dobson Communications Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Alternate Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan thereon or Reimbursement Obligation or (iii) any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is the higher of (A) the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this Section 4.4 plus 2% and (or, in B) the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Alternate Base Rate Loans under the Revolving Credit Facility plus 21%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section 4.4 shall be payable from time to time on demand demand. (e) With respect to any Initial Term Loan, whether an Alternate Base Rate Loan or a Eurodollar Loan, in the event that, on any date, (i) on the same Business Day if demand Borrower's senior, long-term unsecured debt rating issued by S&P is made by the Administrative Agent on or prior to 11:00 a.m., New York City time less than BB+ and (ii) the Borrower's senior, long-term unsecured debt rating issued by Moody's is less than Ba2 or the Borrower's senior secured debt rating ▇▇▇▇▇▇ by Moody's is less than Ba1, then on such date the Applicable Margin wit▇ ▇▇▇▇▇ct to Initial Term Loans that are Alternate Base Rate Loans shall be 3.25% per annum and the Applicable Margin for Initial Term Loans that are Eurodollar Loans shall be 4.50% per annum, which adjustment to the Applicable Margin for Initial Term Loans shall become effective on the next Business Day if demand date that such event occurs and the increase shall continue until the date upon which (x) the Borrower's senior, long-term unsecured debt rating issued by S&P is made equal to or greater than BB+ and (y) the Borrower's senior, long-term unsecured debt rating issued by Moody's is equal to or greater than Ba2 or the Administrative Agent after 11:00 a.m.Borrower's senior secu▇▇▇ ▇▇▇t rating issued by Moody's is equal to or greater than Ba1, New York City timeon which date the Applicable ▇▇▇▇▇▇ for Initial Term Loans will return to 2.25% per annum for Alternate Base Rate Loans and 3.50% per annum for Eurodollar Loans.

Appears in 1 contract

Sources: Credit Agreement (El Paso Energy Partners Lp)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan Eurocurrency Borrowing shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayEurocurrency Loans. (b) Each Base Rate Loan ABR Borrowing shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect ABR determined for such day plus the Applicable Margin in effect for such dayABR Loans. (ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityBorrowing, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan thereon or Reimbursement Obligation or (iii) any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% which is (or, x) in the case of any such other amounts that do not relate to a particular Facilityoverdue principal, the rate then that would otherwise be applicable thereto pursuant to Base Rate Loans under the Revolving Credit Facility foregoing provisions of this paragraph (c) plus 2%)% per annum or (y) in the case of overdue interest, commitment fee or other amount, the rate described in paragraph (b) of this Section plus 2% per annum, in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) If and so long as any Lender is required to make special deposits to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender’s Eurocurrency Loans in any currency other than Dollars, the Administrative Agent may require the Borrower to pay, for the account of such Lender, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Rate as may be applicable thereto and calculated in accordance with the formula and in the manner set forth in Schedule 1.1(D). (e) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (but excluding requirements reflected in the Eurocurrency Reserve Requirements or the Mandatory Costs Rate) in respect of any of such Lender’s Eurocurrency Loans in any currency other than Dollars, such Lender may require the Borrower to pay, contemporaneously with each payment of interest on each of such Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan. (f) Any additional interest owed pursuant to paragraph (d) or (e) above shall be determined by the Administrative Agent and notified to the Borrower in the form of a certificate setting forth such additional interest at least five Business Days before each date on which interest is payable for the relevant Loan, and such additional interest so notified to the Borrower by the Administrative Agent shall be payable to the Administrative Agent for the account of the respective Lender on each date on which interest is payable for such Loan. (g) Failure or delay on the party of any Lender on any occasion to demand additional interest pursuant to this Section shall not constitute a waiver of such Lender’s right to demand such additional interest on any subsequent occasion. (h) Interest shall be payable in arrears on each Interest Payment Date; provided that, provided that interest accruing pursuant to paragraph (cSection 2.9(c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Landstar System Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non‑payment until such amount is paid in full (after as well as before judgment)) and (iii) if any Significant Event of Default has occurred and is continuing, then at the election of the Administrative Agent or the Required Lenders, all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, from the date of such Significant Event of Default occurs until such time the applicable Significant Event of Default has been waived in writing by the necessary Lenders, as required pursuant to the terms of this Agreement. (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand demand. (ie) Each Borrower hereby agrees that accrued and unpaid interest in an amount equal to $104,625.46 due and owing to the Revolving Credit Lenders under the Existing Credit Agreement as of the Third Restatement Effective Date shall be deemed accrued and continued hereunder and shall be paid in cash by the Borrowers to the Administrative Agent, for the benefit of such Revolving Credit Lenders under the Existing Credit Agreement on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedate hereof.

Appears in 1 contract

Sources: Credit Agreement (Delek US Holdings, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Serologicals Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan under each Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayFacility. (b) Each Base Rate Loan under each Facility shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayFacility. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such all overdue amount (to the extent legally permitted) amounts shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% per annum or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%% per annum, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) (after giving effect to any grace period in Section 10(a)), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment (after giving effect to any grace period in Section 10(a)) until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Six Flags Entertainment Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan under each Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayFacility. (b) Each Base Rate Loan under each Facility shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayFacility. (c) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such all overdue amount (to the extent legally permitted) amounts shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% per annum or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%% per annum, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) (after giving effect to any grace period in Section 10(a)), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment (after giving effect to any grace period in Section 10(a)) until such amount is paid in full (after as well as before judgment); provided that any Defaulting Lender shall not be entitled to receive any interest at the default rate of interest set forth in this clause (c) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such interest that otherwise would have been required to have been paid to that Defaulting Lender). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.demand. ​

Appears in 1 contract

Sources: Credit Agreement (Six Flags Entertainment Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate ABR Loan shall bear interest for each day on which that it is outstanding at a rate per annum equal to the Base ABR for such day plus the Applicable Margin in effect for such day. (c) Each BA Equivalent Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the BA Rate in effect for such day plus the Applicable Margin in effect for such day. (id) Each Canadian Prime Rate Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Canadian Prime Rate in effect for such day plus the Applicable Margin in effect for such day. (e) Each ▇▇▇▇▇ Loan shall bear interest for each day that it is outstanding at a rate per annum equal to Daily Simple ▇▇▇▇▇ determined for such day plus the Applicable Margin in effect for such day. (f) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan thereon or Reimbursement Obligation or (iii) any commitment fee, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% which is (or, x) in the case of any such other amounts that do not relate to a particular Facilityoverdue principal, the rate then that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to Base Rate principal of the related Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of fees or other amounts, the rate described in paragraph (b) of this Section 4.1 for ABR Loans under the Revolving Credit Facility plus 22.00%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment); provided that (1) no amount shall be payable pursuant to this Section 4.1(f) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) no amounts shall accrue pursuant to this Section 4.1(f) on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender. (dg) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cf) of this Section 4.1 shall be payable from time to time on demand demand. (ih) on It is the same Business Day if demand intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is made stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made maximum amount of interest allowed by the Administrative Agent after 11:00 a.m., New York City timeapplicable usury laws.

Appears in 1 contract

Sources: Credit Agreement (Hertz Corp)

Interest Rates and Payment Dates. (a) Each Subject to Section 2.13(c), each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Adjusted LIBO Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Subject to Section 2.13(c), each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.13 plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder or under any other Loan Document shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section 2.13 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Verint Systems Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto -------------------------------- at a rate per annum equal to the Eurodollar Federal Funds Rate determined for such day plus the Applicable Margin Margin. In addition, during the period from December 1, 1999 to January 31, 2000, if a Lender's cost of funds exceeds the Federal Funds Rate, then the Federal Funds Rate shall be adjusted upwards in effect an amount, not to exceed 1.50% per annum, equal to the excess of such ▇▇▇▇▇▇'s cost of funding over the Federal Funds Rate. If any Lender becomes entitled to claim any such additional amounts, it shall promptly notify the Borrowers (with a copy to the Administrative Agent) of the event by reason of which it has become so entitled by providing a certificate setting forth in reasonable detail the basis for the claim for additional amounts, the amounts required to be paid by the Borrowers to such Lender, and the computations made by such Lender to determine the amounts; provided that such Lender shall not be required to disclose any confidential information. Failure or delay on the part of any Lender to demand compensation pursuant hereto shall not constitute a waiver of such ▇▇▇▇▇▇'s right to demand such compensation; provided that a Lender claiming such compensation pursuant to this Section 2.7 must have made its demand for such daycompensation on or before March 15, 2000. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal Notwithstanding any provision to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. contrary contained herein, (i) If all or a portion of upon the principal amount occurrence and continuance of any Loan Event of Default specified in Section 7(e) with respect to a Borrower or Reimbursement Obligation shall not be paid when due (whether at ii) upon notice given by the stated maturity, by acceleration Administrative Agent or otherwise), such overdue amount (the Required Lenders to the extent legally permitted) Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section section 2.7(a), plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if per annum. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable on thereon or (iii) any Loan or Reimbursement Obligation or any commitment fee Commitment Fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this section 2.7 (a) plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, per annum from the date of such nonpayment non-payment until such amount is paid in full (after before as well as before after judgment). (dc) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to the second sentence of -------- paragraph (cb) of this Section section 2.7 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Excelsior Funds Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), all such overdue amount (to the extent legally permitted) amounts shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 22.0% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 22.0%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 22.0% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 22.0%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Gentiva Health Services Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate Adjusted Term SOFR determined for such day plus the Applicable Margin in effect for such daytherefor. (b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding from the Closing Date or applicable Conversion Date, as the case may be, at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such daytherefor. (ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on thereon or (iii) any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall shall, to the extent permitted by applicable law, bear interest at a rate per annum which is equal to the rate then 21 ‌ ‌ ​ ​ otherwise applicable to Base Rate Loans under the relevant Facility thereto plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until non-payment to (but excluding) the date on which such amount is paid in full (after as well as before judgment) (or, in the event there is no applicable rate, 2.0% per annum in excess of the rate otherwise applicable to ABR Loans from time to time). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) and on the same Business Day if demand is made by Maturity Date. (e) In connection with the use or administration of Term SOFR, the Administrative Agent on will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or prior in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the this Agreement or any other Loan Document. The Administrative Agent after 11:00 a.m., New York City timewill promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.

Appears in 1 contract

Sources: Term Loan Credit Agreement (SOUTHERN CALIFORNIA EDISON Co)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at -------------------------------- a rate per annum equal to the Eurodollar Federal Funds Rate determined for such day plus the Applicable Margin Margin. In addition, during the period from December 1, 1999 to January 31, 2000, if a Lender's cost of funds exceeds the Federal Funds Rate, then the Federal Funds Rate shall be adjusted upwards in effect an amount, not to exceed 1.50% per annum, equal to the excess of such Lender's cost of funding over the Federal Funds Rate. If any Lender becomes entitled to claim any such additional amounts, it shall promptly notify the Borrowers (with a copy to the Administrative Agent) of the event by reason of which it has become so entitled by providing a certificate setting forth in reasonable detail the basis for the claim for additional amounts, the amounts required to be paid by the Borrowers to such Lender, and the computations made by such Lender to determine the amounts; provided that such Lender shall not be required to disclose any confidential information. Failure or delay on the part of any Lender to demand compensation pursuant hereto shall not constitute a waiver of such Lender's right to demand such compensation; provided that a Lender claiming such compensation pursuant to this Section 2.7 must have made its demand for such daycompensation on or before March 15, 2000. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal Notwithstanding any provision to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. contrary contained herein, (i) If all or a portion of upon the principal amount occurrence and continuance of any Loan Event of Default specified in Section 7(e) with respect to a Borrower or Reimbursement Obligation shall not be paid when due (whether at ii) upon notice given by the stated maturity, by acceleration Administrative Agent or otherwise), such overdue amount (the Required Lenders to the extent legally permitted) Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section section 2.7(a), plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if per annum. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable on thereon or (iii) any Loan or Reimbursement Obligation or any commitment fee Commitment Fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this section 2.7 (a) plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, per annum from the date of such nonpayment non-payment until such amount is paid in full (after before as well as before after judgment). (dc) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to the second sentence of -------- paragraph (cb) of this Section section 2.7 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Excelsior Tax Exempt Funds Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or and (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (K&f Industries Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the then rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the then rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Senior Secured Credit Agreement (Day International Group Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar EurodollarSOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate Eurocurrency RateAdjusted Term SOFR determined for such day Interest Period plus the Applicable Margin in effect for such day. (b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin. (ic) If all or a portion of the principal amount of any Each Multicurrency Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to the Eurocurrency Rate plus the Applicable Margin in effect on the day such Multicurrency Loan is made. (xd) in the case of the Loans, Each CAF Advance shall bear interest at the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or determined in accordance with subsection 2.9. (ye) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if If all or a portion of (i) any principal of any Loan, (ii) any interest payable on thereon, (iii) any Loan or Reimbursement Obligation or any commitment facility fee or (iv) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal of the Loans and/or any such overdue interest, facility fee or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this subsection plus 2% or (or, y) in the case of any such overdue interest, facility fee or other amounts that do not relate to a particular Facilityamount, the rate then applicable to Base Rate Loans under the Revolving Credit Facility described in paragraph (b) of this subsection plus 2%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such overdue principal, interest, facility fee or other amount is paid in full (after as well after as before judgment). (df) Interest pursuant to this subsection shall be payable in arrears on each Interest Payment Date or CAF Advance Interest Payment Date, as the case may be, provided that interest accruing pursuant to paragraph (ce) of this Section subsection shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Boston Scientific Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.

Appears in 1 contract

Sources: Credit Agreement

Interest Rates and Payment Dates. (a) The Loans comprising each Eurodollar Borrowing shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (i) in the case of each Eurodollar Revolving Credit Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin and (ii) in the case of each Eurodollar Competitive Bid Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Margin offered by the Bank making such Loan and accepted by the Company pursuant to subsection 2.3. (b) Each Eurodollar Base Rate Loan shall bear interest for each day during which such Base Rate Loan is outstanding at a rate per annum equal to the Base Rate. (c) Each Fixed Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for fixed rate of interest offered by the Bank making such day plus Loan and accepted by the Applicable Margin in effect for such dayCompany pursuant to subsection 2.3. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (id) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityii) any interest payable thereon, by acceleration any fee or otherwise), such overdue any other amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto payable pursuant to the foregoing provisions terms of this Section plus 2% or Agreement (yother than attorneys' fees incurred in connection with the enforcement of the terms hereof) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this subsection plus 2% or (or, y) in the case of any such overdue interest, fee or other amounts that do not relate to a particular Facilityamount, the rate then applicable to Base Rate Loans under the Revolving Credit Facility described in paragraph (b) of this subsection plus 2%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (de) Interest on each Loan shall be payable in arrears on each Interest Payment DateDate applicable to such Loan, provided the Maturity Date and upon any prepayment of such Loan, PROVIDED that interest accruing pursuant to paragraph (cd) of this Section subsection shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: 364 Day Credit Agreement (Cit Group Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Revolving Credit Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Alternate Base Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the (i) any principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%Loan, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or thereon, (iii) any commitment fee or (iv) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal of the Revolving Credit Loans and any such overdue interest, commitment fee or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this Section plus 2.50% per annum or (or, y) in the case of any such overdue interest, commitment fee or other amounts that do not relate to a particular Facilityamount, the rate then applicable to Base Rate Loans under the Revolving Credit Facility described in paragraph (a) of this Section plus 2%).50% per annum, in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such overdue principal, interest, commitment fee or other amount is paid in full (after as well after as before judgment). (dc) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cb) of this Section shall be payable from time to time on demand demand. (id) If on any five Business Days (whether or not consecutive) occurring in any calendar month the same amount of Revolving Credit Loans outstanding on each such Business Day if demand is made exceeds the lesser of the Borrowing Base and the Revolving Credit Commitments as in effect for each such Business Day, then the average daily balance of all Revolver Advances outstanding on each day during such month shall bear interest at the rate determined pursuant to clause (a) of this Section 4.1 plus a per annum rate of 0.50%. The foregoing will apply whether the excess results from the permission granted by the Administrative Agent on pursuant to Section 4.5(d) or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timefor any other reason.

Appears in 1 contract

Sources: Credit Agreement (Dominion Bridge Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall -------------------------------- bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined Adjusted LIBOR for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount (other than principal) payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from and including the date of such nonpayment until amount became due to but excluding the date such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section -------- shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (CSG Systems International Inc)

Interest Rates and Payment Dates. (a) (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.

Appears in 1 contract

Sources: Credit Agreement (National CineMedia, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar LIBO Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (i) If At any time an Event of Default has occurred and is continuing, all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due outstanding Loans (whether at the stated maturity, by acceleration or otherwise), such overdue amount not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%per annum, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount Obligation payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate the Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%)per annum, in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (db) Interest shall be payable in arrears on each Interest Payment Date, ; provided that (i) interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on during the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m.applicability of Section 2.8(b), New York City time and (ii) in the event of any repayment or prepayment of any Loan, accrued interest on the next principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment. The Administrative Agent shall use commercially reasonable efforts to deliver an invoice 5 Business Day if demand is made by Days prior to each Interest Payment Date; provided that, the Administrative Agent after 11:00 a.m.Agent’s failure to deliver an invoice pursuant to this Section 2.8(b) shall not relieve, New York City timeexcuse or waive any of the Borrowers’ payment or other obligation under the Loan Documents.

Appears in 1 contract

Sources: Loan and Security Agreement (Benefit Street Partners Realty Trust, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin with respect to Eurodollar Loans in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Northwestern Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar The Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal from the date of receipt of funds under this Agreement according to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.following: (i) From the date of receipt of funds under this Agreement until 15th June, 2021, the Borrower shall pay to the Lender for each day a fixed rate interest equal to 0.20 % per annum for the first month, increasing such rate in one (1) basis point each month up to a maximum interest rate equal to 0.25%per annum. Such interest shall be calculated on the outstanding amount of the Loan that has been not repaid and shall be paid on each Interest Payment Date. (ii) From 16th June 2021 until the Loan and any accrued and unpaid interest is repaid in its entirety, the Loan and any accrued and unpaid interest shall bear interest at “Borrower’s Cost of Capital” as defined in this Agreement. Such interest shall be payable monthly on each Interest Payment Date. Borrower may declare and make dividends and make other distribution payments with respect to its equity securities. In the event that during a fiscal year in which all or a portion of the Loan Amount is outstanding, Borrower does not declare and make dividends on its equity securities, then Borrower may elect to suspend the interest payments to Lender provided for in this Section 1.03 and such amounts of accrued and unpaid interest shall not be subject to premium or penalty, including, without limitation, additional penalty set forth below. If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityAmount, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall hereto is not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then that would otherwise be applicable thereto pursuant to Base Rate Loans under the relevant Facility foregoing provisions of this section plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 21%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) Interest full. Any unpaid interest on the due date in accordance with this Agreement shall be payable in arrears on each Interest Payment Date, provided that added to the Loan Amount and be included automatically for the calculation of applicable interest accruing pursuant payments due with respect to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timesubsequent monthly periods.

Appears in 1 contract

Sources: Loan Agreement (Avangrid, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 22.0% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, per annum and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 22.0% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 22.0%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) All Reimbursement Obligations in respect of any payment under a Letter of Credit shall bear interest from and including the date on which such payment is made until such Reimbursement Obligation is paid in full. For the date on which payment is made and the first day following such date such interest will be equal to (i) in the case of Reimbursement Obligations with respect to Revolving Credit Letters of Credit, at the rate then applicable to Base Rate Loans under the Revolving Credit Facility and (ii) in the case of Reimbursement Obligations with respect to Funded Letters of Credit, the rate then applicable to Base Rate Loans under the Term Loan Facility. For the second day following the date on which payment is made and for each day thereafter until such Reimbursement Obligation is paid in full, such interest will be equal to (i) in the case of Reimbursement Obligations with respect to Revolving Credit Letters of Credit, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2.0% per annum or (ii) in the case of Reimbursement Obligations with respect to Funded Letters of Credit, the rate then applicable to Base Rate Loans under the Term Loan Facility plus 2.0% per annum. (e) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) and (d) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Key Energy Services Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar The Loan shall bear interest for each day during each Interest Period with respect thereto at a floating rate per annum equal to the Eurodollar Interest Rate determined for such day plus the Applicable Margin in effect from time to time. The Adjusted LIBO Rate shall be determined by the Administrative Agent, and notice thereof (the “Adjusted LIBO Rate Notice”) shall promptly be given to the Lenders and the Borrower. The Administrative Agent shall provide the Borrower or any Lender such information as it may reasonably request for verification of such dayrate. In the event that the Required Lenders do not concur with such determination by the Administrative Agent, as evidenced by notice to the Administrative Agent by such Lenders within five (5) Business Days after receipt by such Lenders of the applicable Adjusted LIBO Rate Notice, the determination of the Adjusted LIBO Rate shall be made by the Required Lenders in accordance with the provisions of this Loan Agreement and shall be conclusive and binding absent manifest error. Such notice shall include a facsimile transmission of the relevant screen and calculations and such other information as the Administrative Agent may reasonably request for verification. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of of, or accrued Interest on, the Loan, or any Loan or Reimbursement Obligation other amount payable hereunder, shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to shall, and during the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in continuance of an Event of Default, the case unpaid principal balance of the LoansLoan, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall shall, without limiting the rights of the Agents or the Lenders under any Loan Document, bear interest at a the rate per annum equal to (the rate “Overdue Rate”) which is 2.0% above the applicable Interest Rate then applicable to Base Rate Loans in effect under clause (a) of the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%)definition thereof, in each casecase from the date due until payment is made. Such interest shall be payable on demand, with respect provided that this Section 3.3(b) shall not apply to clauses an Event of Default that has been waived by the Lenders pursuant to Section 13.2. (c) Interest on the Loan shall be payable monthly in arrears on the first Business Day of each calendar month (commencing on the first such day to occur after the initial Advance Date), on the Maturity Date and on any other day on which the Loan Balance, or a portion thereof, is to be reduced pursuant to the terms and conditions of this Loan Agreement and the other Loan Documents (each such date being referred to as an ‘“Interest Payment Date”); provided that (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph subsection (cb) of this Section above shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) each prepayment of the Loan shall be accompanied by accrued Interest to the date of such prepayment on the next Business Day amount prepaid, plus any LIBOR Breakage Amount, the applicable Prepayment Premium, if demand is made any, and any fees or other amounts then payable by the Administrative Agent after 11:00 a.m., New York City timeBorrower under the Loan Documents.

Appears in 1 contract

Sources: Ff&e Loan Agreement (Caesars Acquisition Co)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for applicable to such day Eurodollar Loan plus the Applicable Margin with respect to Eurodollar Loans in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day. (c) Each Swing Line Loan which is a Money Market Loan or a Eurodollar Loan shall bear interest for each day on which it is outstanding prior to maturity thereof at a rate per annum equal to the applicable Money Market Rate or the rate then applicable to such Eurodollar Loan (including the Applicable Margin) and thereafter, at a rate per annum equal to the rate then applicable to Base Rate Loans (including the Applicable Margin) pursuant to this Section. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to whether or not overdue)(to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under (including the Revolving Credit Facility Applicable Margin) plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under (including the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility Applicable Margin) plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non‑payment until such amount is paid in full (after as well as before judgment). If one of the events described in Section 8(f) shall have occurred and be continuing with respect to the Borrower, or if, after giving a notice referred to in Section 2.4(b), for any other reason, as determined by the applicable Swing Line Lender in its sole discretion, Revolving Credit Loans may not be made as contemplated by Section 2.4(b), each Swing Line Loan shall bear interest until paid in full at a rate per annum equal to the rate then applicable to Base Rate Loans (including the Applicable Margin) plus 2%. (de) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Northwestern Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin. (c) Each Daily Floating Rate Loan shall bear interest at a rate per annum equal to the Daily Floating Rate plus the Applicable Margin. (d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.14 plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section 2.14 shall be payable from time to time on demand demand. (if) on the same Business Day if demand is made by The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent on have any liability with respect to the administration, submission or prior any other matter related to 11:00 a.m.the rates in the definition of “Eurodollar Base Rate” or “Daily Floating Rate” or with respect to any rate that is an alternative or replacement for or successor to any such rate (including, New York City time and (iiwithout limitation, any LIBOR Successor RateBenchmark Replacement) on or the next Business Day if demand is made by effect of any of the Administrative Agent after 11:00 a.m.foregoing, New York City timeor of any LIBOR Successor RateBenchmark Replacement Conforming Changes.

Appears in 1 contract

Sources: Credit Agreement (SunCoke Energy, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan or portion thereof owed to any Lender other than GFC hereunder shall bear interest be a Base Rate Loan, a Federal Funds Rate Loan or a Quoted Rate Loan, as designated by MBIA pursuant to Section 2.2(a), 2.4(h) or 2.4(i); provided that no more than five (5) Quoted Rate Loans may be outstanding at -------- any one time. Any Term Loan (or portion thereof) shall be a GFC Funding Rate Loan for each day during each Interest Period with respect thereto at a rate per annum equal which such Term Loan (or such portion) is owed to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayGFC. (b) Each MBIA agrees to pay interest in respect of the unpaid principal amount of each Base Rate Loan shall bear interest for each day from and including the day such Base Rate Loan was made to but excluding the day the principal on such Base Rate Loan is due (whether at maturity, by acceleration or otherwise) or, if earlier, the date on which it is outstanding such Loan ceases to be a Base Rate Loan, at a rate per annum equal to the Base Rate in effect for such day Margin plus the Applicable Margin in effect for Base Rate, which interest rate shall change as and when the Base Rat e shall change. Such interest shall be payable on each successive Payment Date commencing with the first such day. (i) If all or a portion date after the making of such Base Rate Loan and when the principal amount of any such Base Rate Loan or Reimbursement Obligation shall not be paid when is due (whether at maturity, by acceleration or otherwise) or such Loan ceases to be a Base Rate Loan. (c) MBIA agrees to pay interest in respect of the stated unpaid principal amount of each Quoted Rate Loan for each day from and including the day such Quoted Rate Loan was made to but excluding the day the principal on such Quoted Rate Loan is due (whether at maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be for each Interest Period applicable thereto pursuant to the foregoing provisions of this Section Quoted Rate Margin plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Quoted Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any for such Interest Period. Such interest shall be payable on any the last day of each Interest Period and when the principal amount of such Quoted Rate Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when is due (whether at the stated maturity, by acceleration or otherwise)) or such Loan ceases to be a Quoted Rate Loan. (d) MBIA agrees to pay interest in respect of the unpaid principal amount of each Federal Funds Rate Loan for each day from and including the day such Federal Funds Rate Loan was made to but excluding the day the principal on such Federal Funds Rate Loan is due (whether at maturity, by acceleration or otherwise) or, if earlier, the date on which such overdue Loan ceases to be a Federal Funds Rate Loan, at a rate PER ANNUM equal to the Federal Funds Margin plus the Federal Funds Rate, which interest rate shall change as and when the Federal Funds Rate s hall change. Such interest shall be payable on each successive Payment Date commencing with the first such date after the making of such Federal Funds Rate Loan and when the principal amount of such Federal Funds Rate Loan is due (whether at maturity, by acceleration or otherwise) or such Loan ceases to be a Federal Funds Rate Loan. (e) MBIA agrees to pay interest in respect of the unpaid principal amount of each GFC Funding Rate Loan for each day from and including the day such GFC Funding Rate Loan was made to but excluding the day the principal on such GFC Funding Rate Loan is due (whether at maturity, by acceleration or otherwise) or, if earlier, the date on which such Loan ceases to be a GFC Funding Rate Loan, AT A RATE PER ANNUM equal to the GFC Funding Rate Margin plus the GFC Funding Rate, which interest rate shall bear change as and when the GFC Funding Rate shall change. Such interest shall be payable on each successive Payment Date commencing with the first such date after the making of such GFC Funding Rate Loan and when the principal amount of such GFC Funding Loan is due (whether at maturity, by acceleration or otherwise) or such Loan ceases to be a GFC Funding Rate Loan. (f) thereof was due to but excluding the date of actual payment, at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, i) in the case of any such other amounts that do not relate to a particular FacilityQuoted Rate Loans, until the end of the then current Interest Period, the sum of 2% plus the interest rate then otherwise applicable to such Loan, (ii) in the case of Federal Funds Rate Loans and GFC Funding Rate Loans, the sum of 2% plus the interest rate otherwise applicable to such Loan and (iii) otherwise, the sum of 2% plus the Base Rate Margin plus the Base Rate from time TO TIME IN EFFECT, WHICH INTEREST RATE SHALL change as and when the Base Rate shall change. (g) The Agent shall DETERMINE EACH INTEREST RATE applicable to the Loans under the Revolving Credit Facility plus 2%)hereunder. The Agent shall give prompt notice to MBIA and each Lender by telex or cable of each rate of interest so determined, in each caseand its determination thereof shall be conclusive, with respect to clauses absent manifest error. (i) and On the date a Term Loan (or portion thereof) ceases to be a GFC Funding Rate Loan, such Term Loan (or such portion) shall automatically convert into a Federal Funds Rate Loan on such date, unless MBIA shall have given the Agent written notice (i) of its election to convert such Loan into a Quoted Rate Loan at least three (3) Business Days' prior to such date or (ii) above, from the date of its election to convert such nonpayment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after Loan into a Base Rate Loan not later than 11:00 a.m., New York City time, on the date on such conversion. Any such notice with respect to a Quoted Rate Loan shall specify the initial Interest Period applicable to such Quoted Rate Loan.

Appears in 1 contract

Sources: Revolving Credit Agreement (Mbia Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest during each Interest Period with respect thereto at a rate per annum equal to LIBOR determined for each day such Interest Period plus the prevailing Applicable Margin. Each ABR Loan shall bear interest during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate ABR determined for such day Interest Period plus the prevailing Applicable Margin in effect for such dayMargin. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan thereon or Reimbursement Obligation or (iii) any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), ) such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% which is (or, x) in the case of any overdue principal, that rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.9 plus three (3%) percent per annum until the end of the Interest Period of such Loan and thereafter, at a rate per annum equal to the sum of three (3%) percent per annum plus the ABR plus the Applicable Margin from time to time in effect, computed on the basis of a 365 or 366 day year, as the case may be, or (y) in the case of overdue interest, commitment fees or other amounts that do not relate to a particular Facilitydue and payable hereunder, the rate then applicable to Base Rate Loans under ABR plus the Revolving Credit Facility Applicable Margin plus 2three (3%), ) percent per annum in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (dc) Interest on each Loan shall be payable in arrears on each Interest Payment Date with respect to such Loan and the Maturity Date, provided that interest accruing pursuant to paragraph (cSection 2.9(b) of this Section shall be payable from time to time on demand demand. (id) Subject to the terms and conditions hereof, the Borrowers may pay interest due and payable on any Interest Payment Date that occurs during the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeCommitment Period in accordance with Section 2.2(b).

Appears in 1 contract

Sources: Credit Agreement (Telscape International Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment)full. (d) Interest shall be payable in arrears on each Interest Payment Date, provided provided, that interest accruing pursuant to paragraph clause (c) of this Section shall be payable from time to time on demand demand. (ie) on Notwithstanding anything to the same Business Day contrary set forth in this Section 2.13, if demand a court of competent jurisdiction determines in a final order that the rate of interest payable hereunder exceeds the highest rate of interest permissible under law (the “Maximum Lawful Rate”), then so long as the Maximum Lawful Rate would be so exceeded, the rate of interest payable hereunder shall be equal to the Maximum Lawful Rate; provided, however, that if at any time thereafter the rate of interest payable hereunder is made less than the Maximum Lawful Rate, the Borrowers shall continue to pay interest hereunder at the Maximum Lawful Rate until such time as the total interest received by the Administrative Agent on or prior Lenders is equal to 11:00 a.m.the total interest which would have been received had the interest rate payable hereunder been (but for the operation of this paragraph) the interest rate payable since the Closing Date as otherwise provided in this Agreement. Thereafter, New York City interest hereunder shall be paid at the rate of interest and in the manner provided in this Section, unless and until the rate of interest again exceeds the Maximum Lawful Rate, and at that time and (ii) on this paragraph shall again apply. In no event shall the next Business Day if demand is made total interest received by the Administrative Agent after 11:00 a.m.Lenders pursuant to the terms hereof exceed the amount which the Lenders could lawfully have received had the interest due hereunder been calculated for the full term hereof at the Maximum Lawful Rate. If, New York City timenotwithstanding the provisions of this Section 2.13(e), a court of competent jurisdiction shall finally determine that the Lenders have received interest hereunder in excess of the Maximum Lawful Rate, the Lenders shall refund any excess to the Borrowers or as a court of competent jurisdiction may otherwise order.

Appears in 1 contract

Sources: Credit Agreement (MVC Capital, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan Interest for the period commencing on the Closing Date and ending on December 31, 2011, shall bear interest for each day during each Interest Period with respect thereto be payable, at the Borrowers’ option, (i) in cash at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin nine percent (9%) (“Cash Interest”) or (ii) in effect for such day. PIK Interest (bas defined below) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to eleven percent (11%), and, commencing January 1, 2012, shall be payable as Cash Interest. Notwithstanding the Base Rate in effect for foregoing, on any Interest Payment Date, to the extent the Borrowers are prohibited by the Intercreditor Agreement from paying all or any portion of the interest on the Loans as Cash Interest, such day plus interest shall be payable as PIK Interest. The Borrowers’ Agent shall deliver written notice to the Applicable Margin in effect for Administrative Agent at least five (5) Business Days prior to each Interest Payment Date setting forth a calculation of the amount of interest that will be paid as Cash Interest and the amount of interest that will be paid as PIK Interest on such dayInterest Payment Date and shall include a calculation showing what portion of the interest payment is permitted to be made as Cash Interest under the terms of the Intercreditor Agreement. The Administrative Agent shall have the right to review and adjust any such calculations. (ib) Notwithstanding anything in this Section 4.2 to the contrary, on each Interest Payment Date following the fifth anniversary of the Closing Date, there shall be payable as Cash Interest an amount of previously accumulated PIK Interest sufficient to ensure that the Term Loans are not classified as “applicable high yield discount obligations” under Section 163(i) of the Code. (c) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 4.2 plus 2% or 2.00%, and (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise)hereunder, such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility Cash Interest plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 22.00%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date or with respect to interest payable pursuant to Section 4.2(c), on demand. On any Interest Payment Date on which the Borrowers have elected or are required to pay PIK Interest, interest on that portion of the Loans that is not being paid as Cash Interest will be paid by adding an amount equal to such unpaid interest to the principal amount of the Term Loans (interest so paid, “PIK Interest”). All PIK Interest shall be deemed added to the outstanding principal amount of the Term Loans as of the applicable Interest Payment Date, provided and the Term Loans shall bear interest on such increased principal amount from and after such Interest Payment Date. Unless the context otherwise requires, the principal amount of the Loans at any time will include all interest that interest accruing pursuant has heretofore been added to paragraph the principal thereon. (ce) Notwithstanding the foregoing, if any provision of this Section Agreement or any agreement related hereto could obligate any Loan Party to make any payment of interest or other amount payable to any Lender in an amount or calculated at a rate which could be prohibited by Law or could result in a receipt by such Lender of interest at a criminal rate (as such terms are construed under the Criminal Code (Canada)) then, notwithstanding such provisions, such amount or rate shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as could not be so prohibited by Law or so result in a receipt by such Lender of interest at a criminal rate, such adjustment to be effected, to the extent necessary, as follows: (1) firstly, by reducing the amount or rate of interest required to be paid to such Lender, and (2) thereafter, by reducing any fees, commissions, premiums and other amounts required to be paid to such Lender which could constitute “interest” for purposes of Section 347 of the Criminal Code (Canada). Notwithstanding the foregoing, and after giving effect to all adjustments contemplated thereby, if a Lender shall have received an amount in excess of the maximum permitted by that section of the Criminal Code (Canada), the Loan Party shall be entitled, by notice in writing to such Lender, to obtain reimbursement from such Lender in an amount equal to such excess and, pending such reimbursement, such amount shall be deemed to be an amount payable from time by such Lender to time on demand (ithe Loan Party. Any amount or rate of interest referred to in this Section 4.2(e) shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that the applicable Loan or other Obligation remains outstanding on the same Business Day assumption that any charges, fees or expenses that fall within the meaning of “interest” (as defined in the Criminal Code (Canada)) shall, if demand is made they relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the date such interest first began to accrue and ending on the Maturity Date and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent shall be conclusive for the purposes of such determination. If any court of competent jurisdiction determines that adjustments contemplated by this Section are required to comply with the Criminal Code (Canada), the Lender has the option of requiring the Loan Party to prepay the Loans on such dates as such Lender may require or prior to 11:00 a.m.extend the Termination Date and revise the repayment amounts so that repayment of the Loans, New York City together with interest, takes place over a longer period of time and in compliance with the Criminal Code (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeCanada).

Appears in 1 contract

Sources: Term Loan Credit Agreement (SemGroup Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin. (c) Each Daily Floating Rate Loan shall bear interest at a rate per annum equal to the Daily Floating Rate plus the Applicable Margin. (d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.14 plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section 2.14 shall be payable from time to time on demand demand. (if) on the same Business Day if demand is made by The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent on have any liability with respect to the administration, submission or prior any other matter related to 11:00 a.m.the rates in the definition of “Eurodollar Base Rate” or “Daily Floating Rate” or with respect to any rate that is an alternative or replacement for or successor to any such rate (including, New York City time and (iiwithout limitation, any LIBOR Successor Rate) on or the next Business Day if demand is made by effect of any of the Administrative Agent after 11:00 a.m.foregoing, New York City timeor of any LIBOR Successor Rate Conforming Changes.

Appears in 1 contract

Sources: Credit Agreement (SunCoke Energy, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan -------------------------------- shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% ---- or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a ---- portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall (to the extent permitted by applicable law) bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not ---- relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to ---- clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section -------- shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Alliance Laundry Holdings LLC)

Interest Rates and Payment Dates. (a) Each Eurodollar SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate Adjusted Term SOFR determined for such day plus the Applicable Margin in effect for such daytherefor. (b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding from the Closing Date or applicable Conversion Date, as the case may be, at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such daytherefor. (ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on thereon or (iii) any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall shall, to the extent permitted by applicable law, bear interest at a rate per annum which is equal to the rate then otherwise applicable to Base Rate Loans under the relevant Facility thereto plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until non-payment to (but excluding) the date on which such amount is paid in full (after as well as before judgment) (or, in the event there is no applicable rate, 2.0% per annum in excess of the rate otherwise applicable to ABR Loans from time to time). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) and on the same Business Day if demand is made by Maturity Date. (e) In connection with the use or administration of Term SOFR, the Administrative Agent on will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or prior in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the this Agreement or any other Loan Document. The Administrative Agent after 11:00 a.m., New York City timewill promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.

Appears in 1 contract

Sources: Term Loan Credit Agreement (SOUTHERN CALIFORNIA EDISON Co)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus PLUS 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus PLUS 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the then rate then applicable to Base Rate Loans under the relevant Facility plus PLUS 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.a

Appears in 1 contract

Sources: Senior Secured Credit Agreement (Day International Group Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Term SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate Term SOFR determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin. (c) Each Daily Floating Rate Loan shall bear interest at a rate per annum equal to the Daily Floating Rate plus the Applicable Margin. (d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.14 plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section 2.14 shall be payable from time to time on demand demand. (if) on the same Business Day if demand is made by The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent on have any liability with respect to the administration, submission or prior any other matter related to 11:00 a.m.any reference rate referred to herein or with respect to any rate (including, New York City time for the avoidance of doubt, the selection of such rate and any related spread or other adjustment) that is an alternative or replacement for or successor to any such rate (iiincluding, without limitation, any Successor Rate) on (or any component of any of the next Business Day if demand is made by foregoing) or the effect of any of the foregoing, or of any Conforming Changes. The Administrative Agent after 11:00 a.m.and its affiliates or other related entities may engage in transactions or other activities that affect any reference rate referred to herein, New York City timeor any alternative, successor or replacement rate (including, without limitation, any Successor Rate) (or any component of any of the foregoing) or any related spread or other adjustments thereto, in each case, in a manner adverse to the Borrowers. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain any reference rate referred to herein or any alternative, successor or replacement rate (including, without limitation, any Successor Rate) (or any component of any of the foregoing), in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrowers, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or other action or omission related to or affecting the selection, determination, or calculation of any rate (or component thereof) provided by any such information source or service.

Appears in 1 contract

Sources: Second Amended and Restated Credit Agreement (SunCoke Energy, Inc.)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for applicable to such day Eurodollar Loan plus the Applicable Margin with respect to Eurodollar Loans in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day. (c) Each Daily Floating Eurodollar Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Daily Floating Eurodollar Rate in effect for such day plus the Applicable Margin with respect to Daily Floating Eurodollar Rate Loans in effect for such day. (d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to whether or not overdue)(to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under (including the Revolving Credit Facility Applicable Margin) plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under (including the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility Applicable Margin) plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non payment until such amount is paid in full (after as well as before judgment). (de) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Northwestern Corp)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan Loans shall bear interest for each day during each Interest Period with respect thereto applicable thereto, commencing on (and including) the first day of such Interest Period to, but excluding, the last day of such Interest Period, on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin. (b) Each Alternate Base Rate Loan Loans shall bear interest for each day the period from and including the date such Loans are made to, but excluding, the maturity date thereof, or to, but excluding, the conversion date if such Loans are earlier converted into Eurodollar Loans on which it is outstanding the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (ic) If all or a portion of (i) the principal amount of any Loan of the Loans or Reimbursement Obligation (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) such Loan, if a Eurodollar Loan, shall be converted into an Alternate Base Rate Loan at the end of the then-current Interest Period for such Eurodollar Loan (which conversion shall occur automatically and without need for compliance with the conditions for conversion set forth in subsection 4.2), and any such overdue amount (to shall, without limiting the extent legally permitted) shall rights of the Lenders under Section 9, bear interest (which shall be payable on demand) at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in plus the case of Reimbursement Obligations, the rate applicable to Alternate Base Rate Loans under plus the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% Applicable Margin (or, in the case of any such other amounts that do not relate to a particular FacilityEurodollar Loan, the rate then applicable to Base Eurodollar Rate Loans under for the Revolving Credit Facility Interest Period plus the Applicable Margin plus 2%), in each case, with respect to clauses (iif higher) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest Except as otherwise expressly provided for in this subsection 4.5, interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.

Appears in 1 contract

Sources: Credit Agreement (Jostens Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise)) or an Event of Default has otherwise occurred and is continuing, such overdue amount all outstanding Loans (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 22.0% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder (in accordance with Section 2.4 or otherwise) shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the highest interest rate then applicable to Base Rate any Loans under the relevant Facility then outstanding plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 22.0%), in each case, with respect to clauses subsections (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment)) or so long as such Event of Default is continuing. (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cb) of this Section shall be payable from time to time on demand demand. Interest shall be paid on each Interest Payment Date from the portion of the Loan proceeds on deposit in the Interest Reserve Account in accordance with Section 2.18 or in such other manner as the Borrower may elect (i) on provided that if Borrower elects to pay in a manner other than by disbursement of funds from the same Business Day if demand Interest Reserve Account pursuant to Section 2.18 and such interest payment is made not timely received by the Administrative Agent on or prior to 11:00 a.m.Agent, New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeshall be entitled to withdraw amounts from the Interest Reserve Account to pay the interest due hereunder as provided in Section 2.18).

Appears in 1 contract

Sources: Credit Agreement (Wynn Resorts LTD)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Hanger Orthopedic Group Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Adjusted LIBOR Rate plus the PIK Interest Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Adjusted Base Rate in effect for such day plus the Applicable Margin in effect PIK Interest Rate determined for such day. (c) Notwithstanding the foregoing, (i) If if all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate Adjusted Base Rate or Adjusted LIBOR Rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% 2.12 or (y) in the provisions of Section 3.5, as the case of Reimbursement Obligationsmay be, the rate applicable to Base Rate Loans under the Revolving Credit Facility in each case plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Adjusted Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment). (d) Interest shall be payable in arrears on On each Interest Payment Date, provided Borrower shall pay interest that accrued (i) on each LIBOR Loan at the Adjusted LIBOR Rate and (ii) on each Base Rate Loan at the Adjusted Base Rate. On the Revolving Credit Termination Date, Borrower shall pay the Aggregate PIK Interest except to the extent forgiven pursuant to Section 2.13. Notwithstanding the foregoing, interest accruing pursuant to paragraph (c) of this Section 2.12 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (Ifco Systems Nv)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan (including any Swingline Loan) shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the overdue principal amount of such overdue amount Loans and Reimbursement Obligations (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% Default Rate or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section (including interest on past due interest) shall be payable from time to time on demand (i) demand. For greater certainty, interest payable on any Interest Payment Date shall include interest accruing from and including the immediately prior Interest Payment Date but shall exclude any interest accruing on such Interest Payment Date, provided that interest payable on the same Business Day if demand is made by the Administrative Agent maturity date of any Loan shall include all accrued and unpaid interest as of such maturity date, including any interest accruing on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timesuch date.

Appears in 1 contract

Sources: Credit Agreement (Mylan Laboratories Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate Adjusted LIBOR determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount (other than principal) payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Revolving Credit Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular the Revolving Credit Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from and including the date of such nonpayment until amount became due to but excluding the date such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (CSG Systems International Inc)

Interest Rates and Payment Dates. (a) Each Eurodollar Loan (other than Competitive Bid Loans) shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (c) Each Competitive Bid Loan shall bear interest for each Interest Period (if an Eurodollar Loan) or day (if an Absolute Rate Loan) with respect thereto at a rate per annum equal to the Competitive Bid Rate for such Competitive Bid Loan. (d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee Facility Fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). (de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.

Appears in 1 contract

Sources: Credit Agreement (General Growth Properties Inc)