Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Dutch Revolver Loan, at LIBOR, plus the Applicable Margin; provided that if LIBOR is unavailable for any reason, Dutch Revolver Loans shall bear interest at the Foreign Base Rate, plus 1.50%; (ii) if a U.S. Revolver Loan, at LIBOR, plus the Applicable Margin; provided that if LIBOR is unavailable for any reason, U.S. Revolver Loans shall bear interest at the U.S. Base Rate, plus 0.50%, (iii) if any other Dutch Obligation (including, to the extent permitted by law, interest not paid when due), at LIBOR in effect from time to time, plus the Applicable Margin for Dutch Revolver Loans; provided that if LIBOR is unavailable for any reason, such Dutch Obligations shall bear interest at the Foreign Base Rate, plus 1.50%, and (vi) if any other U.S. Obligation (including, to the extent permitted by law, interest not paid when due), at LIBOR in effect from time to time, plus the Applicable Margin for U.S. Revolver Loans; provided that if LIBOR is unavailable for any reason, such U.S. Obligations shall bear interest at the U.S. Base Rate, plus 0.50%. (b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of Default if Agent or Required Lenders in their discretion so elect and notify the Borrower Agent in writing, Obligations shall bear interest at the Default Rate (whether before or after any judgment), payable on demand. (c) Interest shall accrue from the date a Revolver Loan is advanced or Obligation is incurred or payable, until paid in full by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Revolver Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the applicable agreements or, if no payment date is specified, on demand.
Appears in 2 contracts
Sources: Loan and Security Agreement (Super Micro Computer, Inc.), Loan and Security Agreement (Super Micro Computer, Inc.)
Rates and Payment of Interest. (a) The Obligations Except as otherwise set forth herein, (i) each Eurodollar Rate Loan shall bear interest on the unpaid principal amount thereof from the date made through repayment (iwhether by acceleration or otherwise) if thereof payable in arrears on each Payment Date at a Dutch Revolver Loan, at LIBOR, rate of interest equal to the Eurodollar Rate for the applicable Interest Period plus the Applicable applicable Margin; provided that if LIBOR is unavailable for any reason, Dutch Revolver Loans and (ii) each Base Rate Loan made pursuant to Sections 3.5 or 3.6 shall bear interest on the unpaid principal amount thereof from the date made through repayment (whether by acceleration or otherwise) thereof payable in arrears on each Payment Date at the Foreign Base Rate, plus 1.50%; (ii) if a U.S. Revolver Loan, at LIBOR, plus the Applicable Margin; provided that if LIBOR is unavailable for any reason, U.S. Revolver Loans shall bear rate of interest at the U.S. Base Rate, plus 0.50%, (iii) if any other Dutch Obligation (including, equal to the extent permitted by law, interest not paid when due), at LIBOR Base Rate in effect from time to time, time plus the applicable Margin (in each case, the “Applicable Margin for Dutch Revolver Loans; provided that if LIBOR is unavailable for Interest Rate”). All computations of interest on any reason, such Dutch Obligations Loan hereunder shall bear interest at include the Foreign Base Rate, plus 1.50%, first day and (vi) if any other U.S. Obligation (including, to the extent permitted by law, interest not paid when due), at LIBOR last day of the Interest Period in effect from time to time, plus the Applicable Margin for U.S. Revolver Loans; provided that if LIBOR is unavailable for any reason, such U.S. Obligations shall bear interest at the U.S. Base Rate, plus 0.50%Loan.
(b) During the existence of an Insolvency Proceeding with respect to any BorrowerEvent of Default under Section 11.1.7 or 11.1.8, or during any other Event of Default if Administrative Agent or Required Lenders in their discretion so elect elect, (i) Obligations, including any interest payments on the Loans and notify any fees or other amounts outstanding hereunder other than Letter of Credit Fees, shall thereafter bear interest (including post-petition interest in any proceeding under the Borrower Agent Bankruptcy Code or other applicable bankruptcy laws) at a rate in writinglieu of the interest rate otherwise payable hereunder with respect to the applicable Loans, Obligations equal to the Applicable Interest Rate plus a margin of 2% per annum and (ii) Letter of Credit Fees shall bear interest at a rate equal to the Applicable L/C Rate plus a margin of 2% per annum (the rate under clause (i) and (ii), as applicable, the “Default Rate (whether before or after any judgmentRate”), payable on demanddemand to Administrative Agent on behalf of Lender. Each Borrower acknowledges that the cost and expense to Administrative Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this.
(c) Interest shall accrue from the date a Revolver Loan an Advance is advanced made or Obligation is incurred or payable, until paid in full by Borrowers. If a Loan is repaid on the same day made, and one day’s interest shall in no event be less than zero at any timeaccrue. Interest accrued on the Revolver Loans shall be due and payable by Borrowers in arrears, (i) on the first tenth day of each monthcalendar month during the term hereof (each a “Payment Date”); (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Maturity Date. Interest Unless otherwise specified, all computations of interest for Base Rate Loans, shall be made on 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 (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year), unless otherwise specified. Notwithstanding the foregoing, interest accrued on any other Obligations at the Default Rate shall be due and payable as provided in the applicable agreements or, if no payment date is specified, on demand.
Appears in 2 contracts
Sources: Loan Agreement (Hannon Armstrong Sustainable Infrastructure Capital, Inc.), Loan Agreement (Hannon Armstrong Sustainable Infrastructure Capital, Inc.)
Rates and Payment of Interest. (a) The Obligations shall bear interest as follows:
(i) if in the case of a Dutch Revolver Base Rate Loan, at LIBORthe Base Rate in effect from time to time, plus the Applicable Margin; provided that if LIBOR is unavailable Margin for any reason, Dutch Revolver Loans shall bear interest at the Foreign such Base Rate, plus 1.50%; Rate Loan;
(ii) if in the case of a U.S. Revolver Term SOFR Loan, at LIBORa rate equal to Term SOFR for the applicable Interest Period, plus the Applicable MarginMargin for such Term SOFR Loans; provided that if LIBOR is unavailable for any reason, U.S. Revolver Loans shall bear interest at the U.S. Base Rate, plus 0.50%, and
(iii) if in the case of any other Dutch Obligation that is then due and payable (including, to the extent permitted by law, interest not paid when due), at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin for Dutch Revolver Base Rate Loans; provided that if LIBOR is unavailable for any reason, such Dutch Obligations shall bear interest at the Foreign Base Rate, plus 1.50%, and (vi) if any other U.S. Obligation (including, to the extent permitted by law, interest not paid when due), at LIBOR in effect from time to time, plus the Applicable Margin for U.S. Revolver Loans; provided that if LIBOR is unavailable for any reason, such U.S. Obligations shall bear interest at the U.S. Base Rate, plus 0.50%.
(b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of Default if Agent or Required Lenders in their discretion so elect and notify the Borrower Agent in writing, Obligations shall bear interest at the Default Rate (whether before or after any judgment), payable on demand.
(c) . Interest shall accrue from the date a Revolver the Loan is advanced or the Obligation is incurred or becomes payable, until paid in full by Borrowersthe applicable Borrower(s), and shall in no event be less than zero at any time. If a Loan is repaid on the same day made, one day’s interest shall accrue.
(b) Interest on the Revolver Loans shall be payable in Dollars.
(c) If all or a portion of (i) the principal amount of any Loan or (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest (including post-petition interest during the pendency of any Insolvency Proceeding) at a rate per annum that is (x) in the case of overdue principal, the Default Rate or (y) in the case of any overdue interest or other amounts not paid when due hereunder, to the extent permitted by Applicable Law, the Default Rate from and including the date of such non-payment to but excluding the date on which such amount is paid in full (after as well as before judgment). Payment or acceptance of the increased rates of interest provided for in this Section 3.1.1 is not a permitted alternative to timely payment of amounts due hereunder and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of the Agent or any Lender.
(d) Interest accrued on the Revolver Loans shall be due and payable in arrears, (i) for any Base Rate Loan, quarterly on the first day of each monthJanuary, April, July and October for the preceding quarter; (ii) for any Term SOFR Loan, on the last day of its Interest Period (and, if its Interest Period exceeds three months, at the end of each period of three months) and (iii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) . In addition, interest accrued on the Revolver Loans shall be due and payable in arrears on the Revolver Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the applicable agreements orLoan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.
Appears in 2 contracts
Sources: Abl Credit Agreement (Target Hospitality Corp.), Abl Credit Agreement (Target Hospitality Corp.)
Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Dutch Revolver U.S. Base Rate Loan, at LIBORthe U.S. Base Rate in effect from time to time, plus the Applicable Margin; provided that if LIBOR is unavailable for any reason, Dutch Revolver Loans shall bear interest at the Foreign Base Rate, plus 1.50%; (ii) if a U.S. Revolver LIBOR Loan, at LIBORLIBOR for the applicable Interest Period, plus the Applicable Margin; provided that if LIBOR is unavailable for any reason, U.S. Revolver Loans shall bear interest at the U.S. Base Rate, plus 0.50%, (iii) if a Foreign Base Rate Loan, at the Foreign Base Rate in effect from time to time, plus the Applicable Margin; (iv) if an Australian Bank ▇▇▇▇ Rate Loan, at the Australian Bank ▇▇▇▇ Rate in effect from time to time, plus the Applicable Margin; (v) if any other Dutch U.S. Facility Obligation (except as provided in Section 3.2.2(a) but including, to the extent permitted by law, interest not paid when due), at LIBOR the U.S. Base Rate in effect from time to time, plus the Applicable Margin for Dutch Revolver U.S. Base Rate Loans; provided that if LIBOR is unavailable for any reason, such Dutch Obligations shall bear interest at the Foreign Base Rate, plus 1.50%, and (vi) if any other U.S. Foreign Facility Obligation (except as provided in Section 3.2.2(b) but including, to the extent permitted by law, interest not paid when due), at LIBOR the Foreign Base Rate in effect from time to time, plus the Applicable Margin for U.S. Revolver Foreign Base Rate Loans; provided that if LIBOR is unavailable for any reason. Interest on the Loans shall be payable in the currency (i.e., such U.S. Obligations shall bear interest at Dollars, Euros, Australian Dollars or Sterling, as the U.S. Base Rate, plus 0.50%case may be) of the underlying Loan.
(b) During an Insolvency Proceeding with respect to any BorrowerEvent of Default under Section 11.1(a) or 11.1(h), or during any other Event of Default if Agent or Required Lenders in their discretion so elect and notify after written notice to Borrowers Agents, the Borrower Agent in writing, Obligations shall bear interest at the Default Rate (whether before or after any judgment), payable on demand. Each Borrower acknowledges that the cost and expense to Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this.
(c) Interest shall accrue from the date a Revolver Loan is advanced or Obligation is incurred or payable, until paid in full by the applicable Borrowers. If a Loan is repaid on the same day made, and one day’s interest shall in no event be less than zero at any timeaccrue. Interest accrued on the Revolver Loans shall be due and payable in arrears, (i) for any Base Rate Loan, on the first day of each month; (ii) for any Australian Bank ▇▇▇▇ Rate Loan or LIBOR Loan, on the last day of its Interest Period; and (iii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) . In addition, interest accrued on the Foreign Loans shall be due and payable on the Foreign Revolver Commitment Termination Date, and interest accrued on the U.S. Loans shall be due and payable on the U.S. Revolver Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the applicable agreements orLoan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.
Appears in 2 contracts
Sources: Loan Agreement (Hyster-Yale Materials Handling, Inc.), Loan, Security and Guaranty Agreement (Hyster-Yale Materials Handling, Inc.)
Rates and Payment of Interest. (a) The Obligations Except as otherwise set forth herein, (i) each Eurodollar Rate Loan shall bear interest on the unpaid principal amount thereof from the date made through repayment (iwhether by acceleration or otherwise) if thereof payable in arrears on each Payment Date at a Dutch Revolver Loan, at LIBOR, rate of interest equal to the Eurodollar Rate for the applicable Interest Period plus the Applicable Margin; provided that if LIBOR is unavailable for any reason, Dutch Revolver Loans Margin and (ii) each Base Rate Loan made pursuant to Sections 3.5 or 3.6 shall bear interest on the unpaid principal amount thereof from the date made through repayment (whether by acceleration or otherwise) thereof at the Foreign Base Rate, plus 1.50%; (ii) if a U.S. Revolver Loan, at LIBOR, plus the Applicable Margin; provided that if LIBOR is unavailable for any reason, U.S. Revolver Loans shall bear rate of interest at the U.S. Base Rate, plus 0.50%, (iii) if any other Dutch Obligation (including, equal to the extent permitted by law, interest not paid when due), at LIBOR Base Rate in effect from time to time, time plus the Margin (in each case, the “Applicable Margin for Dutch Revolver Loans; provided that if LIBOR is unavailable for Interest Rate”). In computing interest on any reasonLoan, the date of the making of such Dutch Obligations Loan and the last Payment Date with respect to such Loan shall bear interest at the Foreign Base Rate, plus 1.50%be included, and (vi) if any other U.S. Obligation (including, to the extent permitted by law, interest not paid when due), at LIBOR in effect from time to time, plus the Applicable Margin for U.S. Revolver Loans; provided that if LIBOR is unavailable for any reason, date of payment of such U.S. Obligations Loan shall bear interest at the U.S. Base Rate, plus 0.50%be excluded.
(b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of Default if Administrative Agent or Required Lenders in their discretion so elect elect, Obligations, including any interest payments on the Loans and notify the Borrower Agent in writingany fees or other amounts outstanding hereunder, Obligations shall thereafter bear interest (including post-petition interest in any proceeding under the Bankruptcy Code or other applicable bankruptcy laws) at a rate in lieu of the interest rate otherwise payable hereunder with respect to the applicable Loans, equal to the Eurodollar Rate for the applicable Interest Period plus a margin of 2.50% per annum (the “Default Rate (whether before or after any judgmentRate”), payable on demanddemand to Administrative Agent on behalf of Lender. Each Borrower acknowledges that the cost and expense to Administrative Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this. For the avoidance of doubt, during the continuance of both an Insolvency Proceeding and an Event of Default referred to in the preceding sentence, the maximum additional interest under this clause (b) shall be limited to 2.50% per annum in excess of the Applicable Interest Rate (without giving effect to the “Margin” portion of such definition and calculation) otherwise payable hereunder with respect to the applicable Loans.
(c) Interest shall accrue from the date a Revolver Loan an Advance is advanced made or Obligation is incurred or payable, until paid in full by Borrowers. If a Loan is repaid on the same day made, and one day’s interest shall in no event be less than zero at any timeaccrue. Interest accrued on the Revolver Loans shall be due and payable by Borrowers in arrears, (i) on the first tenth day of each monthcalendar month during the term hereof (each a “Payment Date”); (ii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Revolver Termination Date. Interest All computations of interest for Base Rate Loans, shall be made on 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 (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Notwithstanding the foregoing, interest accrued on any other Obligations at the Default Rate shall be due and payable as provided in the applicable agreements or, if no payment date is specified, on demand.
Appears in 2 contracts
Sources: Loan Agreement (Hannon Armstrong Sustainable Infrastructure Capital, Inc.), Loan Agreement (Hannon Armstrong Sustainable Infrastructure Capital, Inc.)
Rates and Payment of Interest. (a) The Obligations shall bear interest as follows:
(i) if in the case of a Dutch Revolver U.S. Base Rate Loan, at LIBORthe U.S. Base Rate in effect from time to time, plus the Applicable Margin; provided that if LIBOR is unavailable Margin for any reason, Dutch Revolver Loans shall bear interest at the Foreign such U.S. Base Rate, plus 1.50%; Rate Loan;
(ii) if in the case of a U.S. Revolver European Base Rate Loan, at LIBORthe European Base Rate in effect from time to time, plus the Applicable Margin; provided that if LIBOR is unavailable Margin for any reason, U.S. Revolver Loans shall bear interest at the U.S. European Base Rate, plus 0.50%, Rate Loans;
(iii) if in the case of a LIBOR Base Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin for LIBOR Loans;
(iv) in the case of any other Dutch Facility Obligation (other than Secured Bank Product Obligations) that is then due and payable (including, to the extent permitted by law, interest not paid when due), at LIBOR the European Base Rate in effect from time to time, plus the Applicable Margin for Dutch Revolver European Rate Loans; provided that if LIBOR is unavailable for any reason, such Dutch Obligations shall bear interest at and
(v) in the Foreign Base Rate, plus 1.50%, and (vi) if case of any other U.S. Facility Obligation (other than Secured Bank Product Obligations) that is then due and payable (including, to the extent permitted by law, interest not paid when due), at LIBOR the U.S. Base Rate in effect from time to time, plus the Applicable Margin for U.S. Revolver Loans; provided that if LIBOR is unavailable for any reason, such U.S. Obligations shall bear interest at the related U.S. Base Rate, plus 0.50%.
(b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of Default if Agent or Required Lenders in their discretion so elect and notify the Borrower Agent in writing, Obligations shall bear interest at the Default Rate (whether before or after any judgment), payable on demand.
(c) Loans. Interest shall accrue from the date a Revolver the Loan is advanced or the Obligation is incurred or becomes payable, until paid in full by Borrowersthe Applicable Borrower(s). If a Loan is repaid on the same day made, and one Business Day’s interest shall in no event be less than zero at any time. accrue.
(b) Interest accrued on the Revolver Loans shall be due and payable in arrears, the currency of the underlying Revolver Loan.
(c) If all or a portion of (i) on the first day principal amount of each month; any Loan, (ii) on any date of prepayment, with respect to the principal amount being prepaid; and interest payable thereon or (iii) on following notice from the Commitment Termination Date. Interest accrued on Agent, any other Obligations amounts payable hereunder, in each case, shall not be paid when due and payable as provided (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest (including post-petition interest during the pendency of any Insolvency Proceeding) at a rate per annum that is (x) in the applicable agreements orcase of overdue principal, if no the Default Rate or (y) in the case of any overdue interest, to the extent permitted by Applicable Law, the Default Rate, from and including the date of such non-payment to but excluding the date on which such amount is specified, on demand.paid in full (after as well as before judgment). Payment or acceptance of the increased rates of interest provided for in this Section 3.1.1
Appears in 2 contracts
Sources: Loan, Security and Guarantee Agreement (Kraton Performance Polymers, Inc.), Loan, Security and Guarantee Agreement (Kraton Performance Polymers, Inc.)
Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Dutch Revolver U.S. Base Rate Loan that is a Non-FILO U.S. Loan, at LIBORthe U.S. Base Rate in effect from time to time, plus the Applicable Margin for Non-FILO U.S. Loans; (ii) if an Interest Perioda Term SOFR Loan that is a Non-FILO U.S. Loan, at the applicable Eurocurrency RateTerm SOFR for the applicable Interest Period, plus the Applicable Margin for Non-FILO U.S. Loans; (iii) if a U.S. Base Rate Loan that is a FILO Loan, at the U.S. Base Rate in effect from time to time, plus the Applicable Margin for FILO Loans; (iv) if a Term SOFR Loan that is a FILO Loan, at Term SOFR for the applicable Interest Period, plus the Applicable Margin for FILO Loans; (v) if a EURIBOR Loan, at EURIBOR for the applicable Interest Period, plus the Applicable Margin; provided that (vi) if LIBOR is unavailable for any reasona Foreign Base Rate Loan, Dutch Revolver Loans shall bear interest at the Foreign Base Rate, plus 1.50%; (ii) if a U.S. Revolver Loan, at LIBORRate in effect from time to time, plus the Applicable Margin; provided that (ivvii) if LIBOR is unavailable for any reasonan Australian Bank Bill Rate Loan, U.S. Revolver Loans shall bear interest at the U.S. Base RateAustralian Bank Bill Rate in effect from time to time, plus 0.50%, the Applicable Margin; (iiivviii) if any other Dutch U.S. Facility Obligation (except as provided in Section 3.2.2(a) but including, to the extent permitted by law, interest not paid when due), at LIBOR the U.S. Base Rate in effect from time to time, plus the Applicable Margin for Dutch Revolver U.S. Base Rate Loans that are Non-FILO U.S. Loans; provided that if LIBOR is unavailable for any reason, such Dutch Obligations shall bear interest at the Foreign Base Rate, plus 1.50%, and (viviix) if any other U.S. Foreign Facility Obligation (except as provided in Section 3.2.2(b) but including, to the extent permitted by law, interest not paid when due), at LIBOR the Foreign Base Rate in effect from time to time, plus the Applicable Margin for U.S. Revolver Foreign Base Rate Loans; provided that if LIBOR is unavailable for any reason. Interest on the Loans shall be payable in the currency (i.e., such U.S. Obligations shall bear interest at Dollars, Euros, Australian Dollars or Sterling, as the U.S. Base Rate, plus 0.50%case may be) of the underlying Loan.
(b) During an Insolvency Proceeding with respect to any BorrowerEvent of Default under Section 11.1(a) or 11.1(h), or during any other Event of Default if Agent or Required Lenders in their discretion so elect and notify after written notice to Borrowers Agents, the Borrower Agent in writing, Obligations shall bear interest at the Default Rate (whether before or after any judgment), payable on demand. Each Borrower acknowledges that the cost and expense to Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this.
(c) Interest shall accrue from the date a Revolver Loan is advanced or Obligation is incurred or payable, until paid in full by the applicable Borrowers. If a Loan is repaid on the same day made, and one day’s interest shall in no event be less than zero at any timeaccrue. Interest accrued on the Revolver Loans shall be due and payable in arrears, (i) for any Base Rate Loan, on the first day of each month; (ii) for any Australian Bank Bill Rate Loan or Interest Period Loan, on the last day of its Interest Period; and (iii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) . In addition, interest accrued on the Foreign Loans shall be due and payable on the Foreign Revolver Commitment Termination Date, and interest accrued on the Non-FILO U.S. Loans shall be due and payable on the U.S. Revolver Commitment Termination Date and interest accrued on the FILO Loans shall be due and payable on the FILO Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the applicable agreements orLoan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.
Appears in 1 contract
Sources: Loan, Security and Guaranty Agreement (Hyster-Yale Materials Handling, Inc.)
Rates and Payment of Interest. (a) The Obligations shall bear interest as follows:
(i) if in the case of a Dutch Revolver US Base Rate Loan, at LIBORthe US Base Rate in effect from time to time, plus the Applicable Margin; provided that if LIBOR is unavailable Margin for any reason, Dutch Revolver Loans shall bear interest at the Foreign such US Base Rate, plus 1.50%; Rate Loan;
(ii) if in the case of a U.S. Revolver European Base Rate Loan, at LIBORthe European Base Rate in effect from time to time, plus the Applicable Margin; provided that if LIBOR is unavailable Margin for any reason, U.S. Revolver Loans shall bear interest at the U.S. European Base Rate, plus 0.50%, Rate Loans;
(iii) if in the case of a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin for LIBOR Loans; and
(iv) in the case of a EURIBOR Loan, at EURIBOR for the applicable Interest Period, plus the Applicable Margin for EURIBOR Loans.
(b) Interest on the Loans shall be payable in the currency of the Loan.
(c) During an Insolvency Proceeding with respect to any Loan Party, or during any other Dutch Obligation Event of Default if Required Lenders so elect, any principal of, or interest (including, to the extent permitted by law, interest not paid when due)) on, at LIBOR in effect from time to time, plus the Applicable Margin for Dutch Revolver Loans; provided that if LIBOR is unavailable for any reason, such Dutch Obligations shall bear interest at the Foreign Base Rate, plus 1.50%, and (vi) if Loan or any fees or other U.S. Obligation (including, to the extent permitted by law, interest amount payable hereunder not paid when due), whether at LIBOR stated maturity, upon acceleration or otherwise, shall, in effect from time each case of the foregoing to timethe extent of the applicable overdue amount, plus the Applicable Margin for U.S. Revolver Loans; provided that if LIBOR is unavailable for any reason, such U.S. Obligations shall bear interest at the U.S. Base Rate, plus 0.50%.
(b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of Default if Agent or Required Lenders in their discretion so elect and notify the Borrower Agent in writing, Obligations shall bear interest at the Default Rate (whether before or after any judgment), and in the case of the fees payable under Section 3.2.2, such fees shall be increased by two percent (2%) per annum, and in each case shall be payable when due hereunder or earlier on written demand. Payment or acceptance of the increased rates of interest provided for in this Section 3.1.1 is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Agent or any Lender.
(cd) Interest shall accrue from the date a Revolver the Loan is advanced or the Obligation is incurred or becomes payable, until paid in full in cash by Borrowersthe applicable Borrower(s). If a Loan is repaid on the same day made, and one (1) Business Day’s interest shall in no event be less than zero at any timeaccrue. Interest accrued on the Revolver Loans shall be is due and payable in arrears, arrears (i) on the first day of each monthInterest Payment Date; (ii) on concurrently with prepayment of any date of prepaymentLIBOR Loan or EURIBOR Loan, with respect to the principal amount being prepaid; and (iii) on the Commitment applicable Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the applicable agreements or, if no payment date is specified, on written demand.
Appears in 1 contract
Sources: Loan and Security Agreement (Computer Task Group Inc)
Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Dutch Revolver Loan, at LIBORLIBORDaily Simple SOFR, plus the Applicable Margin; provided that if LIBOR LIBORDaily Simple SOFR is unavailable for any reason, Dutch Revolver Loans shall bear interest at the Foreign Base Rate, plus 1.50%; (ii) if a U.S. Revolver Loan, at LIBORLIBORDaily Simple SOFR, plus the Applicable Margin; provided that if LIBOR LIBORDaily Simple SOFR is unavailable for any reason, U.S. Revolver Loans shall bear interest at the U.S. Base Rate, plus 0.50%, (iii) if any other Dutch Obligation (including, to the extent permitted by law, interest not paid when due), at LIBOR LIBORDaily Simple SOFR in effect from time to time, plus the Applicable Margin for Dutch Revolver Loans; provided that if LIBOR LIBORDaily Simple SOFR is unavailable for any reason, such Dutch Obligations shall bear interest at the Foreign Base Rate, plus 1.50%, and (vi) if any other U.S. Obligation (including, to the extent permitted by law, interest not paid when due), at LIBOR LIBORDaily Simple SOFR in effect from time to time, plus the Applicable Margin for U.S. Revolver Loans; provided that if LIBOR LIBORDaily Simple SOFR is unavailable for any reason, such U.S. Obligations shall bear interest at the U.S. Base Rate, plus 0.50%.
(b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of Default if Agent or Required Lenders in their discretion so elect and notify the Borrower Agent in writing, Obligations shall bear interest at the Default Rate (whether before or after any judgment), payable on demand.
. (c) Interest shall accrue from the date a Revolver Loan is advanced or Obligation is incurred or payable, until paid in full by Borrowers, and shall in no event be less than zero at any time. Interest accrued on the Revolver Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of prepayment, with respect to the principal amount being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the applicable agreements or, if no payment date is specified, on demand.
Appears in 1 contract
Sources: Loan and Security Agreement (Super Micro Computer, Inc.)
Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Dutch Revolver Loan, at LIBOR, plus the Applicable Margin; provided that if LIBOR is unavailable for any reason, Dutch Revolver Term Loans shall bear interest at the Foreign Base Rate, plus 1.50%; (ii) if a U.S. Revolver Loan, at LIBOR, Term SOFR as in effect from time to time plus the Applicable Margin; Margin for SOFR Loans, except as otherwise provided that herein. Base Rate Loans (if LIBOR is unavailable for any reason, U.S. Revolver Loans applicable) shall bear interest at the U.S. Base Rate, Rate as in effect from time to time plus 0.50%, (iii) if any the Applicable Margin for Base Rate Loans. All other Dutch Obligation Obligations (including, to the extent permitted by law, interest not paid when due), ) shall bear interest at LIBOR Term SOFR as in effect from time to time, time plus the Applicable Margin for Dutch Revolver SOFR Loans; provided that if LIBOR is unavailable for . At any reason, such Dutch Obligations shall bear interest at the Foreign Base Rate, plus 1.50%, and (vi) if any other U.S. Obligation (including, to the extent permitted by law, interest not paid when due), at LIBOR in effect from time to time, plus the Applicable Margin for U.S. Revolver Loans; provided that if LIBOR is unavailable for any reason, such U.S. Obligations shall bear interest at the U.S. Base Rate, plus 0.50%.
(b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of Default if Agent or Required Lenders in their discretion so elect has occurred and notify the Borrower Agent in writingis continuing, Obligations shall bear interest at the Default Rate (whether before or after any judgment), payable on demand.
(cb) Interest shall accrue from the date a Revolver Loan is advanced made or Obligation is incurred or payable, payable until paid in full by Borrowersa Borrower. If a Loan is repaid on the same day made, and one day’s interest shall in no event be less than zero at any timeaccrue. Interest accrued on the Revolver Loans shall be due and payable in arrears, (i) (x) in the case of Base Rate Loans, on the first day (subject to Section 5.1(a)) of each month; calendar month and (y) in the case of SOFR Loans, on the last day of the respective Interest Period for such advance and, if any Interest Period is longer than three (3) months, then also on the three (3) month anniversary of such Interest Period and every three (3) months thereafter, and (ii) on any date of prepayment, with respect to the principal amount being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the applicable agreements orLoan Documents and, if no payment date is specified, shall be due and payable on earlier of the first day (subject to Section 5.1(a)) of the calendar month after incurred or demand or the Termination Date. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.
Appears in 1 contract
Rates and Payment of Interest. (a) The Obligations shall bear interest as follows:
(i) if in the case of a Dutch Base Rate Loan, at the Base Rate in effect from time to time, plus the Applicable Margin for such Base Rate Loan;
(ii) in the case of a LIBOR Revolver Loan, at LIBORa rate equal to LIBOR for the applicable Interest Period, plus the Applicable MarginMargin for such LIBOR Revolver Loans; provided that if LIBOR is unavailable for any reason, Dutch Revolver Loans shall bear interest at the Foreign Base Rate, plus 1.50%; (ii) if a U.S. Revolver Loan, at LIBOR, plus the Applicable Margin; provided that if LIBOR is unavailable for any reason, U.S. Revolver Loans shall bear interest at the U.S. Base Rate, plus 0.50%, and
(iii) if in the case of any other Dutch Obligation that is then due and payable (including, to the extent permitted by law, interest not paid when due), at LIBOR the Base Rate in effect from time to time, plus the Applicable Margin for Dutch Revolver Base Rate Loans; provided that if LIBOR is unavailable for any reason, such Dutch Obligations shall bear interest at the Foreign Base Rate, plus 1.50%, and (vi) if any other U.S. Obligation (including, to the extent permitted by law, interest not paid when due), at LIBOR in effect from time to time, plus the Applicable Margin for U.S. Revolver Loans; provided that if LIBOR is unavailable for any reason, such U.S. Obligations shall bear interest at the U.S. Base Rate, plus 0.50%.
(b) During an Insolvency Proceeding with respect to any Borrower, or during any other Event of Default if Agent or Required Lenders in their discretion so elect and notify the Borrower Agent in writing, Obligations shall bear interest at the Default Rate (whether before or after any judgment), payable on demand.
(c) . Interest shall accrue from the date a Revolver the Loan is advanced or the Obligation is incurred or becomes payable, until paid in full by Borrowersthe applicable Borrower(s), and shall in no event be less than zero at any time. If a Loan is repaid on the same day made, one day’s interest shall accrue.
(b) Interest on the Revolver Loans shall be payable in Dollars.
(c) If all or a portion of (i) the principal amount of any Loan or (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest (including post-petition interest during the pendency of any Insolvency Proceeding) at a rate per annum that is (x) in the case of overdue principal, the Default Rate or (y) in the case of any overdue interest or other amounts not paid when due hereunder, to the extent permitted by Applicable Law, the Default Rate from and including the date of such non-payment to but excluding the date on which such amount is paid in full (after as well as before judgment). Payment or acceptance of the increased rates of interest provided for in this Section 3.1.1 is not a permitted alternative to timely payment of amounts due hereunder and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of the Agent or any Lender.
(d) Interest accrued on the Revolver Loans shall be due and payable in arrears, (i) for any Base Rate Loan, quarterly on the first day of each monthJanuary, April, July and October for the preceding quarter; (ii) for any LIBOR Loan, on the last day of its Interest Period (and, if its Interest Period exceeds three months, at the end of each period of three months) and (iii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) . In addition, interest accrued on the Revolver Loans shall be due and payable in arrears on the Revolver Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the applicable agreements orLoan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.
Appears in 1 contract
Rates and Payment of Interest. (a) The Obligations shall bear interest (i) if a Dutch Revolver U.S. Base Rate Loan, at LIBORthe U.S. Base Rate in effect from time to time, plus the Applicable Margin; provided that if LIBOR is unavailable for any reason, Dutch Revolver Loans shall bear interest at the Foreign Base Rate, plus 1.50%; (ii) if a U.S. Revolver an Interest Period Loan, at LIBORthe applicable Eurocurrency Rate for the applicable Interest Period, plus the Applicable Margin; provided that if LIBOR is unavailable for any reason, U.S. Revolver Loans shall bear interest at the U.S. Base Rate, plus 0.50%, (iii) if a Foreign Base Rate Loan, at the Foreign Base Rate in effect from time to time, plus the Applicable Margin; (iv) if an Australian Bank ▇▇▇▇ Rate Loan, at the Australian Bank ▇▇▇▇ Rate in effect from time to time, plus the Applicable Margin; (v) if any other Dutch U.S. Facility Obligation (except as provided in Section 3.2.2(a) but including, to the extent permitted by law, interest not paid when due), at LIBOR the U.S. Base Rate in effect from time to time, plus the Applicable Margin for Dutch Revolver U.S. Base Rate Loans; provided that if LIBOR is unavailable for any reason, such Dutch Obligations shall bear interest at the Foreign Base Rate, plus 1.50%, and (vi) if any other U.S. Foreign Facility Obligation (except as provided in Section 3.2.2(b) but including, to the extent permitted by law, interest not paid when due), at LIBOR the Foreign Base Rate in effect from time to time, plus the Applicable Margin for U.S. Revolver Foreign Base Rate Loans; provided that if LIBOR is unavailable for any reason. Interest on the Loans shall be payable in the currency (i.e., such U.S. Obligations shall bear interest at Dollars, Euros, Australian Dollars or Sterling, as the U.S. Base Rate, plus 0.50%case may be) of the underlying Loan.
(b) During an Insolvency Proceeding with respect to any BorrowerEvent of Default under Section 11.1(a) or 11.1(h), or during any other Event of Default if Agent or Required Lenders in their discretion so elect and notify after written notice to Borrowers Agents, the Borrower Agent in writing, Obligations shall bear interest at the Default Rate (whether before or after any judgment), payable on demand. Each Borrower acknowledges that the cost and expense to Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is fair and reasonable compensation for this.
(c) Interest shall accrue from the date a Revolver Loan is advanced or Obligation is incurred or payable, until paid in full by the applicable Borrowers. If a Loan is repaid on the same day made, and one day’s interest shall in no event be less than zero at any timeaccrue. Interest accrued on the Revolver Loans shall be due and payable in arrears, (i) for any Base Rate Loan, on the first day of each month; (ii) for any Australian Bank ▇▇▇▇ Rate Loan or Interest Period Loan, on the last day of its Interest Period; and (iii) on any date of prepayment, with respect to the principal amount of Loans being prepaid; and (iii) . In addition, interest accrued on the Foreign Loans shall be due and payable on the Foreign Revolver Commitment Termination Date, and interest accrued on the U.S. Loans shall be due and payable on the U.S. Revolver Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the applicable agreements orLoan Documents and, if no payment date is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand.
Appears in 1 contract
Sources: Loan Agreement (Hyster-Yale Materials Handling, Inc.)