Common use of Swingline Advances Clause in Contracts

Swingline Advances. If such Advance is a Swingline Advance, a rate per annum equal at all times to the lesser of (i) the Quoted Rate and (ii) the Maximum Rate, payable in arrears on the date such Advance shall be paid in full, provided that any amount of principal which is not paid when due (whether at stated maturity, by acceleration or otherwise) shall bear interest from the date on which such amount is due until such amount is paid in full, payable on demand, at a rate per annum equal at all times to the lesser of (i) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (ii) the Maximum Rate.

Appears in 1 contract

Sources: Credit Agreement (Arkansas Best Corp /De/)

Swingline Advances. If such Advance is a Swingline Advance, a rate per annum equal at all times to the lesser of (i) the Quoted Swingline Rate for such Swingline Advance and (ii) the Maximum Rate, payable quarterly in arrears on the date such Advance shall be paid in fulllast Business Day of each calendar quarter, commencing with the calendar quarter ending September 30, 2005, and on the Maturity Date; provided that if any amount payment of principal which on any Advance is not paid made when due (whether at stated maturitydue, by acceleration or otherwise) such Advances shall bear interest from the date on which such amount is payment was due until such amount is Advances are paid in full, payable on demand, at a rate per annum equal at all times to the lesser of (iA) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (iiB) the Maximum Rate.

Appears in 1 contract

Sources: Credit Agreement (National Oilwell Varco Inc)

Swingline Advances. If such Advance is a Swingline Advance, a rate per annum equal at all times to the lesser of (i) the Quoted Adjusted Prime Rate in effect from time to time plus the Applicable Margin and (ii) the Maximum Rate, payable in arrears on the date such Advance shall be paid in full, ; provided that if any amount payment of principal which on any Advance is not paid made when due (whether at stated maturitydue, by acceleration or otherwise) such Advances shall bear interest from the date on which such amount is payment was due until such amount is Advances are paid in full, payable on demand, at a rate per annum equal at all times to the lesser of (iA) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (iiB) the Maximum Rate.

Appears in 1 contract

Sources: Credit Agreement (Varco International Inc /De/)

Swingline Advances. If such Advance is a Swingline Advance, a rate per annum equal at all times to the lesser of (i) the Quoted Swingline Rate for such Swingline Advance and (ii) the Maximum Rate, payable quarterly in arrears on the date such Advance shall be paid in fulllast Business Day of each calendar quarter, commencing with the calendar quarter ending June 30, 2008, and on the Maturity Date; provided that if any amount payment of principal which on any Advance is not paid made when due (whether at stated maturitydue, by acceleration or otherwise) such Advances shall bear interest from the date on which such amount is payment was due until such amount is Advances are paid in full, payable on demand, at a rate per annum equal at all times to the lesser of (iA) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (iiB) the Maximum Rate.

Appears in 1 contract

Sources: Credit Agreement (National Oilwell Varco Inc)

Swingline Advances. If such Advance is a Swingline Advance, a rate per annum equal at all times to the lesser of (i) the Quoted Swingline Rate for such Swingline Advance and (ii) the Maximum Rate, payable quarterly in arrears on the date such Advance shall be paid in fulllast Business Day of each calendar quarter, commencing with the calendar quarter ending September 30, 2012, and on the Maturity Date; provided that if any amount payment of principal which on any Advance is not paid made when due (whether at stated maturitydue, by acceleration or otherwise) such Advances shall bear interest from the date on which such amount is payment was due until such amount is Advances are paid in full, payable on demand, at a rate per annum equal at all times to the lesser of (iA) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (iiB) the Maximum Rate.

Appears in 1 contract

Sources: Credit Agreement (National Oilwell Varco Inc)

Swingline Advances. If such Advance is a Swingline Advance, ------------------ a rate per annum equal at all times to the lesser of (i) the Quoted Adjusted Prime Rate in effect from time to time plus the Applicable Margin and (ii) the Maximum ---- Rate, payable in arrears on the date such Advance shall be paid in full, ; provided that if any amount payment of principal which on any Advance is not paid made when due (whether at stated maturitydue, by acceleration or otherwise) -------- such Advances shall bear interest from the date on which such amount is payment was due until such amount is Advances are paid in full, payable on demand, at a rate per annum equal at all times to the lesser of (iA) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (iiB) the Maximum ---- Rate.

Appears in 1 contract

Sources: Credit Agreement (Varco International Inc /De/)

Swingline Advances. If such Advance is a Swingline Advance, a rate per annum equal at all times to the lesser of (i) the Quoted Swingline Rate for such Swingline Advance and (ii) the Maximum Rate, payable quarterly in arrears on the date such Advance shall be paid in fulllast Business Day of each calendar quarter, commencing with the calendar quarter ending June 30, 2017, and on the Maturity Date; provided that if any amount payment of principal which on any Advance is not paid made when due (whether at stated maturitydue, by acceleration or otherwise) such Advances shall bear interest from the date on which such amount is payment was due until such amount is Advances are paid in full, payable on demand, at a rate per annum equal at all times to the lesser of (iA) the rate required to be paid on such Advance immediately prior to the date on which such amount becomes due plus two percent (2%) and (iiB) the Maximum Rate.

Appears in 1 contract

Sources: Credit Agreement (National Oilwell Varco Inc)