Accrual and payment of. interest Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers to the Agent for the account of the Lenders on the last day of each Interest Period and, if the Interest Period is longer than three months, on the dates falling at three monthly intervals after the first day of that Interest Period.
Appears in 8 contracts
Samples: Facility Agreement, Teekay Offshore Partners L.P., Facility Agreement (Teekay Corp)
Accrual and payment of. interest Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers Borrower to the Agent for the account of the Lenders on the last day of each Interest Period and, if the Interest Period is longer than three months, on the dates falling at three monthly intervals after the first day of that Interest Period.
Appears in 5 contracts
Samples: Loan Agreement, Loan Agreement (Teekay Offshore Partners L.P.), Teekay LNG Partners L.P.
Accrual and payment of. interest Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed elapsed, for the avoidance of doubt, the first day of Interest Period is inclusive and the last day is exclusive (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers Borrower to the Agent for the account of the Lenders on the last day of each Interest Period and, if the Interest Period is longer than three months, on the dates falling at three monthly intervals after the first day of that Interest Period.
Appears in 2 contracts
Samples: Loan Agreement (Teekay LNG Partners L.P.), www.lw.com
Accrual and payment of. interest Interest During the Facility Period, interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers Borrower to the Agent for the account on behalf of the Lenders Banks on the last day of each Interest Period andand additionally, if the during any Interest Period is longer than exceeding three months, on the dates falling at last day of each successive three monthly intervals month period after the first day beginning of that Interest Period.
Appears in 2 contracts
Samples: Loan Facility Agreement, Stolt Comex (Stolt Offshore S A)
Accrual and payment of. interest Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers to the Agent for the account on behalf of the Lenders Banks on the last day of each Interest Period andand additionally, if the during any Interest Period is longer than exceeding three (3) months, on the dates falling at last day of each successive three monthly intervals after the first day (3) month period of that Interest Period.
Appears in 2 contracts
Samples: Loan Agreement (Mc Shipping Inc), Loan Agreement (Mc Shipping Inc)
Accrual and payment of. interest Interest During the Facility Period, interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers to the Agent for the account on behalf of the Lenders on the last day of each Interest Period and, if the Interest Period is longer than three months, on the dates falling at three monthly intervals after the first day of that Interest Period.
Appears in 1 contract
Samples: Agreement (Teekay LNG Partners L.P.)
Accrual and payment of. interest Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers Borrower to the Agent for the account of the Lenders on the last day of each Interest Period and, if the Interest Period is longer than three six (6) months, on the dates falling at three (3) monthly intervals after the first day of that Interest Period.
Appears in 1 contract
Samples: Teekay Offshore Partners L.P.
Accrual and payment of. interest Interest During the Facility Period,interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers Borrower to the Agent for the account on behalf of the Lenders Banks on the last day of each Interest Period andand additionally, if the during any Interest Period is longer than exceeding three months, on the dates falling at last day of each successive three monthly intervals month period after the first day beginning of that Interest Period.
Appears in 1 contract
Accrual and payment of. interest INTEREST Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers Borrower to the Agent for the account on behalf of the Lenders Banks on the last day of each Interest Period andand additionally, if the during any Interest Period is longer than exceeding three months, on the dates falling at last day of each successive three monthly intervals month period after the first day beginning of that Interest Period.
Appears in 1 contract
Accrual and payment of. interest Interest During the Facility Period, interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers to the Agent for the account on behalf of the Lenders on the last day of each Interest Period andand additionally, if the during any Interest Period is longer than exceeding three months, on the dates falling at last day of each successive three monthly intervals month period after the first day beginning of that Interest Period.
Appears in 1 contract
Samples: Agreement (Teekay LNG Partners L.P.)
Accrual and payment of. interest Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers to the Agent for the account of the Lenders on the last day of each Interest Period and, if the Interest Period is longer than three (3) months, on the dates falling at three monthly intervals after the first day of that Interest Period.
Appears in 1 contract
Accrual and payment of. interest Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers Borrower to the Agent for the account of the Lenders Lender on the last day of each Interest Period and, if the Interest Period is longer than three (3) months, on the dates falling at three (3) monthly intervals after the first day of that Interest Period.
Appears in 1 contract
Accrual and payment of. interest INTEREST Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers Borrower to the Agent for the account of the Lenders on the last day of each Interest Period and, if the Interest Period is longer than three months, on the dates falling at three monthly intervals after the first day of that Interest Period.
Appears in 1 contract
Samples: Loan Agreement
Accrual and payment of. interest Interest During the Facility Period, interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers to the Agent for the account on behalf of the Lenders Banks on the last day of each Interest Period andand additionally, if the during any Interest Period is longer than exceeding three months, on the dates falling at last day of each successive three monthly intervals month period after the first day beginning of that Interest Period.
Appears in 1 contract
Accrual and payment of. interest Interest shall accrue from day to day, shall be calculated on the basis of a 360 day year and the actual number of days elapsed (or, in any circumstance where market practice differs, in accordance with the prevailing market practice) and shall be paid by the Borrowers Borrower to the Agent for the account of the Lenders Lender on the last day of each Interest Period and, if the Interest Period is longer than three six (6) months, on the dates falling at three six (6) monthly intervals after the first day of that Interest Period.
Appears in 1 contract
Samples: Agreement (Safe Bulkers, Inc.)