Common use of Additional Interest and Fees Clause in Contracts

Additional Interest and Fees. (a) The Revolving Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment interest (the “Commitment Interest”), which shall accrue at the Applicable Margin on the average daily unused portion of the Commitments during the period from and including the Closing Date to but excluding the date on which such Commitment terminates; provided that solely for the purposes of calculating the Commitment Interest, Swingline Loans shall not be deemed to be a utilization of the Commitments. Accrued Commitment Interest shall be payable in arrears on the last Business Day of each March, June, September and December of each year and on the date on which the Commitments terminate, commencing on the first such date to occur after the date hereof; provided that any Commitment Interest accruing after the date on which the Commitments terminate shall be payable on demand. All Commitment Interest shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). (b) [Reserved]. (c) The Revolving Borrower agrees to pay to the Administrative Agent for the account of each applicable Lender, upfront fees equal to a percentage disclosed in writing to such Lender by the Company and the Administrative Agent on or prior to the Closing Date of the aggregate principal amount of such Lender’s Commitment on the Closing Date. (d) The Revolving Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Margin used to determine the interest rate applicable to Eurocurrency Revolving Loans on the average daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Closing Date to but excluding the later of the date on which such Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Revolving Borrower and the Issuing Bank (but which shall not exceed 0.125%) on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Closing Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the last Business Day of each such month, commencing on the first such date to occur after the Closing Date; provided that all such fees shall be payable on the date on which the Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). (e) The Revolving Borrower agrees to pay to the Lead Arrangers, the Administrative Agent and the Syndication Agent fees payable in the amounts and at the times separately agreed upon by them. (f) All additional interest and fees payable hereunder shall be paid on the dates due, in immediately available funds in Dollars, to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of Commitment Interest, upfront fees in clause (c) above and participation fees, to the Lenders. Such additional interest and fees paid shall not be refundable under any circumstances.

Appears in 2 contracts

Samples: Revolving Credit Agreement (PERRIGO Co PLC), Revolving Credit Agreement (PERRIGO Co PLC)

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Additional Interest and Fees. (a) The Revolving Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment interest (the “Commitment Interest”), which shall accrue at the Applicable Margin on the average daily unused portion of the Commitments during the period from and including the Closing Effective Date to but excluding the date on which such Commitment terminates; provided that that, solely for the purposes of calculating the Commitment Interest, Swingline Loans shall not be deemed to be a utilization of the Commitments. Accrued Commitment Interest shall be payable in arrears on the last Business Day of each March, June, September and December of each year and on the date on which the Commitments terminate, commencing on the first such date to occur after the date hereof; provided that any Commitment Interest accruing after the date on which the Commitments terminate shall be payable on demand. All Commitment Interest shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). (b) [Reserved]The Revolving Borrower agrees to pay to the Administrative Agent for the account of the Lenders (ratably in accordance with their Commitments) ticking interest (the “Ticking Interest”) commencing on January 5, 2015 and ending on the earlier date set forth below in clauses (a) and (b) hereof, equal to the Applicable Margin per annum, in each case, on the aggregate daily amount of the Acquisition Closing Date Commitments of the Lenders during such period, such interest to be earned and payable in full on the earlier of (a) the date the Acquisition Closing Date Commitments are terminated in their entirety or otherwise reduced to zero and (b) the Acquisition Closing Date. (c) The Revolving Borrower agrees to pay to the Administrative Agent for the account of each applicable Lender, upfront fees equal to a percentage disclosed in writing to such Lender by the Company and the Administrative Agent on or prior to the Closing Effective Date of the aggregate principal amount of such Lender’s Acquisition Closing Date Commitment on the Acquisition Closing Date, due and payable on the Acquisition Closing Date. (d) The Revolving Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Margin used to determine the interest rate applicable to Eurocurrency Revolving Loans on the average daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Acquisition Closing Date to but excluding the later of the date on which such Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Revolving Borrower and the Issuing Bank (but which shall not exceed 0.125%) on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Acquisition Closing Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the last Business Day of each such month, commencing on the first such date to occur after the Acquisition Closing Date; provided that all such fees shall be payable on the date on which the Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). (e) The Revolving Borrower agrees to pay to the Lead Arrangers, the Administrative Agent and the Syndication Agent fees payable in the amounts and at the times separately agreed upon by them. (f) All additional interest and fees payable hereunder shall be paid on the dates due, in immediately available funds in Dollars, to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of Commitment Interest, upfront fees in clause (c) above and participation fees, to the Lenders. Such additional interest and fees paid shall not be refundable under any circumstances.

Appears in 1 contract

Samples: Revolving Credit Agreement (Perrigo Finance PLC)

Additional Interest and Fees. (a) The Revolving Tranche 2 Borrower agrees to pay to the Administrative Agent for the account of the Lenders (ratably in accordance with their Tranche 2 Delayed Draw Commitments) ticking interest (the “Ticking Interest”) commencing on January 5, 2015 and ending on the earlier date set forth below in clauses (a) and (b) hereof, equal to the Applicable Margin per annum, in each Lender a case, on the aggregate daily amount of the unfunded Tranche 2 Delayed Draw Commitments of the Lenders during such period, such interest to be earned and payable in full on the earlier of (a) the date the Tranche 2 Delayed Draw Commitments are terminated in their entirety or otherwise reduced to zero and (b) the Acquisition Closing Date. (b) The Tranche 2 Borrower agrees to pay to the Administrative Agent for the account of the Lenders (ratably in accordance with their Tranche 2 Delayed Draw Commitments) commitment interest (the “Commitment Interest”)) commencing on the Acquisition Closing Date and ending on the date all Tranche 2 Delayed Draw Commitments are terminated in their entirety or otherwise reduced to zero, which shall accrue at equal to the Applicable Margin per annum, in each case, on the average aggregate daily unused portion amount of the Tranche 2 Delayed Draw Commitments of the Lenders during the period from and including the Closing Date to but excluding the date on which such Commitment terminates; provided that solely for the purposes of calculating the Commitment Interestperiod, Swingline Loans shall not be deemed such interest to be a utilization of the Commitments. Accrued Commitment Interest shall be earned and payable in arrears on the last Business Day of each March, June, September and December of each year and full on the date on which the Tranche 2 Delayed Draw Commitments terminate, commencing on the first such date are terminated in their entirety or otherwise reduced to occur after the date hereof; provided that any Commitment Interest accruing after the date on which the Commitments terminate shall be payable on demand. All Commitment Interest shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). (b) [Reserved]zero. (c) The Revolving Tranche 2 Borrower agrees to pay to the Administrative Agent for the account of each applicable Lender, upfront fees equal to a percentage disclosed in writing to such Lender by the Company and the Administrative Agent on or prior to the Closing Effective Date of (i) the aggregate principal amount of outstanding Tranche 2 Delayed Draw Loans and Tranche 2 Delayed Draw Commitments of such Lender’s Commitment Lender as of the date that is 60 days after the Effective Date, due and payable on the date that is 60 days after the Effective Date, plus (ii) the aggregate amount of outstanding Tranche 2 Delayed Draw Loans and Tranche 2 Delayed Draw Commitments of such Lender as of the date that is 120 days after the Effective Date, due and payable on such 120th day after the Effective Date, plus (iii) the aggregate amount of outstanding Tranche 2 Delayed Draw Loans and Tranche 2 Delayed Draw Commitments of such Lender as of the Acquisition Closing Date, due and payable on the Acquisition Closing Date. (d) The Revolving Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Margin used to determine the interest rate applicable to Eurocurrency Revolving Loans on the average daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Closing Date to but excluding the later of the date on which such Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Revolving Borrower and the Issuing Bank (but which shall not exceed 0.125%) on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Closing Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the last Business Day of each such month, commencing on the first such date to occur after the Closing Date; provided that all such fees shall be payable on the date on which the Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). (e) The Revolving Borrower agrees Term Facility Borrowers agree to pay to the Lead Arrangers, the Administrative Agent and the Syndication Agent fees payable to them in the amounts and at the times separately agreed upon by them. (fe) All additional interest and fees payable hereunder shall be paid on the dates due, in immediately available funds and in Dollars (in the case of fees relating to Loans or Commitments denominated in Dollars) and Euros (in the case of fees relating to Loans or Commitments denominated in Euro), to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of Commitment Ticking Interest, Commitment Interest and the upfront fees in clause (c) above and participation feesabove, to the Lenders. Such additional interest and fees paid shall not be refundable under any circumstances.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Perrigo Finance PLC)

Additional Interest and Fees. (a) The Revolving Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment interest (the “Commitment Interest”), which shall accrue at the Applicable Margin on the average daily unused portion of the Commitments during the period from and including the Closing Effective Date to but excluding the date on which such Commitment terminates; provided that that, solely for the purposes of calculating the Commitment Interest, Swingline Loans shall not be deemed to be a utilization of the Commitments. Accrued Commitment Interest shall be payable in arrears on the last Business Day of each March, June, September and December of each year and on the date on which the Commitments terminate, commencing on the first such date to occur after the date hereof; provided that any Commitment Interest accruing after the date on which the Commitments terminate shall be payable on demand. All Commitment Interest shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). (b) [Reserved]. (c) The Revolving Borrower agrees to pay to the Administrative Agent for the account of each applicable Lender, upfront fees equal to a percentage disclosed in writing to such Lender by the Company and the Administrative Agent on or prior to the Closing Date of the aggregate principal amount of such Lender’s Commitment on the Closing Date. (d) The Revolving Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Margin used to determine the interest rate applicable to Eurocurrency Revolving Loans on the average daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Acquisition Closing Date to but excluding the later of the date on which such Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Revolving Borrower and the Issuing Bank (but which shall not exceed 0.125%) on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Acquisition Closing Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the last Business Day of each such month, commencing on the first such date to occur after the Acquisition Closing Date; provided that all such fees shall be payable on the date on which the Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). (ec) The Revolving Borrower agrees to pay to the Lead ArrangersBookrunners, the Administrative Agent and the Syndication Agent fees payable in the amounts and at the times separately agreed upon by them. (fd) All additional interest and fees payable hereunder shall be paid on the dates due, in immediately available funds in Dollarsfunds, to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of Commitment Interest, upfront fees in clause (c) above Interest and participation fees, to the Lenders. Such additional interest and fees paid shall not be refundable under any circumstances.

Appears in 1 contract

Samples: Revolving Credit Agreement (PERRIGO Co LTD)

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Additional Interest and Fees. (a) The Revolving Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment interest (the “Commitment Interest”), which shall accrue at the Applicable Margin on the average daily unused portion of the Commitments during the period from and including the Closing Effective Date to but excluding the date on which such Commitment terminates; provided that that, solely for the purposes of calculating the Commitment Interest, Swingline Loans shall not be deemed to be a utilization of the Commitments. Accrued Commitment Interest shall be payable in arrears on the last Business Day of each March, June, September and December of each year and on the date on which the Commitments terminate, commencing on the first such date to occur after the date hereof; provided that any Commitment Interest accruing after the date on which the Commitments terminate shall be payable on demand. All Commitment Interest shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). (b) [Reserved]. (c) The Revolving Borrower agrees to pay to the Administrative Agent for the account of each applicable Lender, upfront fees equal to a percentage disclosed in writing to such Lender by the Company and the Administrative Agent applicable Fee Letter on or prior to the Closing Effective Date of the aggregate principal amount of such Lender’s Commitment on the Closing Effective Date, due and payable on the Effective Date. (dc) The Revolving Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Margin used to determine the interest rate applicable to Eurocurrency Revolving Loans on the average daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Closing Effective Date to but excluding the later of the date on which such Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Revolving Borrower and the Issuing Bank (but which shall not exceed 0.125%) on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Closing Effective Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s 's standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the last Business Day of each such month, commencing on the first such date to occur after the Closing Effective Date; provided that all such fees shall be payable on the date on which the Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). (ed) The Revolving Borrower agrees to pay to the Lead Arrangers, the Administrative Agent and the Syndication Agent Agents fees payable in the amounts and at the times separately agreed upon by them. (fe) All additional interest and fees set forth in the Fee Letters payable hereunder shall be paid on the dates dueset forth in the applicable Fee Letters, in immediately available funds in Dollars, to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of Commitment Interest, upfront fees in clause (cb) above and participation fees, to the Lenders. Such additional interest and fees paid shall not be refundable under any circumstances.

Appears in 1 contract

Samples: Revolving Credit Agreement (PERRIGO Co PLC)

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