Common use of ADDITIONAL INTEREST ON TERM A ADVANCES Clause in Contracts

ADDITIONAL INTEREST ON TERM A ADVANCES. In addition to amounts payable under clause (i) or (ii) above and under Section 2.03(c) in respect of any Term A Advance, the Borrower shall pay to each Lender hereunder as additional interest an amount in lieu of the utilization fee equal to 0.25% per annum on the average daily amount of such Lender's Term A Advances during any period (each such period, an "Additional Interest Period") commencing on the Termination Date or on a subsequent January 1, April 1, July 1 or October 1 and ending in each case on the earliest to occur of the next succeeding March 31, June 30, September 30 or December 31 and the Final Maturity Date (or, if any Term A Advances remain outstanding after the Final Maturity Date, such later date on which all such Advances are repaid in full). Additional interest owing in respect of any Additional Interest Period shall be payable on the last day of such Additional Interest Period; provided that additional interest owing after the Final Maturity Date shall be payable on demand.

Appears in 2 contracts

Samples: Credit Agreement (Burlington Resources Inc), Credit Agreement (Burlington Resources Inc)

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ADDITIONAL INTEREST ON TERM A ADVANCES. In addition to amounts payable under clause (i) or (ii) above and under Section 2.03(c) in respect of any Term A Advance, the Borrower shall pay to each Lender hereunder as additional interest an amount in lieu of the utilization fee equal to 0.25% per annum on the average daily amount of such Lender's Term A Advances during any period (each such period, an "Additional Interest Period") commencing on the Termination Date or on a subsequent January 1, April 1, July 1 or October 1 and ending in each case on the earliest to occur of the next succeeding March 31, June 30, September 30 or December 31 and the Final Maturity Date (or, if any Term A Advances remain outstanding after the Final Maturity Date, such later date on which all such Advances are repaid in full). Additional interest owing in respect of any Additional Interest Period shall be payable on the last day of such Additional Interest Period; provided that additional interest owing after the Final Maturity Date shall be payable on demand.

Appears in 1 contract

Samples: Credit Agreement (Burlington Resources Inc)

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ADDITIONAL INTEREST ON TERM A ADVANCES. In addition to amounts payable under clause (i) or (ii) above and under Section 2.03(c) in respect of any Term A Advance, the Borrower shall pay to each Lender hereunder as additional interest an amount in lieu of the utilization fee equal to 0.25% per annum on the average daily amount of such Lender's Term A Advances during any period (each such period, an "Additional Interest Period") during the term of this Agreement commencing on the Termination Date or on a subsequent January 1, April 1, July 1 or October 1 and ending in each case on the earliest to occur of the next succeeding March 31, June 30, September 30 or December 31 and the Final Maturity Date (orDate, if any during such Additional Interest Period the average daily outstanding amount of all Term A Advances remain outstanding after was greater than 25% of the Final Maturity aggregate amount of all the Commitments on the Termination Date, such later date on which all such Advances are repaid in full). Additional If additional interest is owing in respect of any Additional Interest Period Period, such amount shall be payable on the last day of such Additional Interest Period; provided that additional interest owing after the Final Maturity Date shall be payable on demand.

Appears in 1 contract

Samples: Credit Agreement (Burlington Resources Inc)

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