Additional Interest Payments. If the Company makes any dividend or other distribution of cash, securities, rights, evidences of indebtedness or other asset or property to all or substantially all holder of its Common Stock at any time when any Securities are outstanding under the Indenture, the Company shall pay additional interest on the Securities in an amount and type (whether cash, securities, rights, evidences of indebtedness or other asset or property) equal to the amount and type that would be paid on the shares of Common Stock into which such Securities could be converted on the applicable Dividend Record Date for such dividend or other distribution on the Common Stock, assuming such converted shares of Common Stock were outstanding on the applicable Dividend Record Date (an “Additional Interest Payment”, and any such Additional Interest Payment for which a Holder is the holder of record of the Securities on the relevant Dividend Record Date and which remains unpaid on any subsequent date, an “Unpaid Additional Interest Payment” with respect to such Holder). However, notwithstanding the foregoing, Holders shall not be entitled to receive any additional interest payment for which an adjustment to the Conversion Rate is made pursuant to Section 12.2 of the Indenture, and such additional interest payments that are not payable to Holders as a result of this sentence shall not be deemed Additional Interest Payments. Additional Interest Payments shall be paid at the same time as such dividend or other distribution on the Common Stock is paid to the holders of Common Stock and no such dividend or distribution on the Common Stock shall be made unless and until the Additional Interest Payments are paid (or are concurrently being paid).
Additional Interest Payments. If the Company makes any dividend or other distribution to all or subtantially all holders of its Common Stock, the Company shall pay additional interest in an amount equal to the amount that would be paid on the shares of Common Stock into which such Securities could be converted on the applicable Dividend Record Date for such dividend or other distribution on the Common Stock, assuming such converted shares of Common Stock were outstanding on the applicable Dividend Record Date (an “Additional Interest Payment”, and any such Additional Interest Payment for which a Holder is the holder of record of the Securities on the relevant Dividend Record Date and which remains unpaid on any subsequent date, an “Unpaid Additional Interest Payment” with respect to such Holder); provided, however, that notwithstanding the foregoing, Holders shall not be entitled to receive any additional interest payment for which an adjustment to the Conversion Rate is made pursuant to Section 12.2, and such additional interest payments that are not payable to Holders as a result of this proviso shall not be deemed Additional Interest Payments. Additional Interest Payments shall be paid at the same time as such dividend or other distribution on the Common Stock is paid to the holders of Common Stock; provided, however, that no such dividend or distribution on the Common Stock shall be made unless and until the Additional Interest Payments are paid (or are concurrently being paid) pursuant to this Section 3.2.
Additional Interest Payments. 2 percent per annum (the “Additional Interest Payment”) in cash on each Interest Payment Date, provided that Interest Excess Availability exists; and
Additional Interest Payments. In addition to the payments set forth in Section 4b, upon the date of conversion of any Fixed Rate Loan to another Fixed Rate Loan, Borrower shall pay to Lender all interest accrued to the date of conversion.
Additional Interest Payments. During the continuance of any Event of Default, the Borrower shall, on demand, pay to the Lenders interest on the unpaid principal balance of the Advances and, to the extent permitted by law, on any overdue installments of interest, at a rate per annum equal to the lesser of (i) the applicable interest rate on Advances hereunder plus three percent (3%), or (ii) the maximum rate of interest permitted to be charged under applicable law.
Additional Interest Payments. (a) The Borrower shall pay to the Lender (i) in respect of each Fiscal Year (or portion of a Fiscal Year, in the case of the first Fiscal Year and last Fiscal Year of the Additional Interest Term) during the Additional Interest Term, an amount of additional interest equal to the sum of (A) 1.25% of the aggregate Net Sales of all Products during such Fiscal Year (or portion of a Fiscal Year, as the case may be) up to €50,000,000 of such Net Sales, plus (B) 1.50% of the aggregate Net Sales of all Products during such Fiscal Year (or portion of a Fiscal Year, as the case may be) in excess of €50,000,000 but not exceeding €75,000,000 and (ii) if the Second Tranche Loan has been funded, in respect of each Fiscal Year (or portion of a Fiscal Year, in the case of the first Fiscal Year and last Fiscal Year of the Second Tranche Loan Additional Interest Term) during the Second Tranche Loan Additional Interest Term, an amount of additional interest equal to the sum of (A) 0.55% of the aggregate Net Sales of all Products during such Fiscal Year (or portion of a Fiscal Year, as the case may be) up to €50,000,000 of such Net Sales, plus (B) 0.65% of the aggregate Net Sales of all Products during such Fiscal Year (or portion of a Fiscal Year, as the case may be) in excess of €50,000,000 but not exceeding €75,000,000.
(b) Amounts payable pursuant to Section 10.2.1
(a) (i) shall be calculated quarterly as of the last day of each Fiscal Quarter during the Additional Interest Term, and shall be payable by the Borrower to the Lender within 30 days after the end of each such Fiscal Quarter (each such payment, a “First Tranche Loan Additional Interest Payment”). Amounts payable pursuant to Section 10.2.1(a)(ii) shall be calculated quarterly as of the last day of each Fiscal Quarter during the Second Tranche Loan Additional Interest Term, and shall be payable by the Borrower to the Lender within 30 days after the end of each such Fiscal Quarter (each such payment, a “Second Tranche Loan Additional Interest Payment”). The first First Tranche Loan Additional Interest Payment shall be determined based on Net Sales for the entire Fiscal Quarter in which the Closing Date occurs, and the last First Tranche Loan Additional Interest Payment (other than in the case of the Additional Interest Term ending on the date of payment of the Additional Interest Premium Amount) shall be determined based on Net Sales for the entire Fiscal Quarter in which the last day of the Additional Interest Te...
Additional Interest Payments. In addition to the payments of principal and interest on the Note, the Borrower shall, on demand, pay to the Lender interest on (a) any overdue installments of principal, (b) to the extent not prohibited by applicable law which cannot be waived, any installments of interest that are overdue for a period of five (5) days after written notice from the Lender to the Borrower, and (c) any overdue payment of a commitment fee or other amount payable hereunder, at a rate which is two (2) percent in excess of the rate otherwise applicable.
Additional Interest Payments. Solely from Adjusted Cash Flow on an annual basis, on or before April 1 of each year (commencing on April 1, 20[ ]), all Additional Interest due to the Mortgagee under the Loan Documents;
Additional Interest Payments. (i) If Borrower shall not have disposed of its Engine and Powertrain Products Segment (as reported on the Financial Statements) on or before December 31, 2007, additional PIK interest shall accrue on the Loan at the Additional PIK Rate from and after January 1, 2008.
(ii) If the Borrower shall not have engaged and have in place the CEO on or before May 1, 2007, additional cash interest shall accrue on the Loan at the Additional Cash Rate during the period beginning on May 1, 2007 and ending on that date on which the CEO assumes his duties with the Borrower, provided, however, that no such cash interest shall accrue if the failure to meet such deadline is as a result of (x) the inability of an engaged candidate to undertake his duties by such date due to a personal emergency on the part of the candidate or (y) the inability to reach agreement with a candidate on the terms of employment despite the Borrowers best commercially reasonable efforts to do so.
(iii) Interest (a) accrued at the Additional PIK Rate under this clause (e) will be added to the principal amount outstanding under the Loan on the last day of each calendar month and (b) accrued at the Additional Cash Rate shall be payable in cash on the last day of each calendar month.
(f) Article V (Financial Covenants) of the Credit Agreement is hereby amended as follows:
(i) Section 5.2 of the Credit Agreement is hereby amended as follows:
(1) by deleting the number "$50,000,000" set forth opposite September 30, 2007 in the table under the heading "Minimum Cumulative EBITDA" and inserting "$40,000,000" in lieu thereof; and
(2) by deleting the number "$80,000,000" set forth opposite December 31, 2007 in the table under the heading "Minimum EBITDA and inserting "$60,000,000" in lieu thereof
(ii) Section 5.3 of the Credit Agreement is hereby amended in its entirety as follows:
Additional Interest Payments. Additional interest determined to be payable on the Notes in accordance with either Section 1.3(b) or Section 1.3(c) in respect of any period for which the regular semiannual interest payment has previously been made by the Company on the assumption that no such additional interest was due under such Sections shall be payable within 10 days after the giving of the applicable Notice of Reserve Adjustment or Notice of Deficiency Rate Increase, as the case may be, setting forth such determination without affecting the obligation of the Company in respect of subsequent regular semiannual interest payments on the Notes, and the Company shall give the holders of the Notes at least five days’ prior written notice of such payment.”
