APPLICATION OF INTEREST PAYMENTS Sample Clauses

APPLICATION OF INTEREST PAYMENTS. Interest and commissions payable by the Borrowers shall be paid as follows: (a) as to interest and commissions due with respect to the International Facility Loans, to the Fronting Banks, for the account of the respective Fronting Banks, PROVIDED that (i) to the extent that a Lender has paid to such Fronting Bank any amount in respect of any Fronted Loan pursuant to Section 6.12, interest or commissions to the extent as aforesaid on such amount of such Fronted Loan (including, without limitation, any interest accruing at rates calculated in accordance with Section 6.11) shall thereafter accrue for the account of such Lender, and (ii) the Fronting Banks shall pay all amounts of interest received by them in an amount equal to the Applicable Margin to the Administrative Agent for the account of the Lenders in the proportion of the Lenders' respective Commitment Percentages; and (b) as to interest due with respect to Revolving Credit Loans, to the Administrative Agent for the account of the Lenders in the proportion of the Lenders' respective Commitment Percentages.
Sample 1
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APPLICATION OF INTEREST PAYMENTS. Interest and commissions payable by the Borrowers shall be paid as follows: (a) as to interest and commissions due with respect to Fronted Loans to the Fronting Bank, for the account of the Fronting Bank, provided that (i) to the extent that a Bank has paid to the Fronting Bank any amount in respect of any Fronted Loan pursuant to Section 6.12, interest or commissions to the extent as aforesaid on such amount of such Fronting Loan shall thereafter accrue for the account of such Bank, and (ii) the Fronting Bank shall pay all amounts of interest received with respect to the Applicable Margin to the Agent for the account of the Banks in the proportion of their respective Revolving Credit Commitment Percentages (with respect to interest and commission on International Facility Loans) or in the proportion of their respective Term A Commitment Percentages (with respect to interest on the German Tranche and UK Tranche of Term Loan A) provided, however, that, for purposes of this clause (ii) only, the Applicable Margin shall be deemed to be that Applicable Margin which is to be applied to Eurocurrency Rate Loans; (b) as to interest due with respect to the Third US Tranche of Term Loan A, to the Agent for the account of the Third Tranche Lenders in the proportion to their respective Third Tranche Commitment Percentages from time to time; (c) as to interest due with respect to Term Loan B, to the Agent for the account of the Term B Lenders in the proportion of their respective Term B Commitment Percentages from time to time; (d) as to interest due with respect to Term Loan A (except to the extent provided in clauses (a) and (b) above), to the Agent for the account of the Banks in the proportion of their respective Term A Commitment Percentages from time to time; and (e) as to interest due with respect to Revolving Credit Loans, to the Agent for the account of the Banks in the proportion of their respective Revolving Credit Commitment Percentages from time to time." Section 1.18. Section 6.5 is amended by deleting "the Banks" on line 15 thereof and substituting therefor "the applicable Lender(s)". Section 1.19. Section 9.9.2 is amended by deleting the words "Twice each calendar year (or more frequently as determined by the Agent)," from the first two lines thereof. Section 11.1 (Consolidated EBITDA to Consolidated Total Interest Expense) is amended by deleting the ratio "4.00:1" on the last line of the column headed "Ratio" in the chart therein, and substituting ther...
Sample 1
APPLICATION OF INTEREST PAYMENTS. Interest payable by the Company on the Notes shall be paid to the Administrative Agent for the account of the Holders in the proportion of the respective principal amount of each Holder's Note or Notes.
Sample 1
APPLICATION OF INTEREST PAYMENTS. All amounts tendered by or collected from Borrower or any other Person representing interest payments on the Loans made anytime prior to the day on which the Notes have been declared due and payable pursuant to Section 20.1, including interest paid from the proceeds of any Facility A Loans, shall be applied in the following order of priority: first, ratably to the Facility A Lenders to pay all accrued and unpaid interest then due and payable to the Facility A Lenders, pro rata in proportion to their respective Facility A Pro Rata Share; second, ratably to the Facility B-1 Lenders to pay all accrued and unpaid interest then due and payable to the Facility B-1 Lenders, pro rata in proportion to their respective Facility B-1 Pro Rata Share; third, ratably to the Facility B-2 Lenders to pay all accrued and unpaid interest then due and payable to the Facility B-2 Lenders, pro rata in proportion to their respective Facility B-2 Pro Rata Share;
Sample 1
APPLICATION OF INTEREST PAYMENTS. As promptly as is practicable following each date upon which the Agent receives a payment of interest under this Agreement on account of any Multicurrency Loans, the Agent shall distribute to the Fronting Lender such amount. In consideration of the agreement of the Lenders to purchase participating interests in any Multicurrency Loans, the Fronting Lender shall pay to the Agent, for the ratable accounts of each Lender, a risk participation fee, in the currency of such interest payment or from a conversion of such currency to U.S. Dollars, as determined by each Lender, in an amount equal to the portion of such interest payment which constitutes the Applicable Margin thereof (or, if applicable, the amount of proceeds received by the Fronting Lender from such conversion to U.S. Dollars of such Applicable Margin portion (other than any such proceeds payable for the account of any Delinquent Lender, which proceeds shall be retained by the Fronting Lender for its own account); provided, however, that with respect to each Lender which has funded the purchase of participating interests in the extensions of credit on account of which such interest was paid hereunder, the Fronting Lender shall instead pay to the Agent, for the account of such Lender which has so funded such purchase, the amount equal to such Lender's Applicable Percentage of such interest payment. Such amount shall be payable to the Agent, in the currency of such interest payment or from a conversion of such currency to U.S. Dollars, as determined by each Lender, on the date upon which the Fronting Lender receives the interest payment (or, as applicable, the proceeds of such conversion).
Sample 1
APPLICATION OF INTEREST PAYMENTS. As promptly as is practicable following each date upon which Administrative Agent or European Administrative Agent receives a payment of interest under this Agreement on account of any Offshore Currency Rate Loans, such Agent shall distribute to the Fronting Lender the amount thereof that is allocable to the Offshore Currency Rate Loans held by the Fronting Lender. In consideration of the agreement of the Non-Offshore Currency Lenders to purchase participating interests in any Offshore Currency Rate Loans held by the Fronting Lender, the Fronting Lender shall, with respect to US Advances consisting of Offshore Currency Rate Loans, pay to the Administrative Agent, for the ratable accounts of each Non-Offshore Currency Lender that is a US Lender, a risk participation fee, in the currency of such interest payment or, if requested by each Non-Offshore Currency Lender that is a US Lender and agreed to by the Administrative Agent, in Dollars, in an amount equal to the portion of such interest payment which constitutes the LIBOR Rate Margin less 0.50% (other than any such proceeds payable for the account of any Defaulting Lender, which proceeds shall be retained by the Fronting Lender for its own account) and, with respect to European Advances consisting of Offshore Currency Rate Loans, pay to the European Administrative Agent, for the ratable accounts of each Non-Offshore Currency Lender that is a European Lender, a risk participation fee, in the currency of such interest payment or, if requested by each Non-Offshore Currency Lender and agreed to by the European Administrative Agent, in Dollars, in an amount equal to the portion of such interest payment which constitutes the LIBOR Rate Margin less 0.50% (other than any such proceeds payable for the account of any Defaulting Lender, which proceeds shall be retained by the Fronting Lender for its own account); provided, however, that with respect to each Non-Offshore Currency Lender which has funded the purchase of participating interests in the extensions of credit on account of which such interest was paid hereunder, the Fronting Lender shall instead pay to applicable Agent, for the account of such Non-Offshore Currency Lender which has so funded such purchase, the amount equal to such Lender’s Pro Rata Share of such interest payment. Such amount shall be payable to the applicable Agent, in the currency of such interest payment or from a conversion of such currency to Dollars, if requested by each Non-Offshore C...
Sample 1
APPLICATION OF INTEREST PAYMENTS. Interest and commissions payable by the Borrowers shall be paid as follows: (a) as to interest and commissions due with respect to UK Loans to the UK Lender, for the account of the UK Lender; (b) as to interest due with respect to Term Loans, to the Agent for the account of the Domestic Lenders in the proportion of their respective Domestic Commitment Percentages from time to time; and (c) as to interest due with respect to Revolving Credit Loans, to the Agent for the account of the Domestic Lenders in the proportion of their respective Domestic Commitment Percentages from time to time.
Sample 1
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Related to APPLICATION OF INTEREST PAYMENTS

  • Extension of Interest Payment Period The Company shall have the right, at any time and from time to time during the term of the Debentures so long as no Event of Default has occurred and is continuing, to defer payments of interest by extending the interest payment period of such Debentures for a period not exceeding 20 consecutive quarters (the "Extended Interest Payment Period"), during which Extended Interest Payment Period no interest shall be due and payable; provided that no Extended Interest Payment Period may extend beyond the Maturity Date or end on a date other than an Interest Payment Date. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 4.1, shall bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extended Interest Payment Period ("Compounded Interest"). At the end of the Extended Interest Payment Period, the Company shall calculate (and deliver such calculation to the Trustee) and pay all interest accrued and unpaid on the Debentures, including any Additional Interest and Compounded Interest (together, "Deferred Interest") that shall be payable to the holders of the Debentures in whose names the Debentures are registered in the Debenture Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment Period, the Company may further extend such period so long as no Event of Default has occurred and is continuing, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Debentures or end on a date other than an Interest Payment Date. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extended Interest Payment Period.

  • Interest Payments Unless otherwise specified on the face hereof, the Interest Payment Dates will be, in the case of a Floating Rate Note which resets: (1) daily, weekly or monthly—the fifteenth day of each calendar month or on the fifteenth day of March, June, September and December of each year, as specified on the face hereof; (2) quarterly—the fifteenth day of March, June, September and December of each year; (3) semi-annually—the fifteenth day of the two months of each year specified on the face hereof; and (4) annually—the fifteenth day of the month of each year as specified on the face hereof. In addition, the Maturity Date will also be an Interest Payment Date. If any Interest Payment Date other than the Maturity Date for this Floating Rate Note would otherwise be a day that is not a Business Day, such Interest Payment Date will be postponed to the next succeeding Business Day, except that in the case of a Floating Rate Note as to which LIBOR is an applicable Interest Rate Basis and that Business Day falls in the next succeeding calendar month, the particular Interest Payment Date will be the immediately preceding Business Day. If the Maturity Date of a Floating Rate Note falls on a day that is not a Business Day, the Trust will make the required payment of principal, premium, if any, and interest or other amounts on the next succeeding Business Day, and no additional interest will accrue in respect of the payment made on that next succeeding Business Day.

  • Interest Payment Frequency   Interest Payment Dates Monthly Fifteenth day of each calendar month, beginning in the first calendar month following the month this Note was issued. Quarterly Fifteenth day of every third calendar month, beginning in the third calendar month following the month this Note was issued. Semi-annual Fifteenth day of every sixth calendar month, beginning in the sixth calendar month following the month this Note was issued. Annual Fifteenth day of every twelfth calendar month, beginning in the twelfth calendar month following the month this Note was issued.

  • Interest Payment For each Interest Payment Date the amount of interest due with respect to the Class A(2019-2) Notes shall be an amount equal to (i) (A) a fraction, the numerator of which is the actual number of days in the related Interest Accrual Period and the denominator of which is 360, times

  • Deferrals of Interest Payment Dates (a) So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Security, to defer the payment of interest on the Securities for a period of up to twenty (20) consecutive quarterly interest payment periods (each such period, an “Extension Period”), during which Extension Period(s), the Company shall have the right to make no payments or partial payments of interest on any Interest Payment Date (except any Additional Tax Sums that otherwise may be due and payable). No Extension Period shall end on a date other than an Interest Payment Date and no Extension Period shall extend beyond the Stated Maturity of the principal of the Securities. No interest shall be due and payable during an Extension Period, except at the end thereof, but each installment of interest that would otherwise have been due and payable during such Extension Period shall bear Additional Interest (to the extent payment of such interest would be legally enforceable) at a variable rate per annum, reset quarterly, equal to LIBOR plus 2.65%, compounded quarterly, from the dates on which amounts would have otherwise been due and payable until paid or until funds for the payment thereof have been made available for payment. At the end of any such Extension Period, the Company shall pay all interest then accrued and unpaid on the Securities together with such Additional Interest. Prior to the termination of any such Extension Period, the Company may extend such Extension Period and further defer the payment of interest; provided, that (i) all such previous and further extensions comprising such Extension Period do not exceed twenty (20) quarterly interest payment periods, (ii) no Extension Period shall end on a date other than an Interest Payment Date and (iii) no Extension Period shall extend beyond the Stated Maturity of the principal of the Securities. Upon the termination of any such Extension Period and upon the payment of all accrued and unpaid interest and any Additional Interest then due on any Interest Payment Date, the Company may elect to begin a new Extension Period; provided, that (i) such Extension Period does not exceed twenty (20) quarterly interest payment periods, (ii) no Extension Period shall end on a date other than an Interest Payment Date and (iii) no Extension Period shall extend beyond the Stated Maturity of the principal of the Securities. The Company shall give the Holders of the Securities and the Trustee written notice of its election to begin any such Extension Period at least one Business Day prior to the next succeeding Interest Payment Date on which interest on the Securities would be payable but for such deferral or, so long as any Securities are held by the Trust, at least one Business Day prior to the earlier of (i) the next succeeding date on which Distributions on the Preferred Securities of such Trust would be payable but for such deferral and (ii) the date on which the Property Trustee of such Trust is required to give notice to any securities exchange or other applicable self-regulatory organization or to holders of such Preferred Securities of the record date for the payment of such Distributions. (b) In connection with any such Extension Period, the Company shall be subject to the restrictions set forth in Section 10.6(a).

  • Interest Payment Dates Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and on the Termination Date; provided that (i) interest accrued pursuant to Section 3.02(c) shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than an optional prepayment of an ABR Loan prior to the Termination Date), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment, and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion.

  • Interest Payment and Computation Interest on each Base Rate Loan shall be due and payable in arrears on the last Business Day of each calendar quarter commencing December 31, 2011; and interest on each LIBOR Rate Loan shall be due and payable on the last day of each Interest Period applicable thereto, and if such Interest Period extends over three (3) months, at the end of each three (3) month interval during such Interest Period. All computations of interest for Base Rate Loans when the Base Rate is determined by the Prime Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest provided hereunder shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365/366-day year).

  • Selection of Interest Periods (a) A Borrower may select an Interest Period for a Loan in the Utilisation Request for that Loan. (b) Subject to this Clause 9, a Borrower may select an Interest Period of one (1), two (2), three (3) or six (6) months or any other period agreed between the Borrower and the Agent (acting on the instructions of all the Lenders). (c) An Interest Period for a Loan shall not extend beyond the Termination Date. (d) Each Interest Period for a Loan shall start on the Utilisation Date. (e) A Loan has one Interest Period only.

  • Interest and Interest Payment Dates In lieu of having interest charged at the rate based upon the Base Rate, Borrowers shall have the option, subject to Section 2.12(b) below (the “LIBOR Option”) to have interest on all or a portion of the Revolving Loans be charged (whether at the time when made (unless otherwise provided herein), upon conversion from a Base Rate Loan to a LIBOR Rate Loan, or upon continuation of a LIBOR Rate Loan as a LIBOR Rate Loan) at a rate of interest based upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable on the earliest of (i) the last day of the Interest Period applicable thereto; provided, that subject to the following clauses (ii) and (iii), in the case of any Interest Period greater than three months in duration, interest shall be payable at three month intervals after the commencement of the applicable Interest Period and on the last day of such Interest Period), (ii) the date on which all or any portion of the Obligations are accelerated pursuant to the terms hereof, or (iii) the date on which this Agreement is terminated pursuant to the terms hereof. On the last day of each applicable Interest Period, unless Borrowers have properly exercised the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the rate of interest then applicable to Base Rate Loans of the same type hereunder. At any time that an Event of Default has occurred and is continuing, at the written election of Agent or the Required Lenders, Borrowers no longer shall have the option to request that Revolving Loans bear interest at a rate based upon the LIBOR Rate.

  • Determination of Interest Periods The length of each Interest Period shall be as requested by the Borrowers under clause 3.2 but so that: 3.3.1 the first Interest Period in respect of each Tranche shall start on the Drawdown Date in respect of the first Advance in respect of that Tranche, and each subsequent Interest Period shall start on the last day of the previous Interest Period; 3.3.2 the first Interest Period in respect of each subsequent Advance shall commence on its Drawdown Date and terminate simultaneously with the Interest Period which is then current for the Tranche under which the Advance is made available; 3.3.3 if any Interest Period would otherwise overrun a Repayment Date, then, in the case of the last Repayment Date, such Interest Period shall end on such Repayment Date, and in the case of any other Repayment Date the relevant Tranche shall be divided into parts so that there is one part in the amount of the repayment instalment due on each Repayment Date falling in that Interest Period and having an Interest Period ending on the relevant Repayment Date and another part consisting of the balance of the relevant Tranche having an Interest Period ascertained in accordance with the other provisions of this clause 3; and 3.3.4 if the Borrowers fail to specify the length of an Interest Period in accordance with the provisions of clause 3.2 and this clause 3.3 such Interest Period shall last three months or such other period as complies with this clause 3.3.

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