CAF Advance Payments. (a) The applicable Borrower shall repay to the Administrative Agent, for the account of each CAF Advance Lender which has made a CAF Advance to it, on the applicable CAF Advance Maturity Date the then unpaid principal amount of such CAF Advance. The Borrowers shall not have the right to prepay any principal amount of any CAF Advance. (b) The applicable Borrower shall pay interest on the unpaid principal amount of each CAF Advance to it from the date of the Borrowing to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date. (c) If all or a portion of the principal amount of any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 1% above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% above the Base Rate, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
Appears in 16 contracts
Samples: Revolving Credit and Competitive Advance Facility Agreement (El Paso Energy Corp/De), 364 Day Revolving Credit and Competitive Advance Facility Agreement (El Paso Tennessee Pipeline Co), Revolving Credit and Competitive Advance Facility Agreement (El Paso Natural Gas Co)
CAF Advance Payments. (a) The applicable Borrower shall repay pay to the Administrative Agent, for the account of each CAF Advance Lender Revolving Bank which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date the then unpaid principal amount of such CAF Advance. The Borrowers Borrower shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Revolving Bank to which such CAF Advance is owed.
(b) The applicable Borrower shall pay interest on the unpaid principal amount of each CAF Advance to it from the date of the Borrowing Date to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a (i) 360-day year for actual days elapsed, in the case of LIBO Rate CAF Advances and (ii) 365/6-day year for actual days elapsed, the case of Fixed Rate CAF Advances), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Lender Revolving Bank under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% above the Base Rate, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
Appears in 3 contracts
Samples: 364 Day Credit Agreement (Computer Associates International Inc), Credit Agreement (Computer Associates International Inc), 364 Day Credit Agreement (Computer Associates International Inc)
CAF Advance Payments. (a) The applicable Borrower shall repay hereby unconditionally promises to pay to the Administrative Agent, for the account of each CAF Advance Lender which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date Date, the then unpaid principal amount of such CAF Advance. The Borrowers Borrower shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Lender to which such CAF Advance is owed.
(b) The applicable Borrower shall hereby further agrees to pay interest on the unpaid principal amount of each CAF Advance to it from the date Borrowing Date of the Borrowing such CAF Advance to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% per annum above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% per annum above the Base RateABR, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (Mastercard Inc), Credit Agreement (Mastercard Inc)
CAF Advance Payments. (a) The applicable Borrower Company shall repay pay to the Administrative Agent, for the account of each CAF Advance Lender Bank which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date the then unpaid principal amount of such CAF Advance. The Borrowers Company shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Bank to which such CAF Advance is owed.
(b) The applicable Borrower Company shall pay interest on the unpaid principal amount of each CAF Advance to it from the date of the Borrowing Date to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower Company in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Lender Bank under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% above the Alternate Base Rate, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (Hca the Healthcare Co), Credit Agreement (Hca Inc/Tn)
CAF Advance Payments. (a) The applicable Borrower shall repay hereby unconditionally promises to pay to the Managing Administrative Agent, for the account of each CAF Advance Lender which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date Date, the then unpaid principal amount of such CAF Advance. The Borrowers Borrower shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Lender to which such CAF Advance is owed.
(b) The applicable Borrower shall hereby further agrees to pay interest on the unpaid principal amount of each CAF Advance to it from the date Borrowing Date of the Borrowing such CAF Advance to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the overdue amount of such overdue principal amount CAF Advance shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% per annum above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% per annum above the Base RateABR, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (Mastercard Inc), Credit Agreement (Mastercard Inc)
CAF Advance Payments. (a) The applicable Revolving Credit Borrower in respect of each CAF Advance shall repay pay to the Administrative Agent, for the account of each CAF Advance the Revolving Credit Lender which has made a such CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date the then unpaid principal amount of such CAF Advance. The Revolving Credit Borrowers shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Revolving Credit Lender to which such CAF Advance is owed.
(b) The applicable Revolving Credit Borrower in respect of each CAF Advance shall pay interest on the unpaid principal amount of each such CAF Advance made to it such Revolving Credit Borrower from the date of the Borrowing Date to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Revolving Credit Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Revolving Credit Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% above the Base RateABR, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
Appears in 1 contract
CAF Advance Payments. (a) The applicable Borrower shall repay pay to the Administrative Agent, for the account of each CAF Advance Lender which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date of such CAF Advance (or on such earlier date on which such CAF Advance becomes due and payable pursuant to Section 9) the then unpaid principal amount of such CAF Advance. The Borrowers Borrower shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Lender to which such CAF Advance is owed.
(b) The applicable Borrower shall pay to the Administrative Agent for the account of each Lender which has made a CAF Advance interest on the unpaid principal amount of each such CAF Advance to it from the date of the Borrowing Date with respect thereto to the applicable CAF Advance Maturity Date of such CAF Advance at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter after such stated CAF Advance Maturity Date at a rate per annum which is 2% above the Base RateABR, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (csubsection 3.16(c) shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (Kmart Corp)
CAF Advance Payments. (a) The applicable Borrower shall repay pay to the Administrative Agent, for the account of each CAF Advance Lender which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date of such CAF Advance (or on such earlier date on which such CAF Advance becomes due and payable pursuant to Section 8) the then unpaid principal amount of such CAF Advance. The Borrowers Borrower shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Lender to which such CAF Advance is owed.
(b) The applicable Borrower shall pay to the Administrative Agent for the account of each Lender which has made a CAF Advance interest on the unpaid principal amount of each such CAF Advance to it from the date of the Borrowing Date with respect thereto to the applicable CAF Advance Maturity Date of such CAF Advance at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter after such stated CAF Advance Maturity Date at a rate per annum which is 2% above the Base RateABR, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (csubsection 2.16(c) shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (Kmart Corp)
CAF Advance Payments. (a) The applicable Borrower shall repay hereby unconditionally promises to pay to the Administrative Agent, for the account of each CAF Advance Lender which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date Date, the then unpaid principal amount of such CAF Advance. The Borrowers Borrower shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Lender to which such CAF Advance is owed.
(b) The applicable Borrower shall hereby further agrees to pay interest on the unpaid principal amount of each CAF Advance to it from the date Borrowing Date of the Borrowing such CAF Advance to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by CREDIT AGREEMENT the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% per annum above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% per annum above the Base RateABR, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (Mastercard Inc)
CAF Advance Payments. (a) The applicable Borrower shall repay pay to the Administrative Agent, for the account of each CAF Advance the Revolving Credit Lender which has made a such CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date the then unpaid principal amount of such CAF Advance. The Borrowers Borrower shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Revolving Credit Lender to which such CAF Advance is owed.
(b) The applicable Borrower in respect of each CAF Advance shall pay interest on the unpaid principal amount of each such CAF Advance made to it the Borrower from the date of the Borrowing Date to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Revolving Credit Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% above the Base RateABR, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
(d) Each CAF Advance shall bear interest for the period from and including the Borrowing Date of such CAF Advance on the unpaid principal amount thereof from time to time outstanding at the applicable rate per annum determined as provided in, and such interest shall be payable as specified in, subsection 2.6(b).
Appears in 1 contract
CAF Advance Payments. (a) The applicable Borrower shall repay pay to the ------------------------- Administrative Agent, for the account of each CAF Advance Lender which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date the then unpaid principal amount of such CAF Advance. The Borrowers Borrower shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Lender to which such CAF Advance is owed.
(b) The applicable Borrower shall pay interest on the unpaid principal amount of each CAF Advance to it from the date of the Borrowing Date to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-360- day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% above the Base RateABR, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (Agl Resources Inc)
CAF Advance Payments. (a) The applicable Borrower shall repay pay to the Administrative Agent, for the account of each CAF Advance Lender which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date the then unpaid principal amount of such CAF Advance. The Borrowers Borrower shall not have the right to prepay any principal amount of any CAF Advance.
(b) Advance without the consent of the Lender to which such CAF Advance is owed. The applicable Borrower shall pay interest on the unpaid principal amount of each CAF Advance to it from the date of the Borrowing Date to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) . If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% above the Base RateABR, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (Agl Resources Inc)
CAF Advance Payments. (a) The applicable Borrower shall repay pay to the Administrative -------------------- Agent, for the account of each CAF Advance Lender which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date the then unpaid principal amount of such CAF Advance. The Borrowers Borrower shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Lender to which such CAF Advance is owed.
(b) The applicable Borrower shall pay interest on the unpaid principal amount of each CAF Advance to it from the date of the Borrowing Date to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% above the Base RateABR, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (CDW Holding Corp)
CAF Advance Payments. (a) The applicable Borrower shall repay hereby unconditionally promises to pay to the Administrative Agent, for the account of each CAF Advance Lender which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date Date, the then unpaid principal amount of such CAF Advance. The Borrowers Borrower shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Lender to which such CAF Advance is owed.
(b) The applicable Borrower shall hereby further agrees to pay interest on the unpaid principal amount of each CAF Advance to it from the date Borrowing Date of the Borrowing such CAF Advance to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% per annum above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% per annum above the Base RateABR, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.. CREDIT AGREEMENT
Appears in 1 contract
Samples: Credit Agreement (Mastercard Inc)
CAF Advance Payments. (a) The applicable Borrower shall repay to the Administrative Agent, for the account of each CAF Advance Lender which has made a CAF Advance to it, on the applicable CAF Advance Maturity Date the then unpaid principal amount of such CAF Advance. The Borrowers shall not have the right to prepay any principal amount of any CAF Advance.
(b) The applicable Borrower shall pay interest on the unpaid principal amount of each CAF Advance to it from the date of the Borrowing to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all or a portion of the principal amount of any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 1% above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% above the Base Rate, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.%
Appears in 1 contract
Samples: Revolving Credit and Competitive Advance Facility Agreement (El Paso Natural Gas Co)
CAF Advance Payments. (a) The applicable Borrower shall repay hereby unconditionally promises to pay to the Administrative Agent, for the account of each CAF Advance Lender which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date Date, the then unpaid principal amount of such CAF Advance. The Borrowers Borrower shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Lender to which such CAF Advance is owed.
(b) The applicable Borrower shall hereby further agrees to pay interest on the unpaid principal amount of each CAF Advance to it from the date Borrowing Date of the Borrowing such CAF Advance to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 12% per annum above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% per annum above the Base RateABR, in each case until paid in full fall (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (Mastercard Inc)
CAF Advance Payments. (a) The applicable Borrower Company shall repay pay to the Administrative Agent, for the account of each CAF Advance Lender Bank which has made a CAF Advance to itAdvance, on the applicable CAF Advance Maturity Date the then unpaid principal amount of such CAF Advance. The Borrowers Company shall not have the right to prepay any principal amount of any CAF AdvanceAdvance without the consent of the Bank to which such CAF Advance is owed.
(b) The applicable Borrower Company shall pay interest on the unpaid principal amount of each CAF Advance to it from the date of the CAF Borrowing Date to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by the applicable Borrower Company in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date.
(c) If all any principal of, or a portion of the principal amount of interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount CAF Advance shall, without limiting any rights of any Lender Bank under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 1% above the rate which would otherwise be applicable pursuant to such CAF Advance until the stated maturity date CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 21% above the Base RateABR, in each case until paid in full (as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand.
Appears in 1 contract
Samples: 364 Day/1 Year Term Out Credit Agreement (Visteon Corp)