Calculation and Payment of Interest Sample Clauses

Calculation and Payment of Interest. (a) Interest on the outstanding principal amount from time to time of each Prime Rate Loan and Base Rate Canada Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 365 or 366, as the case may be. (b) Interest on the outstanding principal amount from time to time of each LIBOR Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 360. (c) Accrued interest shall be paid, (i) in the case of interest on Prime Rate Loans and Base Rate Canada Loans, in arrears monthly on the 22nd day of each calendar month; and (ii) in the case of interest on LIBOR Loans, on the last day of the applicable Interest Period; provided that, in the case of Interest Periods of a duration longer than three months, accrued interest shall be paid no less frequently than every three months from the first day of such Interest Period during the term of such Interest Period and on the date on which such LIBOR Loans are otherwise required to be repaid.

Calculation and Payment of Interest. (a) Interest on the outstanding principal amount from time to time of each Term Benchmark Loan and on overdue interest thereon shall accrue from day to day from and including the date on which credit is obtained by way of such Loan or on which such overdue interest is due, as the case may be, to but excluding the date on which such Loan or overdue interest, as the case may be, is repaid in full (both before and after maturity and judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 360. (b) Interest on the outstanding principal amount from time to time of each Base Rate Loan and on overdue interest thereon shall accrue from day to day from and including the date on which credit is obtained by way of such Loan or on which such overdue interest is due, as the case may be, to but excluding the date on which such Loan or overdue interest, as the case may be, is repaid in full (both before and after maturity and judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 365 or, in the case of a leap year, 366. Where the Base Rate is being computed, to the extent the Federal Funds Effective Rate applies and is calculated on the basis of a year that contains fewer days than the actual number of days in the calendar year of calculation (such as a deemed year of 360 days), the provisions of Section 7.3(a) shall be applicable so that, in the result, all computations of interest for Base Rate Loans shall be made on the basis of a year of 360 days and actual days elapsed. (c) Accrued interest shall be paid, (i) in the case of interest on Base Rate Loans, monthly in arrears on the last day of each calendar month; and (ii) in the case of interest on Term Benchmark Loans, in arrears on the last day of the applicable Interest Period but, in any event, at least every 3 months.

Calculation and Payment of Interest. Interest on the principal balance of this Note outstanding from time to time shall accrue at the rate of eleven and one-half percent (11 1/2%) per annum computed on the basis of a 365 or 366-day year, as appropriate, for the actual number of days elapsed, commencing on the date hereof (and on the date of issuance with respect to any PIK Note). Such interest shall be payable semi- annually in arrears, beginning on January 24, 2001 and thereafter on each July 24/th/ and January 24/th/ (each, an "Interest Payment Date") through and including July 24, 2004 by the issuance of a promissory note in a principal amount equal to interest accrued but not otherwise paid (by the issuance of a PIK Note or otherwise) on the principal amount hereof through and including such Interest Payment Date and otherwise having such terms and provisions that are the same as the terms and provisions of this Note (each such promissory note a "PIK Note"), and (without limiting the Payor's obligation to issue in each such instance, a PIK Note) Payor shall be deemed to have issued a PIK Note to Payee for any such interest regardless of whether Payor shall have actually delivered any such PIK Note to Payee. On and after January 24, 2005, payment of such interest shall be made semi-annually in arrears on each Interest Payment Date until the Maturity Date (as defined below) and on the Maturity Date in cash; provided, however, that such payment shall instead be made by the issuance of a -------- ------- PIK Note for such interest, and (without limiting the Payor's obligation to issue in each such instance a PIK Note) Payor shall be deemed to have issued a PIK Note to Payee for any such interest regardless of whether Payor shall have actually delivered any such PIK Note, if (a) a payment default under the Credit Agreement or the other Bank Debt Documents has occurred and is continuing, (b) the Leverage Ratio for the most recently ended fiscal quarter is greater than 2.0:1 or (c) after giving effect to such payment, the ratio of (I) Consolidated Total Debt plus the aggregate principal amount of outstanding Notes to (II) Consolidated Adjusted EBITDA for the four Fiscal Quarter period then most recently ended would be greater than 3.0:1. Payee, by acceptance hereof, acknowledges (i) that Payor is contractually bound hereunder to pay interest in cash only if the conditions specified in Sections 1.1 (a) or (b) or (c) above are not met, (ii) that any interest not paid in cash shall be paid in the f...

Calculation and Payment of Interest. (a) Interest on the outstanding principal amount from time to time of each Base Rate Canada Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 365 or 366, as the case may be. (b) Accrued interest shall be paid, (i) in the case of interest on Base Rate Canada Loans, monthly in arrears on the 22nd day of each calendar month; and (ii) in the case of interest on LIBOR Loans, on the last day of the applicable Interest Period; provided that, in the case of Interest Periods of a duration longer than three months, accrued interest shall be paid no less frequently than every three months from the first day of such Interest Period during the term of such Interest Period and on the date on which such LIBOR Loans are otherwise required to be repaid.

Calculation and Payment of Interest. 6.4.1 At the beginning of each Interest Period, subject to clause 6.5 (Determination of Applicable Margin), the Facility Agent shall notify the Lenders and the relevant Obligor of the duration of the Interest Period and the rate and amount of interest payable for the Interest Period (but in the case of any default interest calculated under Clause 6.3 (Default interest), any such notification need not be made more frequently than weekly). Each notification shall set out in reasonable detail the basis of computation of the amount of interest payable. 6.4.2 Interest due from an Obligor under this Agreement shall: a. accrue from day to day at the rate calculated under this Clause 6; b. except as otherwise provided in this Agreement, be paid by the relevant Obligor to the Facility Agent (for the account of the Lenders or the Facility Agent, as the case may be) in arrears on the last day of each Interest Period, provided that for any Interest Period which is longer than three (3) months, the relevant Obligor shall also pay interest every (three) 3 months in arrears during that Interest Period; and c. be calculated on the basis of the actual number of days elapsed and a 360 day year (a 365 day year for GBP) or, if different, such number of days as is market practice.

Calculation and Payment of Interest. (a) Interest on the outstanding principal amount from time to time of each Loan and on overdue interest thereon shall accrue from day to day from and including the date on which credit is obtained by way of such Loan or on which such overdue interest is due, as the case may be, to but excluding the date on which such Loan or overdue interest, as the case may be, is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 360, in the case of a LIBOR Loan, or 365 days (or 366, in the case of a leap year) in the case of a Base Rate Loan. (b) Accrued interest shall be paid: (i) in the case of interest on Base Rate Loans, monthly in arrears on the last day of each month; and (ii) in the case of interest on LIBOR Loans, on the last day of the applicable Interest Period and the Maturity Date; provided that, in the case of Interest Periods of a duration longer than three months, accrued interest shall be paid no less frequently than every three months from the first day of such Interest Period during the term of such Interest Period and on the date on which such LIBOR Loans are otherwise required to be repaid, including, for greater certainty, the Maturity Date.

Calculation and Payment of Interest. (a) All Obligations hereunder shall bear interest at the Contract Rate set forth on the Fee Schedule annexed hereto; except, that, (i) at any time that an Over-Formula Amount exists, all Obligations hereunder shall bear interest at the Over-Formula Rate set forth on the Fee Schedule annexed hereto, and (ii) from the occurrence of an Event of Default (as defined in Section 8.2 below), and at all times during its continuance, all Obligations hereunder shall bear interest at the Default Rate set forth on the Fee Schedule annexed hereto. Interest hereunder is payable daily and shall be charged to Client’s account daily as an Advance. All interest due and payable hereunder by Client shall be calculated on the basis of a 360 day year, for actual days elapsed. The Contract Rate shall be increased or decreased, as the case may be, as the LIBOR Rate is increased or decreased and to the extent thereof; each such change to be effective as of the Business Day on which the related change in such LIBOR Rate occurs. In no event shall the Contract Rate be less than the Minimum Contract Rate as set forth on the Fee Schedule annexed hereto, nor shall the Contract Rate be in excess of the maximum interest rate permitted under the laws of the State of New York; provided, however, that, if Factor receives payment of interest in excess of such highest lawful rate, Client agrees that Client’s sole remedy is to seek repayment of such excess, and Client irrevocably waives any and all other rights and remedies which may be available to Client under law or in equity. (b) If Client purchases goods or services from another factored client of Factor, and Client fails to timely make payment to Factor of the invoices in connection with such purchases, Factor may charge to Client’s account as an Advance a late interest charge, at Factor’s then late interest rate, with respect to such past due invoices.

Calculation and Payment of Interest. Tranche A Committed Loans shall bear interest from the date disbursed to but not including the date of payment calculated on the principal amount of Tranche A Committed Loans outstanding from time to time hereunder at a per annum rate equal to, at the option of and as selected by the Company from time to time (subject to the provisions of Paragraphs (6(c), 6(d) and 6(e) below), the Applicable Eurodollar Rate for the applicable Interest Period or the daily average Applicable Effective Fed Funds Rate during the applicable interest computation period, said interest to be payable as provided more particularly in Paragraph 6(b) below.

Calculation and Payment of Interest. 3.1.1 The Borrower will pay interest on each Loan outstanding at any time at a rate per annum of 10%. Interest will accrue and be calculated, but not compounded, daily on the principal amount of each Loan on the basis of the actual number of days each Loan is outstanding in a year of 365 or 366 days, as applicable, and will be compounded and payable monthly in arrears on each Interest Payment Date. To the maximum extent permitted by Applicable Law, the Borrower will pay interest on all overdue amounts owing by the Borrower under this Agreement, including any overdue interest payments, from the date each of those amounts is due until the date each of those amounts is paid in full. That interest will be calculated daily, compounded monthly and payable on demand of the Lender at a rate per annum of 12%.

Calculation and Payment of Interest. Interest on each LIBOR Loan shall be calculated on the basis of a year of 360 days for the actual number of days elapsed for the applicable interest period. Interest on the Loans shall be paid in immediately available funds at the Principal Office of the Lender. Interest shall be calculated daily and payable monthly, in arrears, in accordance with the terms of the Construction Note.