Common use of Change in Rate; Past Due Amounts; Calculations of Interest Clause in Contracts

Change in Rate; Past Due Amounts; Calculations of Interest. Each change in the rate of interest for any Borrowing consisting of Reference Rate Loans shall become effective, without prior notice to the Credit Parties, automatically as of the opening of business of the Administrative Agent on the date of said change. Interest on the unpaid principal balance of (i) each Eurocurrency Rate Loan (other than Eurocurrency Rate Loans denominated Australian Dollars) and each RFR Loan (other than RFR Loans denominated in Sterling) and each Reference Rate Loan bearing interest based off the Eurocurrency Rate shall be calculated on the basis of the actual days elapsed in a year consisting of 360 days and (ii) each Reference Rate Loan (other than when the Reference Rate is calculated based off the Eurocurrency Rate) and each Eurocurrency Rate Loan denominated in Australian Dollars and each RFR Loan denominated in Sterling shall be calculated on the basis of the actual days elapsed in a year consisting of 365 days (or 366 days, as the case may be). If any principal of, or interest on, the Obligations is not paid when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise), then (in lieu of the interest rate provided in Section 2.6(a) above) such overdue amount shall bear interest at the Default Rate until such amount is paid.

Change in Rate; Past Due Amounts; Calculations of Interest. Each change in the rate of interest for any Borrowing consisting of Reference Rate Loans shall become effective, without prior notice to the Credit Parties, automatically as of the opening of business of the Administrative Agent on the date of said change. Interest on the unpaid principal balance of (i) each Eurocurrency Rate LIBOR Loan (other than Eurocurrency Rate Loans denominated Australian Dollars) and each RFR Loan (other than RFR Loans denominated in Sterling) and each Reference Rate Loan bearing interest based off the Eurocurrency Rate shall be calculated on the basis of the actual days elapsed in a year consisting of 360 days and (ii) each Reference Rate Loan (other than when the Reference Rate is calculated based off the Eurocurrency Rate) and each Eurocurrency Rate Loan provided that LIBOR Loans denominated in Pounds Sterling or Australian Dollars and each RFR Loan denominated in Sterling shall be calculated on the basis of the actual days elapsed in a year consisting of 365 days (or 366 days, as the case may be)) and (ii) each Reference Rate Loan (other than when the Reference Rate is calculated based off LIBOR) shall be calculated on the basis of the actual days elapsed in a year consisting of 365 days (or 366, as the case may be). If any principal of, or interest on, the Obligations is not paid when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise), then (in lieu of the interest rate provided in Section 2.6(a) or (b) above, as applicable) such overdue amount shall bear interest at the Default Rate until such amount is paid. If any fee payable under this Credit Agreement or any Fee Letter is not paid when due, such overdue amount shall bear interest at a per annum rate equal to the Default Rate until such amount is paid.

Change in Rate; Past Due Amounts; Calculations of Interest. Each change in the rate of interest for any Borrowing consisting of Reference Rate Loans shall become effective, without prior notice to the Credit Parties, automatically as of the opening of business of the Administrative Agent on the date of said change. Interest on the unpaid principal balance of (i) each Eurocurrency Rate Loan (other than Eurocurrency Rate Loans denominated Australian Dollars) and each RFR Loan (other than RFR Loans denominated in Sterling) and each Reference Rate Loan bearing interest based off the Eurocurrency Rate shall be calculated on the basis of the actual days elapsed in a year consisting of 360 days and (ii) each Reference Rate Loan (other than when the Reference Rate is calculated based off the Eurocurrency Rate) and each Eurocurrency Rate Loan denominated in Australian Dollars and each RFR Loan denominated in Sterling shall be calculated on the basis of the actual days elapsed in a year consisting of 365 days (or 366 days, as the case may be). If any principal of, or interest on, the Obligations is not paid when due (whether at stated maturity, by acceleration, by mandatory USActive 58236919.3 -46- prepayment or otherwise), then (in lieu of the interest rate provided in Section 2.6(a) above) such overdue amount shall bear interest at the Default Rate until such amount is paid.