Changes in Interest Rate. (a) If at any time a Below Investment Grade Event occurs, then:
(i) as of the date of the occurrence of the Below Investment Grade Event to and until the date on which such Below Investment Grade Event is no longer continuing (as evidenced by the receipt and delivery to the holders of the Notes of any Rating necessary to cure such Below Investment Grade Event), the Notes shall bear interest at the Adjusted Interest Rate; and
(ii) the Company shall promptly, and in any event within twenty (20) Business Days after a Below Investment Grade Event has occurred, notify the holders of the Notes in writing, sent in the manner provided in Section 18, that a Below Investment Grade Event has occurred, which written notice shall be accompanied by evidence satisfactory to the Required Holders to such effect and confirming the effective date of the Below Investment Grade Event and that the Adjusted Interest Rate will be payable in respect of the Notes in consequence thereof.
(b) The fees and expenses of any NRSRO and all other costs incurred in connection with obtaining, affirming or appealing a Rating pursuant to this Section 1.2 shall be borne solely by the Company.
(c) As used herein, “Adjusted Interest Rate” means the interest rate per annum which is 1.00% above the interest rate of the Notes determined pursuant to Section 8.9.
Changes in Interest Rate. (a) If at any time a Below Investment Grade Event occurs, then:
(i) as of the date of the occurrence of a Below Investment Grade Event to and until the date on which such Below Investment Grade Event is no longer continuing (as evidenced by the receipt and delivery to the holders of the Notes of any Debt Rating necessary to cure such Below Investment Grade Event), the Notes shall bear interest at the Below Investment Grade Adjusted Interest Rate; and
(ii) the Company shall promptly, and in any event within twenty (20) Business Days after a Below Investment Grade Event has occurred, notify the holders of the Notes in writing, sent in the manner provided in Section 18, that a Below Investment Grade Event has occurred and confirming the effective date of the Below Investment Grade Event and that the Below Investment Grade Adjusted Interest Rate will accrue from the date on which such Below Investment Grade Event shall have occurred and will be payable on each subsequent interest payment date until such Below Investment Grade Event is no longer continuing in consequence thereof. Gladstone Commercial Limited Partnership Note Purchase Agreement
(b) The reasonable, documented fees and expenses of any NRSRO and all other costs incurred in connection with obtaining, affirming or appealing a Debt Rating pursuant to this Section 1.2 shall be borne solely by the Company.
(c) If at any time a Surge Period occurs, then:
(i) as of the date of the commencement of a Surge Period and until the date on which such Surge Period is no longer continuing, the Notes shall bear interest at the Surge Period Adjusted Interest Rate; and
(ii) prior to the commencement of a Surge Period, the Company shall notify the holders of the Notes in writing, sent in the manner provided in Section 18, confirming the effective date of the Surge Period and that the Surge Period Adjusted Interest Rate will accrue from such effective date and will be payable on each subsequent interest payment date until such Surge Period is no longer continuing, in consequence thereof.
(d) Notwithstanding anything to the contrary, if a Below Investment Grade Event and a Surge Period are both continuing at the same time, then as of the date on which both such events first simultaneously existed and are continuing until the earliest date on which either or both events is no longer continuing, the Notes shall bear interest at an interest rate per annum which is 1.25% above the stated rate of the Notes (or the Default Ra...
Changes in Interest Rate. (a) If at any time a Below Investment Grade Event occurs, then:
(i) as of the date of the occurrence of the Below Investment Grade Event to and until the date on which such Below Investment Grade Event is no longer continuing (as evidenced by the receipt and delivery to the holders of the Notes of any Rating necessary to cure such Below Investment Grade Event), the Notes shall bear interest at the Adjusted Interest Rate; and
(ii) the Company shall promptly, and in any event within twenty (20) Business Days after a Below Investment Grade Event has occurred, notify the holders of the Notes in writing, sent in the manner provided in Section 18, that a Below Investment Grade Event has occurred, which written notice shall be accompanied by evidence satisfactory to the Required Holders to such effect and confirming the effective date of the Below Investment Grade Event and that the Adjusted Interest Rate will be payable in respect of the Notes in consequence thereof. WhiteHorse Finance, Inc. Note Purchase Agreement
Changes in Interest Rate. (a) If at any time a Below Investment Grade Event occurs, then as of such date to and until the date such Below Investment Grade Event no longer exists, the Notes shall bear interest at the Adjusted Interest Rate; provided that during the continuance of an Event of Default, Notes shall bear interest at the Default Rate as stated in the Note.
Changes in Interest Rate. Each Alternate Base Rate Loan shall bear interest, at the Alternate Base Rate, on the outstanding principal amount thereof, for each day from and including the date such Loan is made or is automatically converted from a Eurodollar Loan pursuant to Section 2.6 to but excluding the date it is paid or is converted into a Eurodollar Loan pursuant to Section 2.6. Changes in the Alternate Base Rate will take effect simultaneously with each change in the Alternate Base Rate. Each Eurodollar Loan shall bear interest on the outstanding principal amount thereof for each day during the Interest Period applicable thereto from and including the first day of such Interest Period to (but not including) the last day of such Interest Period at the Eurodollar Rate applicable thereto. No Interest Period may end after the Termination Date.
Changes in Interest Rate. The interest rate set forth above is based upon the Bank’s review of your financial condition (and that of any guarantors) and the deposit relationship with the Bank. The Bank may hereafter change your interest rate on thirty days written notice to you. Any change will be effective immediately and will apply to all amounts then outstanding and any amounts incurred thereafter.
Changes in Interest Rate. Each Floating Rate Advance will bear interest on the outstanding principal amount thereof, for each day from and including the date such Advance is made or is automatically converted from a Eurodollar Advance into a Floating Rate Advance pursuant to Section 2.10, to but excluding the date it is paid or is converted into a Eurodollar Advance pursuant to Section 2.10 hereof, at a rate per annum equal to the Floating Rate for such day. Changes in the rate of interest on that portion of any Advance maintained as a Floating Rate Advance will take effect simultaneously with each change in the Alternate Base Rate. Each Eurodollar Advance will bear interest on the outstanding principal amount thereof from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined by the Administrative Agent as applicable to such Eurodollar Advance based upon Unit's selections under Sections 2.9 and 2.10 and otherwise in accordance with the terms hereof. No Interest Period may end after the Facility Termination Date.
Changes in Interest Rate. (a) If at any time a Rating Event occurs, then:
(i) as of the first day of the six-month Interest Period that begins following the date of the occurrence of the Rating Event, the Notes shall bear interest at an interest rate of 8.125% per annum (the “Adjusted Interest Rate”);
(ii) the Issuer shall promptly, and in any event within ten (10) Business Days after a Rating Event has occurred, notify the holders of the Notes in writing, sent in the manner provided in Section 19, that a Rating Event has occurred, which written notice shall be accompanied by evidence satisfactory to the Required Holders to such effect and confirming the effective date of the Rating Event and that the Adjusted Interest Rate will be payable in respect of the Notes in consequence thereof; and
(iii) the Issuer shall promptly notify the Paying Agent of any change in the interest rate based on any Rating change, which changes the Paying Agent shall have no duty to monitor.
(b) Notwithstanding the foregoing, in no circumstances will the annual interest rate payable on the Notes exceed 8.125% per annum due to changes in the Rating of the Notes or if the Notes cease to be rated by at least one NRSRO. In addition, the interest rate per annum payable on the Notes will revert to 7.125% per annum beginning on the first day of any six-month Interest Period, if, as of such day, the Notes have a Rating of “BBB-” or above by Xxxx-Xxxxx or its equivalent by any other NRSRO without giving effect to any credit watch. In no event will the annual interest rate payable on the Notes be less than 7.125%.
(c) Following the occurrence and during the continuance of an Event of Default, the Notes shall bear interest at the Default Rate.
Changes in Interest Rate. (a) If at any time a Below Investment Grade Event occurs, then as of such date to and until the date such Below Investment Grade Event no longer exists, the Notes shall bear interest at the Adjusted Interest Rate; provided that, the failure of the Company to receive and deliver to the holders of the Notes a rating pursuant to Section 9.10 shall be deemed a Below Investment Grade Event; provided, further, that, following the receipt and delivery to the holders of the Notes of each rating pursuant to Section 9.10 the Adjusted Interest Rate applicable thereafter shall be determined in accordance with such then current rating; provided further that during the continuance of an Event of Default, Notes shall bear interest at the Default Rate as stated in the Note. Artisan Partners Holdings LP Note Purchase Agreement
Changes in Interest Rate. (a) If at any time a Below Investment Grade Event occurs, then:
(i) as of the date of the occurrence of a Below Investment Grade Event to and until the date on which such Below Investment Grade Event is no longer continuing (as evidenced by the receipt and delivery to the holders of the Notes of any Rating necessary to cure such Below Investment Grade Event), the Notes shall bear interest at the Below Investment Grade Adjusted Interest Rate; and X. XXXX XXXXX OHA SELECT PRIVATE CREDIT FUND NOTE PURCHASE AGREEMENT
(ii) the Company shall promptly, and in any event within twenty (20) Business Days after the Company has knowledge that a Below Investment Grade Event has occurred, notify the holders of the Notes in writing, sent in the manner provided in Section 18, that a Below Investment Grade Event has occurred and confirming the effective date of the Below Investment Grade Event and that the Below Investment Grade Adjusted Interest Rate will accrue from the date on which such Below Investment Grade Event shall have occurred and will be payable on each subsequent interest payment date until such Below Investment Grade Event is no longer continuing in consequence thereof.
