Common use of Computation of Fees and Interest Clause in Contracts

Computation of Fees and Interest. (a) All computations of commitment fees, and of interest payable in respect of Base Rate Loans based upon 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 under this Agreement shall be made on the basis of a 360-day year and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower and the Banks of each determination of the Eurodollar Rate; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. Any change in the interest rate on a Loan resulting from a change in the Applicable Margin or the Incremental Margin relating thereto shall become effective as of the opening of business on the relevant date of such change. The Administrative Agent will promptly notify the Borrower and the Banks of the effective date and the amount of each such change; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. (c) Each determination of an interest rate by the Administrative Agent shall be conclusive and binding on the Borrower and the Banks in the absence of manifest error.

Appears in 4 contracts

Samples: Credit Agreement (Nexstar Broadcasting Group Inc), Credit Agreement (Nexstar Broadcasting Group Inc), Credit Agreement (Nexstar Finance Inc)

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Computation of Fees and Interest. (a) All computations of commitment fees, and of interest payable in respect of Base Rate Loans based upon 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 other interest under this Agreement shall be made on the basis of a 360-day year (of 12 months with 30 days each) and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower and the Banks Lenders of each determination of the Eurodollar Rate; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. Any Except as otherwise provided in the last sentence of Section 2.09(a)(iii) or in the proviso to the first sentence of Section 2.09(a)(iii), any change in the interest rate on a Loan resulting from a change in the Applicable Margin or the Incremental Margin relating thereto shall become effective as of the opening of business on the relevant date of such changeAdjustment Date. The Administrative Agent will promptly notify the Borrower and the Banks Lenders of the effective date and the amount of each such change; , provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. (c) Each determination of an interest rate by the Administrative Agent shall be conclusive and binding on the Borrower and the Banks Lenders in the absence of manifest error.

Appears in 2 contracts

Samples: Credit Agreement (Globe Manufacturing Corp), Credit Agreement (Globe Manufacturing Corp)

Computation of Fees and Interest. (a) All computations of commitment fees, and of interest payable in respect of Base Rate Loans based upon 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 under this Agreement shall be made on the basis of a 360-360 day year and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower and the Banks Lenders of each determination of the Eurodollar Rate; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. Any change in the interest rate on a Loan or any fees resulting from a change in the Applicable Margin or (as the Incremental Margin relating thereto case may be) in the Applicable Commitment Fee Percentage shall become effective as of the opening of business on the relevant date of such change. The Administrative Agent will promptly notify the Borrower and the Banks Lenders of the effective date and the amount of each such change; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. (c) Each determination of an interest rate rates or fees by the Administrative Agent shall be conclusive and binding on the Parent Company, the Borrower and the Banks Lenders in the absence of manifest error.

Appears in 1 contract

Samples: Credit Agreement (Regent Communications Inc)

Computation of Fees and Interest. (a) All computations of commitment fees, and of interest payable in respect of Base Rate Loans based upon the prime rateReference 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 under this Agreement shall be made on the basis of a 360-day year and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower and the Banks of each determination of the Eurodollar Rate; provided, -------- however, that any failure to do so shall not relieve the Borrower of any ------- liability hereunder. Any change in the interest rate on a Loan resulting from a change in the Applicable Margin or the Incremental Margin relating thereto shall become effective as of the opening of business on the relevant date of such change. The Administrative Agent will promptly notify the Borrower and the Banks of the effective date and the amount of each such change; provided, however, that any failure to do so shall not -------- ------- relieve the Borrower of any liability hereunder. (c) Each determination of an interest rate by the Administrative Agent shall be conclusive and binding on the Borrower and the Banks in the absence of manifest error.

Appears in 1 contract

Samples: Credit Agreement (Nexstar Finance Holdings LLC)

Computation of Fees and Interest. (a) All computations of commitment fees, and of interest payable in respect of Base Rate Loans based upon the prime rateReference 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 under this Agreement shall be made on the basis of a 360-day year and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower and the Banks of each determination of the Eurodollar Rate; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. Any change in the interest rate on a Loan resulting from a change in the Applicable Margin or the Incremental Margin relating thereto shall become effective as of the opening of business on the relevant date of such change. The Administrative Agent will promptly notify the Borrower and the Banks of the effective date and the amount of each such change; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. (c) Each determination of an interest rate by the Administrative Agent shall be conclusive and binding on the Borrower and the Banks in the absence of manifest error.

Appears in 1 contract

Samples: Credit Agreement (Nexstar Finance Inc)

Computation of Fees and Interest. (a) All computations of commitment fees, and of interest payable in respect of Base Rate Loans based upon 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 under this Agreement shall be made on the basis of a 360-day year (of 12 months with 30 days each) and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower and the Banks of each determination of the Eurodollar Rate; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. Any Except as otherwise provided in the last sentence of Section 2.09(a)(iii) or in the proviso to the first sentence of Section 2.09(a)(iii), any change in the interest rate on a Loan resulting from a change in the Applicable Margin or the Incremental Margin relating thereto shall become effective as of the opening of business on the relevant date of such changeAdjustment Date. The Administrative Agent will promptly notify the Borrower and the Banks of the effective date and the amount of each such change; , provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. (c) Each determination of an interest rate by the Administrative Agent shall be conclusive and binding on the Borrower and the Banks in the absence of manifest error.

Appears in 1 contract

Samples: Credit Agreement (PPC Publishing Corp)

Computation of Fees and Interest. (a) All computations of commitment fees, fees and of interest payable in respect of Base Rate Loans based upon the prime rate, Base 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 under this Agreement shall be made on the basis of a 360-day year and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower and the Banks Lenders of each determination of the Eurodollar Rate; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. Any change in the interest rate on a Loan or any fees resulting from a change in the Applicable Margin or (as the Incremental Margin relating thereto case may be) in the Applicable Commitment Fee Percentage shall become effective as of the opening of business on the relevant date of such change. The Administrative Agent will promptly notify the Borrower and the Banks Lenders of the effective date and the amount of each such change; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. (c) Each determination of an interest rate rates or fees by the Administrative Agent shall be conclusive and binding on the Borrower and the Banks Lenders in the absence of manifest error.

Appears in 1 contract

Samples: Credit Agreement (Idg Books Worldwide Inc)

Computation of Fees and Interest. (a) All computations of commitment fees, and of interest payable in respect of Base Rate Loans based upon the prime rateReference 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 under this Agreement shall be made on the basis of a 360-day year and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower Borrowers and the Banks of each determination of the Eurodollar Rate; provided, -------- however, that any failure to do so shall not relieve the Borrower Borrowers of any ------- liability hereunder. Any change in the interest rate on a Loan resulting from a change in the Applicable Margin or the Incremental Margin relating thereto shall become effective as of the opening of business on the relevant date of such change. The Administrative Agent will promptly notify the Borrower Borrowers and the Banks of the effective date and the amount of each such change; provided, however, that any failure to do so shall not -------- ------- relieve the Borrower Borrowers of any liability hereunder. (c) Each determination of an interest rate by the Administrative Agent shall be conclusive and binding on the Borrower Borrowers and the Banks in the absence of manifest error.

Appears in 1 contract

Samples: Credit Agreement (Nexstar Broadcasting of the Wichita Falls LLC)

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Computation of Fees and Interest. (a) All computations of commitment fees, and of interest payable in respect of Base Rate Loans based upon the prime rate, Base 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 under this Agreement shall be made on the basis of a 360-day year and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower and the Banks Lenders of each determination of the Eurodollar Rate; providedPROVIDED, howeverHOWEVER, that any failure to do so shall not relieve the Borrower of any liability hereunder. Any change in the interest rate on a Loan or any fees resulting from a change in the Applicable Margin or (as the Incremental Margin relating thereto case may be) in the Applicable Commitment Fee Percentage shall become effective as of the opening of business on the relevant date of such change. The Administrative Agent will promptly notify the Borrower and the Banks Lenders of the effective date and the amount of each such change; providedPROVIDED, howeverHOWEVER, that any failure to do so shall not relieve the Borrower of any liability hereunder. (c) Each determination of an interest rate rates or fees by the Administrative Agent shall be conclusive and binding on the Borrower and the Banks Lenders in the absence of manifest error.

Appears in 1 contract

Samples: Credit Agreement (Regent Communications Inc)

Computation of Fees and Interest. (a) All computations of commitment fees, and of interest payable in respect of Base Rate Loans based upon the prime rate, Base 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 under this Agreement shall be made on the basis of a 360-day year and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower and the Banks Lenders of each determination of the Eurodollar Rate; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. Any change in the interest rate on a Loan or any fees resulting from a change in the Applicable Margin or (as the Incremental Margin relating thereto case may be) in the Applicable Commitment Fee Percentage shall become effective as of the opening of business on the relevant date of such change. The Administrative Agent will promptly notify the Borrower and the Banks Lenders of the effective date and the amount of each such change; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. (c) Each determination of an interest rate rates or fees by the Administrative Agent shall be conclusive and binding on the Parent Company, the Borrower and the Banks Lenders in the absence of manifest error.

Appears in 1 contract

Samples: Credit Agreement (Regent Communications Inc)

Computation of Fees and Interest. (a) All computations of commitment fees, and of interest payable in respect of Base Rate Loans based upon the prime rateReference 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 under this Agreement shall be made on the basis of a 360-day year and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower and the Banks of each determination of the Eurodollar Rate; provided, -------- however, that any failure to do so shall not relieve the Borrower of any ------- liability hereunder. Any change in the interest rate on a Loan resulting from a change in the Applicable Margin or the Incremental Margin relating thereto shall become effective as of the opening of business on the relevant date of such change. The Administrative Agent will promptly notify the Borrower and the Banks of the effective date and the amount of each such change; provided, however, that any failure to do so shall not relieve -------- ------- the Borrower of any liability hereunder. (c) Each determination of an interest rate by the Administrative Agent shall be conclusive and binding on the Borrower and the Banks in the absence of manifest error.

Appears in 1 contract

Samples: Credit Agreement (Nexstar Broadcasting of the Wichita Falls LLC)

Computation of Fees and Interest. (a) All computations of commitment fees, and of interest payable in respect of Base Rate Loans based upon 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 under this Agreement shall be made on the basis of a 360-day year (of 12 months with 30 days each) and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower and the Banks Lenders of each determination of the Eurodollar RateLIBOR; provided, however, that any failure -------- ------- to do so shall not relieve the Borrower of any liability hereunder. Any Except as otherwise provided in the last sentence of Section 2.09(a)(iii) or in the -------------------- proviso to the first sentence of Section 2.09(a)(iii), any change in the -------------------- interest rate on a Loan resulting from a change in the Applicable Margin or the Incremental Margin relating thereto shall become effective as of the opening of business on the relevant date of such changeAdjustment Date. The Administrative Agent will promptly notify the Borrower and the Banks Lenders of the effective date and the amount of each such change; , provided, however, that -------- ------- any failure to do so shall not relieve the Borrower of any liability hereunder. (c) Each determination of an interest rate by the Administrative Agent shall be conclusive and binding on the Borrower and the Banks Lenders in the absence of manifest error.

Appears in 1 contract

Samples: Credit Agreement (Communications Instruments Inc)

Computation of Fees and Interest. (a) All computations of commitment fees, and of interest payable in respect of Base Rate Loans based upon 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 under this Agreement shall be made on the basis of a 360-day year (of 12 months with 30 days each) and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the last day thereof. (b) The Administrative Agent will promptly notify the Borrower Borrower, and the Banks Lenders of each determination of the Eurodollar RateLIBOR; provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. Any Except as otherwise provided in the last sentence of Section 2.09(a)(iii) or in the proviso to the first sentence of Section 2.09(a)(iii), any change in the interest rate on a Loan resulting from a change in the Applicable Margin or the Incremental Margin relating thereto shall become effective as of the opening of business on the relevant date of such changeAdjustment Date. The Administrative Agent will promptly notify the Borrower and the Banks Lenders of the effective date and the amount of each such change; , provided, however, that any failure to do so shall not relieve the Borrower of any liability hereunder. (c) Each determination of an interest rate by the Administrative Agent shall be conclusive and binding on the Borrower and the Banks Lenders in the absence of manifest error.

Appears in 1 contract

Samples: Credit Agreement (Communications Instruments Inc)

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