Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor on demand by the Agent. (b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan: (i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and (ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due. (c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 7 contracts
Samples: Credit Facility Agreement, Credit Facility Agreement (Gold Fields LTD), Credit Facility Agreement (Sibanye Gold LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 7 contracts
Samples: Multicurrency Revolving Facility Agreement (Markit Ltd.), Facility Agreement (Midamerican Energy Holdings Co /New/), Facilities Agreement (Signet Group PLC)
Default Interest. (a) 7.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) belowclause 7.3.2, is one per cent. 2% (1%two percent) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 clause 7.3 shall be immediately payable by that the relevant Obligor on demand by the Facility Agent.
(b) 7.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) 7.3.2.1 the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) 7.3.2.2 the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. 2% (1%two percent) higher than the rate which would have applied if the overdue amount had not become due.
(c) 7.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 7 contracts
Samples: Revolving Credit Facility Agreement (Gold Fields LTD), Revolving Credit Facility Agreement (Gold Fields LTD), Revolving Credit Facility Agreement (Gold Fields LTD)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 2 per cent. (1%) higher than and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor the Borrower on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 2 per cent. (1%) higher than and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 7 contracts
Samples: Facility Agreement (Mobile Telesystems Ojsc), Facility Agreement (MTS Inc), Facility Agreement (MTS Inc)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one two per cent. (12%) higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a part of the Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that Obligor the Borrower on demand by the AgentLender.
(b) If any overdue amount Unpaid Sum consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that the Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one two per cent. (12%) higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 6 contracts
Samples: Facility Agreement (Zhongpin Inc.), Facility Agreement (Fushi Copperweld, Inc.), Facility Agreement (China TransInfo Technology Corp.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) % higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 12.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) % higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 6 contracts
Samples: Amendment and Restatement Agreement (Nord Anglia Education, Inc.), Revolving Facility Agreement (Nord Anglia Education, Inc.), Senior Revolving Facility Agreement (Nord Anglia Education, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one two per cent. (1%) higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted part of a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably)Facility Agent. Any interest accruing under this Clause 8.3 (Default interest) shall be immediately payable by that the Obligor on demand by the Facility Agent.
(b) If any overdue amount an Unpaid Sum consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that the Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount that Unpaid Sum during that first Interest Period shall be one two per cent. (1%) higher than the rate which would have applied if the overdue amount that Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 6 contracts
Samples: Term Loan Facility (Ardmore Shipping Corp), Term Loan Facility (Ardmore Shipping Corp), Term Loan Facility (Ardmore Shipping Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one two per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably)of one Month. Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one two per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 5 contracts
Samples: Acquisition Facilities Agreement (Cemex Sa De Cv), Acquisition Facilities Agreement (Cemex Sab De Cv), Acquisition Facilities Agreement (Cemex Sa De Cv)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) % higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 12.3 shall be immediately payable by that the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) % higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 5 contracts
Samples: Senior Facilities Agreement (Liberty Global PLC), Super Senior Facilities Agreement (Liberty Global PLC), Senior Facilities Agreement (Liberty Global PLC)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 5 contracts
Samples: Senior Secured Facility Agreement (Aluminum Corp of China), Facility Agreement (Gold Fields LTD), Facility Agreement (Gold Fields LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 2 per cent. (1%) higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 11.3 shall be immediately payable by that the relevant Obligor on demand by the Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one 2 per cent. (1%) higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 5 contracts
Samples: Amendment and Restatement Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD), Amendment and Restatement Agreement (Melco Resorts & Entertainment LTD), Amendment and Restatement Agreement (STUDIO CITY INTERNATIONAL HOLDINGS LTD)
Default Interest. (a) 10.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) Clause 10.3.2 below, is one 1 per cent. (1%) cent higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) 10.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be one 1 per cent. (1%) cent higher than the rate which would have applied if the overdue amount had not become due.
(c) 10.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 5 contracts
Samples: Term Facility Agreement (Enstar Group LTD), Revolving Credit Facility Agreement (Enstar Group LTD), Term Facility Agreement (Enstar Group LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 1 per cent. (1%) higher than and the rate (at the highest Margin under Clause 9.5) which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 1 per cent. (1%) higher than and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 5 contracts
Samples: Multicurrency Term and Revolving Facilities Agreement (Xstrata PLC), Multicurrency Term and Revolving Facilities Agreement (Xstrata PLC), Multicurrency Term and Revolving Facilities Agreement (Xstrata PLC)
Default Interest. (a) If an Obligor the Company fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate whichwhich is, subject to paragraph (b) below, is one two per cent. (12%) higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor the Company on demand by the Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one two per cent. (12%) higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 5 contracts
Samples: Facility Agreement, Facility Agreement (Alibaba Group Holding LTD), Facility Agreement (Alibaba Group Holding LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 2 per cent. (1%) higher than and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 2 per cent. (1%) higher than and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 4 contracts
Samples: Facility Agreement (Marine Harvest ASA), Facility Agreement (Marine Harvest ASA), Facility Agreement (Marine Harvest ASA)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 1 per cent. (1%) higher than and the rate (at the highest Margin under Clause 10.5) which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 1 per cent. (1%) higher than and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 4 contracts
Samples: Debt Bridge Facility Agreement (Xstrata PLC), Debt Bridge Facility Agreement (Xstrata PLC), Debt Bridge Facility Agreement (Xstrata PLC)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 4 contracts
Samples: Facility Agreement (VTTI Energy Partners LP), Facility Agreement (InterXion Holding N.V.), Facility Agreement (InterXion Holding N.V.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) belowclause 13.3(b), is one per cent. (1%) 2% higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 clause 13.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) 2% higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 4 contracts
Samples: Senior Facilities Agreement (Luxfer Holdings PLC), Senior Facilities Agreement (Luxfer Holdings PLC), Senior Facilities Agreement (Luxfer Holdings PLC)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 1 per cent. (1%) higher than and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 12.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 1 per cent. (1%) higher than and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 4 contracts
Samples: Facility Agreement (Rockwood Specialties Group Inc), Amendment and Restatement Agreement (Rockwood Holdings, Inc.), Facility Agreement (Rockwood Specialties Group Inc)
Default Interest. (a) 10.1 If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate whichthat, subject to paragraph (b) Clause 10.2 below, is one per cent. (1%) higher than the rate which that would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.1 shall be immediately payable by that Obligor the Borrower on demand by the Facility Agent.
(b) 10.2 If any overdue amount consists of all or part of a Loan which that became due on a day which that was not the last day of an Interest Period relating to that Loan:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which that would have applied if the overdue amount had not become due.
(c) 10.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Samples: Facility Agreement, Facility Agreement (Teekay Corp), Facility Agreement (Teekay LNG Partners L.P.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 6.3 shall be immediately payable by that Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration be for the period equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) cent higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Samples: Pre Export Finance Agreement (Votorantim Pulp & Paper Inc), Pre Export Finance Agreement (Votorantim Pulp & Paper Inc), Pre Export Finance Agreement (Votorantim Pulp & Paper Inc)
Default Interest. (aA) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (bB) below, is one 1.0 per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-non payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 clause shall be immediately payable by that the Obligor on demand by the that Facility Agent.
(bB) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 1.0 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(cC) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Samples: Revolving Credit Facility Agreement (Kosmos Energy Ltd.), Revolving Credit Facility Agreement (Kosmos Energy Ltd.), Deed of Amendment and Restatement (Kosmos Energy Ltd.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 1 per cent. (1%) higher than cent and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 1 per cent. (1%) higher than cent and the rate which would have applied if the overdue amount had not become due, subject to any applicable restrictions under French law.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Samples: Facility Agreement (Aon Corp), Facility Agreement (Aon Corp), Facility Agreement (Aon Corp)
Default Interest. (a) 9.3.1 If an Obligor a Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) belowClause 9.3.2, is one 2 per cent. (1%) per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 Clause9.3 shall be immediately payable by that Obligor Borrower on demand by the AgentLender.
(b) 9.3.2 If any overdue amount Unpaid Sum consists of all or part of a Loan and which became due on a day which was not the last day of an Interest Period relating to that Loan:
(ia) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2 per cent. (1%) per annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Samples: Facilities Agreement, Facilities Agreement (MiX Telematics LTD), Facilities Agreement (PowerFleet, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate whichwhich is, subject to paragraph (b) below, is one two per cent. (1%) higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one two per cent. (1%) higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 3 contracts
Samples: Second Amendment and Restatement Agreement (Las Vegas Sands Corp), Amendment and Restatement Agreement (Las Vegas Sands Corp), Facility Agreement (Las Vegas Sands Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 1 per cent. (1%) higher than cent and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 1 per cent. (1%) higher than cent and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Samples: Amendment and Restatement Agreement (Discovery Communications, Inc.), Facilities Agreement (LG Acquisition Corp.), Facility Agreement (Cookson Group PLC)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 1 per cent. (1%) higher than and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 1 per cent. (1%) higher than and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Samples: Facility Agreement (Intercontinental Hotels Group PLC /New/), Facility Agreement (Intercontinental Hotels Group PLC /New/), Facility Agreement (Intercontinental Hotels Group PLC /New/)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 1 per cent. (1%) higher than and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 1 per cent. (1%) higher than and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Samples: Loan Agreement (Intercontinental Hotels Group PLC /New/), Dual Currency Term Facility Agreement (Xstrata PLC), Loan Facility Agreement (Falconbridge LTD)
Default Interest. (a) 10.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, Clause 10.3.2 below is one 2% per cent. (1%) annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) 10.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) 10.3.2.1 the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) 10.3.2.2 the rate of interest applying to the overdue amount during that first Interest Period shall be one 2% per cent. (1%) annum higher than the rate which would have applied if the overdue amount had not become due.
(c) 10.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Samples: Revolving Facility Agreement (Sibanye Gold LTD), Revolving Credit Facility Agreement (Sibanye Stillwater LTD), Revolving Facility Agreement (Sibanye Gold LTD)
Default Interest. (a) 8.3.1 If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) Clause 8.3.2 below, is one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 (Default Interest) shall be immediately payable by that Obligor the Borrower on demand by the AgentAgent .
(b) 8.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that LoanPeriod:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) 8.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 3 contracts
Samples: Facility Agreement (Hoegh LNG Partners LP), Facility Agreement (Hoegh LNG Partners LP), Facility Agreement (Hoegh LNG Partners LP)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 2.50 per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the AgentLender.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2.50 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facility Agreement (FreeSeas Inc.), Facility Agreement (FreeSeas Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 2 per cent. (1%) higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably)Facility Agent. Any interest accruing under this Clause 8.3 (Default interest) shall be immediately payable by that the Obligor on demand by the Facility Agent.
(b) If any overdue amount an Unpaid Sum consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that the Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount that Unpaid Sum during that first Interest Period shall be one 2 per cent. (1%) higher than the rate which would have applied if the overdue amount that Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 2 contracts
Samples: Term Loan Facility (Dorian LPG Ltd.), Term Loan Facility (Dorian LPG Ltd.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Bridge Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a an Initial Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Bridge Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that the Obligor on demand by the Bridge Facility Agent.
(b) If any overdue amount consists of all or part of a an Initial Loan which became due on a day which was not the last day of an Interest Period relating to that Initial Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Initial Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Bridge Facility Agreement (Nordic Telephone CO ApS), Bridge Facility Agreement (Nordic Telephone CO ApS)
Default Interest. (aA) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgmentjudgment and to the extent interest at a default rate is not otherwise being paid on that sum) at a rate which, subject to paragraph (bB) below, is one 2.00 per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Senior Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that Obligor the Borrower on demand by the Senior Agent.
(bB) If any overdue amount consists of all or part of a the Senior Loan which became due on a day which was not the last day of an Interest Period relating to that the Senior Loan:
(i1) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Senior Loan; and
(ii2) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2.00 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(cC) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 2 contracts
Samples: Securitisation Agreement (Encore Capital Group Inc), Securitization Agreement (Encore Capital Group Inc)
Default Interest. (a) If an Obligor a Loan Party fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount any Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 2 per cent. (1%) per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that Obligor the Loan Party on demand by the Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount that Unpaid Sum during that first Interest Period shall be one 2 per cent. (1%) per annum higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 2 contracts
Samples: Syndication and Amendment Agreement (Igate Corp), Facilities Agreement (Igate Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one two per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one two per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Loan Agreement (Harry Winston Diamond Corp), Facility Agreement (Harry Winston Diamond Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 2% per cent. (1%) annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2% per cent. (1%) annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facilities Agreement (StarTek, Inc.), Facilities Agreement (StarTek, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one two per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably)of one Month. Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one two per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facilities Agreement (Cemex Sab De Cv), Facilities Agreement (Cemex Sab De Cv)
Default Interest. (a) 8.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) Clause 8.3.2 below, is one two per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) 8.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that LoanPeriod:
(iA) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that LoanPeriod; and
(iiB) the rate of interest applying to the overdue amount during that first Interest Period shall be one two per cent. (1%) cent higher than the rate which would have applied if the overdue amount had not become due.
(c) 8.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable, in accordance with applicable laws.
Appears in 2 contracts
Samples: Facility Agreement (Hines Global REIT, Inc.), Facility Agreement (Hines Global REIT, Inc.)
Default Interest. (a) 9.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due dateMajor Event of Default occurs which is continuing, interest shall accrue on the overdue amount Total Facility Outstandings from the due date of occurrence of the Major Event of Default up to the date on which the Major Event of actual payment Default is no longer continuing, (both before and after judgment, if applicable) at a rate which, subject to paragraph (b) 9.3.2 below, is one the higher of (i) the Prime Rate plus 2% per cent. annum and (1%ii) 5% per annum higher than the prevailing interest rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan referred to in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably)clause 9.1. Any interest accruing under this Clause 8.3 clause 9.3 shall be immediately payable by that the Obligor on demand by the Senior Agent.
(b) 9.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2% per cent. (1%) annum higher than the rate which would have applied if the overdue amount had not become due.
(c) 9.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Senior Facilities Agreement (Atlatsa Resources Corp), Senior Term Loan and Revolving Facilities Agreement (Atlatsa Resources Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 2 per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 11.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Unsecured Uncommitted Revolving Facilities Agreement (Molson Coors Brewing Co), Revolving Facilities Agreement (Molson Coors Brewing Co)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 1 per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 1 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Single Currency Term Facility Agreement (Bristol Myers Squibb Co), Single Currency Term Facility Agreement (Bristol Myers Squibb Co)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 11.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facilities Agreement (Signet Jewelers LTD), Facilities Agreement (Signet Jewelers LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Default Interest Periods, each of a duration selected by the Agent (acting reasonably)Rate. Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Revolving Facility Loan which became due on a day which was not the last day of an Interest Period a Repayment Date relating to that Revolving Facility Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Revolving Facility Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of one per cent. (1%) higher than and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Amendment and Restatement Agreement (Cascal N.V.), Amendment and Restatement Agreement (Cascal N.V.)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document this Agreement on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one two per cent. (1%) higher than the rate which that would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 7.4 shall be immediately payable by that Obligor the Borrower on demand by the Agentdemand.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which that was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) percent higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Term Loan Facility Agreement (Mittal Steel USA ISG Inc), Term Loan Facility Agreement (Mittal Steel USA ISG Inc)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 1.00 per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 13.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 1.00 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Revolving Facility Agreement (South Texas Supply Company, Inc.), Revolving Facility Agreement (South Texas Supply Company, Inc.)
Default Interest. (a) If an a Primary Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one two per cent. cent (12.0%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.4 shall be immediately payable by that the Primary Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one two per cent. cent (12.0%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Syndicated Facility Agreement (Equinix Inc), Facility Agreement (Equinix Inc)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) 2% higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one per cent. (1%) 2% higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facility Agreement (Seanergy Maritime Holdings Corp.), Facility Agreement (Seanergy Maritime Holdings Corp.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one two per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately promptly payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one two per cent. (1%) cent higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately promptly due and payable.
Appears in 2 contracts
Samples: Facility Agreement (Golden Telecom Inc), Facility Agreement (Golden Telecom Inc)
Default Interest. (a) 8.3.1 If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) Clause 8.3.2 below, is one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-non- payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 ( Default Interest) shall be immediately payable by that Obligor the Borrower on demand by the AgentAgent .
(b) 8.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that LoanPeriod:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) 8.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facility Agreement, Facility Agreement
Default Interest. (a) 9.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount that Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) Clause 9.3.2 below, is one per cent. 2% (1%two percent) higher than the rate which would have been payable if the overdue amount that Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount that Unpaid Sum for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). .
9.3.2 Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Facility Agent.
(b) 9.3.3 If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) 9.3.3.1 the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) 9.3.3.2 the rate of interest applying to the overdue amount that Unpaid Sum during that first Interest Period shall be one per cent. 2% (1%two percent) higher than the rate which would have applied if the overdue amount that Unpaid Sum had not become due.
(c) 9.3.4 Default interest (if unpaid) arising on an overdue amount any Unpaid Sum will be compounded with the overdue amount that Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 2 contracts
Samples: Term and Revolving Credit Facilities Agreement, Term and Revolving Credit Facilities Agreement (Sibanye Gold LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate whichwhich is, subject to paragraph (b) below, is one two per cent. (12%) higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one two per cent. (12%) higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facility Agreement (Alibaba Group Holding LTD), Facilities Agreement (Alibaba Group Holding LTD)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 1.5 per cent. (1%) higher than and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor the Borrower on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 1.5 per cent. (1%) higher than and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facility Agreement (Chartered Semiconductor Manufacturing LTD), Facility Agreement (Chartered Semiconductor Manufacturing LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 16.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Term Facility Agreement (Manchester United PLC), Term Facility Agreement (Manchester United PLC)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 2 per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.4 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Senior Revolving Credit Facility Agreement, Senior Revolving Credit Facility Agreement (Logitech International Sa)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Senior Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 12.3 shall be immediately payable by that the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 1 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Senior Facilities Agreement (Nordic Telephone CO ApS), Senior Facilities Agreement (Nordic Telephone CO ApS)
Default Interest. (a) If an Obligor the Company fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 1 per cent. (1%) higher than cent and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 8.2 shall be immediately payable by that Obligor the Company on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 1 per cent. (1%) higher than cent and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facility Agreement (Nordic Telephone CO ApS), Facility Agreement (Nordic Telephone CO ApS)
Default Interest. (a) 10.3.1 If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) sub-clause 10.3.2 below, is one two per cent. (12%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that Obligor the Borrower on demand by the Agent.
(b) 10.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be one two per cent. (12%) higher than the rate which would have applied if the overdue amount had not become due.
(c) 10.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Borrowing Base Facility Agreement (MIE Holdings Corp), Shares Purchase Agreement (MIE Holdings Corp)
Default Interest. (a) 8.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) clause 8.3.2 below, is one per cent. (1%) 2.5% higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a the Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under in accordance with this Clause clause 8.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) 8.3.2 If any overdue amount consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that Loanthe Loan or the relevant part of it:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) 2.5% higher than the rate which would have applied if the overdue amount had not become due.
(c) 8.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facility Agreement (Teekay Tankers Ltd.), Facility Agreement (Teekay Tankers Ltd.)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of two per cent. (1%) higher than and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor the Borrower on demand by the AgentLender.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of two per cent. (1%) higher than and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facility Agreement (MediaRing LTD), Facility Agreement (Chartered Semiconductor Manufacturing LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. two percent (12.0%) higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount an Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that the relevant Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that the relevant Loan; and
(ii) the rate of interest applying to the overdue amount that Unpaid Sum during that first Interest Period shall be one per cent. two percent (12.0%) higher than the rate which would have applied if the overdue amount that Unpaid Sum had not become due.
(c) Default To the extent permitted by applicable law, default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 2 contracts
Samples: Credit Agreement (Eagle Bulk Shipping Inc.), Credit Agreement (Eagle Bulk Shipping Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) higher than two times the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than two times the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Amendment and Restatement Agreement (Genesco Inc), Amendment and Restatement Agreement (Genesco Inc)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facility Agreement (Delhaize Group), Facility Agreement (Delhaize Group)
Default Interest. (a) 10.4.1 If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) belowclause 10.4.3, is one two per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 clause 10.4 shall be immediately payable by that Obligor the Borrower on demand by the Agent.
10.4.2 For the avoidance of doubt, any overdue amount which is not a Loan shall accrue interest as if such amount was a Loan for successive Interest Periods, each of a duration selected by the Agent (bacting reasonably) at the rate equal to two per cent. plus the applicable Margin.
10.4.3 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be one two per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) 10.4.4 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Facilities Agreement (International Shipping Enterprises, Inc.), Facilities Agreement (Navios Maritime Holdings Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which), subject to paragraph (b) below, is one per cent. (at a rate 1%) % higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.4 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or a part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (the sum of 1%) higher than % and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 2 contracts
Samples: Supplemental Agreement (Innospec Inc.), Multicurrency Revolving Facility Agreement (Innospec Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one two per cent. cent (12.00%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a the Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that the Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one two per cent. cent (12.00%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
d) If an Event of Default has occurred and is continuing and the Agent has given notice to the Borrower, default interest shall be calculated in accordance with this Clause 8.3.
Appears in 2 contracts
Samples: Term Loan Facility Agreement (DHT Holdings, Inc.), Term Loan Facility Agreement (DHT Holdings, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 2% per cent. (1%) annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Senior Agent (acting reasonably). Any interest accruing under this Clause 8.3 14.3 shall be immediately payable by that the Obligor on demand by the Senior Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2% per cent. (1%) annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Senior Term Loan Facilities Agreement (Anooraq Resources Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.. 93954-4-1-v3.0 -32- 70-40529536
Appears in 1 contract
Samples: Facility Agreement (Midamerican Energy Holdings Co /New/)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate whichwhich is, subject to paragraph (b) below, is one two per cent. (12.0%) per annum higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor the Borrower on demand by the Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one two per cent. (12.0%) per annum higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 1 contract
Samples: Facilities Agreement (WEIBO Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which), subject to paragraph (b) below, is at a rate one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or a part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 1 per cent. (1%) higher than cent and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Facilities Agreement (Octel Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 2 per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Revolving Credit Facility Agreement (Central European Media Enterprises LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate whichwhich is, subject to paragraph (b) below, is one two per cent. (1%) higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.4 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Term Rate Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one two per cent. (1%) higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, below is one 2 per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one two per cent. (1%) cent higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause clause 8.3 (Default interest) shall be immediately payable by that Obligor the Borrower on demand by the Facility Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that the Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one two per cent. (1%) cent higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor the Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 1 per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan Note in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan Note which became due on a day which was not the last day of an Interest Period relating to that LoanNote:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that LoanNote; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 1 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Senior Subscription Agreement (TPG Advisors IV, Inc.)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one two per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably)of one Month. Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one two per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor a Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that Obligor the relevant Borrower on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 1 per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 14.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 1 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Super Senior Revolving Facility Agreement (Orion Engineered Carbons S.a r.l.)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, below is one 2 per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor the Borrower on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Facilities Agreement (Exide Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) % higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 8.4 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan and which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) 2% higher than the rate which would have applied if the overdue amount had not become due.
(c) Default Interest and default interest (in each case, if unpaid) arising on an overdue amount will be compounded with the principal amount of the Loans or the overdue amount (as applicable) at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor a Credit Party fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 2 per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Administrative Agent (acting reasonably). Any interest accruing under this Clause 8.3 12.3 shall be immediately payable by that Obligor the Credit Party on demand by the Administrative Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Revolving Credit Agreement (Pride International Inc)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) higher than the sum of 2% and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on within three Business Days of demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the sum of 2% and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Mgo Facility Agreement
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate whichwhich is, subject to paragraph (b) below, is one below two (2) per cent. (1%) per annum higher than the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a the Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor the Borrower on demand by the AgentLender.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that such Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one two (2) per cent. (1%) per annum higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 1 contract
Samples: Facility Agreement
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, below is one 2.00 per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor the Borrower on demand by the Agent.
(b) If any overdue amount consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that LoanPeriod:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2.00 per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Facility Agreement (Melco PBL Entertainment (Macau) LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 150 per cent. (1%) higher than of the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to that the Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that the Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one 150 per cent. (1%) higher than of the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 1 contract
Samples: Facility Agreement (China Shandong Industries, Inc.)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of two per cent. (1%) higher than and the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that Obligor the Borrower on demand by the Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one the sum of two per cent. (1%) higher than and the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) 13.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) belowClause 13.3.2, is one two per cent. (1%) per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 13.3 (Default interest) shall be immediately payable by that the Obligor on demand by the Agent.
(b) 13.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(iA) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iiB) the rate of interest applying to the overdue amount during that first Interest Period shall be one two per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) 13.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Junior Credit Agreement (Endeavour International Corp)
Default Interest. (a) 8.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) belowClause 8.3.2, is one two per cent. (1%) per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 (Default interest) shall be immediately payable by that the Obligor on demand by the Agent.
(b) 8.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(iA) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iiB) the rate of interest applying to the overdue amount during that first Interest Period shall be one two per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) 8.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Junior Facility Agreement (Endeavour International Corp)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount such Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount such Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 10.3 shall be immediately payable by that the Obligor on demand by the Facility Agent.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 1 contract
Samples: Facility Agreement (Yell Finance Bv)
Default Interest. (a) 8.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) Clause 8.3.2 below, is one 1% per cent. (1%) annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor on demand by the Facility Agent.
(b) 8.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) 8.3.2.1 the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) 8.3.2.2 the rate of interest applying to the overdue amount during that first Interest Period shall be one 1% per cent. (1%) annum higher than the rate which would have applied if the overdue amount had not become due.
(c) 8.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.. Gold Fields_ RCF Table of Contents
Appears in 1 contract
Samples: Zar Revolving Credit Facility Agreement (Gold Fields LTD)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) belowclause 10.5(b), is one per cent. (1%) 3.50% higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 clause 10.5 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) 3.50% higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Amendment and Restatement Agreement (Sunrise Senior Living Inc)
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one 2% per cent. (1%) annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent Servicer (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor the Borrower on demand by the AgentLender.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one 2% per cent. (1%) annum higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Facility Agreement (TriLinc Global Impact Fund LLC)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which), subject to paragraph (b) below, is at a rate one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) If any overdue amount consists of all or a part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one the sum of 1 per cent. (1%) higher than cent and the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor a Transaction Party fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 2 per cent. (1%) higher than cent and the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that Obligor the Original Borrower on demand by the AgentLender.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than 2 percent plus the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one the sum of 2 per cent. (1%) higher than and the rate which would have been payable if the overdue amount Unpaid Sum had, during the period of non-payment, constituted a Loan in the currency of the overdue amount Unpaid Sum for successive Interest Periods, each of a duration selected by the Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 shall be immediately payable by that the Obligor on demand by the AgentLender.
(b) If any overdue amount Unpaid Sum consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount Unpaid Sum during that first Interest Period shall be one the sum of 1 per cent. (1%) higher than and the rate which would have applied if the overdue amount Unpaid Sum had not become due.
(c) Default interest (if unpaid) arising on an overdue amount Unpaid Sum will be compounded with the overdue amount Unpaid Sum at the end of each Interest Period applicable to that overdue amount Unpaid Sum but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Facility Agent (acting reasonably). Any interest accruing under this Clause 8.3 11.3 shall be immediately payable by that Obligor the Borrower on demand by the Facility Agent.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Facility Agreement (AstraZeneca Biopharmaceuticals Inc.)
Default Interest. (a) 12.3.1 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) Clause 12.3.2 below, is one two (2) per cent. (1%) cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 8.3 12.3 shall be immediately payable by that the Obligor on demand by the Agent.
(b) 12.3.2 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:Loan:-
(ia) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(iib) the rate of interest applying to the overdue amount during that first Interest Period shall be one two (2) per cent. (1%) cent higher than the rate which would have applied if the overdue amount had not become due.
(c) 12.3.3 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Samples: Multicurrency Facility Agreement (Gulfmark Offshore Inc)
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent. (1%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent Lender (acting reasonably). Any interest accruing under this Clause 8.3 9.3 shall be immediately payable by that the Obligor on demand by the AgentLender.
(b) If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:
(i) the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and
(ii) the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. (1%) higher than the rate which would have applied if the overdue amount had not become due.
(c) Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
Default Interest. (a) If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph which is two per cent per annum (b) below, is one per cent. (12%) higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a the Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably)Lender. Any interest accruing under this Clause 8.3 shall be immediately payable by that Obligor the Obligors on demand by the Agent.
(b) Lender. If any overdue amount an Unpaid Sum consists of all or part of a the Loan which became due on a day which was not the last day of an Interest Period relating to the Loan or that part of the Loan:
(ia) the first Interest Period for that overdue amount Unpaid Sum shall have a duration equal to the unexpired portion of the current Interest Period relating to the Loan or that part of the Loan; and
(iib) the rate of interest applying to the overdue amount that Unpaid Sum during that first Interest Period shall be one two per cent. cent per annum (12%) higher than the rate which would have applied if the overdue amount that Unpaid Sum had not become due.
(c) . Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Appears in 1 contract
