Funded Amounts and Interest and Yield Thereon. (a) The Lessor’s Invested Amount for any Leased Property outstanding from time to time shall be allocated on a pro rata basis (based on the aggregate Funded Amounts), to the LIBOR Advances and the Base Rate Advances, and shall accrue yield (“Yield”) at the Lessor Rate, computed using the actual number of days elapsed and a 360 day year. If all or a portion of the principal amount of or Yield on the Lessor’s Invested Amounts shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall, without limiting the rights of the Lessor under the Lease, to the maximum extent permitted by law, accrue Yield at the Overdue Rate, from the date of nonpayment until paid in full (both before and after judgment). (b) Each Lender’s Funded Amount for any Leased Property outstanding from time to time shall accrue interest as provided in the Loan Agreement. (c) During the Construction Term, in lieu of the payment of accrued interest, on each Payment Date, each Lender’s Funded Amount in respect of a Construction Land Interest shall automatically be increased by the amount of interest accrued and unpaid on the related Loans pursuant to the Loan Agreement during the Rent Period ending immediately prior to such Payment Date. Similarly, in lieu of the payment of accrued Yield, on each Payment Date, the Lessor’s Invested Amount in respect of a Construction Land Interest shall automatically be increased by the amount of Yield accrued on the Lessor’s Invested Amount in respect of such Leased Property during the Rent Period ending immediately prior to such Payment Date. Such increases in Funded Amounts shall occur without any disbursement of funds by the Funding Parties and without the requirement that a Funding Request be delivered with respect thereto. (d) Three Business Days prior to the last day of each Rent Period, Concord shall deliver (which delivery may be by facsimile) to the Lessor and the Agent a notice substantially in the form of Exhibit I (each, a “Payment Date Notice”), appropriately completed, specifying the allocation of the Funded Amounts related to such Rent Period to LIBOR Advances and Base Rate Advances and the Rent Periods therefor, provided that no such allocation to LIBOR Advances shall be in an amount less than $500,000. Each such Payment Date Notice shall be irrevocable. If no such notice is given, the Funded Amounts shall be allocated to a LIBOR Advance with a Rent Period of three (3) months.
Appears in 1 contract
Samples: Master Agreement (Concord Efs Inc)
Funded Amounts and Interest and Yield Thereon. (a) The Lessor’s 's Invested Amount for any Leased Property outstanding from time to time shall be allocated on a pro rata basis (based on the aggregate Funded Amounts), to the LIBOR Advances and the Base Rate Advances, and shall accrue yield (“"Yield”") at the Lessor Rate, computed using the actual number of days elapsed and a 360 day year. If all or a portion of the principal amount of or Yield yield on the Lessor’s 's Invested Amounts shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall, without limiting the rights of the Lessor under the Lease, to the maximum extent permitted by law, accrue Yield yield at the Overdue Rate, from the date of nonpayment until paid in full (both before and after judgment).
(b) Each Lender’s 's Funded Amount for any Leased Property outstanding from time to time shall accrue interest as provided in the Loan Agreement.
(c) During the Construction Term, in lieu of the payment of accrued interest, on each Payment Date, each Lender’s 's Funded Amount in respect of a Construction Land Interest shall automatically be increased by the amount of interest accrued and unpaid on the related Loans pursuant to the Loan Agreement during the Rent Period ending immediately prior to such Payment Date (except to the extent that at any time such increase would cause such Lender's Funded Amount to exceed such Lender's Commitment, in which event the related Lessee shall pay such excess amount to such Lender in immediately available funds on such Payment Date). Similarly, in lieu of the payment of accrued Yield, on each Payment Date, the Lessor’s 's Invested Amount in respect of a Construction Land Interest shall automatically be increased by the amount of Yield accrued on the Lessor’s 's Invested Amount in respect of such Leased Property during the Rent Period ending immediately prior to such Payment Date (except to the extent that at any time such increase would cause the Lessor's Invested Amount to exceed the Lessor's Commitment, in which event the related Lessee shall pay such excess amount to the Lessor in immediately available funds on such Payment Date). Such increases in Funded Amounts shall occur without any disbursement of funds by the Funding Parties and without the requirement that a Funding Request be delivered with respect theretoParties.
(d) Three Business Days prior to the last day of each Rent Period, Concord DTD shall deliver (which delivery may be by facsimile) to the Lessor and the Agent a notice substantially in the form of Exhibit I (each, a “"Payment Date Notice”"), appropriately completed, specifying the allocation of the Funded Amounts related to such Rent Period to LIBOR Advances and Base Rate Advances and the Rent Periods therefor, provided that no such allocation to LIBOR Advances shall be in an amount less than $500,0001,000,000. Each such Payment Date Notice shall be irrevocable. If no such notice is given, the Funded Amounts shall be allocated to a LIBOR Advance with a Rent Period of three (3) months.
Appears in 1 contract
Funded Amounts and Interest and Yield Thereon. UNUSED FEE
(a) The Lessor’s 's Invested Amount for any Leased Property outstanding from time to time shall be allocated on a pro rata basis (based on the aggregate Funded Amounts), to the LIBOR Advances and the Base Rate Advances, and shall accrue yield (“Yield”"YIELD") at the Lessor Rate, computed using the actual number of days elapsed and a 360 day year. If all or a portion of the principal amount of or Yield on the Lessor’s 's Invested Amounts shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall, without limiting the rights of the Lessor under the Lease, to the maximum extent permitted by law, accrue Yield at the Overdue Rate, from the date of nonpayment until paid in full (both before and after judgment).
(b) Each Lender’s 's Funded Amount for any Leased Property outstanding from time to time shall accrue interest as provided in the Loan Agreement.
(c) During the Construction Term, in lieu of the payment of accrued interest, on each Payment Date, each Lender’s 's Funded Amount in respect of a Construction Land Interest shall automatically be increased by the amount of interest accrued and unpaid on the related Loans pursuant to the Loan Agreement during the Rent Period ending immediately prior to such Payment Date (except to the extent that at any time such increase would cause such Lender's Funded Amount to exceed such Lender's Commitment, in which event the related Lessee shall pay such excess amount to such Lender in immediately available funds on such Payment Date). Similarly, in lieu of the payment of accrued Yield, on each Payment Date, the Lessor’s 's Invested Amount in respect of a Construction Land Interest shall automatically be increased by the amount of Yield accrued on the Lessor’s 's Invested Amount in respect of such Leased Property during the Rent Period ending immediately prior to such Payment Date (except to the extent that at any time such increase would cause the Lessor's Invested Amount to exceed the Lessor's Commitment, in which event the related Lessee shall pay such excess amount to the Lessor in immediately available funds on such Payment Date). Such increases in Funded Amounts shall may occur without any disbursement of funds by the Funding Parties Parties, and without the requirement that need for delivery of a Funding Request be delivered with respect theretoRequest.
(d) Three Business Days prior to the last day of each Rent Period, Concord ADESA or ADESA California shall deliver (which delivery may be by facsimile) to the Lessor and the Agent a notice substantially in the form of Exhibit EXHIBIT I (each, a “Payment Date Notice”"PAYMENT DATE NOTICE"), appropriately completed, specifying the allocation of the Funded Amounts related to such Rent Period to LIBOR Advances and Base Rate Advances and the Rent Periods therefor, provided PROVIDED that no such allocation to LIBOR Advances shall be in an amount less than $500,0001,000,000. Each such Payment Date Notice shall be irrevocable. If no such notice is given, The Agent shall promptly forward a copy of each Payment Date Notice to the Funded Amounts shall Lenders (which distribution may be allocated to a LIBOR Advance with a Rent Period of three (3) months.by e-mail or facsimile
Appears in 1 contract
Samples: Master Agreement (Allete Inc)
Funded Amounts and Interest and Yield Thereon. Facility ------------------------------------------------------- Fee; Additional Fees; Bond Trustee's Fee. ----------------------------------------
(a) The Lessor’s 's Invested Amount for any Leased Property outstanding from time to time shall be allocated on a pro rata basis (based on the aggregate Funded Amounts), to the LIBOR Advances and the Base Rate Advances, and shall accrue yield (“"Yield”") at the Lessor Rate, computed using the actual ----- number of days elapsed and a 360 day year. If all or a portion of the principal amount of or Yield yield on the Lessor’s 's Invested Amounts Amount shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall, without limiting the rights of the Lessor under the Lease, to the maximum extent permitted by law, accrue Yield yield at the Overdue Rate, from the date of nonpayment until paid in full (both before and after judgment).
(b) Each Lender’s 's Funded Amount for any Leased Property outstanding from time to time shall accrue interest as provided in the Loan Agreement.
(c) During the Construction Term, in lieu of the payment of accrued interest, on each Payment Date, each Lender’s 's Funded Amount in respect of a the Construction Land Interest shall automatically be increased by the amount of interest accrued and unpaid on the related Loans pursuant to the Loan Agreement during the Rent Period ending immediately prior to such Payment Date (except to the extent that at any time such increase would cause such Lender's Funded Amount to exceed such Lender's Commitment, in which event the Lessee shall pay such excess amount to such Lender in immediately available funds on such Payment Date). Similarly, in lieu of the payment of accrued Yield, on each Payment Date, the Lessor’s 's Invested Amount in respect of a the Construction Land Interest shall automatically be increased by the amount of Yield accrued on the Lessor’s 's Invested Amount in respect of such the Leased Property during the Rent Period ending immediately prior to such Payment Date (except to the extent that at any time such increase would cause the Lessor's Invested Amount to exceed the Lessor's Commitment, in which event the Lessee shall pay such excess amount to the Lessor in immediately available funds on such Payment Date). Such increases in Funded Amounts shall occur without any disbursement of funds by the Funding Parties and without the requirement that a Funding Request be delivered with respect theretoParties.
(d) Three (3) Business Days prior to the last day of each Rent Period, Concord the Lessee, as Construction Agent, shall deliver (which delivery may be by facsimile) to the Lessor and the Agent a notice substantially in the form of Exhibit I (each, a “"Payment --------- ------- Date Notice”"), appropriately completed, specifying the allocation of the ----------- Funded Amounts related to such Rent Period to LIBOR Advances and Base Rate Advances and the Rent Periods therefor, provided that no such allocation to LIBOR Advances shall be in an amount less than $500,000. Each such Payment Date Notice shall be irrevocable. If no such notice is given, the Funded Amounts shall be allocated to a LIBOR Advance with a Rent Period of three (3) months.
(e) The Lessee hereby agrees to pay to each Funding Party a facility fee for each day from the Closing Date until the Lease Termination Date equal to (i) 0.125% per annum times (ii) the amount of such Funding Party's Commitment on such day, times (iii) 1/360. Such facility fee shall be payable in arrears on each Quarterly Payment Date. During the Construction Term, in lieu of payment of the facility fee on each Quarterly Payment Date, each Lender's Funded Amount shall automatically be increased by the amount of the facility fee accrued during the three months immediately prior to such Quarterly Payment Date.
(f) In addition to the facility fee referenced in subparagraph (e) above, the Lessee hereby agrees to pay on the Closing Date the structuring fee and the Lender up-front fees set forth in the Term Sheet. The Lessee hereby further agrees to pay on the Closing Date and annually thereafter until the Lease Termination Date the Agent's fees and the Lessor's fees set forth in the Term Sheet (the structuring fee, the Lender up-front fees, the Agent's fees and the Lessor's fees, as set forth in the Term Sheet, being hereinafter collectively referred to as the "Additional Fees"). During the Construction Term, the proceeds of Advances may be used to pay the Additional Fees (which fees shall be included in the Construction Budget); thereafter, all such fees shall be payable by the Lessee.
(g) In accordance with that certain letter agreement by and between the Lessee and the Bond Trustee dated June 26, 2001, the Lessee hereby agrees to pay to the Bond Trustee an annual trustee's fee in an amount not to exceed $4,000.00, commencing on the Closing Date and continuing thereafter on each anniversary of the Closing Date until the Lease Termination Date.
Appears in 1 contract
Samples: Master Agreement (Jones Financial Companies Lp LLP)
Funded Amounts and Interest and Yield Thereon. (a) The Lessor’s 's Invested Amount for any Leased Property outstanding from time to time shall be allocated on a pro rata basis (based on the aggregate Funded Amounts), to the LIBOR Advances and the Base Rate Advances, and shall accrue yield (“"Yield”") at a rate equal to the Lessor sum of (i) the LIBOR Rate, plus (ii) the Applicable Margin per annum, in each case, computed using the actual number of days elapsed and a 360 day year. If all or a portion of the principal amount of or Yield yield on the Lessor’s 's Invested Amounts shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall, without limiting the rights of the Lessor under the Lease, to the maximum extent permitted by law, accrue Yield yield at the Overdue Rate, in each case from the date of nonpayment until paid in full (both as well after as before and after judgment). Any change in the Yield rate on the Lessor's Invested Amounts resulting from a change in the Alternative Rate shall become effective as of the opening of business on the day on which such Alternative Rate changes as provided in the definition thereof.
(b) Each Lender’s 's Funded Amount for any Leased Property outstanding from time to time shall accrue interest as provided in the Loan Agreement.
(c) During the Construction Term, in lieu of the payment of paying accrued interest, on each such Payment Date, so long as no Event of Default or Potential Event of Default then exists, each Lender’s 's Funded Amount in respect of a Construction Land Interest shall automatically be increased by the amount of interest accrued and unpaid on the related Loans pursuant to the Loan Agreement during the Rent Period quarter ending immediately prior to such Payment DateDate (except to the extent that at any time such increase would cause such Lender's Funded Amount to exceed such Lender's Commitment, in which event the Lessee shall pay such excess amount to such Lender in immediately available funds). Similarly, during the Construction Term, in lieu of the payment of paying accrued Yield, on each such Payment Date, so long as no Event of Default then exists, the Lessor’s 's Invested Amount in respect of a such Construction Land Interest shall automatically be increased by the amount of Yield accrued on the Lessor’s 's Invested Amount in respect of such Leased Property Land during the Rent Period quarter ending immediately prior to such Payment DateDate (except to the extent that at any time such increase would cause the Lessor's Invested Amount to exceed the Lessor's Commitment, in which event the Lessee shall pay such excess amount to the Lessor in immediately available funds). Such increases in Funded Amounts shall occur without any disbursement of funds by the Funding Parties and without the requirement that a Funding Request be delivered with respect thereto.
(d) Three Business Days prior to the last day of each Rent Period, Concord shall deliver (which delivery may be by facsimile) to the Lessor and the Agent a notice substantially in the form of Exhibit I (each, a “Payment Date Notice”), appropriately completed, specifying the allocation of the Funded Amounts related to such Rent Period to LIBOR Advances and Base Rate Advances and the Rent Periods therefor, provided that no such allocation to LIBOR Advances shall be in an amount less than $500,000. Each such Payment Date Notice shall be irrevocable. If no such notice is given, the Funded Amounts shall be allocated to a LIBOR Advance with a Rent Period of three (3) months.Funded
Appears in 1 contract
Samples: Master Agreement (Choicepoint Inc)
Funded Amounts and Interest and Yield Thereon. (a) The Lessor’s 's Invested Amount for any Leased Property outstanding from time to time shall be allocated on a pro rata basis (based on the aggregate Funded Amounts), to the LIBOR Advances and the Base Rate Advances, and shall accrue yield (“"Yield”") at a rate equal to (1) with respect to the Lessor portion thereof constituting a LIBOR Advance, the sum of (i) the Adjusted LIBO Rate, plus (ii) the Applicable Margin per annum, and (2) with respect to the portion thereof constituting a Base Rate Advance, the sum of (i) the Base Rate, plus (ii) the Applicable Margin, in each case, computed using the actual number of days elapsed and a 360 day year. If all or a portion of the principal amount of or Yield yield on the Lessor’s 's Invested Amounts shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall, without limiting the rights of the Lessor under the Lease, to the maximum extent permitted by law, accrue Yield yield at the Overdue Rate, from the date of nonpayment until paid in full (both before and after judgment). Any change in the Yield rate on the Lessor's Invested Amounts resulting from a change in the Base Rate shall become effective as of the opening of business on the day on which such Base Rate changes as provided in the definition thereof.
(b) Each Lender’s 's Funded Amount for any Leased Property outstanding from time to time shall accrue interest as provided in the Loan Agreement.
(c) During the Construction Term, in lieu of the payment of accrued interest, on each Payment Date, each Lender’s 's Funded Amount in respect of a Construction Land Interest shall automatically be increased by the amount of interest accrued and unpaid on the related Loans pursuant to the Loan Agreement during the Rent Period ending immediately prior to such Payment Date (except to the extent that at any time such increase would cause such Lender's Funded Amount to exceed such Lender's Commitment, in which event the Lessee shall pay such excess amount to such Lender in immediately available funds on such Payment Date). Similarly, during the Construction Term, in lieu of the payment of accrued Yield, on each Payment Date, the Lessor’s 's Invested Amount in respect of a such Construction Land Interest shall automatically be increased by the amount of Yield accrued on the Lessor’s 's Invested Amount in respect of such Leased Property Land during the Rent Period ending immediately prior to such Payment Date (except to the extent that at any time such increase would cause the Lessor's Invested Amount to exceed the Lessor's Commitment, in which event the Lessee shall pay such excess amount to the Lessor in immediately available funds on such Payment Date). Such increases in Funded Amounts shall occur without any disbursement of funds by the Funding Parties Parties, and without the requirement that need for delivery of a Funding Request be delivered with respect theretoRequest.
(d) Three Business Days prior to the last day of each Rent Period, Concord the Lessee shall deliver (which delivery may be by facsimile) to the Lessor and the Agent a notice substantially in the form of Exhibit I (each, a “"Payment Date Notice”"), appropriately completed, specifying the allocation of the Funded Amounts related to such Rent Period to LIBOR Advances and Base Rate Advances and the Rent Periods therefor, provided that no such allocation to LIBOR Advances shall be in an amount less than $500,000250,000. Each such Payment Date Notice shall be irrevocable. If no such notice is given, the Funded Amounts shall be allocated to a LIBOR Advance with a Rent Period of three (3) months.
(e) Lessee hereby agrees to pay to each Funding Party an unused fee (the "Unused Fee") for each day from the date hereof until the Funding Termination Date equal to (i) the Applicable Percentage per annum times (ii) the difference between such Funding Party's Commitment and its outstanding Lessor's Invested Amount or the principal of its outstanding Loans, as applicable, times (iii) 1/360. Such unused fee shall be payable with the proceeds of Advances in arrears on each Quarterly Payment Date and on the Funding Termination Date; on each such Quarterly Payment Date during the Construction Period and on the Funding Termination Date, each Funding Party's Funded Amount shall be automatically increased by its Commitment Percentage of the aggregate unused fee due on such date pursuant to this Section 2.3(e).
Appears in 1 contract
Samples: Master Agreement (Aaron Rents Inc)
Funded Amounts and Interest and Yield Thereon. (a) The Lessor’s 's Invested Amount for any Leased Property outstanding from time to time shall be allocated on a pro rata basis (based on the aggregate Funded Amounts), to the LIBOR Advances and the Base Rate Advances, and shall accrue yield (“"Yield”") at the Lessor Rate, computed using the actual number of days elapsed and a 360 day year. If all or a portion of the principal amount of or Yield yield on the Lessor’s 's Invested Amounts shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall, without limiting the rights of the Lessor under the Lease, to the maximum extent permitted by law, accrue Yield yield at the Overdue Rate, from the date of nonpayment until paid in full (both before and after judgment).
(b) Each Lender’s 's Funded Amount for any Leased Property outstanding from time to time shall accrue interest as provided in the Loan Agreement.
(c) During the Construction Term, in lieu of the payment of accrued interest, on each Payment Date, each Lender’s 's Funded Amount in respect of a Construction Land Interest shall automatically be increased by the amount of interest accrued and unpaid on the related Loans pursuant to the Loan Agreement during the Rent Period ending immediately prior to such Payment Date (except to the extent that at any time such increase would cause such Lender's Funded Amount to exceed such Lender's Commitment, in which event the related Lessee shall pay such excess amount to such Lender in immediately available funds on such Payment Date). Similarly, in lieu of the payment of accrued Yield, on each Payment Date, the Lessor’s 's Invested Amount in respect of a Construction Land Interest shall automatically be increased by the amount of Yield accrued on the Lessor’s 's Invested Amount in respect of such Leased Property during the Rent Period ending immediately prior to such Payment Date (except to the extent that at any time such increase would cause the Lessor's Invested Amount to exceed the Lessor's Commitment, in which event the related Lessee shall pay such excess amount to the Lessor in immediately available funds on such Payment Date). Such increases in Funded Amounts shall occur without any disbursement of funds by the Funding Parties and without the requirement that a Funding Request be delivered with respect theretoParties.
(d) Three Business Days prior to the last day of each Rent Period, Concord DAP SUB shall deliver (which delivery may be by facsimile) to the Lessor and the Agent a notice substantially in the form of Exhibit I (each, a “Payment Date Notice”), appropriately completed, specifying the allocation of the Funded Amounts related to such Rent Period to LIBOR Advances and Base Rate Advances and the Rent Periods therefor, provided that no such allocation to LIBOR Advances shall be in an amount less than $500,000. Each such Payment Date Notice shall be irrevocable. If no such notice is given, the Funded Amounts shall be allocated to a LIBOR Advance with a Rent Period of three (3) months.notice
Appears in 1 contract
Funded Amounts and Interest and Yield Thereon. (a) The Lessor’s 's Invested Amount for any Leased Property outstanding from time to time shall be allocated on a pro rata basis (based on the aggregate Funded Amounts), to the LIBOR Advances and the Base Rate Advances, and shall accrue yield (“"Yield”") at a rate equal to the Lessor sum of (i) the LIBOR Rate, plus (ii) the Applicable Margin per annum, in each case, computed using the actual number of days elapsed and a 360 day year. If all or a portion of the principal amount of or Yield yield on the Lessor’s 's Invested Amounts shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall, without limiting the rights of the Lessor under the Lease, to the maximum extent permitted by law, accrue Yield yield at the Overdue Rate, in each case from the date of nonpayment until paid in full (both as well after as before and after judgment). Any change in the Yield rate on the Lessor's Invested Amounts resulting from a change in the Alternative Rate shall become effective as of the opening of business on the day on which such Alternative Rate changes as provided in the definition thereof.
(b) Each Lender’s 's Funded Amount for any Leased Property outstanding from time to time shall accrue interest as provided in the Loan Agreement.
(c) During the Construction Term, in lieu of the payment of paying accrued interest, on each such Payment Date, so long as no Event of Default or Potential Event of Default then exists, each Lender’s 's Funded Amount in respect of a Construction Land Interest shall automatically be increased by the amount of interest accrued and unpaid on the related Loans pursuant to the Loan Agreement during the Rent Period quarter ending immediately prior to such Payment DateDate (except to the extent that at any time such increase would cause such Lender's Funded Amount to exceed such Lender's Commitment, in which event the Lessee shall pay such excess amount to such Lender in immediately available funds). Similarly, during the Construction Term, in lieu of the payment of paying accrued Yield, on each such Payment Date, so long as no Event of Default then exists, the Lessor’s 's Invested Amount in respect of a such Construction Land Interest shall automatically be increased by the amount of Yield accrued on the Lessor’s 's Invested Amount in respect of such Leased Property Land during the Rent Period quarter ending immediately prior to such Payment DateDate (except to the extent that at any time such increase would cause the Lessor's Invested Amount to exceed the Lessor's Commitment, in which event the Lessee shall pay such excess amount to the Lessor in immediately available funds). Such increases in Funded Amounts shall occur without any disbursement of funds by the Funding Parties and without the requirement that a Funding Request be delivered with respect theretoParties.
(d) Three Business Days prior to the last day of each Rent Period, Concord the Lessee shall deliver (which delivery may be by facsimile) to the Lessor and the Agent a notice substantially in the form of Exhibit I (each, a “"Payment Date Notice”"), appropriately completed, specifying the allocation of the Funded Amounts related to such Rent Period to LIBOR Advances and Base Rate Advances and the Rent Periods therefor, provided that no such allocation to LIBOR Advances shall be in an amount less than $500,000250,000. Each such Payment Date Notice shall be irrevocable. If no such notice is given, the Funded Amounts shall be allocated to a LIBOR Advance with a Rent Period of three (3) months.
Appears in 1 contract
Samples: Master Agreement (Choicepoint Inc)
Funded Amounts and Interest and Yield Thereon. (a) The Lessor’s 's Invested Amount for any Leased Property outstanding from time to time shall be allocated on a pro rata basis (based on the aggregate Funded Amounts), to the LIBOR Advances and the Base Rate Advances, and shall accrue yield (“Yield”) Yield at the Lessor Rate, computed using the actual number of days elapsed and a 360 day year. If all or a portion of the principal amount of or Yield on the Lessor’s 's Invested Amounts Amount shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall, without limiting the rights of the Lessor under the Lease, to the maximum extent permitted by law, accrue Yield at the Overdue Rate, from the date of nonpayment until paid in full (both before and after judgment).
(b) Each Lender’s 's Funded Amount for any Leased Property outstanding from time to time shall accrue interest as provided in the Loan Agreement.
(c) During the Construction Term, in lieu of the payment of accrued interest, on each Payment Date, each Lender’s 's Funded Amount in respect of a Construction Land Interest shall automatically be increased by the amount of interest accrued and unpaid on the related Loans pursuant to the Loan Agreement during the Rent Period ending immediately prior to such Payment Date. Similarly, in lieu of the payment of accrued Yield, on each Payment Date, the Lessor’s 's Invested Amount in respect of a Construction Land Interest shall automatically be increased by the amount of Yield accrued on the Lessor’s 's Invested Amount in respect of such Leased Property during the Rent Period ending immediately prior to such Payment Date. Such increases in Funded Amounts shall occur without any disbursement of funds by the Funding Parties and without the requirement that a Funding Request be delivered with respect thereto.
(d) Three Business Days prior to the last day of each Rent Period, Concord shall deliver (which delivery may be by facsimile) to the Lessor and the Agent a notice substantially in the form of Exhibit I (each, a “"Payment Date Notice”"), appropriately completed, specifying the allocation of the Funded Amounts related to such Rent Period to LIBOR Advances and Base Rate Advances and the Rent Periods therefor, provided that no such allocation to LIBOR Advances shall be in an amount less than $500,000. Each such Payment Date Notice shall be irrevocable. If no such notice is given, the Funded Amounts shall be allocated to a LIBOR Advance with a Rent Period of three (3) months.
Appears in 1 contract
Samples: Master Agreement (Concord Efs Inc)