Interest and Commitment Fees Sample Clauses
Interest and Commitment Fees. (a) Each Loan shall bear interest on the outstanding principal amount thereof from the applicable Borrowing Date at a rate per annum equal to the Offshore Rate plus the Applicable Margin or the Base Rate plus the Applicable Margin, as the case may be (and subject to each Borrower's right to convert to other Types of Loans under Section 2.4).
(b) Each Borrower shall pay interest on each Loan made to it in arrears on each Interest Payment Date. Interest shall also be paid by each Borrower on the date of any prepayment of Loans made to such Borrower under Section 2.6 or 2.7 for the portion of the Loans so prepaid and upon payment (including prepayment) in full thereof and, during the existence of any Event of Default, interest shall be paid by the Borrowers on demand of the Bank.
(c) Notwithstanding subsection (a) of this Section, while any Event of Default exists or after acceleration, each Borrower shall pay interest (after as well as before entry of judgment thereon to the extent permitted by law) on the principal amount of all outstanding Obligations owing by such Borrower, at a rate per annum which is determined by adding 2% per annum to the sum of the rate then in effect for such Loans plus the Applicable Margin and, in the case of Obligations not subject to an Applicable Margin, at a rate per annum equal to the Base Rate plus 2%; provided, however, that, on and after the expiration of any Interest Period applicable to any Offshore Rate Loan outstanding on the date of occurrence of such Event of Default or acceleration, the principal amount of such Loan shall, during the continuation of such Event of Default or after acceleration, bear interest at a rate per annum equal to the Base Rate plus 2%.
(d) Anything herein to the contrary notwithstanding, the obligations of each Borrower to the Bank hereunder shall be subject to the limitation that payments of interest by such Borrower shall not be required for any period for which interest is computed hereunder, to the extent (but only to the extent) that contracting for or receiving such payment by the Bank would be contrary to the provisions of any law applicable to the Bank limiting the highest rate of interest that may be lawfully contracted for, charged or received by the Bank, and in such event such Borrower shall pay the Bank interest at the highest rate permitted by applicable law.
(e) Middleby shall pay to the Bank a commitment fee accruing at the rate per annum then applicable in the determination of...
Interest and Commitment Fees. 27 2.10 Computation of Fees and Interest . . . . . . . . . . . . . . . . . 29 2.11 Payments by the Borrowers. . . . . . . . . . . . . . . . . . . . . 29 2.12 Amount and Terms of Letters of Credit. . . . . . . . . . . . . . . 30
Interest and Commitment Fees. The Borrower shall have paid to the Agent, for the ratable account of the Lenders immediately prior to the Effective Date, all accrued and unpaid interest on the Existing Term Loans to, but not including, the Effective Date.
Interest and Commitment Fees. Substantially concurrently with the Closing Date, the Administrative Agent, for the benefit of the “Lenders” under and as defined in the Existing Credit Agreement immediately prior to the Closing Date, shall have received all accrued and unpaid interest and commitment fees under the Existing Credit Agreement to (but excluding) the Closing Date.
Interest and Commitment Fees. Nothwithstanding anything in any Credit Document to the contrary, but subject to the further provisions of this Agreement:
(a) Interest shall accrue on Loans made available as Domestic Rate Loans (x) through the Standstill Period at the rate per annum determined by adding the Domestic Rate Spread to the Domestic Rate as from time to time in effect (payable monthly on the last day of each calendar month) and (y) after the Standstill Period until paid at the rate per annum determined by adding 2% to the Domestic Rate from time to time in effect plus the Domestic Rate Spread (payable on demand).
(b) Interest shall accrue on Loans made available as Eurodollar Loans (x) through the Standstill Period at the rate per annum determined by adding the Eurocurrency Spread to the Eurocurrency Rate as from time to time in effect (payable on the last day of the relevant Interest Period, but in no event less often than monthly, as set forth in the Credit Agreement) and (y) after the Standstill Period until paid at the rate per annum determined by adding 2% to the Eurocurrency Rate as from time to time in effect plus the Eurocurrency Rate Spread (payable on demand).
(c) For purposes of the Credit Agreement and this Agreement, the term "DOMESTIC RATE SPREAD" shall mean (x) 1.75% on Domestic Rate Loans to the extent not in excess of the difference between $70,000,000 and the Letters of Credit then outstanding and (y) 1.25% on Domestic Rate Loans ("EXCESS DOMESTIC RATE LOANS") in excess of such difference; PROVIDED, HOWEVER, that the Domestic Rate Spread on Excess Domestic Rate Loans shall be subject to reduction pursuant to paragraph 6 below. Also for purposes of the Credit Agreement and this Agreement, the term "EURODOLLAR SPREAD" shall mean 4.25%; PROVIDED, HOWEVER, that the Eurodollar Spread shall be subject to reduction pursuant to paragraph 6 below.
Interest and Commitment Fees