Interest and Principal Payments. (a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate. (i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. (ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. (iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.
Appears in 2 contracts
Samples: Term Loan Credit Agreement (Western Refining, Inc.), Term Loan Credit Agreement (Western Refining, Inc.)
Interest and Principal Payments. (a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable RateMargin; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable RateMargin.
(i) If any amount of principal of any Term Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(ii) If any amount (other than principal of any Term Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.
(c) Interest on each portion of a Term Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.
Appears in 1 contract
Samples: Term Loan Agreement (Prologis)
Interest and Principal Payments. (a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate0.475%; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.
(i) If any amount of principal of any Term Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(ii) If any amount (other than principal of any Term Loan) payable by the a Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower Borrowers shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.
(c) Interest on each portion of a Term Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.
Appears in 1 contract
Samples: Term Loan Agreement (Prologis)
Interest and Principal Payments. (a) Subject Except as otherwise provided herein, interest on all Advances shall accrue at the Prime Rate, provided, that said interest rate shall not, in any event, be reduced to an interest rate that is less than 4.0% per annum. The interest rate shall be adjusted daily. Interest accrued on each Advance shall be paid to Lender in arrears on the first Business Day of the month immediately succeeding the month during which any Advance is made by Lender and on the first day of each and every month thereafter until such Advance is paid in full. Deposit Advances shall be paid in full on the date of closing of the acquisition of the respective Property or on the date of closing of permanent financing for a Property, as applicable. With respect to Notes evidencing Deposit Advances that are not paid in full prior to the provisions Termination Date, in the event that Borrower has not replaced this Facility with a facility provided by a different lender, or in the event that Lender has not renewed this Facility, Lender will extend the term of subsection the Note evidencing such Deposit Advance for an additional term, provided, that such additional term shall, in any and all events, mature not later than six (b6) below, months subsequent the Termination Date. Acquisition Advances shall be paid in full upon the earlier to occur of (i) each Eurodollar Rate Loan closing of the permanent financing for the respective Property, or (ii) six (6) months from the date on which such Acquisition Advance is made by Lender, provided, in the event that said 6-month term expires subsequent to the Termination Date , the maturity date of such Note shall bear be that date which is six (6) months subsequent to the date of execution of such Note. With respect to Notes evidencing Acquisition Advances that mature subsequent to the Termination Date, in the event that Borrower has not replaced this Facility with a facility provided by a different lender, or in the event that Lender has not renewed this Facility, Lender will extend the term of the Note evidencing such Acquisition Advance for an additional term not exceeding 364 calendar days from the initial maturity date for such Acquisition Advance (i) at an interest on rate not exceeding one percent (1.0%) greater than the outstanding Prime Rate, (ii) for a term not exceeding 364 calendar days from the initial maturity date of the Note executed in conjunction with such Acquisition Advance, and (iii) requiring payment of principal amount thereof for each Interest Period at and interest installments amortized over a rate per annum term equal to the Eurodollar Rate for such Interest Period plus remaining term of the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal Property Lease pertaining to the Base Rate plus Property with respect to which such Acquisition Advance was granted, provided, in the Applicable Rate.
event that such Property Lease includes a provision that permits termination of such Property Lease on a date (i“Early Termination Date”) If that precedes the scheduled maturity date of such Property Lease, such amortization term shall be reduced to a date that is coterminous with the Early Termination Date. Borrower or a Subsidiary may prepay all or any amount of principal part of any Loan is not paid when due Advance at any time upon ten (without regard 10) Business Days’ prior written notice to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, Lender. Each such amount notice shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to specify the Default Rate to prepayment date and the fullest extent permitted by applicable LawsAdvance being prepaid.
(ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.
(c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.
Appears in 1 contract
Samples: Revolving Credit Agreement (Government Properties Trust Inc)
Interest and Principal Payments. (a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.
(i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturityStated Maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturityStated Maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.
(c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.
Appears in 1 contract
Samples: Term Loan Credit Agreement (Western Refining, Inc.)
Interest and Principal Payments. (a) Subject to the provisions of subsection (b) below, (i) Interest on each Eurodollar Rate Loan shall bear interest Borrowing or on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Fixed Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.
(i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) Borrowing shall be due and payable upon demandas it accrues on the last day of its respective Interest Period and on the Termination Date and the Term Loan Maturity Date, as applicable; provided that if any Interest Period is a period greater than three (3) months, then accrued interest shall also be due and payable on each date that is AMENDED AND RESTATED 364-DAY REVOLVING CREDIT AND TERM LOAN AGREEMENT a multiple of three (3) months after the commencement of such Interest Period. Interest on each Base Rate Borrowing shall be due and payable as it accrues on each March 31, June 30, September 30, and December 31, and on the Termination Date and Term Loan Maturity Date.
(b) To the extent that the Principal Debt is not converted to a Term Loan on or prior to the Termination Date, Borrower shall pay on such Termination Date all outstanding Principal Debt not so converted to a Term Loan, together with all accrued and unpaid interest and fees.
(c) Interest on each To the extent any portion of the Principal Debt is converted to a Term Loan, the Principal Debt outstanding under the Term Loan shall be due and payable in arrears a single installment on each Interest Payment Date applicable thereto the Term Loan Maturity Date.
(d) On any date of determination, if the Principal Debt exceeds the Commitment then in effect, or if the Swing Line Principal Debt exceeds the Swing Line Commitment then in effect, then Borrower shall make a mandatory prepayment of the Principal Debt in at least the amount of such excess, together with (i) all accrued and unpaid interest on the principal amount so prepaid and (ii) any Consequential Loss arising as a result thereof.
(e) After giving Administrative Agent advance written notice of the intent to prepay, Borrower may voluntarily prepay all or any part of the Principal Debt from time to time and at any time, in whole or in part, without premium or penalty; provided that: (i) such other times as may notice must be specified herein. Interest hereunder received by Administrative Agent by 12:00 noon Dallas, Texas time on (A) the third Business Day preceding the date of prepayment of a Eurodollar Rate Borrowing, and (B) one Business Day preceding the date of prepayment of a Base Rate Borrowing; (ii) each such partial prepayment must be in a minimum amount of at least $5,000,000 or a greater integral multiple of $1,000,000 thereof (if a Eurodollar Rate Borrowing or a Base Rate Borrowing), or $250,000 or an integral multiple thereof (if a Swing Line Borrowing); (iii) all accrued interest on the Obligation must also be paid in full, to the date of such prepayment; (iv) Borrower shall pay any related Consequential Loss within ten (10) days after demand therefor; and (v) notwithstanding the provisions of this SECTION 3.2(D), prepayments of any Swing Line Borrowing shall be due and payable made in accordance with SECTION 2.2(H). Each notice of prepayment shall specify the terms hereof before prepayment date, the facility or the subfacility hereunder being prepaid, the Type of Borrowing(s) and after judgmentamount(s) of such Borrowing(s) to be prepaid and shall constitute a binding obligation of Borrower to make a prepayment on the date stated therein. Notwithstanding the foregoing, and before and after Borrower shall not voluntarily prepay any Competitive Borrowing prior to the commencement last day of any proceeding under any Debtor Relief Lawthe Interest Period therefor.
Appears in 1 contract
Samples: 364 Day Revolving Credit and Term Loan Agreement (Mci Worldcom Inc)
Interest and Principal Payments. (a) Subject to Borrower shall pay all sums due under the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.Note in installments as follows:
(i) If any amount a payment of interest only on the tenth (10th) day of September, 1997, for interest accruing for the period commencing on and including the date of the Note and continuing through and including the ninth day of September, 1997; and
(ii) monthly payments in the amounts set forth on Schedule 10 attached hereto and made a part hereof (each, the "Monthly Debt Service Payment Amount") on October 10, 1997 and on the tenth day of each calendar month thereafter up to and including the Maturity Date (each, a "Payment Date"); each Monthly Debt Service Payment Amount shall be applied first, to the payment of interest computed at the Regular Interest Rate, and the balance toward the reduction of the outstanding principal balance of any the Note.
(b) From and after the Anticipated Payment Date, interest shall accrue on the unpaid principal balance of the Note at the Matured Performing Rate. Each Monthly Debt Service Payment Amount paid after the Anticipated Payment Date shall be applied first, to the payment of interest computed at the Regular Interest Rate and the balance, if any, toward the reduction of the outstanding principal balance of the Note; interest accrued at the Matured Performing Rate shall be deferred and added to the Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount and shall thereafter bear earn interest at a fluctuating interest rate per annum at all times equal to the Default Matured Performing Rate to the fullest extent permitted by applicable Laws.
law (ii) If any amount (other than such accrued interest is hereinafter defined as "Accrued Interest"). In addition to such payments of principal of any Loan) payable by the and interest, Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request shall make payments in reduction of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii) Upon the request outstanding principal balance of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest Note in monthly installments beginning on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.
(c) Interest on each Loan shall be due and payable in arrears on each Interest Anticipated Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due on the tenth day of each calendar month thereafter up to and payable including the Maturity Date in accordance with the terms hereof before and after judgment, and before and after the commencement provisions of any proceeding under any Debtor Relief LawSection 2.13.
Appears in 1 contract
Samples: Loan Agreement (Sun Communities Inc)
Interest and Principal Payments. Installments of interest only shall be due and payable in arrears on or before the fifth (a5th) Subject to day of each calendar month during the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest term hereof commencing on the 5th day of March, 1996 and on the 5th day of each succeeding month thereafter until the termination of the Loan Agreement (as hereafter defined) or should an event of default occur as defined in the Loan Agreement at which time the entire outstanding principal balance together with all accrued and unpaid interest shall be due and payable without demand. Interest on the principal amount thereof for each Interest Period hereof from time to time outstanding, shall be at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and greater of seven percent (ii7%) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate or two percent (2%) per annum equal to above the Base Rate plus (as hereinafter defined) in effect from time to time (herein, the Applicable "STATED RATE"), from the date hereof until such principal amount is paid in full. The Stated Rate shall change from time to time in accordance with changes in the Base Rate.
(i) If . Borrower further agrees to pay interest on any amount of principal of any Loan and interest which is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise), from the date on which such amount shall thereafter bear interest is due until such amount is paid in full, payable on demand, at a fluctuating interest rate per annum annum, in lieu of the Stated Rated, equal at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
three percent (ii3%) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal above the Stated Rate (the "DEFAULT RATE"). "BASE RATE" shall mean prime which is announced from time to time in the Default Rate to the fullest extent permitted by applicable Laws.
Wall Street Journal (iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.
(c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at or such other times prime rate as may be specified herein. Interest hereunder Lender shall be due and payable designate from time to time in accordance the event the Wall Street Journal ceases to publish such rate) (with the terms hereof before and after judgmentunderstanding that any such rates may merely serve as a basis upon which effective rates of interest are calculated for loans making reference thereto, and before and after that such rates are not necessarily the commencement of lowest or best rates at which any proceeding under any Debtor Relief Lawbank or other financial institution calculates interest or extends credit).
Appears in 1 contract
Samples: Provider Revolving Loan Agreement (Hospital Staffing Services Inc)
Interest and Principal Payments. (a) Subject to Borrower shall pay all sums due under the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.Note in installments as follows:
(i) If any amount a payment of interest only on the tenth (10th) day of September, 1997, for interest accruing for the period commencing on and including the date of the Note and continuing through and including the ninth day of September; and
(ii) monthly payments in the amounts set forth on Schedule 6 attached hereto and made a part hereof (each, the "Monthly Debt Service Payment Amount") on October 10, 1997 and on the tenth day of each calendar month thereafter up to and including the Maturity Date (each, a "Payment Date"); each Monthly Debt Service Payment Amount shall be applied first, to the payment of interest computed at the Regular Interest Rate, and the balance toward the reduction of the outstanding principal balance of any the Note.
(b) From and after the Anticipated Payment Date, interest shall accrue on the unpaid principal balance of the Note at the Matured Performing Rate. Each Monthly Debt Service Payment Amount paid after the Anticipated Payment Date shall be applied first, to the payment of interest computed at the Regular Interest Rate and the balance, if any, toward the reduction of the outstanding principal balance of the Note; interest accrued at the Matured Performing Rate shall be deferred and added to the Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount and shall thereafter bear earn interest at a fluctuating interest rate per annum at all times equal to the Default Matured Performing Rate to the fullest extent permitted by applicable Laws.
law (ii) If any amount (other than such accrued interest is hereinafter defined as "Accrued Interest"). In addition to such payments of principal of any Loan) payable by the and interest, Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request shall make payments in reduction of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii) Upon the request outstanding principal balance of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest Note in monthly installments beginning on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.
(c) Interest on each Loan shall be due and payable in arrears on each Interest Anticipated Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due on the tenth day of each calendar month thereafter up to and payable including the Maturity Date in accordance with the terms hereof before and after judgment, and before and after the commencement provisions of any proceeding under any Debtor Relief LawSection 2.13.
Appears in 1 contract
Samples: Loan Agreement (Sun Communities Inc)
Interest and Principal Payments. (a) Subject Interest on the outstanding principal amount of the Credit Facility shall accrue at a rate equal to the provisions of subsection (b) below, (i) each Eurodollar the LIBOR Rate Loan or the LIBOR Advantage Rate, as selected by Borrower, plus (ii) the Applicable Margin. Interest shall bear be calculated on the basis of the actual number of days elapsed over a year of three hundred sixty (360) days. Notwithstanding anything contained herein to the contrary, all of the provisions contained in Exhibit B attached hereto shall apply to the Credit Facility. In the event that there are any inconsistencies between the terms of this Agreement and the terms contained in Exhibit B attached hereto, the terms contained in Exhibit B shall control. If Borrower does not select a LIBOR Rate or the LIBOR Advantage Rate, the Prime Rate shall apply, and interest on the outstanding principal amount thereof for each Interest Period of the Credit Facility shall accrue at a rate per annum equal to (i) the Prime Rate plus (ii) the Prime Rate Margin.
(b) Commencing on the first Interest Payment Date after the date of the initial Advance and on each consecutive Interest Payment Date thereafter until and including the Interest Payment Date in August 2018, a payment shall be made equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear sum of accrued interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.
(i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request balance of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the Credit Facility. The entire unpaid principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv) Accrued Credit Facility, together with accrued and unpaid interest on past due thereon and all other amounts (including interest on past due interest) shall be due and payable upon demand.
(c) Interest on each Loan in connection with the Credit Facility, shall be due and payable in arrears full on each Interest Payment Date applicable thereto the Termination Date. All capitalized terms used in this Section 2.1.3 and at not otherwise defined in this Agreement shall have the meanings ascribed to such other times as may be specified herein. Interest hereunder shall be due and payable terms in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.Exhibit B.
Appears in 1 contract
Interest and Principal Payments. (a) Subject to Interest on each Eurodollar Rate Borrowing or on each Fixed Rate Borrowing shall be due and payable as it accrues on the provisions last day of subsection its respective Interest Period and on the Facility A Termination Date, as applicable; provided that if any Interest Period is a period greater than three (3) months, then accrued interest shall also be due and payable on the date three (3) months after the commencement of such Interest Period. Interest on each Base Rate Borrowing shall be due and payable as it accrues on each March 31, June 30, September 30, and December 31, and on the Facility A Termination Date.
(b) belowThe Facility A Commitment shall be permanently canceled and reduced to $0 on the Facility A Termination Date, and Borrower shall pay on such Facility A Termination Date all outstanding Facility A Principal Debt, together with all accrued and unpaid interest and fees.
(c) On any date of determination, if the Facility A Commitment Usage exceeds the Facility A Commitment then in effect (whether as a result of fluctuations in exchange rates or otherwise), or if the Swing Principal Debt exceeds the Swing Line Subfacility then in effect, then Borrower shall make a mandatory prepayment of the Facility A Principal Debt in at least the amount of such excess, together with (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; all accrued and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.
(i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay unpaid interest on the principal amount of all outstanding Obligations hereunder at so prepaid and (ii) any Consequential Loss arising as a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Lawsresult thereof.
(ivd) Accrued After giving Administrative Agent advance written notice of the intent to prepay, Borrower may voluntarily prepay all or any part of the Facility A Principal Debt from time to time and unpaid at any time, in whole or in part, without premium or penalty; provided that: (i) such notice must be received by Administrative Agent by 12:00 noon Dallas, Texas time on (A) the third Business Day preceding the date of prepayment of a Eurodollar Rate Borrowing, and (B) one Business Day preceding the date of prepayment of a Base Rate Borrowing; (ii) each such partial prepayment must be in a minimum amount of at least $5,000,000 or a greater integral multiple of $1,000,000 thereof (if a Eurodollar Rate Borrowing or a Base Rate Borrowing), or $250,000 or an integral multiple thereof (if a Swing Line Borrowing); (iii) all accrued interest on past due amounts (including interest on past due interest) shall the Obligation must also be due and payable upon demand.
(c) Interest on each Loan shall be due and payable paid in arrears on each Interest Payment Date applicable thereto and at full, to the date of such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.prepayment; and
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Interest and Principal Payments. Document Number: 1345735 -43-
(a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.
(i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturityStated Maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturityStated Maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.
(c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.
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Samples: Term Loan Credit Agreement (Western Refining, Inc.)
Interest and Principal Payments. (a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.
(i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.
(c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.
(d) The Outstanding Amount is due and payable in quarterly installments of $500,000 each, commencing December 30, 2005, and continuing thereafter on the last day of each March, June, September and December, with a final payment due on the Maturity Date in an amount equal to the Outstanding Amount as of such date, together with accrued and unpaid interest thereon.
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