Common use of Interest; Computation of Interest Clause in Contracts

Interest; Computation of Interest. (a) Each Loan shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Interest Rate on Excess Reserves in effect on the day such Loan is made. (b) Interest payable on each Loan pursuant hereto shall be calculated by the Administrator on the basis of a 365-day year for the actual number of days elapsed, during the period from but excluding the Funding Date for such Loan to and including the Repayment Date for such Loan. Each determination of the interest rate and each calculation of the amount of accrued interest, in each case by the Administrator pursuant to any provision of this Agreement, shall be conclusive and binding on the Borrower and the Lender in the absence of manifest error. On each Business Day, the Borrower shall, upon receipt from the Administrator of such information, notify the Custodian, the Manager, the Lender and the Managing Member, for each Loan outstanding on such date, the outstanding principal amount thereof and accrued interest thereon, in each case, as of such date. (c) Interest shall accrue on a daily basis on the outstanding principal amount of each Loan until the outstanding principal amount of such Loan is paid in full. Interest accrued on the outstanding principal balance of each Loan shall be payable in arrears on the related Repayment Date for such Loan; provided that in the event of any repayment of any Loan (whether mandatory, voluntary, automatic, by reason of acceleration or default or otherwise) on a date that is not the related Repayment Date, interest accrued from but excluding the related Funding Date to and including the date of such repayment on the principal amount repaid shall be payable on the date of such repayment. (d) If any amount payable by the Borrower to the Lender under any Loan Document is not paid when due (without regard to any applicable grace periods), whether on a Repayment Date, at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at an interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable law, which interest shall accrue from the date such overdue amount was originally due to the date of payment in full of such amount, including interest thereon, has been made to the Lender. Accrued and unpaid interest on past due amounts, including interest on interest, shall be due and payable upon demand. 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 bankruptcy, insolvency, reorganization, moratorium or similar law affecting the enforcement of creditors’ rights generally.

Interest; Computation of Interest. (a) Each Loan shall bear interest accruing on each day on the outstanding principal amount thereof at a rate per annum equal to the Interest Rate on Excess Reserves as in effect on the day such Loan is madeday. (b) Interest payable on each Loan pursuant hereto shall be calculated by the Administrator on the basis of a 365-day year for the actual number of days elapsed, during the period from but excluding the Funding Date for such Loan to and including the Repayment Settlement Date for on which such LoanLoan is paid or prepaid (and in respect of a Loan paid or prepaid in part, interest shall be payable on the portion of the amount paid or prepaid through the date of payment). Each determination of the interest rate and each calculation of the amount of accrued interest, in each case by the Administrator in consultation with the Lender and the Managing Member pursuant to any provision of this Agreement, shall be conclusive and binding on the Borrower and the Lender in the absence of manifest error. On each Business Day, the Borrower shall, upon receipt from the Administrator of such information, notify shall provide a report to the Custodian, the ManagerManagers, the Lender Lender, the Borrower and the Managing Member, for each Loan outstanding on such date, the outstanding principal amount thereof and accrued interest thereon, in each case, as of such date. (c) Interest shall accrue on a daily basis on the outstanding principal amount of each Loan until the outstanding principal amount of such Loan is paid in full. Interest accrued on the outstanding principal balance of each Loan shall be payable in arrears on the related Repayment Date for such Loan; provided that in the event of any repayment of any Loan (whether mandatory, voluntary, automatic, by reason of acceleration or default or otherwise) on a date that is not the related Repayment Date, interest accrued from but excluding the related Funding Date to and including the date of such repayment on the principal amount repaid shall be payable on the date of such repayment. (d) If any amount payable by the Borrower to the Lender under any Loan Document is not paid when due (without regard to any applicable grace periods), whether on a Repayment Settlement Date, at stated maturity, by acceleration or otherwiseotherwise (but other than solely due to the occurrence of any Extended Settlement Date in accordance with Section 2.8(a)), such amount shall thereafter bear interest at an interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable law, which interest shall accrue from the date such overdue amount was originally due to the date of payment in full of such amount, including interest thereon, has been made to the Lender. Accrued and unpaid interest on past due amounts, including interest on interest, shall be due and payable upon demand. 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 bankruptcy, insolvency, reorganization, moratorium or similar law affecting the enforcement of creditors’ rights generally.

Interest; Computation of Interest. (a) Each Loan shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Interest Rate on Excess Reserves in effect on the day such Loan is made. (b) Interest payable on each Loan pursuant hereto shall be calculated by the Administrator on the basis of a 365-day year for the actual number of days elapsed, during the period from but excluding the Funding Date for such Loan to and including the Repayment Date for such Loan. Each determination of the interest rate and each calculation of the amount of accrued interest, in each case by the Administrator pursuant to any provision of this Agreement, shall be conclusive and binding on the Borrower and the Lender in the absence of manifest error. On each Business Day, the Borrower shall, upon receipt from the Administrator of such information, notify the Custodian, the Manager, the Lender and the Managing Member, for each Loan outstanding on such date, the outstanding principal amount thereof and accrued interest thereon, in each case, as of such date. (c) Interest shall accrue on a daily basis on the outstanding principal amount of each Loan until the outstanding principal amount of such Loan is paid in full. Interest accrued on the outstanding principal balance of each Loan shall be payable in arrears on the related Repayment Date for such Loan; provided that in the event of any repayment of any Loan (whether mandatory, voluntary, automatic, by reason of acceleration or default or otherwise) on a date that is not the related Repayment Date, interest accrued from but excluding the related Funding Date to and including the date of such repayment on the principal amount repaid shall be payable on the date of such repayment. (d) If any amount payable by the Borrower to the Lender under any Loan Document is not paid when due (without regard to any applicable grace periods), whether on a Repayment Date, at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at an interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable law, which interest shall accrue from the date such overdue amount was originally due to the date of payment in full of such amount, including interest thereon, has been made to the Lender. Accrued and unpaid interest on past due amounts, including interest on interest, shall be due and payable upon demand. 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 bankruptcy, insolvency, reorganization, moratorium or similar law affecting the enforcement of creditors’ rights generally.

Interest; Computation of Interest. (a) Each Loan shall bear interest accruing on each day on the outstanding principal amount thereof at a rate per annum equal to the Interest Rate on Excess Reserves as in effect on the day such Loan is madeday. (b) Interest payable on each Loan pursuant hereto shall be calculated by Administrator in accordance with the Administrator Custody and Administration Agreement on the basis of a 365-day year for the actual number of days elapsed, during the period from but excluding the Funding Date for such Loan to and including the Repayment Settlement Date for on which such LoanLoan is paid or prepaid (and in respect of a Loan paid or prepaid in part, interest shall be payable on the portion of the amount paid or prepaid through the date of payment). Each determination of the interest rate and each calculation of the amount of accrued interest, in each case by the Administrator in consultation with Lender and Managing Member pursuant to any provision of this Agreement, shall be conclusive and binding on the Borrower and the Lender in the absence of manifest error. On each Business Day, the Borrower shall, upon receipt from the Administrator of such information, notify the shall provide a report to Custodian, the ManagerLender, the Lender Borrower and the Managing Member, for each Loan outstanding on such date, the outstanding principal amount thereof and accrued interest thereon, in each case, as of such datedate in accordance with the provisions of the Custody and Administration Agreement. (c) Interest shall accrue on a daily basis on the outstanding principal amount of each Loan until the outstanding principal amount of such Loan is paid in full. Interest accrued on the outstanding principal balance of each Loan shall be payable in arrears on the related Repayment Date for such Loan; provided that in the event of any repayment of any Loan (whether mandatory, voluntary, automatic, by reason of acceleration or default or otherwise) on a date that is not the related Repayment Date, interest accrued from but excluding the related Funding Date to and including the date of such repayment on the principal amount repaid shall be payable on the date of such repayment. (d) If any amount payable by the Borrower to the Lender under any Loan Document is not paid when due (without regard to any applicable grace periods), whether on a Repayment Settlement Date, at stated maturity, by acceleration or otherwiseotherwise (but other than solely due to the occurrence of any Extended Settlement Date in accordance with Section 2.8(a)), such amount shall thereafter bear interest at an interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable law, which interest shall accrue from the date such overdue amount was originally due to the date of payment in full of such amount, including interest thereon, has been made to the Lender. Accrued and unpaid interest on past due amounts, including interest on interest, shall be due and payable upon demand. 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 bankruptcy, insolvency, reorganization, moratorium or similar law affecting the enforcement of creditors’ rights generally.

Interest; Computation of Interest. (a) Each Loan shall bear interest accruing on each day on the outstanding principal amount thereof at a rate per annum equal to the Interest Rate on Excess Reserves Rate in effect on the day such Loan is made. (b) Interest payable on each Loan pursuant hereto shall be calculated by the Administrator on the basis of a 365-day year for the actual number of days elapsed, during the period from but excluding the Funding Date for such Loan to and including the Repayment Settlement Date for on which such LoanLoan is paid or prepaid (and in respect of a Loan paid or prepaid in part, interest shall be payable on the portion of the amount paid or prepaid through the date of payment). Each determination of the interest rate and each calculation of the amount of accrued interest, in each case by the Administrator in consultation with Lender and Managing Member pursuant to any provision of this Agreement, shall be conclusive and binding on the Borrower and the Lender in the absence of manifest error. On each Business Day, the Borrower shall, upon receipt from the Administrator of such information, notify the Custodian, the Manager, the Lender and the Managing Member, for each Loan outstanding on such date, the outstanding principal amount thereof and accrued interest thereon, in each case, as of such date. (c) Interest shall accrue on a daily basis on the outstanding principal amount of each Loan until the outstanding principal amount of such Loan is paid in full. Interest accrued on the outstanding principal balance of each Loan shall be payable in arrears on the related Repayment Date for such Loan; provided that in the event of any repayment of any Loan (whether mandatory, voluntary, automatic, by reason of acceleration or default or otherwise) on a date that is not the related Repayment Date, interest accrued from but excluding the related Funding Date to and including the date of such repayment on the principal amount repaid shall be payable on the date of such repayment. (d) If any amount payable by the Borrower to the Lender under any Loan Document is not paid when due (without regard to any applicable grace periods), whether on a Repayment Settlement Date, at stated maturity, by acceleration or otherwiseotherwise (but other than solely due to the occurrence of any Extended Settlement Date in accordance with Section 2.8(a)), such amount shall thereafter bear interest at an interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable law, which interest shall accrue from the date such overdue amount was originally due to the date of payment in full of such amount, including interest thereon, has been made to the Lender. Accrued and unpaid interest on past due amounts, including interest on interest, shall be due and payable upon demand. 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 bankruptcy, insolvency, reorganization, moratorium or similar law affecting the enforcement of creditors’ rights generally.

Interest; Computation of Interest. (ai) Each Loan Credit Extension shall bear interest on the outstanding principal amount thereof from the date when made until paid in full at a rate per annum equal to the Applicable Interest Rate. Each Lender may, upon the failure of Borrower to pay any fees or interest as required herein, capitalize such interest CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. ​ and fees and begin to accrue interest thereon until paid in full, which such interest shall be at a rate per annum equal to the Applicable Interest Rate on Excess Reserves in effect unless and until the Default Rate shall otherwise apply. All other Obligations shall bear interest on the day such Loan is made. (b) outstanding amount thereof from the date they first become payable by Borrower under the Financing Documents until paid in full at a rate per annum equal to the Applicable Interest Rate unless and until the Default Rate shall otherwise apply. Interest on the Credit Extensions and all fees payable on each Loan pursuant hereto under the Financing Documents shall be calculated by the Administrator computed on the basis of a 365-three hundred sixty (360) day year for and the actual number of days elapsed, during elapsed in the period from but excluding the Funding Date for during which such Loan to and including the Repayment Date for such Loaninterest accrues. Each determination of the In computing interest rate and each calculation of the amount of accrued intereston any Credit Extension or other advance, in each case by the Administrator pursuant to any provision of this Agreement, shall be conclusive and binding on the Borrower and the Lender in the absence of manifest error. On each Business Day, the Borrower shall, upon receipt from the Administrator of such information, notify the Custodian, the Manager, the Lender and the Managing Member, for each Loan outstanding on such date, the outstanding principal amount thereof and accrued interest thereon, in each case, as of such date. (c) Interest shall accrue on a daily basis on the outstanding principal amount of each Loan until the outstanding principal amount of such Loan is paid in full. Interest accrued on the outstanding principal balance of each Loan shall be payable in arrears on the related Repayment Date for such Loan; provided that in the event of any repayment of any Loan (whether mandatory, voluntary, automatic, by reason of acceleration or default or otherwise) on a date that is not the related Repayment Date, interest accrued from but excluding the related Funding Date to and including the date of the making of such repayment on the principal amount repaid Credit Extension or advance shall be payable on the date of such repayment. (d) If any amount payable by the Borrower to the Lender under any Loan Document is not paid when due (without regard to any applicable grace periods), whether on a Repayment Date, at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at an interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable law, which interest shall accrue from the date such overdue amount was originally due to included and the date of payment shall be excluded; provided, however, that if any Credit Extension or advance is repaid on the same day on which it is made, such day shall be included in full computing interest on such Credit Extension or advance. As of each Applicable Interest Rate Determination Date, Agent shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the Credit Extensions. (ii) In the event one or more of the following events occurs with respect to Term SOFR: (a) a public statement or publication of information by or on behalf of the SOFR Administrator announcing that the SOFR Administrator has ceased or will cease to provide Term SOFR for a 1-month period, permanently or indefinitely, provided that, at the time of such amountstatement or publication, including there is no successor administrator that will continue to provide Term SOFR for a 1-month period; (b) a public statement or publication of information by the regulatory supervisor for the SOFR Administrator, the Federal Reserve Board, the Federal Reserve Bank of New York, an insolvency official or resolution authority with jurisdiction over the SOFR Administrator, or a court or an entity with similar insolvency or resolution authority, which states that the SOFR Administrator has ceased or will cease to provide Term SOFR for a 1-month period permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide Term SOFR for a 1-month period; or (c) a public statement or publication of information by the regulatory supervisor for the SOFR Administrator announcing that Term SOFR for a 1-month period is no longer, or as of a specified future date will no longer be, representative and Agent has provided Borrower with notice of the same, any outstanding affected SOFR Loans will be deemed to have been converted to Credit Extensions that bear interest thereonat a rate based on the Applicable Prime Rate at the end of the Applicable Interest Period. (iii) In connection with Term SOFR, has been made Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the Lender. Accrued and unpaid interest on past due amountscontrary herein or in any other Financing Document, including interest on interest, shall be due and payable upon demand. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement any amendments implementing such Conforming Changes will become effective without any further action or consent of any proceeding under other party to this Agreement or any bankruptcy, insolvency, reorganization, moratorium or similar law affecting other Financing Document. Agent will promptly notify Borrower and the enforcement Lenders of creditors’ rights generallythe effectiveness of any Conforming Changes.

Interest; Computation of Interest. (a) Each Loan Credit Extension shall bear interest on the outstanding principal amount thereof from the date when made until paid in full at a rate per annum equal to the Interest Applicable Index Rate on Excess Reserves plus the Applicable Margin. For all Credit Extensions made in effect respect of a Credit Facility, the Applicable Margin is as specified in the Credit Facility Schedule for such Credit Facility. Each Lender may, upon the failure of Borrower to pay any fees or interest as required herein, capitalize such interest and fees and begin to accrue interest thereon until paid in full, which such interest shall be at a rate per annum equal to the Applicable Index Rate plus the Applicable Margin unless and until the Default Rate shall otherwise apply. All other Obligations shall bear interest on the day such Loan is made. (b) outstanding amount thereof from the date they first become payable by Borrower under the Financing Documents until paid in full at a rate per annum equal to the Applicable Index Rate plus the Applicable Margin unless and until the Default Rate shall otherwise apply. Interest on the Credit Extensions and all fees payable on each Loan pursuant hereto under the Financing Documents shall be calculated by the Administrator computed on the basis of a 365360-day year for and the actual number of days elapsed, during elapsed in the period from but excluding the Funding Date for during which such Loan to and including the Repayment Date for such Loaninterest accrues. Each determination of the In computing interest rate and each calculation of the amount of accrued intereston any Credit Extension or other advance, in each case by the Administrator pursuant to any provision of this Agreement, shall be conclusive and binding on the Borrower and the Lender in the absence of manifest error. On each Business Day, the Borrower shall, upon receipt from the Administrator of such information, notify the Custodian, the Manager, the Lender and the Managing Member, for each Loan outstanding on such date, the outstanding principal amount thereof and accrued interest thereon, in each case, as of such date. (c) Interest shall accrue on a daily basis on the outstanding principal amount of each Loan until the outstanding principal amount of such Loan is paid in full. Interest accrued on the outstanding principal balance of each Loan shall be payable in arrears on the related Repayment Date for such Loan; provided that in the event of any repayment of any Loan (whether mandatory, voluntary, automatic, by reason of acceleration or default or otherwise) on a date that is not the related Repayment Date, interest accrued from but excluding the related Funding Date to and including the date of the making of such repayment on the principal amount repaid Credit Extension or advance shall be payable on the date of such repayment. (d) If any amount payable by the Borrower to the Lender under any Loan Document is not paid when due (without regard to any applicable grace periods), whether on a Repayment Date, at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at an interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable law, which interest shall accrue from the date such overdue amount was originally due to included and the date of payment shall be excluded; provided, however, that if any Credit Extension or advance is repaid on the same day on which it is made, such day shall be included in full computing interest on such Credit Extension or advance. As of such amounteach Applicable Interest Rate Determination Date, including Agent shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest thereon, has been made rate that shall apply to the Lender. Accrued and unpaid interest on past due amounts, including interest on interest, shall be due and payable upon demand. 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 bankruptcy, insolvency, reorganization, moratorium or similar law affecting the enforcement of creditors’ rights generallyCredit Extensions.