Common use of Interest for Account of Swing Line Lender Clause in Contracts

Interest for Account of Swing Line Lender. Each Swing Line 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 Margin for Base Rate Loans in respect of the Revolving Loan Facility. The Swing Line Lender shall be responsible for invoicing the Borrower for interest on the Swing Line Loans. Until each Revolving Lender funds its Base Rate Loan or participation pursuant to this Section 2.03 to refinance such Revolving Lender’s Revolving Proportionate Shares of any Swing Line Loan, interest in respect of all such Revolving Proportionate Shares shall be solely for the account of the Swing Line Lender. The Borrower shall pay accrued interest on the unpaid principal amount of each Swing Line Loan upon payment (to the extent thereof), on the last Business Day of each fiscal quarter and at maturity.

Appears in 7 contracts

Samples: Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc)

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Interest for Account of Swing Line Lender. Each Swing Line 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 Margin for Base Rate Loans in respect of the Revolving Loan FacilityLoans. The Swing Line Lender shall be responsible for invoicing the Borrower Borrowers for interest on the Swing Line Loans. Until each Revolving Lender funds its Base Rate Loan or participation pursuant to this Section 2.03 to refinance such Revolving Lender’s Revolving Proportionate Shares Share of any Swing Line Loan, interest in respect of all such Revolving Proportionate Shares Share shall be solely for the account of the Swing Line Lender. The Borrower Borrowers shall pay accrued interest on the unpaid principal amount of each Swing Line Loan upon payment (to the extent thereof), on the last Business Day of each fiscal quarter and at maturity.

Appears in 3 contracts

Samples: Credit Agreement (Monarch Casino & Resort Inc), Credit Agreement (American Commercial Lines Inc.), Guaranty Agreement (American Commercial Lines Inc.)

Interest for Account of Swing Line Lender. Each Subject to Section 2.08(c), each Swing Line 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 Margin for Base Rate Loans in respect of the Revolving Loan FacilityLoans. The Swing Line Lender shall be responsible for invoicing the Borrower Borrowers for interest on the Swing Line Loans. Until each Revolving Lender funds its Base Rate Loan or participation pursuant to this Section 2.03 2.04 to refinance such Revolving Lender’s Revolving Proportionate Shares Share of any Swing Line Loan, interest in respect of all such Revolving Proportionate Shares Share shall be solely for the account of the Swing Line Lender. The Borrower Borrowers shall pay accrued interest on the unpaid principal amount of each Swing Line Loan upon payment prepayment (to the extent thereof), on the last Business Day of each fiscal quarter and at maturity.

Appears in 2 contracts

Samples: Credit Agreement (Sands Regent), Credit Agreement (Sands Regent)

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Interest for Account of Swing Line Lender. Each Swing Line 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 Margin for Base Rate Loans in respect of the Revolving Loan FacilityLoans. The Swing Line Lender shall be responsible for invoicing the Borrower for interest on the Swing Line Loans. Until each Revolving Lender funds its Base Rate Loan or participation pursuant to this Section 2.03 2.04 to refinance such Revolving Lender’s Revolving Proportionate Shares of any Swing Line Loan, interest in respect of all such Revolving Proportionate Shares shall be solely for the account of the Swing Line Lender. The Borrower shall pay accrued interest on the unpaid principal amount of each Swing Line Loan upon payment prepayment (to the extent thereof), on the last Business Day of each fiscal quarter and at maturity.

Appears in 1 contract

Samples: Credit Agreement (Chiquita Brands International Inc)

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