Common use of Interest on the Advances Clause in Contracts

Interest on the Advances. The Borrower shall pay interest on the unpaid principal amount of the Advances, if any, from the date of the Advances until such principal amount shall be paid in full, payable semiannually on each June 15th and December 15th, at an interest rate per annum equal to the Base Rate plus 0.58%; provided, however, (i) that, prior to the Change of Control Date and at the request of the Agent, the interest rate per annum shall be the Base Rate in effect for such Advances plus the Modified Margin as determined by Agent in accordance with subsection (a), (b) or (c) of the definition of "Modified Margin", and (ii) that as of the date occurring 45 Business Days after the Change of Control Date, the interest rate per annum shall be the Base Rate in effect for such Advances plus the Applicable Margin. Borrower shall notify Agent of any credit agreement with a third party lending institution or a senior debt rating determination within five Business Days.

Appears in 1 contract

Samples: Year Credit Agreement (Memc Electronic Materials Inc)

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Interest on the Advances. The Borrower shall pay interest on the unpaid principal amount of the Advances, if any, from the date of the Advances until such principal amount shall be paid in full, payable semiannually on each June 15th and December 15th, at an interest rate per annum equal to the Base Rate plus 0.580.65%; provided, however, (i) that, prior to the Change of Control Date and at the request of the Agent, the interest rate per annum shall be the Base Rate in effect for such Advances plus the Modified Margin as determined by Agent in accordance with subsection (a), (b) or (c) of the definition of "Modified Margin", and (ii) that as of the date occurring 45 Business Days after the Change of Control Date, the interest rate per annum shall be the Base Rate in effect for such Advances plus the Applicable Margin. Borrower shall notify Agent of any credit agreement with a third party lending institution or a senior debt rating determination within five Business Days.

Appears in 1 contract

Samples: Seven Year Credit Agreement (Memc Electronic Materials Inc)

Interest on the Advances. The Borrower shall pay interest on the unpaid principal amount of the Advances, if any, from the date of the Advances until such principal amount shall be paid in full, payable semiannually on each June 15th and December 15th, at an interest rate per annum equal to the Base Rate plus 0.580.72%; provided, however, (i) that, prior to the Change of Control Date and at the request of the Agent, the interest rate per annum shall be the Base Rate in effect for such Advances plus the Modified Margin as determined by Agent in accordance with subsection (a), (b) or (c) of the definition of "Modified Margin", and (ii) that as of the date occurring 45 Business Days after the Change of Control Date, the interest rate per annum shall be the Base Rate in effect for such Advances plus the Applicable Margin. Borrower shall notify Agent of any credit agreement with a third party lending institution or a senior debt rating determination within five Business Days.

Appears in 1 contract

Samples: Eight Year Credit Agreement (Memc Electronic Materials Inc)

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Interest on the Advances. The Borrower shall pay interest on the unpaid principal amount of the Advances, if any, from the date of the Advances until such principal amount shall be paid in full, payable semiannually on each June 15th and December 15th, at an interest rate per annum equal to the Base Rate plus 0.580.52%; provided, however, (i) that, prior to the Change of Control Date and at the request of the Agent, the interest rate per annum shall be the Base Rate in effect for such Advances plus the Modified Margin as determined by Agent in accordance with subsection (a), (b) or (c) of the definition of "Modified Margin", and (ii) that as of the date occurring 45 Business Days after the Change of Control Date, the interest rate per annum shall be the Base Rate in effect for such Advances plus the Applicable Margin. Borrower shall notify Agent of any credit agreement with a third party lending institution or a senior debt rating determination within five Business Days.

Appears in 1 contract

Samples: Five Year Credit Agreement (Memc Electronic Materials Inc)

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