Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 5 contracts
Samples: Credit Agreement, Credit Agreement (Ameren Corp), Credit Agreement
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), commitment fees and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest ; interest on Floating Rate Advances and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received initiated prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 5 contracts
Samples: Credit Agreement (Modine Manufacturing Co), Credit Agreement (Modine Manufacturing Co), Credit Agreement (Modine Manufacturing Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Funding Date, on any date on which such Floating the Alternate Base Rate Advance Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversionMaturity Date applicable to such Alternate Base Rate Loan. Interest accrued on each Eurodollar Advance Eurocurrency Loan shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Maturity Date applicable to such Eurocurrency Loan. Interest accrued on each Eurodollar Advance Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the day that such Loan interest is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and based on the date of payment in full. Interest on Eurodollar Advances Alternate Base Rate), Ticking Fees and other fees hereunder hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest year and (b) interest on Floating Loans which are Alternate Base Rate Advances Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 2:00 p.m. (New York time) at the place of payment. If any payment of principal of or interest on an Advancea Loan, any fees or any other amounts payable to the any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 4 contracts
Samples: Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.), Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.), Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating the Alternate Base Rate Advance Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance Loan converted into a Eurodollar Advance Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance Non-Absolute Bid Rate Loan shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance Non-Absolute Bid Rate Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance Non-Absolute Bid Rate Loan having an Interest Period longer than three months shall also be payable on the last day of each three-three month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Interest, Facility Fees and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder Utilization Fees shall be calculated for actual days elapsed on the basis of a 360-360 day year. Interest , except that interest calculated based on Floating the Prime Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-365, or when appropriate 366, day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If Whenever any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become under the Loan Documents would otherwise be due on a day which that is not a Business Day, such payment shall instead be made due on the next succeeding Business Day; provided, however, that if such next succeeding Business Day and, falls in the case of principal paymenta new calendar month, such extension payment shall instead be due on the immediately preceding Business Day. If the date any payment under the Loan Documents is due is extended (whether by operation of any Loan Document, Applicable Law or otherwise), such payment shall bear interest for such extended time at the rate of interest applicable hereunder. Interest at the Overdue Rate shall be included in computing interest, fees and commissions in connection with such paymentpayable on demand.
Appears in 4 contracts
Samples: Credit Agreement (Washington Gas Light Co), Credit Agreement (WGL Holdings Inc), Credit Agreement (Washington Gas Light Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance or Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan Floating Rate Advances when the Alternate Base Rate is determined by the Prime Rate shall be payable calculated for actual days elapsed on the basis of a 365, or when appropriate 366, day that such Loan is required to be repaidyear. Interest accrued on any Advance that is not paid when due shall be payable on demand All other computations of interest, LC Fees and on the date of payment in full. Interest on Eurodollar Advances and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If Except as set forth in the second proviso to the definition of “Interest Period,” if any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, interest and fees and commissions in connection with such payment.
Appears in 4 contracts
Samples: Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp.)
Interest Payment Dates; Interest and Fee Basis. (a) Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturitythe Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. .
(b) Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturitythe Facility Termination Date. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. .
(c) Interest accrued on each Swingline Loan LIBOR Market Rate Advance shall be payable on the day that any date on which such Loan LIBOR Market Rate Advance is required paid in full, whether due to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand acceleration or otherwise, and on the date of payment in full. such LIBOR Market Index Rate Advance shall become due and payable pursuant to Section 2.2(b).
(d) Interest on Eurodollar Floating Rate Advances bearing interest at the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate, 366 day year. All other interest and all fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day (except for interest payments in respect of Eurodollar Advances whose Interest Period ends on a day which is not a Business Day, and the next succeeding Business Day falls in a new calendar month, in which case interest accrued on such Eurodollar Advance shall be payable on the immediately preceding Business Day) and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 4 contracts
Samples: Credit Agreement (Idacorp Inc), Credit Agreement (Idacorp Inc), Credit Agreement (Idaho Power Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, Borrowing Date with respect to such Alternate Base Rate Loan and on any date on which such Floating the Alternate Base Rate Advance Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversionFacility Termination Date. Interest accrued on each Eurodollar Advance Eurocurrency Loan shall be payable on the last day of each its applicable Interest Period, Period and on any date on which the Eurodollar Advance such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurodollar Advance Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the day that such Loan interest is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and based on the date of payment in full. Interest on Eurodollar Advances Alternate Base Rate), Commitment Fees and other fees hereunder hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest year and (b) interest on Floating Loans which are Alternate Base Rate Advances Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 2:00 p.m. (New York time), in the case of a Loan denominated in Dollars or (y) the Applicable Time, in the case of a Loan denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on an Advancea Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 4 contracts
Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.), Revolving Credit Agreement (Walgreens Boots Alliance, Inc.), Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be Eurodollar Advances, Floating Rate Advances (other than Floating Rate Advances for which the interest rate payable is based on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Prime Rate), LC Fees and on the date of payment in full. Interest on Eurodollar Advances and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances for which the interest rate payable is based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Chicago, Illinois time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Chemed Corp), Credit Agreement (Chemed Corp), Credit Agreement (Chemed Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on the first day of each Payment Datecalendar month, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances Advances, LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Phoenix, Arizona time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Encore Capital Group Inc), Credit Agreement (Encore Capital Group Inc), Credit Agreement (Encore Capital Group Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, hereof and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan All computations of interest for Floating Rate Loans when the Alternate Base Rate is determined by the Prime Rate shall be payable made on the day that such Loan is required to be repaidbasis of a year of 365 or 366 days, as the case may be, and actual days elapsed. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date All other computations of payment in full. Interest on Eurodollar Advances interest and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Chicago time) at the place of paymentpayment (it being understood that the Administrative Agent shall be deemed to have received a payment prior to noon (Chicago time) if (x) the Borrower has provided the Administrative Agent with evidence satisfactory to the Administrative Agent that the Borrower has initiated a wire transfer of such payment prior to such time and (y) the Administrative Agent actually receives such payment on the same Business Day on which such wire transfer was initiated). If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Kansas City Power & Light Co), Credit Agreement (Great Plains Energy Inc), Credit Agreement (Kansas City Power & Light Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable within three (3) Business Days following the Borrower’s receipt of an invoice (which invoice may not be delivered to the Borrower more than three (3) Business Days prior to the applicable payment date) from the Administrative Agent with respect to the period ending on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable Interest, facility fees and LC Fees, other than interest based on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder Floating Rate, shall be calculated for actual days elapsed on the basis of a 360-day year. Interest based on the Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-365- (or 366-, as the case may be) day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Lancaster Colony Corp), Credit Agreement (Lancaster Colony Corp), Credit Agreement (Lancaster Colony Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance or Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan Floating Rate Advances when the Alternate Base Rate is determined by the Prime Rate shall be payable calculated for actual days elapsed on the basis of a 365, or when appropriate 366, day that such Loan is required to be repaidyear. Interest accrued on any Advance that is not paid when due shall be payable on demand All other computations of interest, LC Fees and on the date of payment in full. Interest on Eurodollar Advances and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, interest and fees and commissions in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Canadian Prime Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance or Canadian Prime Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance and Offered Rate Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance or Offered Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance or Offered Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on Interest, LC Fees, and other fees (except as provided in the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder following sentence) shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , except for interest on Loans denominated in British Pounds Sterling, Loans comprised of Floating Rate Advances, and Advances bearing interest at the Canadian Prime Rate which shall be calculated for actual days elapsed on the basis of a 365/366365-day year. Commitment Fees and Usage Fees shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of paymentpayment specified in Section 2.14. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Cameron International Corp), Credit Agreement (Cameron International Corp), Credit Agreement (Cameron International Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance or Indexed Rate Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance or Indexed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance or Indexed Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan Absolute Rate Advance shall be payable on the last day that of its applicable Interest Period, on the date on which the Absolute Rate Advance is prepaid, whether by acceleration or otherwise, at maturity, and on such Loan is required intervening dates prior to the maturity thereof as may be repaidspecified by the Borrower in the applicable Competitive Bid Quote Request and agreed to by the applicable Lender in the applicable Competitive Bid Quote. Interest Notwithstanding the foregoing, interest accrued on any Advance that is not paid when due pursuant to Section 2.13 shall be payable on demand and on the date of payment in fulldemand. Interest on Eurodollar Eurocurrency Advances, Competitive Bid Advances and fees hereunder Commitment Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , and interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year (except for interest on Loans denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day year). Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York timeLocal Time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 3 contracts
Samples: 364 Day Credit Agreement (General Dynamics Corp), Five Year Credit Agreement (General Dynamics Corp), Amendment and Restatement Agreement (General Dynamics Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance or Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest ; provided that interest accrued on each Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances Advances, Swing Line Loans, LC Fees and fees hereunder Commitment Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest ; interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Applebees International Inc), Revolving Credit Agreement (Applebees International Inc), Revolving Credit Agreement (Applebees International Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances Advances, LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Louisville, Kentucky time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Res Care Inc /Ky/), Credit Agreement (Res Care Inc /Ky/), Credit Agreement (Res Care Inc /Ky/)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and each Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwisehereof, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the such Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month three (3)-month interval during such Interest Period. Interest accrued on each Swingline Loan All computations of interest for Floating Rate Loans and Swing Line Loans (including Floating Rate Loans determined by reference to the Eurodollar Rate) shall be payable made on the day that such Loan is required to be repaidbasis of a year of 365 or 366 days, as the case may be, and actual days elapsed. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date All other computations of payment in full. Interest on Eurodollar Advances interest and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) 1:00 p.m. at the place of paymentpayment (it being understood that the Administrative Agent shall be deemed to have received a payment prior to 1:00 p.m. if (x) the Borrower has provided the Administrative Agent with evidence satisfactory to the Administrative Agent that the Borrower has initiated a wire transfer of such payment prior to such time and (y) the Administrative Agent actually receives such payment on the same Business Day on which such wire transfer was initiated). If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Great Plains Energy Inc), Credit Agreement (Great Plains Energy Inc), Credit Agreement (Great Plains Energy Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Eurocurrency Advances, commitment fees and on the date letter of payment in full. Interest on Eurodollar Advances and credit fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , and interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 2:00 p.m. (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Bio Rad Laboratories Inc), Credit Agreement (Bio Rad Laboratories Inc), Credit Agreement (Bio Rad Laboratories Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Fixed Rate Loan shall be payable on the last day of the Interest Period applicable to the Advance of which such Loan is a part and, in the case of a Fixed Rate Advance with an Interest Period of more than 90 days’ duration (unless otherwise specified in the applicable Competitive Bid Request), each day prior to the last day of such Interest Period that occurs at intervals of 90 days’ duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive Bid Request as dates for payment of interest with respect to such Advance. Interest accrued on each Swingline Loan shall be payable in arrears on the day that such Loan is repaid or is required to be repaidpaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances Advances, Fixed Rate Loans and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances and Swingline Loans shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Ameren Energy Generating Co), Credit Agreement (Ameren Energy Generating Co), Credit Agreement (Ameren Energy Generating Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance and Swingline Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating the Swingline Loan or Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Base Rate Advance converted into a Eurodollar LIBOR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar LIBOR Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar LIBOR Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar LIBOR Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each with respect to any Swingline Loan Loans shall be payable on the day date that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand with respect to LIBOR Loans and on the date of payment in full. Interest on Eurodollar Advances and commitment fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating with respect to Base Rate Advances Loans shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Sei Investments Co), Credit Agreement (Sei Investments Co), Credit Agreement (Sei Investments Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances Advances, LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Chicago, Illinois time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Chemed Corp), Credit Agreement (Chemed Corp), Credit Agreement (Chemed Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Monthly Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance Loan is prepaid, whether due to acceleration or otherwise, and at maturityon the applicable Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Rate Advance on a day other than a Monthly Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Rate Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan Floating Rate Loans, Commitment Fees and Facility Letter of Credit Fees shall be payable calculated for actual days elapsed on the basis of a 365-day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest year; interest on Eurodollar Advances and fees hereunder Rate Loans shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 1:00 p.m. (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 3 contracts
Samples: Credit Agreement (Lennar Corp /New/), Credit Agreement (Lennar Corp /New/), Credit Agreement (Lennar Corp /New/)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance or Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest ; provided, that interest accrued on each Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder Swing Line Loans and LC Fees, Facility Fees and Utilization Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest ; interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Samples: 5 Year Revolving Credit Agreement (Acuity Brands Inc), 364 Day Revolving Credit Agreement (L&c Spinco Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required with respect to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Eurodollar Loans and on the date of payment in full. Interest on Eurodollar Advances and facility fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating with respect to Alternate Base Rate Advances Loans shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is made in full and received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Aon Corp), Credit Agreement (Aon Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan Floating Rate Advances when the Alternate Base Rate is determined by the Prime Rate shall be payable calculated for actual days elapsed on the basis of a 365, or when appropriate 366, day that such Loan is required to be repaidyear. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date All other computations of payment in full. Interest on Eurodollar Advances and fees hereunder interest shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees Advance or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Term Loan Agreement (Enable Midstream Partners, LP), Term Loan Agreement (Oge Energy Corp.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance or Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest ; provided, that interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Eurocurrency Advances and fees hereunder Swing Line Loans and LC Fees and Facility Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest ; interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Samples: 5 Year Revolving Credit Agreement (Zep Inc.), Revolving Credit Agreement (Acuity Brands Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Effective Date, on any date on which such Floating the Alternate Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all Advances (other than Alternate Base Rate Loans where the day that such Loan interest is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and based on the date of payment in full. Interest on Eurodollar Advances Prime Rate), Commitment Fees and other fees hereunder hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest year and (b) interest on Floating Advances which are Alternate Base Rate Advances Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 1:00 p.m. (New York time) ), at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.), Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance or Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan pursuant to Section 2.11 shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in fulldemand. Interest on Eurodollar Advances Advances, Swing Line Loans (other than Swingline Loans that are Floating Rate Advances), LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-365, or when appropriate 366, day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Charlotte, North Carolina time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, interest and fees and commissions in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance shall be payable in arrears by the applicable Borrower on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Base Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable by the applicable Borrower on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable by the applicable Borrower on the last day of each its applicable Interest Period, on any date on which the Eurodollar such Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three months shall also be payable by the applicable Borrower on the last day of each three-month three‑month interval during such Interest Period. Interest accrued on each Swingline Foreign Currency Swing Loan, on each Euro Swing Loan and on each U.S. Swing Loan shall be payable paid by the applicable Borrower on the day that Maturity Date therefor and on any date on which such Foreign Currency Swing Loan, such Euro Swing Loan or such U.S. Swing Loan is required prepaid, whether due to be repaidacceleration or otherwise. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and commitment fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day 360‑day year. Interest , except for interest on Floating Base Rate Advances Loans calculated by reference to the “prime rate” of Bank of America and Foreign Currency Swing Loans and Revolving Loans denominated in Pounds Sterling, as applicable, which shall be calculated for actual days elapsed on the basis of a 365/366365‑day year or when appropriate, a 366-day year. Interest shall be payable by the applicable Borrower for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder a Loan shall become due on a day which is not a Business Day, such payment shall be made by the applicable Borrower on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: 364 Day Revolving Credit Agreement (Visa Inc.), 364 Day Revolving Credit Agreement (Visa Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility Termination Date. Interest on Floating Rate Loans shall be calculated for actual days elapsed on the basis of a 365 or 366-day year, as appropriate. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable in arrears on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date, and with respect to any Alternate Currency Loan, the date specified as the date on which interest is payable in the applicable Alternate Currency Addendum. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued Facility fees, utilization fees and interest on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Eurocurrency Advances and fees hereunder LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , except for interest on Floating Rate Advances Loans denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365/366365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Cardinal Health Inc), Five Year Credit Agreement (Cardinal Health Inc)
Interest Payment Dates; Interest and Fee Basis. (a) Interest accrued on each Floating Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurodollar Eurocurrency Term SOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Term SOFR Advance and each Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Term SOFR Advance or the Eurocurrency Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Term SOFR Advance and each Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during during
(b) With respect to any Term SOFR Advances and XXXXX Advances, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement; provided that, with respect to any such amendment effected, the Administrative Agent shall post each such amendment implementing such Conforming Changes to the Borrowers and the Lenders reasonably promptly after such amendment becomes effective. “Conforming Changes” means any technical, administrative or operational changes (including changes to the definition of “Alternate Base Rate”, the definition of “Business Day,” the definition of “Interest Period. Interest accrued on each Swingline Loan shall ”, the timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, the formula, methodology or convention for applying the Floor to such rate and other technical, administrative or operational matters) that the Administrative Agent decides may be payable on appropriate to reflect the day adoption and implementation of XXXXX and any such rate or to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such Loan is required to be repaid. Interest accrued on any Advance that market practice is not paid when due shall be payable on demand and on administratively feasible or if the date of payment in full. Interest on Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable Administrative Agent determines that no market practice for the day an Advance is made but not for the day administration of XXXXX any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day andrate exists, in such other manner of administration as the case of principal payment, such extension of time shall be included in computing interest, fees and commissions Administrative Agent decides is reasonably necessary in connection with such paymentthe administration of this Agreement).
Appears in 2 contracts
Samples: Credit Agreement (Aon PLC), Credit Agreement (Aon PLC)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Fixed Rate Loan shall be payable on the last day of the Interest Period applicable to the Advance of which such Loan is a part and, in the case of a Fixed Rate Advance with an Interest Period of more than 90 days’ duration (unless otherwise specified in the applicable Competitive Bid Request), each day prior to the last day of such Interest Period that occurs at intervals of 90 days’ duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive Bid Request as dates for payment of interest with respect to such Advance. Interest accrued on each Swingline Loan shall be payable in arrears on the day that such Loan is repaid or is required to be repaidpaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances Advances, Fixed Rate Loans and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances and Swingline Loans shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Ameren Energy Generating Co), Credit Agreement
Interest Payment Dates; Interest and Fee Basis. Interest The ---------------------------------------------- Borrower agrees to pay interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaidpaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest The Borrower agrees to pay interest accrued on each Eurodollar Fixed Rate Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Fixed Rate Advance is prepaidpaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Fixed Rate Advances, LC Fees, and on the date of payment in full. Interest on Eurodollar Advances and facility fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest ; interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, Advance or any fees or any other amounts payable to the Agent or any Lender Obligations hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Global Payments Inc), Credit Agreement (National Data Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date Payment Date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversionany prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Eurodollar Advance Eurocurrency Loan shall be payable in arrears on the last day of each its applicable Interest Period, on the date of any date prepayment of such Loan (whether or not as a result of acceleration) on which the Eurodollar Advance is amount prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurodollar Advance Eurocurrency Loan having an Interest Period longer than three months shall also be payable in arrears on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be pursuant to Section 2.10 is payable on the day that such Loan is required to be repaiddemand. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 before noon (New York Minneapolis time) at the place of payment). If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become a Loan becomes due on a day which that is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such paymentDay.
Appears in 2 contracts
Samples: Credit Agreement (Piper Sandler Companies), Credit Agreement (Piper Jaffray Companies)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable in arrears on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Eurodollar Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and facility fees hereunder shall be calculated for actual days elapsed on the basis of a 360-360 day year. Interest accrued on each Floating Rate Advances Advance shall be calculated for actual days elapsed on the basis of a 365/366-365, or when appropriate, 366 day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 1:00 p.m. (New York time) at the place of paymentlocation specified in Section 2.12. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Obligation shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a payment of the principal paymentof any Advance, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Wrigley Wm Jr Co), Credit Agreement (Wrigley Wm Jr Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required with respect to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Eurocurrency Loans and on the date of payment in full. Interest on Eurodollar Advances and facility fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating with respect to Alternate Base Rate Advances Loans shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is made in full and received prior to 12:00 noon p.m. (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Aon PLC), Credit Agreement (Aon PLC)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required with respect to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Eurocurrency Loans and on the date of payment in full. Interest on Eurodollar Advances and facility fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day 360‑day year. Interest on Floating with respect to Alternate Base Rate Advances Loans shall be calculated for the actual days elapsed on the basis of a 365/366-day 365 or 366‑day year, as applicable. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is made in full and received prior to 12:00 noon p.m. (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Five Year Credit Agreement (Aon PLC), Five Year Credit Agreement (Aon PLC)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all Advances (other than Floating Rate Loans where the day that such Loan interest is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and based on the date Alternate Base Rate), Facility Fees, Letter of payment in full. Interest on Eurodollar Advances Credit Fees and other fees hereunder hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest year and (b) interest on Advances which are Floating Rate Advances Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 1:00 p.m. (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Walgreen Co), Credit Agreement (Walgreen Co)
Interest Payment Dates; Interest and Fee Basis. Interest ---------------------------------------------- accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance or Swing Line Loan is prepaid, prepaid and at maturity (whether due to acceleration or otherwise, and at maturity). Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Eurocurrency Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Eurocurrency Interest Period longer than three months shall also be payable on the last day Business Day of each three-month interval during such Eurocurrency Interest Period. Interest accrued on each Swingline Loan shall be payable on all Loans for which the day that such Loan Prime Rate is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder basis shall be calculated for actual days elapsed on the basis of a 360-day yearyear of 365 or, when appropriate, 366 days. Interest accrued on Floating all Loans for which the Eurocurrency Rate Advances is the basis and all fees shall be calculated for actual days elapsed on the basis of a 365/366-day yearyear of 360 days. Interest shall be payable for the day an Advance or Swing Line Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees Advance or Swing Line Loan or any other amounts payable to the Agent or any Lender hereunder fee shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Gardner Denver Inc), Credit Agreement (Gardner Denver Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date Payment Date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversionany prepayment of such Loan (whether or not as a result of acceleration) on the amount prepaid, and on the Facility Termination Date. Interest accrued on each Eurodollar Advance Term SOFR Loan shall be payable on the last day of each its applicable Interest Period, on the date of any date prepayment of such Loan (whether or not as a result of acceleration) on which the Eurodollar Advance is amount prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurodollar Advance Term SOFR Loan having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be pursuant to Section 2.11 is payable on the day that such Loan is required to be repaiddemand. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating , except that interest computed by reference to the Alternate Base Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. All interest hereunder on any Loan shall be computed on a daily basis based upon the outstanding principal amount of such Loan as of the applicable date of determination. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 before noon (New York City time) at the place of payment). If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become a Loan becomes due on a day which that is not a Business Day, such payment shall be made on the next immediately succeeding Business Day andunless such succeeding Business Day falls in a new calendar month, in the which case of such interest or principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such paymentpayable on the immediately preceding Business Day.
Appears in 2 contracts
Samples: Credit Agreement (Alliant Energy Corp), Credit Agreement (Alliant Energy Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Fixed Rate Loan shall be payable on the last day of the Interest Period applicable to the Advance of which such Loan is a part and, in the case of a Fixed Rate Advance with an Interest Period of more than 90 days' duration (unless otherwise specified in the applicable Competitive Bid Request), each day prior to the last day of such Interest Period that occurs at intervals of 90 days' duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive Bid Request as dates for payment of interest with respect to such Advance. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances Advances, Fixed Rate Loans and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Union Electric Co), Five Year Revolving Credit Agreement (Union Electric Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance or Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest ; provided, that interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Eurocurrency Advances and fees hereunder Swing Line Loans and LC Fees and Facility Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest year (except that interest for Advances denominated in Pounds Sterling or Canadian Dollars shall be computed on the basis of a year of 365 days); interest on Floating Rate Advances in respect of which the Alternate Base Rate is based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York timeLocal Time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Acuity Brands Inc), Credit Agreement (Acuity Brands Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance (other than a Swing Line Loan) shall be payable in arrears on the Closing Date and each Payment Date, commencing with the first such date Payment Date to occur after the Closing Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Swing Line Loan shall be payable on the last day that of each calendar month (including the first day of such Loan is required to be repaid. Interest accrued on any Advance that is month but not paid when due shall be payable on demand including the last day of such month) and on the date Maturity Date (it being understood and agreed that the Borrower shall pay any accrued and unpaid interest in respect of payment in fullthe Existing Swing Line Loans upon the first of such dates to occur after the Closing Date). Interest on Eurodollar Advances Eurocurrency Advances, Swing Line Loans, LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Revolving Loans denominated in British Pounds Sterling, which shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest on Floating Rate Advances (other than Swing Line Loans) shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York timeLocal Time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Patterson Companies, Inc.), Credit Agreement (Patterson Companies, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance Loan and each LIBOR Market Index Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Agreement Date, on any date on which such Floating the Base Rate Advance Loan or LIBOR Market Index Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Base Rate Advance Loan converted into a Eurodollar Advance LIBOR Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance LIBOR Rate Loan shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance LIBOR Rate Loan having an Interest Period longer than three months shall also be payable on the last day of each three-three month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Interest, Facility Fees and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder LC Fees shall be calculated for actual days elapsed on the basis of a 360-360 day year. Interest , except that interest calculated based on Floating the Prime Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-365, or when appropriate 366, day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If Whenever any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become under the Loan Documents would otherwise be due on a day which that is not a Business Day, such payment shall instead be made due on the next succeeding Business Day; provided, however, that if such next succeeding Business Day and, falls in the case of principal paymenta new calendar month, such extension payment shall instead be due on the immediately preceding Business Day. If the date any payment under the Loan Documents is due is extended (whether by operation of any Loan Document, Applicable Law or otherwise), such payment shall bear interest for such extended time at the rate of interest applicable hereunder. Interest at the Overdue Rate shall be included in computing interest, fees and commissions in connection with such paymentpayable on demand.
Appears in 2 contracts
Samples: Credit Agreement (WGL Holdings Inc), Credit Agreement (WGL Holdings Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance Loan and each LIBOR Market Index Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate Advance Loan or LIBOR Market Index Rate Loan is prepaidpaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance Loan converted into a Eurodollar Advance Loan or LIBOR Market Index Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on that portion of the outstanding principal amount of any LIBOR Market Index Rate Loan converted into a Floating Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance Loan shall be payable on the last day of each its applicable Interest Period, on any date on which the such Eurodollar Advance Loan is prepaidpaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance Loan having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Interest, Commitment Fees, Utilization Fees, LC Fees and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder LC Fronting Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , except that interest on Floating Rate Advances Loans accruing at a rate based on the Reference Rate shall be calculated for actual days elapsed computed on the basis of a 365/366365- or 366-day year, as applicable. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 1:00 p.m. (New York time) at the place of payment). If any payment of principal of or interest on an Advance, any fees a Loan or any other amounts payable to the Agent or any Lender hereunder payment of fees in connection herewith shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day andDay, in the case of principal payment, and such extension of time shall be included reflected in computing interestinterest or fees, fees and commissions in connection with such paymentas the case may be.
Appears in 2 contracts
Samples: Credit Agreement (Puget Sound Energy Inc), Credit Agreement (Puget Sound Energy Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Monthly Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance Loan is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility A Termination Date or the Facility B Termination Date, as the case may be. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Fixed Rate Advance on a day other than a Monthly Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Fixed Rate Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Fixed Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan Floating Rate Loans and Commitment Fees shall be payable calculated for actual days elapsed on the basis of a 365-day that such Loan is required to be repaid. Interest accrued year; interest on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder Fixed Rate Loans shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 1:00 p.m. (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Lennar Corp), Credit Agreement (LNR Property Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance or Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances Advances, Swing Line Loans, LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-365, or when appropriate 366, day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Charlotte, North Carolina time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, interest and fees and commissions in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Oge Energy Corp.), Credit Agreement (Oge Energy Corp.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required with respect to be repaid. Interest accrued on any Advance that Eurodollar Loans and Alternate Base Rate Loans for which interest is not paid when due shall be payable on demand and on determined by reference to the date of payment in full. Interest on Eurodollar Advances and fees hereunder Prime Rate shall be calculated for actual days elapsed on the basis of a 360-360 day year. Interest on Floating with respect to Alternate Base Rate Advances Loans for which interest is determined by reference to the Prime Rate shall be calculated for the actual days elapsed on the basis of a 365/366-365 or 366 day year, as applicable. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Term Credit Agreement (Aon Corp), Term Credit Agreement (Aon Corp)
Interest Payment Dates; Interest and Fee Basis. (a) Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturitythe Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. .
(b) Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturitythe Facility Termination Date. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. .
(c) Interest accrued on each Swingline Loan Floating Rate Advances bearing interest at the Prime Rate shall be payable calculated for actual days elapsed on the basis of a 365, or when appropriate, 366 day that such Loan is required to be repaidyear. Interest accrued on any Advance that is not paid when due shall be payable on demand All other interest and on the date of payment in full. Interest on Eurodollar Advances and all fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day (except for interest payments in respect of Eurodollar Advances whose Interest Period ends on a day which is not a Business Day, and the next succeeding Business Day falls in a new calendar month, in which case interest accrued on such Eurodollar Advance shall be payable on the immediately preceding Business Day) and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Term Loan Credit Agreement, Term Loan Credit Agreement (Idaho Power Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwisehereof, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the such Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan All computations of interest for Floating Rate Loans when the Alternate Base Rate is determined by the Prime Rate shall be payable made on the day that such Loan is required to be repaidbasis of a year of 365 or 366 days, as the case may be, and actual days elapsed. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date All other computations of payment in full. Interest on Eurodollar Advances interest and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Chicago time) at the place of paymentpayment (it being understood that the Administrative Agent shall be deemed to have received a payment prior to noon (Chicago time) if (x) the Borrower has provided the Administrative Agent with evidence satisfactory to the Administrative Agent that the Borrower has initiated a wire transfer of such payment prior to such time and (y) the Administrative Agent actually receives such payment on the same Business Day on which such wire transfer was initiated). If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Kansas City Power & Light Co), 364 Day Credit Agreement (Kansas City Power & Light Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Effective Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on Eurocurrency Advances (to the day that such Loan is required to be repaid. Interest accrued on any Advance that is extent not paid when due shall be payable on demand denominated in Canadian Dollars or Sterling), commitment fees and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances and Advances denominated in Canadian Dollars or Sterling shall be calculated for actual days elapsed on the basis of a 365/366365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon Noon (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Viad Corp), Credit Agreement (Viad Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such a Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Ratable Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance or Absolute Rate Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance or Absolute Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance or Absolute Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued Facility fees and interest on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Floating Rate Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Absolute Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest on Eurodollar Advances shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Alleghany Corp /De), Credit Agreement (Alleghany Corp /De)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Third Restatement Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each applicable Interest PeriodPeriod therefor, on any date on which the Eurodollar such Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Interest, facility fees and on the date Letter of payment in full. Interest on Eurodollar Advances and fees hereunder Credit Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , except for interest on Loans denominated in British Pounds Sterling and Floating Rate Advances Loans which shall be calculated for actual days elapsed on the basis of a 365/366365-day or 366-day year, as applicable. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York timeLocal Time) (or, in the case of Swingline Loans, 2:00 p.m. Local Time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Bemis Co Inc), Long Term Credit Agreement (Bemis Co Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility Termination Date. Interest on Floating Rate Loans shall be calculated for actual days elapsed on the basis of a 365 or 366-day year, as appropriate. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable in arrears on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date, and with respect to any Alternate Currency Loan, the date specified as the date on which interest is payable in the applicable Alternate Currency Addendum. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued Facility Fees, utilization fees and interest on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Eurocurrency Advances and fees hereunder LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , except for interest on Floating Rate Advances Loans denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365/366365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Five Year Credit Agreement (Cardinal Health Inc), Five Year Credit Agreement (Cardinal Health Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance or Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar EurodollarSOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar EurodollarSOFR Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar EurodollarSOFR Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar EurodollarSOFR Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan Floating Rate Advances when the Alternate Base Rate is determined by the Prime Rate shall be payable calculated for actual days elapsed on the basis of a 365, or when appropriate 366, day that such Loan is required to be repaidyear. Interest accrued on any Advance that is not paid when due shall be payable on demand All other computations of interest, LC Fees and on the date of payment in full. Interest on Eurodollar Advances and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If Except as set forth in the second proviso to the definition of “Interest Period,” if any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, interest and fees and commissions in connection with such payment. In connection with the use or administration of Term SOFR, the Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. The Agent will promptly notify Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.
Appears in 2 contracts
Samples: Credit Agreement (Oklahoma Gas & Electric Co), Credit Agreement (Oklahoma Gas & Electric Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Fixed Rate Loan shall be payable on the last day of the Interest Period applicable to the Advance of which such Loan is a part and, in the case of a Fixed Rate Advance with an Interest Period of more than 90 days’ duration (unless otherwise specified in the applicable Competitive Bid Request), each day prior to the last day of such Interest Period that occurs at intervals of 90 days’ duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive Bid Request as dates for payment of interest with respect to such Advance. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances Advances, Fixed Rate Loans and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Amerenenergy Generating Co), Five Year Revolving Credit Agreement (Central Illinois Public Service Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating a Base Rate Advance Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Base Rate Advance Loan converted into a Eurodollar Advance LIBOR Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance LIBOR Loan shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance LIBOR Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance LIBOR Loan having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Loans and on the date of payment in full. Interest on Eurodollar Advances and commitment fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York 2:00 p.m., Los Angeles time) , at the place of payment. If Whenever any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender be made hereunder shall become be stated to be due on a day which that is not a Business Day, such payment shall be made on the next succeeding Business Day andDay, in the case of principal payment, and such extension of time shall in such case be included in computing the computation of payment of interest; provided, fees however, that, if such extension would cause any payment of interest on or principal of any LIBOR Loan to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day, and commissions such shortened time shall in connection with such paymentcase be used in the computation of payment of interest. Each determination by the Bank of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error.
Appears in 2 contracts
Samples: Credit Agreement (Petco Animal Supplies Inc), Credit Agreement (Petco Animal Supplies Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Fixed Rate Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Fixed Rate Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Fixed Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Fixed Rate Loans, commitment fees and on the date letter of payment in full. Interest on Eurodollar Advances and credit fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances Loans shall be calculated for actual days elapsed on the basis of a 365/366-365-, or when appropriate 366-, day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Syncor International Corp /De/), Valuation and Qualifying Accounts (Syncor International Corp /De/)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required with respect to be repaid. Interest accrued on any Advance that Eurodollar Loans, Commitment Fees and Alternate Base Rate Loans for which interest is not paid when due shall be payable on demand and on determined by reference to the date of payment in full. Interest on Eurodollar Advances and fees hereunder Prime Rate shall be calculated for actual days elapsed on the basis of a 360-360 day year. Interest on Floating with respect to Alternate Base Rate Advances Loans for which interest is determined by reference to the Prime Rate shall be calculated for the actual days elapsed on the basis of a 365/366-365 or 366 day year, as applicable. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Aon Corp), Senior Bridge Term Loan Credit Agreement (Aon Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan Floating Rate Loans bearing interest at the Prime Rate shall be payable calculated for actual days elapsed on the basis of a 365, or when appropriate, 366 day that such Loan is required to be repaidyear. Interest accrued on any Advance that is not paid when due shall be payable on demand All other interest and on the date of payment in full. Interest on Eurodollar Advances and all fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day (except for interest payments in respect of Eurodollar Advances whose Interest Period ends on a day which is not a Business Day, and the next succeeding Business Day falls in a new calendar month, in which case interest accrued on such Eurodollar Advance shall be payable on the immediately preceding Business Day) and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Idaho Power Co), Credit Agreement (Idaho Power Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances Advances, LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Salt Lake City, Utah time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Headwaters Inc), Credit Agreement (Headwaters Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate ABR Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating Rate the ABR Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Rate ABR Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the Payment Date following the date of such conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Commitment Fees and on the date of payment in full. Interest LC Fees and interest on Eurodollar Advances and fees hereunder Loans shall be calculated for actual days elapsed on the basis of a 360-day year. Interest ; interest on Floating Rate Advances ABR Loans and Swing Line Loans shall be calculated for actual days elapsed on the basis of a 365/366365-day (or, if applicable, 366-day) year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 2:00 p.m. (New York Central time) at the place of paymentin accordance with Section 2.12. If any payment of principal of or interest on an Advance, any fees Advance or any other amounts payable to the Agent or any Lender hereunder Swing Line Loan shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: Credit Agreement (Ryland Group Inc), Credit Agreement (Ryland Group Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Effective Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable in arrears on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on , and upon any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day yearprepayment. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest on Eurodollar Advances, commitment fees and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment. Notwithstanding the foregoing, the Borrower will pay to the Agent, for the account of each Lender, interest at the applicable rate in accordance with Section 2.11.
Appears in 2 contracts
Samples: Credit Agreement (Shaw Group Inc), Credit Agreement (Shaw Group Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating an Alternate Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required with respect to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Eurodollar Loans, facility fees and on the date of payment in full. Interest on Eurodollar Advances and utilization fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating with respect to Alternate Base Rate Advances Loans shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is made in full and received prior to 12:00 noon (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 2 contracts
Samples: 364 Day Credit Agreement (Aon Corp), Credit Agreement (Aon Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan and each LIBOR Daily Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing DateBorrowing Date with respect to such Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, as applicable, and on any date on which such the Alternate Base Rate Loan or LIBOR Daily Floating Rate Advance Loan, as applicable, is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance Eurocurrency Loan (other than LIBOR Daily Floating Rate Loans) shall be payable on the last day of each its applicable Interest Period, Period and on any date on which the Eurodollar Advance such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurodollar Advance Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the day that such Loan interest is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and based on the date of payment in full. Interest on Eurodollar Advances Alternate Base Rate), Commitment Fees and other fees hereunder hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest year and (b) interest on Floating Loans which are Alternate Base Rate Advances Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 2:00 p.m. (New York time) at the place of payment. If any payment of principal of or interest on an Advancea Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date in respect of Floating Rate Advances shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the such Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366365 (or, when appropriate, 366) day year; interest on Eurodollar Advances and commitment fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Samples: Credit Agreement (Pronet Inc /De/)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Effective Date, and on any date on which such Floating the Alternate Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurodollar EurocurrencySOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar SOFR Advance or Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period,in arrears on each Payment Date, and on any date on which the SOFR Advance or Eurocurrency Advance, as applicable, is prepaid, whether bydue to acceleration or otherwise, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwiserequired to be repaid, and at maturityon the Facility Termination Date. Interest accrued on each Eurodollar SOFR Advance or Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan XXXXX Advance shall be payable on the numerically corresponding day in the calendar month that is one month after the day on which such Loan Advance has been made (or, if there is no such numerically corresponding day in such month, then the last day of such month)in arrears on each Payment Date, on any date on which the XXXXX Advance is prepaid, whether by acceleration or otherwise, on any date on which the XXXXX Advance is required to be repaidrepaid and on the Facility Termination Date. Interest accrued on any Advance that is not paid when due pursuant to Section 2.11 shall be payable on demand and demand. With respect to (a) interest on all Advances (other than (1) Alternate Base Rate Loans where the interest is based on the date of payment Prime Rate or (2) Revolving Loans denominated in full. Interest on Eurodollar Advances Sterling), Commitment Fees and other fees hereunder hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest year and (b) interest on Floating Advances which are (1) Alternate Base Rate Advances Loans where the interest is based on the Prime Rate and (2) Revolving Loans denominated in Sterling, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York x) 1:00 p.m. (Pacific time), in the case of an Advance denominated in Dollars or (y) the Applicable Time, in the case of an Advance denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Credit Agreement (Salesforce, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan and each LIBOR Daily Floating Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing DateBorrowing Date with respect to such Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, as applicable, and on any date on which such the Alternate Base Rate Loan or LIBOR Daily Floating Rate Advance Loan, as applicable, is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance Eurocurrency Loan (other than LIBOR Daily Floating Rate Loans) shall be payable on the last day of each its applicable Interest Period, Period and on any date on which the Eurodollar Advance such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurodollar Advance Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the day that such Loan interest is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and based on the date of payment in full. Interest on Eurodollar Advances Alternate Base Rate), Commitment Fees and other fees hereunder hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest year and (b) interest on Floating Loans which are Alternate Base Rate Advances Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 2:00 p.m. (New York time) at the place of payment. If any payment of principal of or interest on an Advancea Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on commitment fees for Eurodollar Advances and fees hereunder LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on and commitment fees for Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366365-day day, or where appropriate 366-day, year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , except for interest on Loans denominated in British Pounds Sterling and Loans comprised of Floating Rate Advances Advances, which shall be calculated for actual days elapsed on the basis of a 365/366365-day year. Facility Fees and utilization fees shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance shall be payable in arrears by the applicable Borrower on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Base Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable by the applicable Borrower on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable by the applicable Borrower on the last day of each its applicable Interest Period, on any date on which the Eurodollar such Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three months shall also be payable by the applicable Borrower on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Foreign Currency Swing Loan, on each Euro Swing Loan and on each U.S. Swing Loan shall be payable paid by the applicable Borrower on the day that Maturity Date therefor, on any date on which such Foreign Currency Swing Loan or such Euro Swing Loan is required prepaid, whether due to be repaidacceleration or otherwise, and at maturity. Interest accrued on any Advance that is not paid when due shall be payable on demand Interest, facility fees and on the date of payment in full. Interest on Eurodollar Advances and utilization fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , except for interest on Floating Base Rate Advances Loans calculated by reference to the “prime rate” of Bank of America, Foreign Currency Swing Loans and Revolving Loans denominated in Pounds Sterling or Yen, as applicable, which shall be calculated for actual days elapsed on the basis of a 365/366365-day year or when appropriate, a 366-day year. Interest shall be payable by the applicable Borrower for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder a Loan shall become due on a day which is not a Business Day, such payment shall be made by the applicable Borrower on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance (other than a Swing Line Loan) shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three months shall also be payable on the last day of each three-three month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar commitment fees for Eurocurrency Advances and fees hereunder LC Fees shall be calculated for actual days elapsed on the basis of a 360-360 day year. Interest on and commitment fees for Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366365-day day, or where appropriate 366-day, year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received made prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Swing Line Loan and Floating Rate Advance shall be payable in arrears on each Monthly Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Swing Line Loan or Floating Rate Advance Loan is prepaid, whether due to acceleration or otherwise, and at maturityon the Facility A Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Fixed Rate Advance on a day other than a Monthly Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Fixed Rate Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Fixed Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Fixed Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan Floating Rate Loans and Facility Fees shall be payable calculated for actual days elapsed on the basis of a 365-day that such Loan is required to be repaid. Interest accrued year; interest on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder Fixed Rate Loans shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an a Committed Advance or a Swing Line Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 1:00 p.m. (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees a Committed Advance or any other amounts payable to the Agent or any Lender hereunder a Swing Line Loan shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance Borrowing shall be payable in arrears on each Payment Date, commencing with the first such date Payment Date to occur after the Closing Date, on any date on which such the Floating Rate Advance Borrowing is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance Borrowing converted into a Eurodollar Advance Eurocurrency Borrowing on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance Eurocurrency Borrowing shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance such Eurocurrency Borrowing is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance Eurocurrency Borrowing having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Eurocurrency Borrowings, and on the date of payment in full. Interest on Eurodollar Advances and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances Borrowings shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Borrowing is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advancea Borrowing, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Term Loan Credit Agreement (Patterson Companies, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating the Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturityon the Commitment Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Base Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Eurodollar Interest Period, on any date on which the such Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturityon the Commitment Termination Date. Interest accrued on each Eurodollar Advance having an a Eurodollar Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Eurodollar Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest Fees payable hereunder and interest on Floating Base Rate Advances shall be calculated for the actual number of days elapsed on the basis of a 365/366-day yearyear consisting of 365, or where appropriate, 366 days. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 2:00 p.m. (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on the Closing Date and each Payment Date, commencing with the first such date Payment Date to occur after the Closing Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Eurocurrency Advances, Swing Line Loans, LC Fees and on the date of payment in full. Interest on Eurodollar Advances and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Revolving Loans denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day year. Interest on Floating Rate Advances (other than Swing Line Loans) shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, Borrowing Date with respect to such Alternate Base Rate Loan and on any date on which such Floating the Alternate Base Rate Advance Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversionFacility Termination Date. Interest accrued on each Eurodollar Advance Eurocurrency Loan shall be payable on the last day of each its applicable Interest Period, Period and on any date on which the Eurodollar Advance such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurodollar Advance Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the day that such Loan interest is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and based on the date of payment in full. Interest on Eurodollar Advances Alternate Base Rate), Commitment Fees and other fees hereunder hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest year and (b) interest on Floating Loans which are Alternate Base Rate Advances Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 2:00 p.m. (in the case of a payment received from WBA, New York time, and in the case of a payment received from the Designated Borrower, London time), in the case of a Loan denominated in Dollars or (y) the Applicable Time, in the case of a Loan denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on an Advancea Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances Advances, LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-365/366- day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Chicago, Illinois time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Credit Agreement (Roto-Rooter Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and or at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and facility and utilization fees hereunder and LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , and interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366365-day year, or when appropriate, a 366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Samples: Credit Agreement (Unitrin Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Eurocurrency Advances, Swing Line Loans, LC Fees and on the date of payment in full. Interest on Eurodollar Advances and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Revolving Loans denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, Borrowing Date with respect to such Alternate Base Rate Loan and on any date on which such Floating the Alternate Base Rate Advance Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversionFacility Termination Date. Interest accrued on each Eurodollar Advance Eurocurrency Loan shall be payable on the last day of each its applicable Interest Period, Period and on any date on which the Eurodollar Advance such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Eurodollar Advance Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the day that such Loan interest is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and based on the date of payment in full. Interest on Eurodollar Advances Alternate Base Rate), Commitment Fees and other fees hereunder hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest year and (b) interest on Floating Loans which are Alternate Base Rate Advances Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 2:00 p.m. (New York time) at the place of payment. If any payment of principal of or interest on an Advancea Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Original Effective Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Fixed Rate Loan shall be payable on the last day of the Interest Period applicable to the Advance of which such Loan is a part and, in the case of a Fixed Rate Advance with an Interest Period of more than 90 days’ duration (unless otherwise specified in the applicable Competitive Bid Request), each day prior to the last day of such Interest Period that occurs at intervals of 90 days’ duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive Bid Request as dates for payment of interest with respect to such Advance. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances Advances, Fixed Rate Loans and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Five Year Revolving Credit Agreement (Amerenenergy Generating Co)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Swing Line Loan shall be payable on each Payment Date, on any date on which such Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the such Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366365-day year or, when appropriate, a 366-day year. All other interest and all fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Samples: Credit Agreement (Portland General Electric Co /Or/)
Interest Payment Dates; Interest and Fee Basis. (a) Interest accrued on each Floating Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating an Alternate Base Rate Advance is prepaid (with respect to the principal so prepaid), whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurodollar Term SOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Term SOFR Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Term SOFR Advance is prepaid (with respect to the principal so prepaid), whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Term SOFR Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required with respect to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Term SOFR Loans and on the date of payment in full. Interest on Eurodollar Advances and commitment fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating with respect to Alternate Base Rate Advances shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is made in full and received prior to 12:00 noon p.m. (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
(b) With respect to any Term SOFR Advances, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement; provided that, with respect to any such amendment effected, the Administrative Agent shall post each such amendment implementing such Conforming Changes to the Borrower and the Lenders reasonably promptly after such amendment becomes effective.
Appears in 1 contract
Samples: Term Loan Credit Agreement (Aon PLC)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest ; provided, that interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Eurocurrency Advances (other than Eurocurrency Advances denominated in British Pounds Sterling), LC Fees and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder Commitment Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest ; interest on Floating Rate Advances for which the Prime Rate is the basis and Eurocurrency Advances denominated in British Pounds Sterling shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance, Same Day Dollar Advance or Tranche B Same Day Multi-Currency Advance denominated in Euro shall be payable in arrears by the applicable Borrower on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on each Alternative Currency Daily Rate Advance or Tranche B Same Day Multi-Currency Advance denominated in Sterling shall be payable by the applicable Borrower on each Interest Payment Date, commencing with the first such date to occur after the date hereof, on any date on which such Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Base Rate Advance, Same Day Dollar Advance or Tranche B Same Day Multi-Currency Advance converted into a Eurodollar Term Rate Advance on a day other than a Payment Date shall be payable by the applicable Borrower on the date of conversion. Interest accrued on each Eurodollar Term Rate Advance shall be payable by the applicable Borrower on the last day of each its applicable Interest Period, on any date on which the Eurodollar such Term Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Term Rate Advance having an Interest Period longer than three months shall also be payable by the applicable Borrower on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and commitment fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , provided, that interest on Floating Base Rate Advances Loans, Tranche B Same Day Multi-Currency Loans and Alternative Currency Daily Rate Loans determined in reference to Simple XXXXX or XXXXX, as the case may be, shall be calculated for actual days elapsed on the basis of a 365/366365-day year or when appropriate, a 366-day year. Interest shall be payable by the applicable Borrower for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder a Loan shall become due on a day which is not a Business Day, such payment shall be made by the applicable Borrower on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating an Alternate Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required with respect to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Eurodollar Loans, facility fees, utilization fees and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder LC Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating with respect to Alternate Base Rate Advances Loans shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is made in full and received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Samples: Credit Agreement (Aon Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance (other than a Swing Line Loan) shall be payable in arrears on the Closing Date and each Payment Date, commencing with the first such date Payment Date to occur after the Closing Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Swing Line Loan shall be payable on the last day that of each calendar month (including the first day of such Loan is required to be repaid. Interest accrued on any Advance that is month but not paid when due shall be payable on demand including the last day of such month) and on the date Maturity Date (it being understood and agreed that the Borrower shall pay any accrued and unpaid interest in respect of payment in fullthe Existing Swing Line Loans upon the first of such dates to occur after the Closing Date). Interest on Eurodollar Advances Eurocurrency Advances, Swing Line Loans, LC Fees and all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year, except for interest on Revolving Loans denominated in British Pounds Sterling or determined by reference to the Prime Rate, which shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest on Floating Rate Advances (other than Swing Line Loans) shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York timeLocal Time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on date hereof. If any date on which such Floating Base Rate Advance is prepaid, accrued interest on the principal amount prepaid shall be payable on the date of such prepayment, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Base Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on Interest, LC Fees, and other fees (except as provided in the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder following sentence) shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , except for interest on Floating Loans denominated in Sterling, Loans comprised of Base Rate Advances Advances, or Loans accruing interest on the CDOR Rate which shall be calculated for actual days elapsed on the basis of a 365/366365-day year. Commitment Fees shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of paymentpayment specified in Section 2.14. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Effective Date, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar LIBOR Advance on a day other than a Payment Date shall be payable on the date of conversionnext succeeding Payment Date. Interest accrued on each Eurodollar LIBOR Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar LIBOR Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar LIBOR Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar all Advances and fees hereunder (including LC Fees) shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be SIDLEY XXXXXX XXXXX & XXXX LLP payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 2:00 p.m. (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing DateBorrowing Date with respect to such Alternate Base Rate Loan, and on any date on which such Floating the Alternate Base Rate Advance Loan, is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversionFacility Termination Date applicable to such Alternate Base Rate Loan. Interest accrued on each Eurodollar Advance Swing Line Loan shall be payable on any date on which such Swing Line Loan is repaid or prepaid, whether due to Section 2.07(c)(ii), acceleration or otherwise, and on the Facility Termination Date applicable to such Swing Line Loan. Interest accrued on each Eurocurrency Loan shall be payable on the last day of each its applicable Interest Period, Period and on any date on which the Eurodollar Advance such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date applicable to such Eurocurrency Loan. Interest accrued on each Eurodollar Advance Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the day that such Loan interest is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and based on the date of payment in full. Interest on Eurodollar Advances Alternate Base Rate), Commitment Fees and other fees hereunder hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest year and (b) interest on Floating Loans which are Alternate Base Rate Advances Loans where the interest is based on the Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance a Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 2:00 p.m. (New York time), in the case of a Loan denominated in Dollars or (y) the Applicable Time, in the case of a Loan denominated in a Foreign Currency, in each case, at the place of payment. If any payment of principal of or interest on an Advancea Loan, any fees or any other amounts payable to the Administrative Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such a Floating Rate Advance Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance Loan converted into a Eurodollar Advance LIBOR Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance LIBOR Loan shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance LIBOR Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance LIBOR Loan having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan Facility fees shall be payable calculated on the basis of a 365 or 366-day that such Loan is required to be repaidyear. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date All interest in respect of payment in full. Interest on Eurodollar Advances and fees hereunder LIBOR Loans shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on All interest in respect of Floating Rate Advances Loans by reference to the Alternate Base Rate shall be calculated on a 365 or 366-day year basis, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Federal Funds Effective Rate shall be calculated on a 360-day year basis for actual days elapsed on the basis of a 365/366-day yearelapsed, as applicable. Interest shall be payable for the day an Advance Loan is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 1:00 p.m. (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Loan shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Samples: Credit Agreement (Cna Surety Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate ABR Advance and Swing Line Loan shall be payable in arrears on each Monthly Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating Rate the ABR Advance or Swing Line Loan is prepaid, whether due to acceleration or otherwise, and at maturityon the Termination Date. Interest accrued on that portion of the outstanding principal amount of any Floating Rate ABR Advance converted into a Eurodollar Advance on a day other than a Monthly Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance and Competitive Loan shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance or Competitive Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan ABR Loans, Swing Line Loans and Competitive Loans, Commitment Fees and Facility Letter of Credit Fees shall be payable calculated for actual days elapsed on the basis of a 365-day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest (or, if applicable, 366-day) year; interest on Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon 1:00 p.m. (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Samples: Credit Agreement (Lennar Corp /New/)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and each Swing Line Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwisehereof, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the such Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month three (3)‑month interval during such Interest Period. Interest accrued on each Swingline Loan All computations of interest for Floating Rate Loans and Swing Line Loans (including Floating Rate Loans determined by reference to the Eurodollar Rate) shall be payable made on the day that such Loan is required to be repaidbasis of a year of 365 or 366 days, as the case may be, and actual days elapsed. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date All other computations of payment in full. Interest on Eurodollar Advances interest and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day 360‑day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) 1:00 p.m. at the place of paymentpayment (it being understood that the Administrative Agent shall be deemed to have received a payment prior to 1:00 p.m. if (x) the Borrower has provided the Administrative Agent with evidence satisfactory to the Administrative Agent that the Borrower has initiated a wire transfer of such payment prior to such time and (y) the Administrative Agent actually receives such payment on the same Business Day on which such wire transfer was initiated). If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Base Rate Advance shall be payable in arrears (a) on each Payment Date, commencing with the first such date Payment Date to occur after the Closing Effective Date, (b) on any date on which such Floating Rate Advance is prepaid, whether due the Revolving Loan Termination Date (with respect to acceleration or otherwiseRevolving Loan Advances), and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable (c) on the date of conversionTerm Loan Maturity Date (with respect to the Term Loans). Interest accrued on each Eurodollar Eurocurrency Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance is prepaid, whether by acceleration or otherwise, on the Revolving Loan Termination Date (with respect to Revolving Loan Advances), and at maturityon the Term Loan Maturity Date (with respect to the Term Loans). Interest accrued on each Eurodollar Eurocurrency Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan pursuant to Section 2.9 shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in fulldemand. Interest on Eurodollar all Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , except that interest calculated based on Floating the Base Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York Eastern time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become Advance becomes due on a day which that is not a Business Day, such payment shall be made on the next succeeding Business Day andDay. If the Administrative Agent receives any payment from the Borrower pursuant to this Section 2.13 before 12:00 p.m. (Eastern time) on any Business Day, in the case of principal paymentAdministrative Agent shall remit such proceeds ratably to the Lenders by 3:00 p.m. (Eastern time) on such Business Day. If the Administrative Agent receives any payment from the Borrower pursuant to this Section 2.13 after 12:00 p.m. (Eastern time) on any Business Day, the Administrative Agent shall remit such extension of time shall be included in computing interest, fees and commissions in connection with such paymentproceeds ratably to the Lenders by 3:00 p.m. (Eastern time) on the following Business Day.
Appears in 1 contract
Samples: Credit Agreement (Bancorpsouth Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating an Alternate Base Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Alternate Base Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required with respect to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Eurodollar Loans, facility fees, utilization fees and on the date of payment in full. Interest on Eurodollar Advances and term out fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating with respect to Alternate Base Rate Advances Loans shall be calculated for the actual days elapsed on the basis of a 365/366365 or 366-day year, as applicable. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is made in full and received prior to 12:00 noon (New York Chicago time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Samples: 364 Day Credit Agreement (Aon Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance optionally prepaid or converted into a Eurodollar Advance Advance, in each case on a day other than a Payment Date Date, shall be payable on the Payment Date next succeeding the date of such prepayment or conversion, as the case may be. Interest accrued on each Eurodollar Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on all Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate all other Types of Advances shall be calculated for actual days elapsed on the basis of a 365/366365, or when applicable, a 366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate the Advance is prepaid, whether due to by acceleration or otherwise, and at maturityon the Facility Termination Date with respect to such Advance. Interest In addition, interest accrued on that portion of the outstanding principal amount of any Floating Base Rate Advance converted into to a Eurodollar SOFR Advance on a any day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar SOFR Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued With respect to interest on each Swingline Loan shall be payable on the day that all Base Rate Advances, Ticking Fees and other fees hereunder, such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and interest or fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. With respect to all SOFR Advances, interest shall be calculated for actual dates elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior prior
to 12:00 noon 1 00 p.m. (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day Day, and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest on Floating Rate Loans shall be calculated for actual days elapsed on the basis of a 365 or 366-day year, as appropriate. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable in arrears on the last day of each its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand Facility fees, utilization fees and on the date of payment in full. Interest interest on Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
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Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance and Canadian Prime Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Datedate hereof, on any date on which such the Floating Rate Advance or Canadian Prime Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Eurocurrency Advance and Offered Rate Advance shall be payable on the last day of each its applicable Interest Period, on any date on which the Eurodollar Eurocurrency Advance or Offered Rate Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Eurocurrency Advance or Offered Rate Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on Interest, LC Fees, and other fees (except as provided in the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder following sentence) shall be calculated for actual days elapsed on the basis of a 360-day year. Interest , except for interest on Loans denominated in British Pounds Sterling, Loans comprised of Floating Rate Advances, and Advances bearing interest at the Canadian Prime Rate which shall be calculated for actual days elapsed on the basis of a 365/366365-day year. Facility Fees and utilization fees shall be calculated for actual days elapsed on the basis of a 365-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York local time) at the place of paymentpayment specified in Section 2.14. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions interest in connection with such payment.
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