Common use of Interest Payment Dates; Interest and Fee Basis Clause in Contracts

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, at maturity, whether by acceleration or otherwise. Interest and all other fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on a 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 in connection with such payment.

Appears in 3 contracts

Samples: Term Loan Agreement (Inland Real Estate Corp), Term Loan Agreement (Inland Real Estate Corp), Term Loan Agreement (Inland Real Estate Corp)

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Interest Payment Dates; Interest and Fee Basis. Interest accrued on each the Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, at maturity, whether by acceleration or otherwise. Interest and all other fees Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a the Loan is made but not for the day of any payment on the amount paid if payment is received prior to noon (local Cleveland time) at the place of payment. If any payment of principal of or interest on a the 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 in connection with such payment.

Appears in 2 contracts

Samples: Loan Agreement (Inland Diversified Real Estate Trust, Inc.), Loan Agreement (Inland Diversified Real Estate Trust, Inc.)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Loan LIBO Rate Advance shall be payable on each Term Loan Payment Date, commencing with the first such date to occur after the date hereof, hereof and at maturity, whether by acceleration or otherwise. Interest and all other commitment fees shall be calculated for actual days elapsed on the basis of a 360-360 day year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on a Loan an Advance shall become due on a day which is not a Business Day, such payment the due date shall be made on extended to the next succeeding Business Day; provided, however, that if such next succeeding Business Day and, occurs in the case of a principal paymentfollowing calendar month, such extension of time then the due date shall be included in computing interest in connection with such paymentthe immediately preceding Business Day.

Appears in 2 contracts

Samples: Credit Agreement (Barry R G Corp /Oh/), Credit Agreement (Barry R G Corp /Oh/)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Loan shall be payable on the last day of each Payment Datemonth, commencing with the first such date to occur after the date hereof, at maturity, whether by on any date on which the Loan is prepaid due to acceleration or otherwise, and at maturity. Interest and all other commitment fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on a 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 in connection with such payment.

Appears in 2 contracts

Samples: Credit Agreement (Origen Financial Inc), Credit Agreement (Bingham Financial Services Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Loan Borrowing shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at maturity, whether by acceleration or otherwise. Interest and all other fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan Borrowing is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on a Loan Borrowing 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 in connection with such payment.

Appears in 2 contracts

Samples: Secured Term Loan Agreement (Developers Diversified Realty Corp), Secured Term Loan Agreement (Developers Diversified Realty Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Loan Advance shall be payable in arrears on the last day of each Payment Datemonth, commencing with the first such date to occur after the date hereof, at maturityupon any prepayment, whether by acceleration or otherwise, and at the Facility Termination Date. Interest and all other fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on a Loan an 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 in connection with such payment.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Developers Diversified Realty Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Loan Advance shall be payable on the last day of each Payment Datemonth, commencing with the first such date to occur after the date hereof, at maturityupon any prepayment, whether by acceleration or otherwise, and at the Facility Termination Date. Interest and all other fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on a Loan an 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 in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Developers Diversified Realty Corp)

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Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Loan Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at maturity, whether by acceleration or otherwise. Interest and all other fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local Cleveland time) at the place of payment. If any payment of principal of or interest on a Loan an 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 in connection with such payment.

Appears in 1 contract

Samples: Loan Agreement (Glimcher Realty Trust)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Loan shall be payable on each Payment Date, commencing with the first such date to occur after Plan Effectiveness, on any date on which such Loan is prepaid (on the date hereof, at maturityportion so prepaid), whether by due to acceleration or otherwise, and at maturity. Interest and all other fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall not be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on a 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 in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Lason Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Loan Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at maturity, whether by acceleration or otherwise. Interest and all other fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on a Loan an 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 in connection with such payment.

Appears in 1 contract

Samples: Secured Term Loan Agreement (Developers Diversified Realty Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Revolving Credit Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, hereof and at maturity, whether by acceleration or otherwise. Interest and all other commitment fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on a Loan an 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 in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Lason Inc)

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