Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Alternate Base 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate 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, Facility Fees and Utilization Fees shall be calculated for actual days elapsed on the basis of a 360 day year, except that interest calculated based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 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. Whenever any payment to the Administrative Agent or any Lender under the Loan Documents would otherwise be due on a day that is not a Business Day, such payment shall instead be due on the next succeeding Business Day; provided, however, that if such next succeeding Business Day falls in a new calendar month, such 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 payable on demand.
Appears in 4 contracts
Samples: Assignment Agreement (WGL Holdings Inc), Assignment Agreement (Washington Gas Light Co), Assignment Agreement (WGL Holdings Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, Borrowing Date with respect to such Alternate Base Rate Loan and on any date on which the Alternate Base 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionFacility Termination Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, Period and on any date on which the Non-Absolute Bid Rate such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local 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. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofFunding Date, on any date on which the Alternate Base 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 Maturity Date applicable to such Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionLoan. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Maturity Date applicable to such Eurocurrency Loan. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Ticking Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative any Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Floating Rate Loan Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the Alternate Base such Floating Rate Loan Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Floating Rate Loan Advance converted into a Eurodollar Base Rate Loan Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Eurocurrency Advance or Indexed Rate Loan Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Eurocurrency Advance or Indexed Rate Loan Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Eurocurrency Advance or Indexed Rate Loan 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. InterestInterest accrued on each Absolute Rate Advance shall be payable on the last day of its applicable Interest Period, Facility Fees on the date on which the Absolute Rate Advance is prepaid, whether by acceleration or otherwise, at maturity, and Utilization on such intervening dates prior to the maturity thereof as may be specified by the Borrower in the applicable Competitive Bid Quote Request and agreed to by the applicable Lender in the applicable Competitive Bid Quote. Notwithstanding the foregoing, interest accrued pursuant to Section 2.13 shall be payable on demand. Interest on Eurocurrency Advances, Competitive Bid Advances and Commitment Fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that and interest on Floating Rate Advances shall be calculated based for actual days elapsed on the Prime Rate 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, or when appropriate 366, -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 12:00 noon (local timeLocal Time) at the place of payment. Whenever 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 under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest in connection with such payment.
Appears in 3 contracts
Samples: Assignment Agreement (General Dynamics Corp), Credit Agreement (General Dynamics Corp), Assignment Agreement (General Dynamics Corp)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base 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 date hereof, on any date on which the Alternate Base 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 Alternate Base Floating Rate Loan Advance converted into a Eurodollar Base Rate Loan Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Loan Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Loan Eurodollar 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. InterestInterest accrued pursuant to Section 2.11 shall be payable on demand. Interest on Eurodollar Advances, Facility Swing Line Loans (other than Swingline Loans that are Floating Rate Advances), LC Fees and Utilization Fees all other fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that interest calculated based . Interest on the Prime Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 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 Charlotte, North Carolina time) at the place of payment. Whenever 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 under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest and fees 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 Alternate Base Floating Rate Loan 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 date hereofClosing Date, on any date on which the Alternate Base Floating Rate Loan Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Floating Rate Loan Advance converted into a Eurodollar Base Rate Loan Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Loan Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Loan Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued on each Swing Line Loan shall be payable on the last day of each calendar month (including the first day of such month but not including the last day of such month) and on the Maturity Date (it being understood and agreed that the Borrower shall pay any accrued and unpaid interest in respect of the Existing Swing Line Loans upon the first of such dates to occur after the Closing Date). Interest on Eurocurrency Advances, Facility Swing Line Loans, LC Fees and Utilization Fees all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that for interest calculated based on the Prime Rate Revolving Loans denominated in British Pounds Sterling, which shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 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 a Loan 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 (local timeLocal Time) at the place of payment. Whenever 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 under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Floating Rate Loan and each LIBOR Market Index Rate Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Alternate Base such Floating Rate 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 Alternate Base Floating Rate Loan converted into a Eurodollar Base 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 Non-Absolute Bid Rate Eurodollar Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate such Eurodollar Loan is prepaidpaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Eurodollar 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, Facility Commitment Fees, Utilization Fees, LC Fees and Utilization LC Fronting Fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that interest calculated on Floating Rate Loans accruing at a rate based on the Prime Reference Rate shall be calculated for actual days elapsed computed on the basis of a 365, 365- or when appropriate 366, -day year, as applicable. 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 1:00 p.m. (local New York time) at the place of payment). Whenever If any payment to the Administrative Agent of principal of or interest on a Loan or any Lender under the Loan Documents would otherwise be payment of fees in connection herewith shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; provided, however, that if and such next succeeding Business Day falls in a new calendar month, such 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 extension 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 payable on demandreflected in computing interest or fees, as 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 Alternate Base Rate Loan and each LIBOR Market Index Rate Loan shall be payable on each Payment Date, commencing with the first such date to occur after the date hereofAgreement Date, on any date on which the Alternate Base Rate 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 Alternate Base Rate Loan converted into a Eurodollar Base LIBOR Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid LIBOR Rate Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid LIBOR Rate 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, Facility Fees and Utilization LC Fees shall be calculated for actual days elapsed on the basis of a 360 day year, except that interest calculated based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 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. Whenever any payment to the Administrative Agent or any Lender under the Loan Documents would otherwise be due on a day that is not a Business Day, such payment shall instead be due on the next succeeding Business Day; provided, however, that if such next succeeding Business Day falls in a new calendar month, such 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 payable 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 Alternate Base 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 date hereof, on any date on which the Alternate Base 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 Alternate Base Floating Rate Loan Advance converted into a Eurodollar Base Rate Loan EurodollarSOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Loan EurodollarSOFR Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan EurodollarSOFR Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Loan EurodollarSOFR 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, Facility Fees and Utilization Fees shall be calculated for actual days elapsed Interest on Floating Rate Advances when the basis of a 360 day year, except that interest calculated based on Alternate Base Rate is determined by the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, day year. All other computations of interest, LC Fees 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. Whenever 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 Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such payment extension of time shall instead be due on included in computing interest and fees in connection with such payment. In connection with the immediately preceding Business Day. If use or administration of Term SOFR, the date Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any payment under the Loan Documents is due is extended (whether by operation of any other Loan Document, Applicable Law any amendments implementing such Conforming Changes will become effective without any further action or otherwise), such payment shall bear interest for such extended time at consent of any other party to this Agreement or any other Loan Document. The Agent will promptly notify Borrower and the rate Lenders of interest applicable hereunder. Interest at the Overdue Rate shall be payable on demandeffectiveness 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 Alternate Base Rate Loan Advance shall be payable by the applicable Borrower on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Alternate such Base Rate Loan Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Loan Advance converted into a Eurodollar Base Rate Loan 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 Non-Absolute Bid Rate Loan Eurocurrency Advance shall be payable by the applicable Borrower on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan such Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Loan 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. InterestInterest accrued on each Foreign Currency Swing Loan, Facility Fees on each Euro Swing Loan and Utilization Fees on each U.S. Swing Loan shall be paid by the applicable Borrower on the 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 prepaid, whether due to acceleration or otherwise. Interest and commitment fees shall be calculated for actual days elapsed on the basis of a 360 day 360‑day year, except that for interest on Base Rate Loans calculated based on by reference to the Prime Rate “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, 365‑day year or when appropriate appropriate, a 366, -day year. Interest shall be payable by the applicable Borrower 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. Whenever If any payment to the Administrative Agent of principal of or any Lender under the interest on a Loan Documents would otherwise be shall become due on a day that which is not a Business Day, such payment shall instead be due made by the applicable Borrower on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest in connection with such payment.
Appears in 2 contracts
Samples: Day Revolving Credit Agreement (Visa Inc.), Assignment and Assumption (Visa Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofEffective Date, on any date on which the Alternate Base Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturityon the Maturity Date. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Loan converted into a Eurodollar Base Rate Eurocurrency Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Maturity Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans) and other fees hereunder, Facility Fees and Utilization Fees such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day yearyear and (b) interest on Alternate Base Rate Loans, except that such interest calculated based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 1:00 p.m. (local Pacific time) ), at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative any Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan Advance, Same Day Dollar Advance or Tranche B Same Day Multi-Currency Advance shall be payable by the applicable Borrower on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Alternate Base Rate Loan such Revolving Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Loan Advance, Same Day Dollar Advance or Tranche B Same Day Multi-Currency Advance converted into a Eurodollar Base Eurocurrency Rate Loan 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 Non-Absolute Bid Eurocurrency Rate Loan Advance shall be payable by the applicable Borrower on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid such Eurocurrency Rate Loan Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Eurocurrency Rate Loan 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. InterestInterest accrued on each Swing Loan shall be paid by the applicable Borrower on the Maturity Date therefor and on any date on which such Swing Loan is prepaid, Facility Fees whether due to acceleration or otherwise. Interest and Utilization Fees commitment fees shall be calculated for actual days elapsed on the basis of a 360 day 360‑day year, except that for (x) interest on Base Rate Loans calculated based on by reference to the Prime Rate “prime rate” of Bank of America, which shall be calculated for actual days elapsed on the basis of a 365, 365‑day year or when appropriate appropriate, a 366-day year and (y) Swing Loans denominated in Sterling and Revolving Loans denominated in Sterling, day which shall be calculated for actual days elapsed on the basis of a 365‑day year. Interest shall be payable by the applicable Borrower 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. Whenever If any payment to the Administrative Agent of principal of or any Lender under the interest on a Loan Documents would otherwise be shall become due on a day that which is not a Business Day, such payment shall instead be due made by the applicable Borrower on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest in connection with such payment.
Appears in 1 contract
Samples: Credit Agreement (Visa Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest is payable beginning December 1, 2016, and on the same date of each consecutive month thereafter (except that if a given month does not have such a date, the last day of such month), and on the date of any prepayment on the amount prepaid, plus a final interest payment with the final payment of principal. Interest accrued on each Alternate Base Rate Loan pursuant to Section 2.7 shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Alternate Base Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturitydemand. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan is prepaid, whether by acceleration or otherwise, all Loans and at maturity. Interest accrued on each Non-Absolute Bid Rate 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, Facility Fees and Utilization Fees fees shall be calculated for actual days elapsed on the basis of a 360 day year, except that interest calculated based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 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 12:00 noon (local timeCentral Standard Time) at the place of payment. Whenever If any payment to the Administrative Agent of principal of or any Lender under the interest on a Loan Documents would otherwise be shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; provided. If, howeveras a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other reason, the Borrower or the Lender determines that if (i) the IBD/EBITDA Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the IBD/EBITDA Leverage Ratio would have resulted in higher pricing for such next succeeding Business Day falls in a new calendar monthperiod, such payment the Borrower shall instead immediately and retroactively be due on obligated to pay to the immediately preceding Business Day. If Lender promptly upon demand (or, after the date any payment occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Loan Documents is due is extended (whether Bankruptcy Code of the United States, automatically and without further action by operation of any Loan Document, Applicable Law or otherwisethe Lender), such payment shall bear an amount equal to the excess of the amount of interest and fees that should have been paid for such extended time at period over the rate amount of interest applicable hereunder. Interest at the Overdue Rate shall be payable on demandand fees actually paid for such period.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofFunding Date, on any date on which the Alternate Base 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionMaturity Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Maturity Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Prime Rate) and fees hereunder, Facility Fees and Utilization Fees such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loan which are Alternate Base Rate Loans where the interest is based on the Prime Rate Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative any Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Backstop Bridge Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan and each LIBOR Daily Floating Rate shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofBorrowing Date with respect to such Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, as applicable, and on any date on which the Alternate Base Rate Loan or LIBOR Daily Floating Rate 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Eurocurrency Loan (other than LIBOR Daily Floating Rate Loan Loans) shall be payable on the last day of its applicable Interest Period, Period and on any date on which the Non-Absolute Bid Rate such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan and each LIBOR Daily Floating Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofBorrowing Date with respect to such Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, as applicable, and on any date on which the Alternate Base Rate Loan or LIBOR Daily Floating Rate 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Eurocurrency Loan (other than LIBOR Daily Floating Rate Loan Loans) shall be payable on the last day of its applicable Interest Period, Period and on any date on which the Non-Absolute Bid Rate such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan Advance shall be payable (a) on each Payment Date, commencing with the first such date Payment Date to occur after the date hereofEffective Date, (b) on any date on which the Alternate Base Rate Revolving Loan is prepaid, whether due 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan 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 Non-Absolute Bid Rate Loan Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan 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 Non-Absolute Bid Rate Loan 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, Facility Fees Interest accrued pursuant to Section 2.9 shall be payable on demand. Interest on all Advances and Utilization Fees fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that interest calculated based on the Prime Base Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 12:00 noon (local Eastern time) at the place of payment. Whenever If any payment to the Administrative Agent of principal of or any Lender under the Loan Documents would otherwise be interest on an Advance becomes due on a day that is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; provided. 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, however, that if the Administrative Agent shall remit such next succeeding Business Day falls in a new calendar month, proceeds ratably to the Lenders by 3:00 p.m. (Eastern time) on such payment shall instead be due on the immediately preceding Business Day. If the date Administrative Agent receives any payment under from the Loan Documents is due is extended Borrower pursuant to this Section 2.13 after 12:00 p.m. (whether Eastern time) on any Business Day, the Administrative Agent shall remit such proceeds ratably to the Lenders by operation of any Loan Document, Applicable Law or otherwise), such payment shall bear interest for such extended time at 3:00 p.m. (Eastern time) on the rate of interest applicable hereunder. Interest at the Overdue Rate shall be payable on demandfollowing Business Day.
Appears in 1 contract
Samples: Credit Agreement (Bancorpsouth Inc)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofEffective Date, on any date on which the Alternate Base Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturityon the Maturity Date. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Loan converted into a Eurodollar Base Rate Eurocurrency Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Maturity Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans), Facility Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day yearyear and (b) interest on Alternate Base Rate Loans, except that such interest calculated based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 1:00 p.m. (local Pacific time) ), at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative any Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Floating Rate Loan Borrowing shall be payable in arrears on each Payment Date, commencing with the first such date Payment Date to occur after the date hereofClosing Date, on any date on which the Alternate Base Floating Rate Loan Borrowing is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Floating Rate Loan Borrowing converted into a Eurodollar Base Rate Loan Eurocurrency Borrowing on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Loan Eurocurrency Borrowing shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan such Eurocurrency Borrowing is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Loan Eurocurrency Borrowing having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest on Eurocurrency Borrowings, Facility Fees and Utilization Fees all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that interest calculated based . Interest on the Prime Floating Rate Borrowings shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 12:00 noon (local time) at the place of payment. Whenever If any payment of principal of or interest on a Borrowing, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan ABR Advance shall be payable on each Payment Datemonthly, commencing with such payment being due, with respect to any calendar month, not later than the first fifth day after submission by the Administrative Agent to the Borrower of an invoice for such date to occur after calendar month (or portion thereof in the date hereof, on any date on which the Alternate Base Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion case of the outstanding principal amount of any Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionAugust 2018). Interest accrued on each Non-Absolute Bid Rate Loan Term SOFR Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan Term SOFR Advance is prepaid, whether by due to acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Loan Term SOFR Advance having an Interest Period longer than three months shall also be payable on each day prior to the last day of each such Interest Period that occurs at intervals of three month interval during months’ duration after the first day of such Interest Period. InterestInterest accrued on each Daily Simple SOFR Advance shall be payable monthly, Facility Fees with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice in arrears on the last day for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, and Utilization Fees at maturity. Interest and fees under this Agreement shall be calculated for actual days elapsed on the basis of a 360 360-day year, year except that interest calculated based on ABR Advances made at the Prime Rate shall be calculated for actual days elapsed on the basis of a 365-day (or, or when appropriate if applicable, 366, day -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 1:00 p.m. (local New York time) at the place of payment. Whenever If any payment to the Administrative Agent of principal of or any Lender under the interest on a Loan Documents would otherwise be shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; provided, however, that if Day and such next succeeding Business Day falls in a new calendar month, such 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 extension 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 payable on demandincluded in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Alternative Base Rate Loan Advance and each Alternative Currency Daily Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofEffective Date, and on any date on which the Alternate Base Rate Loan 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 Alternate Base Rate Loan Advance converted into a Eurodollar Base Rate Loan Term SOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Term SOFR Advance or Alternative Currency Term Rate Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Loan Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Prime Rate and SXXXX Advances and Alternative Currency Term Rate Advances based on Txxx XXXXX), Facility Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Advances (1) which are Alternate Base Rate Loans where the interest is based on the Prime Rate, (2) SXXXX Advances and (3) Alternative Currency Term Rate Advances based on Txxx XXXXX, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366 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 x) 1:00 p.m. (New York time), in the case of an Advance denominated in Dollars or (y) the Applicable Time, in the case of an Advance denominated in an Alternative Currency, in each case, at the place of payment. Whenever If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative any Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan and each LIBOR Daily Floating Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofBorrowing Date with respect to such Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, as applicable, and on any date on which the Alternate Base Rate Loan or LIBOR Daily Floating Rate 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Eurocurrency Loan (other than LIBOR Daily Floating Rate Loan Loans) shall be payable on the last day of its applicable Interest Period, Period and on any date on which the Non-Absolute Bid Rate such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Revolving Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofBorrowing Date with respect to such Alternate Base Rate Loan, and on any date on which the Alternate Base Rate Loan Loan, is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Facility Termination Date applicable to such Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionLoan. Interest accrued on each Non-Absolute Bid Rate 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 its applicable Interest Period, Period and on any date on which the Non-Absolute Bid Rate 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 Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local 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. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan Advance shall be payable by the applicable Borrower on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Alternate such Base Rate Loan Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Loan Advance converted into a Eurodollar Base Rate Loan 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 Non-Absolute Bid Rate Loan Eurocurrency Advance shall be payable by the applicable Borrower on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan such Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Loan 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 three-month interval during such Interest Period. Interest accrued on each Foreign Currency Swing Loan, on each Euro Swing Loan and on each U.S. Swing Loan shall be paid by the applicable Borrower on the Maturity Date therefor, on any date on which such Foreign Currency Swing Loan or such Euro Swing Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest, Facility Fees facility fees and Utilization Fees utilization fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that for interest on Base Rate Loans calculated based on by reference to the Prime Rate “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, -day year or when appropriate appropriate, a 366, -day year. Interest shall be payable by the applicable Borrower 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. Whenever If any payment to the Administrative Agent of principal of or any Lender under the interest on a Loan Documents would otherwise be shall become due on a day that which is not a Business Day, such payment shall instead be due made by the applicable Borrower on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofFunding Date with respect to such Alternate Base Rate Loan, on any date on which the Alternate Base 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 Maturity Date applicable to such Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionLoan. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Maturity Date applicable to such Eurocurrency Loan. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Ticking Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative any Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, Borrowing Date with respect to such Alternate Base Rate Loan and on any date on which the Alternate Base 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionFacility Termination Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, Period and on any date on which the Non-Absolute Bid Rate such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local 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. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, Borrowing Date with respect to such Alternate Base Rate Loan and on any date on which the Alternate Base 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionFacility Termination Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, Period and on any date on which the Non-Absolute Bid Rate such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofEffective Date, and on any date on which the Alternate Base 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Eurocurrency Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Maturity Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans), Facility Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day yearyear and (b) interest on Alternate Base Rate Loans, except that such interest calculated based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 1:00 p.m. (local Pacific time) ), at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative any Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, Borrowing Date with respect to such Alternate Base Rate Loan and on any date on which the Alternate Base 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, Period and on any date on which the Non-Absolute Bid Rate Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Revolving Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest is payable beginning August 1, 2016, and on the same date of each consecutive month thereafter (except that if a given month does not have such a date, the last day of such month), and on the date of any prepayment on the amount prepaid, plus a final interest payment with the final payment of principal. Interest accrued on each Alternate Base Rate Loan pursuant to Section 2.10 shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Alternate Base Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturitydemand. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan is prepaid, whether by acceleration or otherwise, all Loans and at maturity. Interest accrued on each Non-Absolute Bid Rate 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, Facility Fees and Utilization Fees fees shall be calculated for actual days elapsed on the basis of a 360 day year, except that interest calculated based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 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 12:00 noon (local timeDenver Time) at the place of payment. Whenever If any payment to the Administrative Agent of principal of or any Lender under the interest on a Loan Documents would otherwise be shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; provided. If, howeveras a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other reason, the Borrower or the Lender determines that if (i) the Senior Cash Flow Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Senior Cash Flow Leverage Ratio would have resulted in higher pricing for such next succeeding Business Day falls in a new calendar monthperiod, such payment the Borrower shall instead immediately and retroactively be due on obligated to pay to the immediately preceding Business Day. If Lender promptly upon demand (or, after the date any payment occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Loan Documents is due is extended (whether Bankruptcy Code of the United States, automatically and without further action by operation of any Loan Document, Applicable Law or otherwisethe Lender), such payment shall bear an amount equal to the excess of the amount of interest and fees that should have been paid for such extended time at period over the rate amount of interest applicable hereunder. Interest at the Overdue Rate shall be payable on demandand fees actually paid for such period.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofBorrowing Date with respect to such Alternate Base Rate Loan, on any date on which the Alternate Base 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionMaturity Date. Interest accrued on each Non-Absolute Bid SOFR Rate Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid such SOFR Rate Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Maturity Date. Interest accrued on each Non-Absolute Bid Rate Term SOFR Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued pursuant to Section 2.09 shall be payable on demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the interest is based on the Alternate Base Rate) and other fees hereunder, Facility Fees and Utilization Fees such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan Advance, Same Day Dollar Advance or Tranche B Same Day Multi-Currency Advance shall be payable by the applicable Borrower on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Alternate Base Rate Loan 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 Alternate Base Rate Loan Advance, Same Day Dollar Advance or Tranche B Same Day Multi-Currency Advance converted into a Eurodollar Base Eurocurrency Rate Loan 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 Non-Absolute Bid Eurocurrency Rate Loan Advance shall be payable by the applicable Borrower on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid such Eurocurrency Rate Loan Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Eurocurrency Rate Loan Advance having an Interest Period longer than three months shall also be payable by the applicable Borrower on the last day of each three three-month interval during such Interest Period. InterestInterest accrued on each Swing Loan shall be paid by the applicable Borrower on the Maturity Date therefor and on any date on which such Swing Loan is prepaid, Facility Fees whether due to acceleration or otherwise. Interest and Utilization Fees commitment fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that for interest on Base Rate Loans calculated based on by reference to the Prime Rate “prime rate” of Bank of America and Swing Loans denominated in Sterling and Revolving Loans denominated in Sterling, which shall be calculated for actual days elapsed on the basis of a 365, -day year or when appropriate appropriate, a 366, -day year. Interest shall be payable by the applicable Borrower 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. Whenever If any payment to the Administrative Agent of principal of or any Lender under the interest on a Loan Documents would otherwise be shall become due on a day that which is not a Business Day, such payment shall instead be due made by the applicable Borrower on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofBorrowing Date with respect to such Alternate Base Rate Loan, on any date on which the Alternate Base 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionMaturity Date. Interest accrued on each Non-Absolute Bid SOFR Rate Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid such SOFR Rate Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Maturity Date. Interest accrued on each Non-Absolute Bid Rate Term SOFR Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued pursuant to Section 2.09 shall be payable on demand. With respect to (a) interest on all Loans (other than Alternate Base Rate Loans where the interest is based on the Alternate Base Rate), Facility the Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Assignment and Assumption (Walgreens Boots Alliance, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Floating Rate Loan Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, on any date on which the Alternate Base Floating Rate Loan Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Floating Rate Loan Advance converted into a Eurodollar Base Rate Loan Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Loan Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Loan Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest on Eurocurrency Advances, Facility Swing Line Loans, LC Fees and Utilization Fees all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that for interest calculated based on the Prime Rate Revolving Loans denominated in British Pounds Sterling which shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, -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 a Loan 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 (local time) at the place of payment. Whenever 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 under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan AdvanceBorrowing shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofClosing Date, and on any date on which the Alternate Base Rate Loan AdvanceBorrowing is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Loan AdvanceBorrowing converted into a Eurodollar Base Rate Loan SOFR AdvanceBorrowing on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Loan Eurocurrency AdvanceBorrowing or SOFR AdvanceBorrowing shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan Eurocurrency AdvanceBorrowing or SOFR AdvanceBorrowing, as applicable, is prepaid, whether by acceleration or otherwise, and at maturityon the Facility TerminationFinal Maturity Date. Interest accrued on each Non-Absolute Bid Rate Loan Eurocurrency AdvanceBorrowing and each SOFR AdvanceBorrowing having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued pursuant to Section 2.11 shall be payable on demand. With respect to (a) interest on all AdvancesBorrowings (other than Base Rate Loans where the interest is based on the Prime Rate and Eurocurrency AdvancesBorrowings based on CDORTerm CXXXX), Facility Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on AdvancesBorrowings (1) which are Base Rate Loans where the interest is based on the Prime Rate and (2) Eurocurrency AdvancesBorrowings based on CDORTerm CXXXX, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366 day year. Interest shall be payable for the day a Loan an Advancea Borrowing is made but not for the day of any payment on the amount paid if payment is received prior to noon (local x) 1:00 p.m. (New York time), in the case of an Advancea Borrowing denominated in Dollars or (y) the Applicable Time, in the case of an Advancea Borrowing denominated in a Foreign Currency, in each case, at the place of payment. Whenever If any payment of principal of or interest on an Advancea Borrowing, any fees or any other amounts payable to the Administrative any Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; provided, howeverand, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Credit Agreement (RXO, Inc.)
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, Borrowing Date with respect to such Alternate Base Rate Loan and on any date on which the Alternate Base 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, Period and on any date on which the Non-Absolute Bid Rate Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate) and fees hereunder, Facility Fees and Utilization Fees such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan Advance shall be payable by the applicable Borrower on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Alternate such Base Rate Loan Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Loan Advance converted into a Eurodollar Base Rate Loan 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 Non-Absolute Bid Rate Loan Eurocurrency Advance shall be payable by the applicable Borrower on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan such Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Loan 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 three-month interval during such Interest Period. InterestInterest accrued on each Foreign Currency Swing Loan, Facility Fees on each Euro Swing Loan and Utilization Fees on each U.S. Swing Loan shall be paid by the applicable Borrower on the 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 prepaid, whether due to acceleration or otherwise. Interest and commitment fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that for interest on Base Rate Loans calculated based on by reference to the Prime Rate “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, -day year or when appropriate appropriate, a 366, -day year. Interest shall be payable by the applicable Borrower for the day a Loan is made but not for the day of any 38 364-Day Revolving Credit Agreement payment on the amount paid if payment is received prior to noon (local time) at the place of payment. Whenever If any payment to the Administrative Agent of principal of or any Lender under the interest on a Loan Documents would otherwise be shall become due on a day that which is not a Business Day, such payment shall instead be due made by the applicable Borrower on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Floating Rate Loan 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 date hereofClosing Date, on any date on which the Alternate Base Floating Rate Loan Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Floating Rate Loan Advance converted into a Eurodollar Base Rate Loan Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Loan Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Loan Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued on each Swing Line Loan shall be payable on the last day of each calendar month (including the first day of such month but not including the last day of such month) and on the Maturity Date (it being understood and agreed that the Borrower shall pay any accrued and unpaid interest in respect of the Existing Swing Line Loans upon the first of such dates to occur after the Closing Date). Interest on Eurocurrency Advances, Facility 12660163v2 Swing Line Loans, LC Fees and Utilization Fees all other fees hereunder shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that for interest calculated based on Revolving Loans denominated in British Pounds Sterling or determined by reference to the Prime Rate Rate, which shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 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 a Loan 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 (local timeLocal Time) at the place of payment. Whenever 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 under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofBorrowing Date with respect to such Alternate Base Rate Loan, on any date on which the Alternate Base Rate Loan Loan, is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionFacility Termination Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate) and other fees hereunder, Facility Fees and Utilization Fees such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan ABR Advance shall be payable on each Payment Datemonthly, commencing with such payment being due, with respect to any calendar month, not later than the first fifth day after submission by the Administrative Agent to the Borrower of an invoice for such date to occur after calendar month (or portion thereof in the date hereof, on any date on which the Alternate Base Rate Loan is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion case of the outstanding principal amount of any Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionSeptember 2012). Interest accrued on each Non-Absolute Bid Fixed Rate Loan Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Fixed Rate Loan Advance is prepaid, whether by due to acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Fixed Rate Loan Advance having an Interest Period longer than three months shall also be payable on the last first day of each three month interval calendar quarter during such Interest Period. InterestInterest accrued on each Daily Simple SOFR Advance shall be payable monthly, Facility Fees with such payment being due, with respect to any calendar month, not later than the fifth day after submission by the Administrative Agent to the Borrower of any invoice for such calendar month (or portion thereof in the case of October, 2022), on any date on which the Daily Simple SOFR Advance is prepaid, whether due to acceleration or otherwise, and Utilization Fees at maturity. Interest and fees under this Agreement shall be calculated for actual days elapsed on the basis of a 360 360-day year, year except that interest calculated based on ABR Advances made at the Prime Rate and Absolute Rate Advances shall be calculated for actual days elapsed on the basis of a 365-day (or, or when appropriate if applicable, 366, day -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 1:00 p.m. (local New York time) at the place of payment. Whenever If any payment to the Administrative Agent of principal of or any Lender under the interest on a Loan Documents would otherwise be shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest in connection with such payment.
Appears in 1 contract
Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Alternate Base Floating Rate Loan Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofEffective Date, on any date on which the Alternate Base Floating Rate Loan 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 Alternate Base Floating Rate Loan Advance converted into a Eurodollar Base Rate Loan Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Rate Loan Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Non-Absolute Bid Rate Loan Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Non-Absolute Bid Rate Loan Eurocurrency Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Advances which are Floating Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 x) 1:00 p.m. (New York 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. Whenever If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Administrative any Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan and each LIBOR Daily Floating Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereofBorrowing Date with respect to such Alternate Base Rate Loan or LIBOR Daily Floating Rate Loan, as applicable, and on any date on which the Alternate Base Rate Loan or LIBOR Daily Floating Rate 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Non-Absolute Bid Eurocurrency Loan (other than LIBOR Daily Floating Rate Loan Loans) shall be payable on the last day of its applicable Interest Period, Period and on any date on which the Non-Absolute Bid Rate such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Revolving Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local New York time) at the place of payment. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded 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 Alternate Base Rate Loan shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the date hereof, Borrowing Date with respect to such Alternate Base Rate Loan and on any date on which the Alternate Base 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 Alternate Base Rate Loan converted into a Eurodollar Base Rate Loan on a day other than a Payment Date shall be payable on the date of conversionFacility Termination Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan shall be payable on the last day of its applicable Interest Period, Period and on any date on which the Non-Absolute Bid Rate such Eurocurrency Loan is prepaid, whether by acceleration or otherwise, and at maturityon the Facility Termination Date. Interest accrued on each Non-Absolute Bid Rate Eurocurrency Loan having an Interest Period longer than three (3) months shall also be payable on the last day of each three three-month interval during such Interest Period. InterestInterest accrued 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 interest is based on the Alternate Base Rate), Facility Commitment Fees and Utilization Fees other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360 360-day year, except that year and (b) interest calculated on Loans which are Alternate Base Rate Loans where the interest is based on the Prime Rate Alternate Base Rate, such interest shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, 365/366-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 2:00 p.m. (local 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. Whenever If any payment of principal of or interest on a Loan, any fees or any other amounts payable to the Administrative Agent or any Lender under the Loan Documents would otherwise be hereunder shall become due on a day that which is not a Business Day, such payment shall instead be due made on the next succeeding Business Day; providedDay and, however, that if such next succeeding Business Day falls in the case of a new calendar monthprincipal payment, such 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 extension 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 payable on demandincluded in computing interest, fees and commissions in connection with such payment.
Appears in 1 contract
Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)