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

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at the Facility Termination Date, whether by acceleration or otherwise. Interest accrued on each LIBOR Advance shall also be payable on any date on which the LIBOR Advance is prepaid (provided that nothing herein shall authorize a prepayment which is not otherwise permitted hereunder). Interest and Commitment Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (Chicago time) at the place of payment, unless such Advance is repaid on the date that it was made. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 4 contracts

Samples: Unsecured Revolving Credit Agreement (Centerpoint Properties Trust), Unsecured Revolving Credit Agreement (Centerpoint Properties Corp), Unsecured Revolving Credit Agreement (Centerpoint Properties Trust)

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Interest Payment Dates; Interest and Fee Basis. Interest accrued on each CBR Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at the Facility Termination Date, whether by acceleration or otherwisematurity. Interest accrued on each LIBOR Advance shall also be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which such the LIBOR Advance is prepaid (provided that nothing herein shall authorize a prepayment which is not otherwise permitted hereunder)prepaid, whether by acceleration or otherwise, and at maturity. Interest and Commitment Fees facility fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (Chicago local time) at the place of payment, unless such Advance is repaid on the date that it was made. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 3 contracts

Samples: Unsecured Revolving Credit Agreement (Susa Partnership Lp), Unsecured Revolving Credit Agreement (Susa Partnership Lp), Unsecured Revolving Credit Agreement (Susa Partnership Lp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at the Facility Termination Datematurity, whether by acceleration or otherwise. Interest accrued on each LIBOR Advance shall also be payable on any date on which the LIBOR Advance is prepaid (provided that nothing herein shall authorize a prepayment which is not otherwise permitted hereunder). Interest and Commitment Facility Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (Chicago local time) at the place of payment, unless such Advance is repaid on the date that it was made. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Duke Realty Corp), Revolving Credit Agreement (Duke Weeks Realty Limited Partnership), Revolving Credit Agreement (Duke Weeks Realty Limited Partnership)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at the Facility Termination Date, whether by acceleration or otherwise. Interest accrued on each LIBOR Advance shall also not be payable on any date on which the LIBOR Advance is prepaid (provided that nothing herein shall authorize a prepayment which is not otherwise permitted hereunder), or converted to another LIBOR Advance or to a Prime Advance, as the case may be, but shall be payable on the next Payment Date. Interest Interest, Unused Credit Fees and Commitment Facility Letter of Credit Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon 1:00 p.m. (Chicago timeDallas, Texas Time) at the place of payment, unless such Advance is repaid on the date that it was made. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 2 contracts

Samples: Revolving Credit Agreement (RFS Hotel Investors Inc), Revolving Credit Agreement (RFS Hotel Investors Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at the Facility Termination Date, whether by acceleration or otherwise. Interest accrued on each LIBOR Advance shall also not be payable on any date on which the LIBOR Advance is prepaid (provided that nothing herein shall authorize a prepayment which is not otherwise permitted hereunder), or converted to another LIBOR Advance or to a Prime Advance, as the case may be, but shall be payable on the next Payment Date. Interest Interest, Unused Credit Fees and Commitment Facility Letter of Credit Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon 1:00 p.m. (Chicago Atlanta time) at the place of payment, unless such Advance is repaid on the date that it was made. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 2 contracts

Samples: Revolving Credit Agreement (RFS Hotel Investors Inc), Revolving Credit and Term Loan Agreement (RFS Hotel Investors Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on ---------------------------------------------- each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at the Facility Termination Datematurity, whether by acceleration or otherwise. Interest accrued on each LIBOR Advance shall also be payable on any date on which the LIBOR Advance is prepaid (provided that nothing herein shall authorize a prepayment which is not otherwise permitted hereunder). Interest and Revolving Commitment Fees shall be calculated for actual days elapsed on the basis of a 360-day year; provided that interest on ABR Advances shall be based on a 365 day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (Chicago local time) at the place of payment, unless such Advance is repaid on the date that it was made. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (National Golf Properties Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at the Facility Termination Date, whether by acceleration or otherwise. Interest accrued on each LIBOR Advance shall also be payable on any date on which the LIBOR Advance is prepaid (provided that nothing herein shall authorize a prepayment which is not otherwise permitted hereunder). Interest and Commitment Facility Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (Chicago time) at the place of payment, unless such Advance is repaid on the date that it was made. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 1 contract

Samples: Unsecured Revolving Credit Agreement (Centerpoint Properties Trust)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each ABR Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at the Facility Termination Date, whether by acceleration or otherwisematurity. Interest accrued on each LIBOR Advance shall also be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which such the LIBOR Advance is prepaid (provided that nothing herein shall authorize a prepayment which is not otherwise permitted hereunder)prepaid, whether by acceleration or otherwise, and at maturity. Interest and Commitment Fees facility fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (Chicago local time) at the place of payment, unless such Advance is repaid on the date that it was made. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 1 contract

Samples: Unsecured Revolving Credit Agreement (Storage Usa Inc)

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Interest Payment Dates; Interest and Fee Basis. Interest accrued on each a Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at the Facility Termination Date, whether by acceleration or otherwiseday of each calendar month. Interest accrued on each any LIBOR Advance shall also be payable on the last day of its applicable Interest Period, on any date on which the LIBOR Advance is prepaid (provided that nothing herein prepaid, whether by acceleration or otherwise, and at maturity, Interest accrued on each LIBOR Advance having a LIBOR Interest Period longer than three months shall authorize a prepayment which is not otherwise permitted hereunder)also be payable on the last day of each three-month interval during such LIBOR Interest Period. Interest and Commitment Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an the Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (Chicago local time) at the place of payment, unless such Advance is repaid on the date that it was made. If any payment of principal of or interest on an the Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Chateau Communities Inc)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, and at the Facility Termination Datematurity, whether by acceleration or otherwise. Interest accrued on each LIBOR Advance shall also be payable on any date on which the LIBOR Advance is prepaid (provided that nothing herein shall authorize a prepayment which is not otherwise permitted hereunder). Interest Interest, Facility Fees and Commitment Facility Letter of Credit Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (Chicago local time) at the place of payment, unless such Advance is repaid on the date that it was made. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Duke Realty Corp)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Floating Rate Advance shall be payable on each Quarterly Payment Date, commencing with the first such date to occur after the Effective Date, on any date hereofon which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the Facility Termination Dateoutstanding principal amount of any Floating Rate Advance converted into a LIBO Rate Advance on a day other than a Quarterly Payment Date shall be payable on the date of conversion. Interest accrued on each LIBO Rate Advance shall be payable on the last day of its applicable Interest Period, on any date on which the LIBO Rate Advance is prepaid, whether by acceleration or otherwise. Interest accrued on each LIBOR Advance shall also be payable on any date on which the LIBOR Advance is prepaid (provided that nothing herein shall authorize a prepayment which is not otherwise permitted hereunder), and at maturity. Interest and Commitment Fees commitment fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon 2:00 p.m. (Chicago Eastern time) at the place of payment, unless such Advance is repaid on the date that it was made. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Gaylord Entertainment Co /De)

Interest Payment Dates; Interest and Fee Basis. Interest accrued on each Advance Floating Rate Tranche shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, at maturity, whether by acceleration or otherwise, and upon any termination of the Loan in its entirety under SECTION 2.1 hereof. Interest accrued on each LIBOR Tranche shall be payable on each Payment Date, on the last day of the Interest Period applicable to such LIBOR Tranche, on any earlier date on which such LIBOR Tranche is prepaid, and at the Facility Termination Datematurity, whether by acceleration or otherwise. Interest accrued on each LIBOR Advance shall also be payable on any date on which the LIBOR Advance is prepaid (provided that nothing herein shall authorize a prepayment which is not otherwise permitted hereunder). Interest and Commitment Fees shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day an Advance is made Funding Date but not for the day of any payment on the amount paid if payment is received prior to noon (Chicago time) at the place of payment, unless such Advance is repaid on the date that it was made). If any payment of principal of or interest on an Advance Tranche shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

Appears in 1 contract

Samples: Term Loan Agreement (Developers Diversified Realty Corp)

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