Interest Rate and Payment Dates. (a) The Eurodollar Loans shall bear interest for each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such Interest Period plus the Applicable Margin. (b) Alternate Base Rate Loans shall bear interest for the period from and including the date thereof until maturity on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate. (i) If all or a portion of the principal amount of any Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this subsection 2.8 plus 2%, and (ii) if all or a portion of any interest payable on any Loan or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Alternate Base Rate Loans plus 2%, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full (as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this subsection 2.8 shall be payable from time to time on demand.
Appears in 3 contracts
Samples: Credit Agreement (Dow Jones & Co Inc), 364 Day Credit Agreement (Dow Jones & Co Inc), 364 Day Amended and Restated Credit Agreement (Dow Jones & Co Inc)
Interest Rate and Payment Dates. (a) The Eurodollar Loans shall bear interest for each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Alternate Base Rate Loans shall bear interest for the period from and including the date thereof until maturity on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate.
(i) If all or a portion of the principal amount of any Revolving Credit Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this subsection 2.8 plus 2%, and (ii) if all or a portion of any interest payable on any Loan or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Alternate Base Rate Loans plus 2%, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full (as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this subsection 2.8 shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (Dow Jones & Co Inc), Credit Agreement (Dow Jones & Co Inc)
Interest Rate and Payment Dates. (a) The Eurodollar Loans shall bear interest for each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(ba) Alternate Base Rate Loans shall bear interest for the period from and including the date thereof until maturity on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate.
(i) If all or a portion of the principal amount of any Revolving Credit Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this subsection 2.8 plus 2%, and (ii) if all or a portion of any interest payable on any Loan or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Alternate Base Rate Loans plus 2%, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full (as well after as before judgment).
(dc) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this subsection 2.8 shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (Dow Jones & Co Inc), Credit Agreement (Dow Jones & Co Inc)
Interest Rate and Payment Dates. (a) The Eurodollar Loans shall bear interest for each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Alternate Base Rate Loans shall bear interest for the period from and including the date thereof until maturity on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate.
(i) If all or a portion of the principal amount of any Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this subsection 2.8 plus 2%, and (ii) if all or a portion of any interest payable on any Loan or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Alternate Base Rate Loans plus 2%, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full (as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, ,provided that interest accruing pursuant to paragraph (c) of this subsection 2.8 shall be payable from time to time on demand.
Appears in 1 contract
Samples: 364 Day Amended and Restated Credit Agreement (Dow Jones & Co Inc)
Interest Rate and Payment Dates. (a) The Eurodollar Loans shall Prime Revolving Advances and Prime Term Advances shall, in each case, bear interest for each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal from the date made to the Eurodollar date such Advance is paid in full at the Prime Rate determined for such Interest Period plus the Applicable Margin.
(b) Alternate Base Rate Loans Eurodollar Term Advances shall bear interest for the period from and including the date thereof until maturity on the unpaid principal amount thereof from the date made to the date such Advance is paid in full at the Eurodollar Rate for the Interest Period in effect for such Advance plus the Applicable Margin.
(c) Notwithstanding the foregoing, if an Event of Default has occurred and is continuing, then, so long as such Event of Default is continuing, all principal of each Loan and each fee and other amount then due and payable by the Borrower hereunder shall bear interest, after as well as before judgment, at a rate per annum equal to (i) in the Alternate Base Ratecase of principal of any Loan, 3% plus the rate otherwise applicable to such Loan as provided in the subsection 3.1(a) or 3.1(b) or (ii) in the case of any other amount, 3% plus the Prime Rate plus the Applicable Margin. For purposes of the preceding sentence, the rate applicable pursuant to Section 3.1(a) or 3.1(b) to any overdue principal, interest or other amount payable under the Loan Documents shall be in the case of an overdue principal balance of any Eurodollar Advance, the applicable Eurodollar Rate plus the Applicable Margin until the last day of the applicable Interest Period (or the earlier termination thereof pursuant to this Agreement) and thereafter at the Prime Rate plus the Applicable Margin and in all other cases, the Prime Rate plus the Applicable Margin. All such interest shall be payable on demand.
(id) If At no time shall the interest rate payable on any Loan, together with the Fees and all or a portion of other amounts payable under the principal amount of any Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal Documents to the rate that would otherwise be applicable thereto pursuant Lender, to the foregoing extent the same are construed to constitute interest, exceed the Highest Lawful Rate. If for any period during the term of this Agreement, any amount paid to the Lender under the Loan Documents, to the extent the same shall (but for the provisions of this subsection 2.8 plus 2%Section 3.1(d)) constitute or be deemed to constitute interest, would exceed the maximum amount of interest permitted by the Highest Lawful Rate during such period (such amount being hereinafter referred to as an "UNQUALIFIED AMOUNT"), then (i) such Unqualified Amount shall be applied or shall be deemed to have been applied as a prepayment of the Loans, and (ii) if in any subsequent period during the term of this Agreement, all amounts payable under the Loan Documents to the Lender in respect of such period which constitute or shall be deemed to constitute interest shall be less than the maximum amount of interest permitted by the Highest Lawful Rate during such period, then the Borrower shall pay to the Lender in respect of such period an amount (each a portion of any interest payable on any Loan or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum "COMPENSATORY INTEREST PAYMENT") equal to the rate then applicable lesser of (x) a sum which, when added to Alternate Base all such amounts, would equal the maximum amount of interest permitted by the Highest Lawful Rate Loans plus 2%during such period, in each case, with respect to clauses (i) and (iiy) above, from an amount equal to the date of such non-payment until such amount is paid Unqualified Amount less all other Compensatory Interest Payments made in full (as well after as before judgment)respect thereof.
(de) Interest Accrued interest on each Loan shall be payable in arrears on each Interest Payment DateDate for such Loan, provided that (i) interest accruing accrued pursuant to paragraph (csubsection 3.1(c) of this subsection 2.8 shall be payable from time to time on demand, (ii) in the event of any repayment or prepayment of any Eurodollar Loan, accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion.
(f) Interest on all Advances shall be calculated on the basis of a 360-day year, in each case, for the actual number of days elapsed. Any change in the interest rate on the Loans resulting from a change in the Prime Rate or reserve requirements shall become effective as of the opening of business on the day on which such change shall become effective. Each determination of the Prime Rate, or a Eurodollar Rate by the Lender pursuant to this Agreement shall be conclusive and binding on all parties hereto absent manifest error. The Borrower acknowledges that to the extent interest payable on Prime Advances is based on the Prime Rate, such rate is only one of the bases for computing interest on loans made by the Lender, and by basing interest payable on Prime Advances on the Prime Rate, the Lender has not committed to charge, and the Borrower has not in any way bargained for, interest based on a lower or the lowest rate at which the Lender may now or in the future make loans to other borrowers.
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Interest Rate and Payment Dates. (a) The Eurodollar All outstanding Loans shall bear interest for each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal continue to the Eurodollar be Base Rate determined for such Interest Period plus the Applicable MarginLoans.
(b) Alternate All Base Rate Loans shall bear interest at the Reference Lender's Base Rate plus 2% per annum for the period from the Second Forbearance Effective Date to and including the Maturity Date or such earlier date thereof until maturity on which the unpaid principal amount thereof at a rate per annum equal Loans become due and payable under SECTION 8(E) through (L) of the Credit Agreement or SECTION 7 of the Second Forbearance Agreement. The Base Rate is subject to daily adjustment in accordance with the Alternate definition of "Base Rate."
(ic) If all or a portion of the principal amount of any Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and all other amounts due and owing to the Lenders by the Borrower (whether or not overdue) shall bear interest at a rate per annum which is equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this subsection 2.8 plus SECTION 2.9 PLUS 2%, and (ii) if all or a portion of any interest payable on any Loan or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Alternate Base Rate Loans plus 2%, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full (as well both before and after as before the entry of any judgment).
(d) Interest on all of the Base Rate Loans shall be payable in arrears on the first day of each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this subsection 2.8 shall be payable from time to time on demandmonth."
5.1.3 AMENDMENT OF SECTION 2.12.
Appears in 1 contract
Samples: Forbearance and Amendment Agreement (Physician Computer Network Inc /Nj)
Interest Rate and Payment Dates. (a) The Eurodollar Loans shall bear interest for each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Alternate Base Rate Loans shall bear interest for the period from and including the date thereof until maturity on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate.
(i) If all or a portion of the principal amount of any Revolving Credit Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to (x) in the case of the Revolving Credit Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this subsection 2.8 plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Alternate Base Rate Loans plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Alternate Base Rate Loans plus 2%, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full (as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this subsection 2.8 shall be payable from time to time on demand.
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