Interest Rate on Overdue Amounts; Other Indemnities Sample Clauses

Interest Rate on Overdue Amounts; Other Indemnities. (a) The Borrower shall pay interest on overdue principal of any Note and, so far as may be lawful, on any other overdue amount owing pursuant to this Agreement, the Notes and the Letter Agreement, from and including the date the payment thereof was due to, but not including, the day of actual payment, at a rate per annum which shall be (i) with respect to the period ending on the fourth anniversary of the initial Borrowing Date hereunder, 2.10%, and (ii) thereafter, 1.825%, in each case over (A) the rate which appears on page 3750 (or any successor page) of the Telerate Screen at or about 11:00 a.m., London time, on the day such rate of interest is determined, for deposits in Dollars with maturities of at least six days and not exceeding six months, as the Agent may elect, as determined by the Agent upon consulting the relevant page of the Telerate Screen, (B) if such rate is not available on the relevant page of the Telerate Screen or if the Telerate Screen is unavailable, the arithmetic mean (rounded upward, if necessary, to the nearest 1/16 of 1%) of the offered quotations in effect at or about 11:00 a.m., London time, on the day such rate of interest is determined for deposits in Dollars with maturities of at least six days and not exceeding six months, as the Agent may elect, as displayed on the "LIBO" page (or any successor page as determined by the Agent) of the Reuters Monitor Money Rates Service as determined by the Agent upon consulting such "LIBO" page (or successor page) or (C) if the LIBO page (or successor page) should be used pursuant to clause (B) but does not at the time of determination display at least two offered quotations, the average (rounded upward, if necessary, to the nearest 1/16 of 1%) of the respective rates at which deposits in Dollars with maturities of at least six days and not exceeding six months, as the Agent may elect, are offered to each of the Reference Banks in the London interbank market as of approximately 11:00 a.m., London time, on the day such rate of interest is determined in an amount approximately equal to the aggregate 32 27 amount of such overdue payment due to the relevant Lenders. If for any of the reasons specified in clauses (i), (ii) or (iii) of Section 2.5 hereof an alternative interest rate would be determined pursuant thereto, then such alternative interest rate shall be determined and the Borrower shall pay to the relevant Lenders interest on such overdue principal or other amounts at a rate per ann...
Sample 1
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Interest Rate on Overdue Amounts; Other Indemnities. (a) The Borrower shall pay interest on overdue principal of the Tranche A Note or any Tranche B Note and, so far as may be lawful, on any other overdue amount owing pursuant to this Agreement, the Notes and the Letter Agreement, from and including the date the payment thereof was due to, but not including, the day of actual payment, at a rate per annum which shall be (i) with respect to the period ending on December 31, 1999, 2.1%, and (ii) thereafter, 1.85%, in each case over (A) the rate which appears on page 3750 (or any successor page) of the Telerate Screen at or about 11:00 a.m., London time, on the day such rate of interest is determined, for deposits in Dollars with maturities of at least six days and not exceeding six months, as the Tranche A Lender may elect with respect to the Tranche A Note and any other amounts payable to the Tranche A Lender and as the Agent on behalf of the Tranche B Lenders may elect with respect to the Tranche B Notes and any other amounts payable to it or to the Tranche B Lenders, in each case as determined, as appropriate, by the Tranche A Lender and the Agent on behalf of the Tranche B Lenders
Sample 1

Related to Interest Rate on Overdue Amounts; Other Indemnities

  • Payment of default interest on overdue amounts The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is:

  • Interest on Overdue Amounts (a) If an Obligor fails to pay any amount payable by it under the Finance Documents, it must immediately on demand by the Facility Agent pay interest on the overdue amount from its due date up to the date of actual payment, both before, on and after judgment.

  • Default Interest; Other Amounts Prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party that defaults in the performance of any payment obligation will, to the extent permitted by law and subject to Section 6(c), be required to pay interest (before as well as after judgment) on the overdue amount to the other party on demand in the same currency as such overdue amount, for the period from (and including) the original due date for payment to (but excluding) the date of actual payment, at the Default Rate. Such interest will be calculated on the basis of daily compounding and the actual number of days elapsed. If, prior to the occurrence or effective designation of an Early Termination Date in respect of the relevant Transaction, a party defaults in the performance of any obligation required to be settled by delivery, it will compensate the other party on demand if and to the extent provided for in the relevant Confirmation or elsewhere in this Agreement.

  • Overdue Amounts Until paid, all amounts due and payable by the Company hereunder shall be a debt secured by the Collateral and shall bear, whether before or after judgment, interest at the rate of interest for overdue principal set forth in the Transaction Documents.

  • Interest on Past Due Amounts In addition to the late charge described in Article 14 below, if any installment of Annual Basic Rent or Additional Rent is not paid promptly when due, it shall bear interest at the Default Rate; provided, however, this provision shall not relieve Tenant from any default in the making of any payment at the time and in the manner required by this Lease; and provided, further, in no event shall the Default Rate exceed the maximum rate (if any) permitted by applicable law.

  • Default Interest Rate From and after the occurrence of any Event of Default, and so long as any such Event of Default remains unremedied or uncured thereafter, the Obligations outstanding under the Agreement shall bear interest at a per annum rate of five percent (5%) above the otherwise applicable interest rate hereunder, which interest shall be payable upon demand. In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar days after the payment due date therefor, but acceptance of payment of any such charge shall not constitute a waiver of any Event of Default under the Agreement. In no event shall the interest payable under this Addendum and the Agreement at any time exceed the maximum rate permitted by law.

  • Interest on Overdue Payments Without limiting the rights of Executive at law or in equity, if the Company fails to make the Lump-Sum Payment or any Gross-Up Payment on a timely basis, the Company shall pay interest on the amount thereof at an annualized rate equal to the rate in effect, at the time such payment should have been made, under the 401(k) Plan for loans to participants in such plan.

  • INTEREST ON PAST-DUE OBLIGATIONS Except as expressly herein provided, any amount due to Lessor not paid when due shall bear interest at the maximum rate then allowable by law from the date due. Payment of such interest shall not excuse or cure any default by Lessee under this Lease, provided, however, that interest shall not be payable on late charges incurred by Lessee nor on any amounts upon which late charges are paid by Lessee.

  • Repayments of Provider Advances (a) Amounts advanced hereunder in respect of a Provider Advance shall be deposited in the Class A Cash Collateral Account and invested and withdrawn from the Class A Cash Collateral Account as set forth in Sections 3.05(c), 3.05(d), 3.05(e) and 3.05(f) of the Intercreditor Agreement. Subject to Sections 2.07 and 2.09, the Borrower agrees to pay to the Liquidity Provider, on each Regular Distribution Date, commencing on the first Regular Distribution Date after the making of a Provider Advance, interest on the principal amount of any such Provider Advance, in the amounts determined as provided in Section 3.07; provided, however, that amounts in respect of a Provider Advance withdrawn from the Class A Cash Collateral Account for the purpose of paying interest on the Class A Certificates in accordance with Section 3.05(f) of the Intercreditor Agreement (the amount of any such withdrawal being (y), in the case of a Downgrade Advance, an “Applied Downgrade Advance” and (z) in the case of a Non-Extension Advance, an “Applied Non-Extension Advance” and together with an Applied Downgrade Advance, an “Applied Provider Advance”) shall thereafter (subject to Section 2.06(b)) be treated as an Interest Advance under this Agreement for purposes of determining the Applicable Liquidity Rate for interest payable thereon; provided, further, however, that if, following the making of a Provider Advance, the Liquidity Provider delivers a Termination Notice to the Borrower pursuant to Section 6.01(a), such Provider Advance shall thereafter be treated as a Final Advance under this Agreement for purposes of determining the Applicable Liquidity Rate for interest payable thereon. Subject to Sections 2.07 and 2.09, immediately upon the withdrawal of any amounts from the Class A Cash Collateral Account on account of a reduction in the Required Amount, the Borrower shall repay to the Liquidity Provider a portion of the Provider Advances in a principal amount equal to such reduction, plus interest on the principal amount so repaid as provided in Section 3.07.

  • Interest on Amounts Paid Under Letters of Credit (i) Payment of Interest by Company. Company agrees to pay to each Issuing Lender, with respect to drawings honored under any Letters of Credit issued by it, interest on the amount paid by such Issuing Lender in respect of each such honored drawing from the date such drawing is honored to but excluding the date such amount is reimbursed by Company (including any such reimbursement out of the proceeds of Revolving Loans pursuant to subsection 3.3B) at a rate equal to (a) for the period from the date such drawing is honored to but excluding the Reimbursement Date, the rate then in effect under this Agreement with respect to Revolving Loans that are Base Rate Loans and (b) thereafter, a rate which is 2% per annum in excess of the rate of interest otherwise payable under this Agreement with respect to Revolving Loans that are Base Rate Loans. Interest payable pursuant to this subsection 3.3D(i) shall be computed on the basis of a 360-day year for the actual number of days elapsed in the period during which it accrues and shall be payable on demand or, if no demand is made, on the date on which the related drawing under a Letter of Credit is reimbursed in full.

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