Interest Rates and Fees. (a) The Agent does not warrant or accept responsibility for, and shall not have any liability with respect to (i) the continuation of, administration of, submission of, calculation of or any other matter related to Base Rate, the Term SOFR Reference Rate or Adjusted Term SOFR Term SOFR, or any component definition thereof or rates referred to in the definition thereof, or any alternative, successor or replacement rate thereto (including any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, Term SOFR or any other Benchmark prior to its discontinuance or unavailability, or (ii) the effect, implementation or composition of any Conforming Changes. The Agent and its affiliates or other related entities may engage in transactions that affect the calculation of Base Rate, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR or any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Agent may select information sources or services in its reasonable discretion to ascertain Base Rate, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR or any other Benchmark, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service. (a) Interest rates on Base Rate Advances and LIBOR SOFR Advances and the rates for calculation of L/C Fees shall , subject to Section 8.1(d), be determined on a Pricing Date in accordance with the table set forth below based on the Total Net Debt to EBITDA Ratio based on the Compliance Certificate delivered in respect of the most recently completed fiscal quarter, as applicable, and the applicable interest rate established on a Pricing Date shall remain in effect until the next Pricing Date. If the Borrower has not delivered its financial statements and Compliance Certificate by the date such financial statements and Compliance Certificate are required to be delivered under Section 8.3 hereof, until such financial statements and Compliance Certificate are delivered, the applicable interest rate/fee shall, on the first day after the latest date by which the Borrower was so required to provide such financial statements and Compliance Certificate, be set at Level V. Each determination of the applicable interest rate/fee made by the Agent in accordance with the foregoing shall be conclusive and binding on the Borrower and the Lenders if reasonably determined. Level Total Net Debt to EBITDA Ratio L/C Fee (Financial L/C) L/C Fee (Performance L/C) Base Rate Advances LIBORSOFR Margin and Other Advances Xxxxxxx Xxx All figures in the table represent per cent per annum. Each of the amounts specified above, other than the standby fees, shall be increased by 2% per annum if a Default has occurred and is continuing. If a Default is disclosed by a Compliance Certificate, any increase shall be applied beginning as of the end of the fiscal period to which the Compliance Certificate relates. (b) Interest shall accrue and be payable on Base Rate Advances at the Base Rate, plus the relevant figure shown under "Base Rate Advances" in the table in Section 2.6(a). Interest shall accrue and be payable on LIBOR Advances at the LIBO Rate plus the relevant figure shown under "LIBOR and Other Advances" in that table2.6(b). The rate for calculation of L/C Fees for Financial Letters of Credit shall be the relevant figure shown under "L/C Fee (Financial L/C)" in that table. The rate for calculation of L/C Fees for Performance Letters of Credit shall be the relevant figure shown under "L/C Fee (Performance L/C)" in that table.
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Interest Rates and Fees. (a) The Agent does not warrant or accept responsibility for, and shall not have any liability with respect to (i) the continuation of, administration of, submission of, calculation of or any other matter related to Prime Rate, Base Rate, the Term SOFR Reference Rate or Rate, Adjusted Term SOFR Term SOFR, XXXXX, Daily Compounded XXXXX or Term XXXXX, or any component definition thereof or rates referred to in the definition thereof, or any alternative, successor or replacement rate thereto (including any Benchmark Replacement or Canadian Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement or Canadian Benchmark Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, Prime Rate, Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, Term SOFR SOFR, XXXXX, Daily Compounded XXXXX, Term XXXXX or any other Benchmark or Canadian Benchmark prior to its discontinuance or unavailability, or (ii) the effect, implementation or composition of any Benchmark Replacement Conforming Changes or Canadian Benchmark Conforming Changes. The Agent and its affiliates or other related entities may engage in transactions that affect the calculation of Prime Rate, Base Rate, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR SOFR, XXXXX, Daily Compounded XXXXX, Term XXXXX or any alternative, successor or replacement rate (including any Benchmark Replacement or Canadian Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Agent may select information sources or services in its reasonable discretion to ascertain Prime Rate, Base Rate, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR SOFR, XXXXX, Daily Compounded XXXXX, Term XXXXX or any other Benchmark or Canadian Benchmark, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.
(ab) Interest rates on Prime Rate Advances, Base Rate Advances, XXXXX Advances and LIBOR SOFR Advances and the rates for calculation of L/C Fees shall shall, subject to Section 8.1(d), be determined on a Pricing Date in accordance with the table set forth below based on the Total Net Debt to EBITDA Ratio based on the Compliance Certificate delivered in respect of the most recently completed fiscal quarter, as applicable, and the applicable interest rate established on a Pricing Date shall remain in effect until the next Pricing Date. If the Borrower has not delivered its financial statements and Compliance Certificate by the date such financial statements and Compliance Certificate are required to be delivered under Section 8.3 hereof, until such financial statements and Compliance Certificate are delivered, the applicable interest rate/fee shall, on the first day after the latest date by which the Borrower was so required to provide such financial statements and Compliance Certificate, be set at Level V. Each determination of the applicable interest rate/fee made by the Agent in accordance with the foregoing shall be conclusive and binding on the Borrower and the Lenders if reasonably determined. Level Total Net Debt to EBITDA Ratio L/C Fee (Financial L/C) L/C Fee (Performance L/C) Base Rate Advances LIBORSOFR Margin and Other Advances Xxxxxxx Xxx All figures in the table represent per cent per annum. Each of the amounts specified above, other than the standby fees, shall be increased by 2% per annum if a Default has occurred and is continuing. If a Default is disclosed by a Compliance Certificate, any increase shall be applied beginning as of the end of the fiscal period to which the Compliance Certificate relates.
(bc) Interest shall accrue and be payable on Prime Rate Advances and Base Rate Advances at the Prime Rate or the Base Rate, respectively, plus the relevant figure shown under "Prime Rate and Base Rate Advances" in the table in Section 2.6(a). Interest shall accrue and be payable on LIBOR Advances at the LIBO Rate plus the relevant figure shown under "LIBOR and Other Advances" in that table2.6(b2.6(b). The rate for calculation of L/C Fees for Financial financial Letters of Credit shall be the relevant figure shown under "L/C Fee (Financial financial L/C)" in that table. The rate for calculation of L/C Fees for Performance performance Letters of Credit shall be the relevant figure shown under "L/C Fee (Performance performance L/C)" in that table.
(d) The Borrower shall pay interest on each XXXXX Advance made or maintained by a Lender and such Advance shall bear interest during each Interest Period it is outstanding (computed on the basis of a year of 365) on the unpaid principal amount thereof from the date such XXXXX Advance is advanced or continued, or created by conversion from a Prime Rate Advance, until maturity (whether by acceleration or otherwise) at a rate per annum equal to the Adjusted Term XXXXX applicable to such Interest Period plus the relevant figure shown under "XXXX Xxxxxx, XXXXX and Other Advances" in the table in Section 2.6(b), payable by the Borrower on each Interest Payment Date and at maturity (whether by acceleration or otherwise).
(e) The Borrower shall pay interest on each SOFR Advance made or maintained by a Lender and such Advance shall bear interest during each Interest Period it is outstanding (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such SOFR Advance is advanced or continued, or created by conversion from a Base Rate Advance, until maturity (whether by acceleration or otherwise) at a rate per annum equal to the sum of the SOFR Margin plus the Adjusted Term SOFR applicable to such Interest Period, payable by the Borrower on each Interest Payment Date and at maturity (whether by acceleration or otherwise).
(f) The Borrower shall pay interest and fees at the applicable rate specified in Section 2.6(b) to the Agent at the Branch of Account on Advances outstanding from time to time. The Borrower shall pay interest on Prime Rate Advance, Base Rate Advances, XXXXX Advances and SOFR Advances on each Interest Payment Date. The Borrower shall pay L/C Fees quarterly in arrears on the first Banking Day following each of the Borrower's fiscal quarters.
(g) The Borrower shall pay a standby fee on the daily unadvanced portions of the Credit (which for clarity shall, for the purposes of this Section 2.6(g), be equal to the Maximum Available Amount less any amounts outstanding hereunder) at the rate specified under "Standby Fee" in the table in Section 2.6(b). The standby fee shall be calculated daily beginning on the Effective Date and shall be payable quarterly in arrears on the first Banking Day following each of the Borrower's fiscal quarters. On final payment of the Obligations, the Borrower shall also pay any accrued but unpaid standby fees.
(h) The Agent shall distribute interest and fees for the Credit to the Lenders based on their respective Applicable Percentages.
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Interest Rates and Fees. (a) The Agent does not warrant or accept responsibility for, and shall not have any liability with respect to (i) the continuation of, administration of, submission of, calculation of or any other matter related to Prime Rate, Base Rate, the Term SOFR Reference Rate or Rate, Adjusted Term SOFR Term SOFR, XXXXX, Daily Compounded XXXXX or Term XXXXX, or any component definition thereof or rates referred to in the definition thereof, or any alternative, successor or replacement rate thereto (including any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, Prime Rate, Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, Term SOFR SOFR, XXXXX, Daily Compounded XXXXX, Term XXXXX or any other Benchmark prior to its discontinuance or unavailability, or (ii) the effect, implementation or composition of any Conforming Changes. The Agent and its affiliates or other related entities may engage in transactions that affect the calculation of Prime Rate, Base Rate, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR SOFR, XXXXX, Daily Compounded XXXXX, Term XXXXX or any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Agent may select information sources or services in its reasonable discretion to ascertain Prime Rate, Base Rate, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR SOFR, XXXXX, Daily Compounded XXXXX, Term XXXXX or any other Benchmark, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.
(ab) Interest (a)Interest rates on Prime Rate Advances, Base Rate Advances Advances, B/A Equivalent Loans and LIBOR SOFR Advances and the rates for calculation of B/A Fees and L/C Fees shall , subject to Section 8.1(d), be determined on a Pricing Date in accordance with the table set forth below based on the Total Net Debt to EBITDA Ratio based on the Compliance Certificate delivered in respect of the most recently completed fiscal quarter, as applicable, and the applicable interest rate established on a Pricing Date shall remain in effect until the next Pricing Date. If the Borrower has not delivered its financial statements and Compliance Certificate by the date such financial statements and Compliance Certificate are required to be delivered under Section 8.3 hereof, until such financial statements and Compliance Certificate are delivered, the applicable interest rate/fee shall, on the first day after the latest date by which the Borrower was so required to provide such financial statements and Compliance Certificate, be set at Level V. Each determination of the applicable interest rate/fee made by the Agent in accordance with the foregoing shall be conclusive and binding on the Borrower and the Lenders if reasonably determined. Level Total Net Debt to EBITDA Ratio L/C Fee (Financial L/C) L/C Fee (Performance L/C) Prime Rate and Base Rate Advances LIBORSOFR Margin LIBOR/XXXXXX Xxxxxx/BA and Other Advances Xxxxxxx Xxx Standby Fee All figures in the table represent per cent per annum. Each of the amounts specified above, other than the standby fees, shall be increased by 2% per annum if a Default has occurred and is continuing. If a Default is disclosed by a Compliance Certificate, any increase shall be applied beginning as of the end of the fiscal period to which the Compliance Certificate relates.
(b) Interest shall accrue and be payable on Base Rate Advances at the Base Rate, plus the relevant figure shown under "Base Rate Advances" in the table in Section 2.6(a). Interest shall accrue and be payable on LIBOR Advances at the LIBO Rate plus the relevant figure shown under "LIBOR and Other Advances" in that table2.6(b). The rate for calculation of L/C Fees for Financial Letters of Credit shall be the relevant figure shown under "L/C Fee (Financial L/C)" in that table. The rate for calculation of L/C Fees for Performance Letters of Credit shall be the relevant figure shown under "L/C Fee (Performance L/C)" in that table.
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Interest Rates and Fees. (a) The Agent does not warrant or accept responsibility for, and shall not have any liability with respect to (i) the continuation of, administration of, submission of, calculation of or any other matter related to Base Rate, the Term SOFR Reference Rate or Adjusted Term SOFR Term SOFR, or any component definition thereof or rates referred to in the definition thereof, or any alternative, successor or replacement rate thereto (including any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, Term SOFR or any other Benchmark prior to its discontinuance or unavailability, or (ii) the effect, implementation or composition of any Conforming Changes. The Agent and its affiliates or other related entities may engage in transactions that affect the calculation of Base Rate, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR or any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Agent may select information sources or services in its reasonable discretion to ascertain Base Rate, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR or any other Benchmark, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.
(ab) Interest rates on Base Rate Advances and LIBOR SOFR Advances and the rates for calculation of L/C Fees shall shall, subject to Section 8.1(d), be determined on a Pricing Date in accordance with the table set forth below based on the Total Net Debt to EBITDA Ratio based on the Compliance Certificate delivered in respect of the most recently completed fiscal quarter, as applicable, and the applicable interest rate established on a Pricing Date shall remain in effect until the next Pricing Date. If the Borrower has not delivered its financial statements and Compliance Certificate by the date such financial statements and Compliance Certificate are required to be delivered under Section 8.3 hereof, until such financial statements and Compliance Certificate are delivered, the applicable interest rate/fee shall, on the first day after the latest date by which the Borrower was so required to provide such financial statements and Compliance Certificate, be set at Level V. Each determination of the applicable interest rate/fee made by the Agent in accordance with the foregoing shall be conclusive and binding on the Borrower and the Lenders if reasonably determined. Level Total Net Debt to EBITDA Ratio L/C Fee (Financial L/C) L/C Fee (Performance L/C) Base Rate Advances LIBORSOFR Margin and Other Advances Xxxxxxx Xxx All figures in the table represent per cent per annum. Each of the amounts specified above, other than the standby fees, shall be increased by 2% per annum if a Default has occurred and is continuing. If a Default is disclosed by a Compliance Certificate, any increase shall be applied beginning as of the end of the fiscal period to which the Compliance Certificate relates.
(bc) Interest shall accrue and be payable on Base Rate Advances at the Base Rate, plus the relevant figure shown under "Base Rate Advances" in the table in Section 2.6(a). Interest shall accrue and be payable on LIBOR Advances at the LIBO Rate plus the relevant figure shown under "LIBOR and Other Advances" in that table2.6(b2.6(b). The rate for calculation of L/C Fees for Financial Letters of Credit shall be the relevant figure shown under "L/C Fee (Financial L/C)" in that table. The rate for calculation of L/C Fees for Performance Letters of Credit shall be the relevant figure shown under "L/C Fee (Performance L/C)" in that table.
(d) The Borrower shall pay interest on each SOFR Advance made or maintained by a Lender and such Advance shall bear interest during each Interest Period it is outstanding (computed on the basis of a year of three-hundred and sixty (360) days and actual days elapsed) on the unpaid principal amount thereof from the date such SOFR Advance is advanced or continued, or created by conversion from a Base Rate Advance, until maturity (whether by acceleration or otherwise) at a rate per annum equal to the sum of the SOFR Margin plus the Adjusted Term SOFR applicable to such Interest Period, payable by the Borrower on each Interest Payment Date and at maturity (whether by acceleration or otherwise).
(e) The Borrower shall pay interest and fees at the applicable rate specified in Section 2.6(b) to the Agent at the Branch of Account on Advances outstanding from time to time. The Borrower shall pay interest on Advance Base Rate Advances and SOFR Advances on each Interest Payment Date. The Borrower shall pay L/C Fees quarterly in arrears on the first Banking Day following each of Hudbay's fiscal quarters.
(f) The Borrower shall pay a standby fee on the daily unadvanced portions of the Credit (which for clarity shall, for the purposes of this Section 2.6(f), be equal to the Maximum Available Amount less any amounts outstanding hereunder) at the rate specified under "Standby Fee" in the table in Section 2.6(b). The standby fee shall be calculated daily beginning on the Effective Date and shall be payable quarterly in arrears on the first Banking Day following each of Hudbay's fiscal quarters. On final payment of the Obligations, the Borrower shall also pay any accrued but unpaid standby fees.
(g) The Agent shall distribute interest and fees for the Credit to the Lenders based on their respective Applicable Percentages.
Appears in 1 contract
