Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day. (c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause (c) of this Section 4.1 shall be payable from time to time on demand. (e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 5 contracts
Samples: Incremental Commitment Amendment (Warner Music Group Corp.), Credit Agreement (Warner Music Group Corp.), Incremental Commitment Amendment (Warner Music Group Corp.)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Revolving Loan, (ii) any interest payable thereon or (iii) any letter of credit commission, letter of credit 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection 4.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section subsection 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause paragraph (b) of this Section subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 3 contracts
Samples: Abl Credit Agreement (Us Foods, Inc.), Revolving Credit Agreement (Great North Imports, LLC), Abl Credit Agreement (Great North Imports, LLC)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion Upon notice by the Administrative Agent, given at the request of (ithe Required Lenders, following the occurrence and during the continuation of an Event of Default pursuant to Subsection 9.1(a) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwisef), such the Borrower will pay interest on overdue amount shall bear interest amounts hereunder at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section Subsection 4.1, plus 2.00%, % and (y) in the case of other amounts (including overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts), the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment notice until such amount is overdue amounts are paid in full (as well after as before judgmentany judgment relating thereto).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 3 contracts
Samples: Incremental Term Loan Agreement (Floor & Decor Holdings, Inc.), Credit Agreement (Floor & Decor Holdings, Inc.), Credit Agreement (FDO Holdings, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Term SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate Term SOFR determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon thereon, or (iii) any 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 which is (xw) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection 3.1 plus 2.00%, (yx) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 subsection 3.1 plus 2.00% (other than clause (xw) above) plus 2.00% and (zy) in the case of other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection 3.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection 3.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 3 contracts
Samples: Credit Agreement (US Foods Holding Corp.), Credit Agreement (US Foods Holding Corp.), Credit Agreement (US Foods Holding Corp.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section Subsection 4.1, plus 2.00%, % and (y) in the case of other amounts (including overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts), the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgment); provided that (1) no amount shall be payable pursuant to this Subsection 4.1(c) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) no amounts shall accrue pursuant to this Subsection 4.1(c) on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender.
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 3 contracts
Samples: Credit Agreement (Univar Inc.), Credit Agreement (Univar Inc.), Credit Agreement (Univar Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate Term SOFR determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause (cd) of this Section 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 3 contracts
Samples: Incremental Commitment Amendment (Warner Music Group Corp.), Credit Agreement (Warner Music Group Corp.), Incremental Commitment Amendment (Warner Music Group Corp.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section Subsection 4.1, plus 2.00%, % and (y) in the case of other amounts (including overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts), the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgmentany judgment relating thereto).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 3 contracts
Samples: Credit Agreement (SiteOne Landscape Supply, Inc.), Credit Agreement (SiteOne Landscape Supply, Inc.), Credit Agreement (SiteOne Landscape Supply, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any letter of credit commission, letter of credit 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 which is (xw) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1subsection plus 2.00%, (x) in the case of any Reimbursement Obligation, at the rate applicable under the first sentence of subsection 2.6(h) without giving effect to the proviso thereto plus 2.00%, (y) in the case of overdue interestinterest or LC Fees, the rate that would be otherwise applicable to principal of the related Term Loan or Reimbursement Obligation pursuant to the relevant foregoing provisions of this Section 4.1 subsection 3.1 (other than clause (w) and (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection 3.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Term Loan Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 3 contracts
Samples: Credit Agreement (Servicemaster Co), Credit Agreement (Servicemaster Co), Credit Agreement (Servicemaster Co)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any letter of credit commission, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection 3.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 subsection 3.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection 3.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment); provided that (1) no amount shall be payable pursuant to this subsection 3.1(c) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) no amounts shall accrue pursuant to this subsection 3.1(c) on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender.
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 3 contracts
Samples: Credit Agreement (Frontdoor, Inc.), Credit Agreement (Frontdoor, Inc.), Credit Agreement (Servicemaster Global Holdings Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of of, fees, commissions or other amounts, the rate described in clause paragraph (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 3 contracts
Samples: Credit Agreement (Nci Building Systems Inc), Investment Agreement (Nci Building Systems Inc), Credit Agreement (Nci Building Systems Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon thereon, or (iii) any 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 which is (xw) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection 3.1 plus 2.00%, (yx) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 subsection 3.1 plus 2.00% (other than clause (xw) above) plus 2.00% and (zy) in the case of other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection 3.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection 3.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 3 contracts
Samples: Term Loan Credit Agreement (US Foods Holding Corp.), Term Loan Credit Agreement (US Foods Holding Corp.), Credit Agreement (US Foods Holding Corp.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day. Each EURIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the EURIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section Subsection 4.1, plus 2.00%, % and (y) in the case of other amounts (including overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts), the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgment); provided that (1) no amount shall be payable pursuant to this Subsection 4.1(c) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) no amounts shall accrue pursuant to this Subsection 4.1(c) on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender.
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 3 contracts
Samples: Credit Agreement (Univar Solutions Inc.), Credit Agreement (Univar Solutions Inc.), Credit Agreement (Univar Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Subject to the provisions of Section 2.10, each Base Rate Loan shall bear interest for each day during each Interest Period with respect thereto (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be) at a rate per annum equal to the Adjusted LIBOR Base Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal Subject to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion provisions of (i) the principal amount of any Term LoanSection 2.10, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount each LIBOR Loan shall bear interest at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days, provided that, for Loans made in an Optional Currency for which a 365-day basis is the only market practice available to the Administrative Agent, such rate shall be calculated on the basis of the actual number of days elapsed over a year of 365 days) equal to the LIBOR Rate for the Interest Period in effect for such LIBOR Loan plus the Applicable Margin.
(xc) in Subject to the case provisions of overdue principalSection 2.10, interest on each Swing Line Loan shall be payable at the rate that would otherwise be applicable thereto pursuant to (computed on the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal basis of the related Term actual number of days elapsed over a year of 360 days) provided in Section 2.1(c); provided, that if a Swing Line Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing bears interest at the Alternate Base Rate plus 2.00%Rate, interest shall be computed in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgment)accordance with subsection 2.9(a) above.
(d) Interest on each Loan shall be payable in arrears on each Interest Payment DateDate applicable to such Loan; provided that, provided that (i) interest accruing on overdue amounts pursuant to clause (c) of this Section 4.1 2.10 shall be payable from time on demand as provided in such Section and (ii) with respect to time any Swing Line Loan made under the Cash Management Agreements, interest on demandsuch Swing Line Loans shall be payable as provided in subsection 2.1(c)(vii). The LIBOR Rate and the Base Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.
(e) It is Each determination of an interest rate by the intention Administrative Agent pursuant to any provision of this Agreement (including this Section 2.9 and Section 2.10) shall be conclusive and binding on the Borrowers and the Lenders in the absence of manifest error. At the request of the parties hereto Borrowers, the Administrative Agent shall deliver to comply strictly the Borrowers a statement showing the quotations used by it in determining any interest rate pursuant to subsections 2.9(a) and (b).
(f) Subject to the provisions of this Agreement, the Borrowers may select different interest rates and different Interest Periods to apply simultaneously to Revolver Loans comprising different Tranches and may convert to or renew one or more interest rates with applicable usury laws; accordinglyrespect to all or any portion of Revolver Loans comprising any Tranche, it is stipulated and agreed provided, that there shall not be at any one time outstanding more than six (6) Tranches in the aggregate (excluding Swing Line Loans and with Base Rate Loans being considered, to the extent any such Loans are outstanding, one Tranche).
(g) If at any time the designated rate applicable to any Loan made by any Lender exceeds such Lender’s highest lawful rate, the rate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with on such Lender’s Loan shall be limited to such Lender’s highest lawful rate. Interest on the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum principal amount of interest allowed each Loan made in an Optional Currency shall be paid by applicable usury lawsthe Borrowers in such Optional Currency.
Appears in 2 contracts
Samples: Credit Agreement (West Pharmaceutical Services Inc), Credit Agreement (West Pharmaceutical Services Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR LIBO Rate determined for such Interest Period (including the first day but excluding the last day of each such period) plus the Applicable Margin in effect Margin, computed on the basis of a 360-day year for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to actual days elapsed. During the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If occurrence and continuation of an Event of Default, if all or a portion of (ia) the principal amount of any Term Loan, (iib) any interest payable thereon thereon, or (iiic) any 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 to the extent permitted by applicable law at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant equal to the relevant foregoing provisions of this Section 4.1, LIBO Rate for the interest periods determined by the Administrative Agent in its reasonable discretion plus 2.00%, (yi) in the case of overdue interest, the rate that would be otherwise applicable with respect to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (xa) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause or (b) of this Section 4.1 above, the relevant Applicable Margin, and with respect to clause (c), the Applicable Margin for ABR Tranche A Loans accruing interest at the Alternate Base Rate plus 2.00%(ii) 2% per annum, in each case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) . Interest shall be payable in arrears on the last day of each Interest Payment DatePeriod, provided that (a) accrued interest shall be payable upon the prepayment of any Loans as provided in Section 2.05 and (b) interest accruing pursuant to clause (c) of this Section 4.1 on overdue amounts shall be payable from time to time on demand.
(e) It is . The Administrative Agent shall as soon as practicable notify the intention Borrower and the Lenders in writing of each determination of a LIBO Rate and the parties hereto length of each Interest Period. Each determination of an interest rate by the Administrative Agent pursuant to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate any provision of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever constitute prima facie evidence thereof in the maximum amount absence of interest allowed by applicable usury lawsmanifest error.
Appears in 2 contracts
Samples: Loan Agreement (Telefonos De Mexico S a De C V), Loan Agreement (Telefonos De Mexico S a De C V)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.. 1004254246v19
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause (c) of this Section 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 2 contracts
Samples: Incremental Commitment Amendment (Warner Music Group Corp.), Incremental Commitment Amendment (Warner Music Group Corp.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section Subsection 4.1, plus 2.00%, % and (y) in the case of other amounts (including overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts), the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demanddemand exercised in accordance with Subsection 9.2.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 2 contracts
Samples: First Lien Credit Agreement (Atkore International Group Inc.), First Lien Credit Agreement (Atkore International Group Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Loan shall bear interest for each day that on which it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 for each day after the due date until such amount is paid in full at a rate per annum which is equal to (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, 2% per annum or (y) in the case of any such overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (fee or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (b) of this Section 4.1 for ABR subsection plus 2% per annum. If any Event of Default described in subsections 9(c) (with respect to subsection 8.1 only), (f), (h) or (j) shall occur and be continuing, and the Majority Lenders shall give notice to the Borrower that this sentence shall apply, then, until such Event of Default shall be cured or waived or such notice shall be withdrawn, the outstanding principal amount of all Loans accruing shall bear interest at 2% per annum above the Alternate Base Rate plus 2.00%, in each case from rate that would otherwise be applicable thereto pursuant to the date foregoing provisions of such nonpayment until such amount is paid in full this subsection 4.1 (as well after as before judgmentother than the first sentence of this paragraph (c)).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 2 contracts
Samples: Credit Agreement (Nbty Inc), Revolving Credit Agreement (Nbty Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan The Loans outstanding hereunder from time to time shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to either (i) the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin Percentage or (ii) the ABR, as selected by the Borrower in effect for accordance with the provisions hereof; provided, however, (A) upon delivery by the Administrative Agent of the notice described in Section 2.9(c), the Loans of each of the Lenders shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 2.9(c), (B) upon the delivery by a Lender of the notice described in Section 2.11(d), the Loans of such dayLender shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 2.11(d) and (C) in such other circumstances as expressly provided herein, the Loans shall bear interest at the ABR.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is the lesser of (x) in the case then current rate of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, interest respecting such payment plus 2.00%, 2% and (y) in the case of overdue interest, the highest interest rate that would be otherwise permitted by applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%law, in each case from the date of such nonpayment non-payment until such amount is paid in full (as well whether after as or before judgment).
(dc) Interest shall be payable in arrears on each the applicable Scheduled Interest Payment DateDate (but for any Loan having an Interest Period of six (6) months or longer, interest shall be payable in arrears on each applicable three (3) month anniversary date of the commencement of such Loan), provided that (i) -------- interest accruing pursuant to clause paragraph (cb) of this Section 4.1 2.8 shall be payable from time to time on demand.
demand and (eii) It is the intention each prepayment of the parties hereto Loans shall be accompanied by accrued interest to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate date of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with such prepayment on the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsprepaid.
Appears in 2 contracts
Samples: Credit Agreement (Capital One Financial Corp), Credit Agreement (Capital One Financial Corp)
Interest Rates and Payment Dates. (a) The Loans comprising each Eurodollar Borrowing shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (i) in the case of each Eurodollar Revolving Credit Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin and (ii) in the case of each Eurodollar Competitive Bid Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Margin offered by the Bank making such Loan and accepted by the Company pursuant to subsection 2.3.
(b) Each Eurodollar Base Rate Loan shall bear interest for each day during which such Base Rate Loan is outstanding at a rate per annum equal to the Base Rate.
(c) Each Fixed Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for fixed rate of interest offered by the Bank making such day plus Loan and accepted by the Applicable Margin in effect for such dayCompany pursuant to subsection 2.3.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(cd) If all or a portion of (i) the principal amount of any Term Loan, Loan or (ii) any interest payable thereon thereon, any fee or (iii) any other amount payable hereunder pursuant to the terms of this Agreement (other than attorneys' fees incurred in connection with the enforcement of the terms hereof) 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, 2% or (y) in the case of any overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (fee or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate subsection plus 2.002%, in each case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(de) Interest on each Loan shall be payable in arrears on each Interest Payment DateDate applicable to such Loan, the Maturity Date and upon any prepayment of such Loan, provided that interest accruing pursuant to clause paragraph (cd) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 2 contracts
Samples: 364 Day Credit Agreement (Cit Group Inc), 364 Day Credit Agreement (Cit Group Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such dayday (or at such other lower rate per annum as agreed by the Borrower and all of the Lenders).
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such dayday (or at such other lower rate per annum as agreed by the Borrower and all of the Lenders).
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection 3.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 subsection 3.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection 3.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment); provided that (1) no amount shall be payable pursuant to this subsection 3.1(c) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) no amounts shall accrue pursuant to this subsection 3.1(c) on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender.
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 2 contracts
Samples: Credit Agreement (Servicemaster Global Holdings Inc), Credit Agreement (Servicemaster Global Holdings Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Loan Loans shall bear interest for each day that it is outstanding the period from and including the date thereof until maturity thereof on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(c) If all or a portion of (i) the principal amount of any Term Loan, of the Loans or (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall shall, without limiting the rights of the Lenders under Section 14, bear interest at a rate per annum which is (x) in the case of overdue principal, 2% above the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1subsection (provided that for all purposes of determining the Applicable Margin, plus 2.00%, the Applicable Level shall be deemed to be Level 1) or (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.002% and (z) in the case of other amounts, above the rate described in clause paragraph (b) of this Section 4.1 subsection for ABR Revolving Credit Loans accruing interest at (provided that for purposes of this paragraph (c), the Alternate Base Rate plus 2.00%Applicable Level shall be deemed to be Level 1), in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is demand by the intention Administrative Agent made at the request of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsRequired Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Citadel Broadcasting Corp), Credit Agreement (Community Health Systems Inc/)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon thereon, or (iii) any 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 which is (xw) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection 3.1 plus 2.00%, (yx) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 subsection 3.1 plus 2.00% (other than clause (xw) above) plus 2.00% and (zy) in the case of other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection 3.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection 3.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Term Loan Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 2 contracts
Samples: Credit Agreement (Great North Imports, LLC), Term Loan Credit Agreement (Great North Imports, LLC)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon thereon, or (iii) any 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 which is (xw) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection 3.1 plus 2.00%, (yx) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 subsection 3.1 plus 2.00% (other than clause (xw) above) plus 2.00% and (zy) in the case of other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection 3.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection 3.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 2 contracts
Samples: Credit Agreement (Trans-Porte, Inc.), Credit Agreement (Great North Imports, LLC)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Fixed Rate Loan shall bear interest for each day that it is outstanding at a rate per annum equal to a fixed rate of interest agreed to by the Alternate Base Borrower and the Lender at the time of the making of or conversion to such Fixed Rate in effect for such day plus the Applicable Margin in effect for such dayLoan.
(c) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) or (ii) notice given by the Lender to the Borrower of any other Event of Default (following the occurrence and during the continuance of such Event of Default), all Loans outstanding to the Borrower shall bear interest at a rate per annum which is the rate that would otherwise be applicable thereto pursuant to the provisions of Section 2.7(a) or (b), as applicable, plus 2% per annum. If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any Commitment Fee or other amount payable hereunder or under any other Loan Document 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 which is (x) in the case of overdue principalprincipal to the last day of any Interest Period then applicable thereto, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, 2% or (y) in the case of overdue interestotherwise, the rate that would be otherwise applicable of interest in effect for such day as publicly announced from time to principal of time by the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) Lender in New York City as its “prime rate” plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.002%, in each case case, from the date of such nonpayment non-payment until such amount is paid in full (as well after as before judgment).
(d) Interest on Loans shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause the second sentence of paragraph (c) of this Section 4.1 2.7 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 2 contracts
Samples: Credit Agreement (Kayne Anderson MLP Investment CO), Credit Agreement (Kayne Anderson MLP Investment CO)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsections 3.1(a) and (b) plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 subsections 3.1(a) and (other than clause (x) aboveb) plus 2.00% and (z) in the case of fees, commissions or other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 2 contracts
Samples: Second Lien Term Loan Credit Agreement (RSC Holdings Inc.), Second Lien Term Loan Credit Agreement (RSC Holdings Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan The Loans outstanding hereunder from time to time shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to either (i) with respect to a Eurodollar Loan, the Adjusted LIBOR Eurodollar Rate determined for such day the applicable Interest Period plus the Applicable Margin Percentage or (ii) with respect to an ABR Loan, the ABR, as selected by the Borrower in effect for accordance with the provisions hereof; provided, however, (A) upon delivery by the Agent of the notice described in Section 2.9(c), the Loans of each of the Lenders shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 2.9(c), (B) upon the delivery by a Lender of the notice described in Section 11.3(f) of the Participation Agreement, the Loans of such dayLender shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 11.3(f) of the Participation Agreement and (C) in such other circumstances as expressly provided herein, the Loans shall bear interest at the ABR.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
If (ci) If all or a portion of (iA) the principal amount of any Term Loan, (iiB) any interest payable thereon or (iiiC) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), subject to any grace periods therefor or (ii) (A) a replacement Construction Agent is hired in accordance with the provisions of the Agency Agreement, (B) Completion of all Properties has not occurred on or prior to the Construction Period Termination Date or (C) the cost of any Property exceeds the original Construction Budget therefor (or the applicable Construction Budget modified in accordance with the Operative Agreements), in each case as previously delivered to the Agent, such overdue amount (in the case of Section 2.8(b)(i)) or all Loans, including without limitation principal and interest, and all other amounts payable hereunder (in the case of Section 2.8(b)(ii)) shall bear interest at a rate per annum which is the lesser of (x) in the then current rate of interest respecting such payment or other amount, as the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1may be, plus 2.00two percent (2%, ) and (y) in the case of overdue interest, the highest interest rate that would be otherwise permitted by applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%law, in each case from the date of such nonpayment non-payment until such amount payment is paid in full (as well whether after as or before judgment) (in the case of Section 2.8(b)(i)) or Completion of all Properties (in the case of Section 2.8(b)(ii)). All such amounts referenced in this Section 2.8(b) shall be paid upon demand.
(dc) Interest shall be payable in arrears on each the applicable Scheduled Interest Payment Date, provided provided, that (i) interest accruing pursuant to clause paragraph (cb) of this Section 4.1 2.8 shall be payable from time to time on demand.
, (eii) It is the intention each prepayment of the parties hereto Loans shall be accompanied by accrued interest to comply strictly the date of such prepayment on the amount prepaid and (iii) interest shall accrue but not be payable during the Construction Period for a Construction Period Property in accordance with applicable usury laws; accordingly, it is stipulated and agreed that Section 5.1(b) of the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsParticipation Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Sabre Holdings Corp), Credit Agreement (Sabre Holdings Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan The Loans outstanding hereunder from time to time shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to either (i) with respect to a Eurodollar Loan, the Adjusted LIBOR Eurodollar Rate determined for such day the applicable Interest Period plus the Applicable Margin Percentage or (ii) with respect to an ABR Loan, the ABR plus the Applicable Percentage, as selected by the Borrower in effect for accordance with the provisions hereof; provided, however, (A) upon delivery by the Agent of the notice described in Section 2.9(c), the Loans of each of the Lenders shall bear interest at the ABR plus the Applicable Percentage applicable from time to time from and after the dates and during the periods specified in Section 2.9(c), (B) upon the delivery by a Lender of the notice described in Section 11.3(f) of the Participation Agreement, the Loans of such dayLender shall bear interest at the ABR plus the Applicable Percentage applicable from time to time from and after the dates and during the periods specified in Section 11.3(f) of the Participation Agreement and (C) in such other circumstances as expressly provided herein, the Loans shall bear interest at the ABR plus the Applicable Percentage.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is the lesser of (x) in the case then current rate of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, interest respecting such payment plus 2.00two percent (2%, ) and (y) in the case of overdue interest, the highest interest rate that would be otherwise permitted by applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%law, in each case from the date of such nonpayment non-payment until such amount is paid in full (as well whether after as or before judgment).
(dc) Interest shall be payable in arrears on each the applicable Scheduled Interest Payment Date, provided provided, that (i) interest accruing pursuant to clause paragraph (cb) of this Section 4.1 2.8 shall be payable from time to time on demand.
demand and (eii) It is the intention each prepayment of the parties hereto Loans shall be accompanied by accrued interest to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate date of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with such prepayment on the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsprepaid.
Appears in 2 contracts
Samples: Credit Agreement (Rf Micro Devices Inc), Credit Agreement (Rf Micro Devices Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days) for each day during each Interest Period with respect thereto at a rate per annum equal to (A) the Adjusted LIBOR LIBO Rate determined for such day Interest Period, plus (B) the Applicable Margin in effect for such dayMargin.
(b) Each ABR Loan (including each Swingline Loan) shall bear interest for each day that it (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, or over a year of 360 days when the Alternate Base Rate is outstanding determined by reference to clause (c) of the definition of “Alternate Base Rate”) at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(c) If Notwithstanding the foregoing, during an Event of Default, all or Obligations shall, to the extent permitted by applicable law, bear interest, after as well as before judgment, at a portion of per annum rate equal to (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principalprincipal of or interest on any Loan, 200 basis points plus the rate that would otherwise be applicable thereto pursuant to such Loan as provided in the relevant foregoing provisions preceding paragraphs of this Section 4.1, plus 2.00%2.08, (yii) in the case of overdue interestany LC Disbursement not reimbursed on the Business Day following the day Borrower receives notice that the LC Disbursement was made, 200 basis points plus the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this such LC Disbursement as provided in Section 4.1 2.06(i) or (other than clause (x) above) plus 2.00% and (ziii) in the case of any other amountsamount, 200 basis points plus the rate described in clause (b) of this Section 4.1 for applicable to ABR Loans accruing interest at the Alternate Base Rate plus 2.00%as provided in Section 2.08(b), in each case from the date of such nonpayment until to (but excluding) the date on which such amount is paid in full (as well after as before judgment)full.
(d) Interest shall be payable in arrears on each Interest Payment Date, ; provided that (i) interest accruing accrued pursuant to clause (cSection 2.08(c) of this Section 4.1 shall be payable from time to time on demand.
, (eii) It is in the intention event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan or repayment or prepayment of a Swingline 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 parties hereto current Interest Period therefor, accrued interest on such Loan shall be payable on the date of such conversion. Interest in respect of each Loan shall accrue from and including the first day of an Interest Period to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that but excluding the aggregate last day of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawssuch Interest Period.
Appears in 2 contracts
Samples: Credit Agreement (Rural Metro Corp /De/), Credit Agreement (Rural Metro Corp /De/)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, 4.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of fees or other amounts, the rate described in clause paragraph (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 2 contracts
Samples: Credit Agreement (Hertz Global Holdings Inc), Credit Agreement (Hertz Global Holdings Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day Interest Period plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base ABR plus the Applicable Margin.
(c) Each Multicurrency Loan shall bear interest at a rate per annum equal to the Eurocurrency Rate in effect for such day plus the Applicable Margin in effect for on the day such dayMulticurrency Loan is made.
(cd) Each CAF Advance shall bear interest at the rate determined in accordance with subsection 2.9.
(e) If all or a portion of (i) the any principal amount of any Term Loan, (ii) any interest payable thereon thereon, (iii) any facility fee or (iiiiv) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal of the Loans and/or any such overdue interest, facility fee or other amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, 2% or (y) in the case of any such overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (facility fee or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate subsection plus 2.002%, in each case from the date of such nonpayment non-payment until such overdue principal, interest, facility fee or other amount is paid in full (as well after as before judgment).
(df) Interest pursuant to this subsection shall be payable in arrears on each Interest Payment Date or CAF Advance Interest Payment Date, as the case may be, provided that interest accruing pursuant to clause paragraph (ce) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 2 contracts
Samples: Credit Agreement (Boston Scientific Corp), Credit Agreement (Boston Scientific Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan Subject to Section 9.19, the Loans outstanding hereunder from time to time shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to either (i) with respect to a Eurodollar Loan, the Adjusted LIBOR Eurodollar Rate determined for such day the applicable Interest Period plus the Applicable Margin or (ii) with respect to an ABR Loan, the ABR, as selected by the Borrower in effect for accordance with the provisions hereof; provided, however, (A) upon delivery by the Agent of the notice described in Section 2.9(c), the Loans of each of the Lenders shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 2.9(c), (B) upon the delivery by a Lender of the notice described in Section 11.3(f) of the Participation Agreement, the Loans of such dayLender shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 11.3(f) of the Participation Agreement and (C) in such other circumstances as expressly provided herein, the Loans shall bear interest at the ABR.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is the lesser of (x) in the case then current rate of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, interest respecting such payment plus 2.00two percent (2%, ) and (y) in the case of overdue interest, the highest interest rate that would be otherwise permitted by applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%law, in each case from the date of such nonpayment non-payment until such amount is paid in full (as well whether after as or before judgment).
(dc) Interest shall be payable in arrears on each the applicable Scheduled Interest Payment Date, provided provided, that (i) interest accruing pursuant to clause paragraph (cb) of this Section 4.1 2.8 shall be payable from time to time on demand.
demand and (eii) It is the intention each prepayment of the parties hereto Loans shall be accompanied by accrued interest to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate date of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with such prepayment on the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsprepaid.
Appears in 1 contract
Samples: Credit Agreement (American Oncology Resources Inc /De/)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Loan shall bear interest for each day that on which it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 for each day after the due date until such amount is paid in full at a rate per annum which is equal to (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, 2% per annum or (y) in the case of any such overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (fee or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (b) of this Section 4.1 for ABR subsection plus 2% per annum. If any Event of Default described in subsections 9(c) (with respect to subsection 8.1 only), (f), (h) or (j) shall occur and be continuing, and the Majority Lenders shall give notice to the Borrower that this sentence shall apply, then, until such Event of Default shall be cured or waived or such notice shall be withdrawn, the outstanding principal amount of all Loans accruing shall bear interest at 2% per annum above the Alternate Base Rate plus 2.00%, in each case from rate that would otherwise be applicable thereto pursuant to the date foregoing provisions of such nonpayment until such amount is paid in full this subsection 4.1 (as well after as before judgmentother than the first sentence of this paragraph (c)).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section subsection 4.1 shall be payable from time to time on demand.
(e) It In the event that any certificate delivered pursuant to subsection 7.2(b) is the intention inaccurate (regardless of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notesthe Commitments are in effect when such inaccuracy is discovered), or any other document relating or referring hereto or theretoand such inaccuracy, now or hereafter existingif corrected, shall never exceed under any circumstance whatsoever would have led to the maximum amount of interest allowed by applicable usury laws.application of
Appears in 1 contract
Samples: Credit Agreement (Nbty Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day (or, in the event of a Benchmark Transition Event or an Early Opt-in Election, the applicable reference rate determined for such day) plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section Subsection 4.1, plus 2.00%, % and (y) in the case of other amounts (including overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts), the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgmentany judgment relating thereto).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR LIBO Rate for such Eurocurrency Loan determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Base Rate Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(c) If all or a portion of (i) Upon the principal amount occurrence and during the continuance of any Term LoanEvent of Default, all Obligations (iito the extent legally permitted) any interest payable thereon or (iii) any 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 which that is equal to (xi) in the case of overdue principalthe Loans, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, % and (yii) in the case of overdue interestany interest payable on any Loan or other amount payable hereunder, at a rate per annum equal to the rate that would be otherwise then applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate Loans plus 2.00%, in each case case, from the date of such nonpayment until such amount not paid when due is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment DateDate or, provided that with respect to interest accruing payable pursuant to clause (cSection 3.2(c) of this Section 4.1 shall be payable above, from time to time on upon demand.
(e) It is Notwithstanding anything herein to the intention of contrary, if at any time the parties hereto to comply strictly applicable interest rate, together with applicable usury laws; accordingly, it is stipulated all fees and agreed charges that the aggregate of all amounts which constitute are treated as interest under applicable usury lawsLaw (collectively, whether the “Charges”), as provided for herein or in any other document executed in connection herewith, or otherwise contracted for, charged, received, taken or reserved by any Lender, shall exceed the maximum lawful rate (the “Maximum Rate”) that may be contracted for, charged, taken, reservedreceived or reserved by such Lender in accordance with applicable Law, or receivedthe rate of interest payable hereunder, in connection together with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existingall Charges payable to such Lender, shall never exceed under any circumstance whatsoever be limited to the maximum Maximum Rate; provided, that such excess amount of interest allowed by applicable usury lawsshall be paid to such Lender on subsequent payment dates to the extent not exceeding the legal limitation.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR applicable Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayInterest Period.
(b) Each ABR Base Rate Loan shall bear interest for each day that on which it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 for each day after the due date until such amount is paid in full at a rate per annum which is equal to (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, 3% per annum or (y) in the case of any such overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (fee or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (b) of this Section 4.1 for ABR plus 3% per annum. If any Event of Default described in Sections 8(c) (with respect to Section 7.1 only), (f), (h) or (j) shall occur and be continuing, and the Required Lenders shall give notice to the Borrower that this sentence shall apply, then, until such Event of Default shall be cured or waived or such notice shall be withdrawn, the outstanding principal amount of all Loans accruing shall bear interest at 3% per annum above the Alternate Base Rate plus 2.00%, in each case from rate that would otherwise be applicable thereto pursuant to the date foregoing provisions of such nonpayment until such amount is paid in full this Section 3.1 (as well after as before judgmentother than the first sentence of this paragraph (c)).
(d) Interest on Revolving Credit Loans shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 3.1 shall be payable from time to time on demand. Interest on Term Loans shall be payable monthly in arrears pursuant to Section 2.6 hereof.
(e) It is On each date when the intention payment of the parties hereto any principal, interest or fees are due hereunder or under any Note, Borrower agrees to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, maintain on deposit in connection an ordinary checking account maintained by Borrower with the indebtedness evidenced Administrative Agent (as such account shall be designated by Borrower in a written notice to the Administrative Agent from time to time, the “Designated Account”) an amount sufficient to pay such principal, interest or fees in full on such date. Borrower hereby authorizes the Administrative Agent (i) to deduct automatically all principal, interest or fees when due hereunder or under any Note from the Designated Account, and (ii) if and to the extent any payment of principal, interest or fees under this Agreement or any NotesNote is not made when due to deduct any such amount from any or all of the accounts of Borrower maintained at the Administrative Agent. The Administrative Agent agrees to provide written notice to Borrower of any automatic deduction made pursuant to this Section 3.1(e) showing in reasonable detail the amounts of such deduction.
(f) All funds deposited in the Designated Account shall be held under the sole dominion and control of the Collateral Agent for the account of and subject to the security interest of the Collateral Agent for the benefit of the Lenders. In addition to the rights of the Collateral Agent in the funds on deposit in the Designated Account as proceeds of the Collateral, the Borrower hereby pledges, assigns and grants to the Collateral Agent a security interest in all funds, whether or any other document relating or referring hereto or theretonot proceeds of the Collateral, now or hereafter existingon deposit in the Designated Account and all of the Borrower's present and future rights in and to the Designated Account and the funds on deposit therein.
(g) The Administrative Agent has the right, and the Borrower hereby irrevocably authorizes the Administrative Agent, to withdraw funds from and/or draw upon the Designated Account to pay amounts due and owing to the Lenders under this Agreement, including, without limitation, interest on and principal of Loans thereunder, and the fees set forth in Section 3.5 payable thereunder. The Borrower hereby agrees that all amounts deposited into the Designated Account or on deposit in the Designated Account shall, on the Business Day that Obligations are due after receipt thereof, be withdrawn by the Administrative Agent and either (i) if and solely to the extent any amount is outstanding on such day in respect of Obligations under any of the Loan Documents, such amounts on deposit in the Designated Account shall be applied by the Agent to satisfy such outstanding Obligations (and to the extent any such amounts on deposit in the Designated Account shall not be required to satisfy Obligations, such amounts shall be treated as provided for below) or (ii) if there are no Obligations at that time outstanding (and provided no Default or Event of Default has occurred and is continuing), upon Borrower’s written request to Administrative Agent, such amounts on deposit in the Designated Account shall be transferred by the Agent to the Borrower's main operating account with the Administrative Agent (the “Operating Account”). The Borrower shall on the next succeeding Business Day advise the Administrative Agent of the funds deposited to the Designated Account as cash for which the Administrative Agent did not afford the Borrower credit against the Obligations and the Administrative Agent shall make a retroactive adjustment for same. Upon the occurrence and during the continuation of a Default or an Event of Default, no amounts on deposit in the Designated Account shall be transferred by the Collateral Agent, and any amounts on deposit therein may be used by the Collateral Agent, at the Collateral Agent's discretion, to satisfy the Obligations as provided for above, or may be held by the Collateral Agent as cash collateral for the Obligations, as provided for above and in the Security Agreement.
(h) Upon the occurrence and during the continuation of an Event of Default, upon written direction from the Required Lenders, the Designated Account shall be converted into a lockbox account under the sole dominion and control of the Collateral Agent. In such event, the Borrower hereby agrees, on forms approved by the Collateral Agent, if requested by Collateral Agent at the direction of the Required Lenders, to instruct all Account Debtors to make all payments in respect of Accounts directly to the lockbox account. This lockbox account shall be non-interest bearing and shall be subject to debit or withdrawal solely by the Collateral Agent. The balance from time to time in this lockbox account shall be used to reduce the Obligations, at the Administrative Agent’s sole discretion, and such balance shall be held as security for such Obligations as provided in Section 3.1(g) hereof and in the Security Agreement.
(i) The Designated Account and the funds on deposit therein shall be subject to the Collateral Agent's right of setoff, Collateral Agent's lien and other rights for the benefit of the Lenders as the Collateral Agent has in and to deposit accounts maintained therein. Nothing contained herein shall be deemed to be a waiver of any rights or remedies the Collateral Agent may have against the Borrower or any funds of the Borrower on deposit at the Collateral Agent. No failure of the Collateral Agent to require, and no delay by the Collateral Agent in requiring, the Borrower to comply with any requirement of this Agreement shall constitute a waiver of compliance with any requirement of this Agreement. No failure of the Collateral Agent to exercise, and no delay by the Bank in exercising, any right or any remedy, whether under this Agreement, at law or otherwise shall constitute a waiver of any such right or remedy. Any waiver by the Collateral Agent of compliance with a requirement of this Agreement, or of any right or any remedy, shall never exceed be effective only if in a writing signed by the Collateral Agent, and shall be limited to the specific instance for which such waiver was granted and shall not constitute a waiver of such compliance, right or remedy in the future or of compliance with any other requirement, or of any other right or remedy, whether under this Agreement or otherwise.
(j) If, as a result of any circumstance whatsoever restatement of or other adjustment to the maximum financial statements of Borrower or for any other reason, Borrower or the Lenders determine that (i) the Financial Covenant used in the definition “Applicable Margin” as calculated by Borrower as of any applicable date was inaccurate and (ii) a proper calculation of such Financial Covenant would have resulted in higher pricing for such period, Borrower shall immediately and retroactively be obligated to pay to Agent for the account of the applicable Lenders, promptly on demand by Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to Borrower under the Bankruptcy Code of the United States, automatically and without further action by Agent or any Lender), an amount equal to the excess of the amount of interest allowed by applicable usury lawsand fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This paragraph shall not limit the rights of Agent or any Lender, as the case may be, under Section 8 (inclusive) hereunder or otherwise. Borrower’s obligations under this paragraph shall survive the termination of the Commitments and the repayment of the Aggregate Loans and all other Obligations hereunder.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayday plus (in the case of a Eurocurrency Loan of any Lender which is lent from a Lending Office in the United Kingdom or a Participating Member State) the Mandatory Cost.
(b) Each ABR Base Rate Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, Letter of Credit – BA 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant equal to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Default Rate plus 2.00%, in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
(f) Notwithstanding subsection 4.4(a), for the purposes of the Interest Act (Canada), (i) whenever a rate of interest or fee rate hereunder is calculated on the basis of a year (the “deemed year”) that contains fewer days than the actual number of days in the calendar year of calculation, such rate of interest or fee rate shall be expressed as a yearly rate by multiplying such rate of interest or fee rate by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed year, (ii) the principle of deemed reinvestment of interest shall not apply to any interest calculation hereunder and (iii) the rates of interest stipulated herein are intended to be nominal rates and not effective rates or yields.
(g) Interest on any Loan in an Alternative Currency advanced by the Alternative Currency Funding Fronting Lender shall be for the benefit of the Alternative Currency Funding Fronting Lender, and not any Alternative Currency Participating Lender, until the applicable Alternative Currency Participating Lender has funded its participation therein to the Alternative Currency Funding Fronting Lender.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, Subsection 4.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section Subsection 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of of, fees, commissions or other amounts, the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans that are Revolving Credit Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgmentany judgment relating thereto).
(d) Interest shall be payable by in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Term SOFR Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Term SOFR Rate determined for such day (or, in the event of a Benchmark Transition Event, the applicable reference rate determined for such day) plus the Applicable Margin in effect for such day.
(b) Each ABR Loan denominated in Dollars shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, Subsection 4.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section Subsection 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of fees, commissions or other amounts, the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans that are Revolving Credit Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgmentany judgment relating thereto).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 subsection (other than clause (x) above) plus 2.00% and (z) in the case of of, fees, commissions or other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Credit Agreement (Hertz Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Prime Rate Loan shall bear interest for -------------------------------- (including each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(bSwing Line Loan) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Prime Rate in effect for such day plus the Applicable Prime Rate Margin in effect for such day.
(cb) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, 2% or (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (commitment fee or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (ba) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate subsection plus 2.002%, in each case from the date of such nonpayment 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 clause paragraph (cb) of this Section 4.1 -------- subsection shall be payable from time to time on demand.
(ed) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any the Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawslaws including the Criminal Code of Canada.
Appears in 1 contract
Samples: Credit Agreement (CDW Holding Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, Subsection 4.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section Subsection 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of of, fees, commissions or other amounts, the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans that are Revolving Credit Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgmentany judgment relating thereto).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit fee or other amount payable hereunder hereunder, including Reimbursement Obligations, 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, % or (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of fees, commissions or other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection for Tranche B Term Loans which are ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgment).. 10023685561003003016v52 #8894688589588927v75
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Incremental Commitment Amendment (Warner Music Group Corp.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such daywith respect thereto.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day ABR plus the Applicable Margin in effect for such daywith respect thereto.
(c) If all or a portion of (i) the any principal amount of any Term Loan, (ii) any interest payable thereon thereon, or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.002%, or (y) in the case of any such overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (interest or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate subsection plus 2.002%, in each case from the date of such nonpayment non-payment until such overdue principal, interest or other amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Base Rate Loan shall bear interest for each day it is outstanding at a rate per annum equal to the Base Rate in effect on such day, plus 1/4%.
(b) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for applicable to such day Interest Period, plus the Applicable Margin in effect for such day2-1/4%.
(c) After the occurrence of an Event of Default and the expiration of any applicable grace periods specified in Article 8, interest shall accrue (after as well as before judgment)
(i) with respect to the principal of each Loan, at a rate per annum equal to two percent (2%) above the rate otherwise applicable thereto pursuant to Section 2.9(a) or (b), (ii) Each ABR Loan shall with respect to any other Obligations which prior to default bear interest for each day that it is outstanding hereunder at a specified rate, at a rate per annum equal to two percent (2%) above such specified rate, and (iii) with respect to any other amounts (including overdue payments of interest and fees) at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.002 1/4%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgment).
(d) Interest on each Loan (irrespective of Type) shall be payable monthly in arrears on the first Business Day of each calendar month, commencing with July 1, 1997, on the date on which such Loan is repaid, prepaid or converted and, if such Loan is a Eurodollar Loan and the Interest Payment DatePeriod applicable thereto ends on a day that is not the first Business Day of a calendar month, also on the last day of such Interest Period; provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 2.9 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness Indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, Loan Document shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 subsection (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Term Loan Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Prime Loan shall bear interest for each day that on which it is outstanding at a rate per annum equal to the Alternate Base Prime Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 for each day after the due date until such amount is paid in full at a rate per annum which is equal to (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, 3% per annum or (y) in the case of any such overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (fee or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (b) of this Section 4.1 for ABR subsection plus 3% per annum. If any Event of Default described in subsections 9(c) (with respect to subsection 8.1 only), (f), (h) or (j) shall occur and be continuing, and the Required Lenders shall give notice to the Borrower that this sentence shall apply, then, until such Event of Default shall be cured or waived or such notice shall be withdrawn, the outstanding principal amount of all Loans accruing shall bear interest at 3% per annum above the Alternate Base Rate plus 2.00%, in each case from rate that would otherwise be applicable thereto pursuant to the date foregoing provisions of such nonpayment until such amount is paid in full this subsection 4.1 (as well after as before judgmentother than the first sentence of this paragraph (c)).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section subsection 4.1 shall be payable from time to time on demand.
(e) It is On each date when the intention payment of the parties hereto any principal, interest or fees are due hereunder or under any Note, Borrower agrees to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, maintain on deposit in connection an ordinary checking account maintained by Borrower with the indebtedness evidenced Administrative Agent (as such account shall be designated by Borrower in a written notice to the Administrative Agent from time to time, the “Borrower Account”) an amount sufficient to pay such principal, interest or fees in full on such date. Borrower hereby authorizes the Administrative Agent (i) to deduct automatically all principal, interest or fees when due hereunder or under any Note from the Borrower Account, and (ii) if and to the extent any payment of principal, interest or fees under this Agreement or any Notes, Note is not made when due to deduct any such amount from any or all of the accounts of Borrower maintained at the Administrative Agent. The Administrative Agent agrees to provide written notice to Borrower of any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever automatic deduction made pursuant to this 4.1(e) showing reasonable detail the maximum amount amounts of interest allowed by applicable usury lawssuch deduction.
Appears in 1 contract
Samples: Credit Agreement (Napco Security Technologies, Inc)
Interest Rates and Payment Dates. (a) Each Subject to the provisions of Section 2.9(c), each Base Rate Loan shall bear interest at a rate per annum (computed on the basis of the actual number of days elapsed over a year of 360 days and twelve 30-day months) equal to the Base Rate plus the Applicable Margin.
(b) Subject to the provisions of Section 2.9(c), each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto (computed on the basis of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for the Interest Period in effect for such day Eurodollar Loan plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayInterest Period.
(c) If all or a portion of (iA) the principal amount of any Term Loan, (iiB) any interest payable thereon or (iiiC) 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 shall, upon notice to the Borrower from the Agent, bear interest at a rate per annum which is is
(x1) in the case of overdue principal, the rate that otherwise would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1subsection plus 4% per annum, plus 2.00%, or
(y2) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of interest or fees or other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.004%, in each case from the date of such nonpayment until such amount is paid in full (as well before and, to the extent permitted by law, after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing on overdue amounts pursuant to clause (cSection 2.9(c) of this Section 4.1 shall be payable from time to time on demand.
(e) It is As soon as practicable the intention Agent shall notify the Borrower and the Lenders of (A) each determination of a Eurodollar Rate, each change in the Base Rate and the Applicable Margin and (B) the effective date and the amount of each change in the interest rate on a Loan. Each determination of an interest rate by the Agent pursuant to any provision of this Agreement shall be conclusive and binding on the Borrower and the Lenders in the absence of clearly demonstrable error. At the request of the parties hereto Borrower, the Agent shall deliver to comply strictly with applicable usury laws; accordinglythe Borrower a statement showing the quotations used by the Agent in determining any interest rate pursuant to Sections 2.9(a), it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, (b) or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws(c).
Appears in 1 contract
Samples: Revolving Credit Agreement (Kti Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, 4.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of of, fees, commissions or other amounts, the rate described in clause paragraph (b) of this Section 4.1 for ABR Loans that are Revolving Credit Loans accruing interest at the Alternate Base Rate ABR rate plus 2.00%, in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Base Rate Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect plus the Applicable Margin.
(c) Each Revolving Offshore Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Offshore Rate determined for such day plus the Applicable Margin. 51 44
(d) Each Swing Line Loan shall bear interest at a rate per annum equal to the Base Rate plus the Applicable Margin in effect for Revolving Loans which are Base Rate Loans.
(e) Each Fronted Offshore Loan shall bear interest for each day during each Interest Period with respect thereto (or, if there is no Interest Period with respect thereto, for each day such Loan is outstanding), at a rate per annum equal to the Cost of Funds determined for such day.
(cf) If all or a portion of (i) the any principal amount of any Term Loan, (ii) any interest payable thereon thereon, (iii) any commitment fee or (iiiiv) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), any such overdue principal, interest, commitment fee or other amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, 2% or (y) in the case of any such overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 commitment fee or other amount, (other than clause (xA) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection plus 2%, in the case of amounts that are owing in Dollars or (B) (I) the Cost of Funds determined by the Administrative Agent in respect of the relevant Offshore Currency, plus (II) the Applicable Margin for ABR Revolving Offshore Loans accruing interest in effect at such time, plus (III) 2%, in the Alternate Base Rate plus 2.00%case of amounts owing that are denominated in Offshore Currencies, in each case from the date of such nonpayment non-payment until such overdue principal, interest, commitment fee or other amount is paid in full (as well after as before judgment).
(dg) Interest shall be payable in arrears on each Interest Payment DateDate and on the Revolving Credit Termination Date (in the case of Revolving Loans, Swing Line Loans and Fronted Offshore Loans) and the date of the final installment of principal (in the case of Acquisition Loans and Term Loans) and the Tender Loan Maturity Date (in the case of Tender Loans), provided that interest accruing pursuant to clause paragraph (cf) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Credit and Guarantee Agreement (Kci New Technologies Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR LIBO Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(bi) Each ABR Loan At any time an Event of Default has occurred and is continuing, all outstanding Loans (whether or not overdue) (to the extent legally permitted) shall bear interest for each day that it is outstanding at a rate per annum that is equal to the Alternate Base Rate in effect for such day rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus the Applicable Margin in effect for such day.
2% per annum, and (cii) If if all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon on any Loan or (iii) any commitment fee or other amount Obligation 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 which is (x) in the case of overdue principal, equal to the rate that would otherwise be then applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, Loans plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.002% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%per annum, in each case case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(dc) Interest shall be payable in arrears on each Interest Payment Date, ; provided that (i) interest accruing pursuant to clause paragraph (c) of this Section 4.1 shall be payable from time to time on demand.
demand during the applicability of Section 2.8(b), and (eii) It is in the intention event of any repayment or prepayment of any Loan, accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment. The Administrative Agent shall use commercially reasonable efforts to deliver an invoice 5 Business Days prior to each Interest Payment Date; provided that, the Administrative Agent’s failure to deliver an invoice pursuant to this Section 2.8(b) shall not relieve, excuse or waive any of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that Borrowers’ payment or other obligation under the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsLoan Documents.
Appears in 1 contract
Samples: Loan and Security Agreement (Benefit Street Partners Realty Trust, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause (c) of this Section 4.1 shall be payable from time to time on demand.. 1003003016v2 #895889271003585382v58
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Incremental Commitment Amendment (Warner Music Group Corp.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit fee or other amount payable hereunder hereunder, including Reimbursement Obligations, 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, % or (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of fees, commissions or other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection for Term Loans or Delayed Draw Term Loans which are ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Loan Loans shall bear interest for each day that it is outstanding the period from and including the date thereof until maturity thereof on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(ci) If all or a portion of (iA) the principal amount of any Term Loan, of the Loans or (iiB) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall, and (ii) if any Default or Event of Default described in subsection 10(f) shall occur, all outstanding Obligations shall, in each case, without limiting the rights of the Lenders under Section 10, bear interest at a rate per annum which is (xA) in the case of overdue principal, 2% above the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1subsection (provided that for all purposes of determining the Applicable Margin for purposes of this clause (c), plus 2.00%, the Applicable Level shall be deemed to be Level 1) or (yB) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.002% and (z) in the case of other amounts, above the rate described in clause paragraph (b) of this Section 4.1 subsection for Revolving Credit Loans which are ABR Loans accruing interest at (provided that for all purposes of determining the Alternate Base Rate plus 2.00%Applicable Margin purposes of this paragraph (c), the Applicable Level shall be deemed to be Level 1), in each case from the date of such nonpayment or Event of Default, as applicable, 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 clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is demand by the intention Administrative Agent made at the request of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsRequired Lenders.
Appears in 1 contract
Samples: Credit Agreement (Be Aerospace Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto if such overdue principal constituted principal of a Term Loan pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, % or (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of fees, commissions or other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection for ABR Loans accruing interest at the Alternate Base Rate that are Term Loans plus 2.00%, in each case from the date of such nonpayment 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 PROVIDED that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan -------------------------------- shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin with respect thereto in effect for on such day.
(b) Each ABR Loan (including, without limitation, each Swing Line Loan) shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day ABR plus the Applicable Margin with respect thereto in effect for on such day.
(c) If all or a portion of (i) the any principal amount of any Term Loan, (ii) any interest payable thereon thereon, (iii) any commitment fee or (iiiiv) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, 2% or (y) in the case of any such overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (commitment fee or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate subsection plus 2.002%, in each case from the date of such nonpayment non-payment until such overdue principal, interest, commitment fee or other amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 -------- subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Credit Agreement (Dynatech Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 subsection (other than clause (x) above) plus 2.00% and (z) in the case of of, fees, commissions or other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection for ABR Loans that are Revolving Credit Loans accruing interest at the Alternate Base Rate ABR rate plus 2.00%, in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall -------------------------------- bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Base Rate Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any facility 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, 2% or (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (facility fee or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate subsection plus 2.002%, in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 subsection -------- shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any the Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Credit Agreement (CDW Holding Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Prime Loan shall bear interest for each day that on which it is outstanding at a rate per annum equal to the Alternate Base Prime Rate in effect for such day plus the Applicable Margin in effect for such day.Margin.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 for each day after the due date until such amount is paid in full at a rate per annum which is equal to (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, 3% per annum or (y) in the case of any such overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (fee or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (b) of this Section 4.1 for ABR subsection plus 3% per annum. If any Event of Default described in subsections 9(c) (with respect to subsection 8.1 only), (f), (h) or (j) shall occur and be continuing, and the Required Lenders shall give notice to the Borrower that this sentence shall apply, then, until such Event of Default shall be cured or waived or such notice shall be withdrawn, the outstanding principal amount of all Loans accruing shall bear interest at 3% per annum above the Alternate Base Rate plus 2.00%, in each case from rate that would otherwise be applicable thereto pursuant to the date foregoing provisions of such nonpayment until such amount is paid in full this subsection 4.1 (as well after as before judgmentother than the first sentence of this paragraph (c).).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that provided, that, interest accruing pursuant to clause paragraph (c) of this Section subsection 4.1 shall be payable from time to time on demand.
(e) It is On each date when the intention payment of the parties hereto any principal, interest or fees are due hereunder or under any Note, Borrower agrees to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, maintain on deposit in connection an ordinary checking account maintained by Borrower with the indebtedness evidenced Administrative Agent (as such account shall be designated by Borrower in a written notice to the Administrative Agent from time to time, the “Borrower Account”) an amount sufficient to pay such principal, interest or fees in full on such date. Borrower hereby authorizes the Administrative Agent (i) to deduct automatically all principal, interest or fees when due hereunder or under any Note from the Borrower Account, and (ii) if and to the extent any payment of principal, interest or fees under this Agreement or any Notes, Note is not made when due to deduct any such amount from any or all of the accounts of Borrower maintained at the Administrative Agent. The Administrative Agent agrees to provide written notice to Borrower of any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever automatic deduction made pursuant to this 4.1(e) showing reasonable detail the maximum amount amounts of interest allowed by applicable usury laws.such deduction.
Appears in 1 contract
Samples: Credit Agreement (Napco Security Technologies, Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) [Reserved].
(d) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section Subsection 4.1, plus 2.00%, % and (y) in the case of other amounts (including overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts), the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (after as well after as before judgment); provided that (1) no amount shall be payable pursuant to this Subsection 4.1(d) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) no amounts shall accrue pursuant to this Subsection 4.1(d) on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender.
(de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (cd) of this Section Subsection 4.1 shall be payable from time to time on demanddemand exercised in accordance with Subsection 9.2.
(ef) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, reserved or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Prime Loan shall bear interest for each day that on which it is outstanding at a rate per annum equal to the Alternate Base Prime Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 for each day after the due date until such amount is paid in full at a rate per annum which is equal to (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, 3% per annum or (y) in the case of any such overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (fee or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (b) of this Section 4.1 for ABR subsection plus 3% per annum. If any Event of Default described in subsections 9(c) (with respect to subsection 8.1 only), (f), (h) or (j) shall occur and be continuing, and the Required Lenders shall give notice to the Borrower that this sentence shall apply, then, until such Event of Default shall be cured or waived or such notice shall be withdrawn, the outstanding principal amount of all Loans accruing shall bear interest at 3% per annum above the Alternate Base Rate plus 2.00%, in each case from rate that would otherwise be applicable thereto pursuant to the date foregoing provisions of such nonpayment until such amount is paid in full this subsection 4.1 (as well after as before judgmentother than the first sentence of this paragraph (c)).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that provided, that, interest accruing pursuant to clause paragraph (c) of this Section subsection 4.1 shall be payable from time to time on demand.
(e) It is On each date when the intention payment of the parties hereto any principal, interest or fees are due hereunder or under any Note, Borrower agrees to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, maintain on deposit in connection an ordinary checking account maintained by Borrower with the indebtedness evidenced Administrative Agent (as such account shall be designated by Borrower in a written notice to the Administrative Agent from time to time, the “Borrower Account”) an amount sufficient to pay such principal, interest or fees in full on such date. Borrower hereby authorizes the Administrative Agent (i) to deduct automatically all principal, interest or fees when due hereunder or under any Note from the Borrower Account, and (ii) if and to the extent any payment of principal, interest or fees under this Agreement or any Notes, Note is not made when due to deduct any such amount from any or all of the accounts of Borrower maintained at the Administrative Agent. The Administrative Agent agrees to provide written notice to Borrower of any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever automatic deduction made pursuant to this 4.1(e) showing reasonable detail the maximum amount amounts of interest allowed by applicable usury lawssuch deduction.
Appears in 1 contract
Samples: Credit Agreement (Napco Security Technologies, Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgment).. #88946885v8
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Incremental Commitment Amendment (Warner Music Group Corp.)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, % or (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of fees or other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection for ABR Loans accruing interest at the Alternate Base Rate that are Tranche B Term Loans plus 2.00%, in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Credit Agreement (Relocation Management Systems Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, % or (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of fees or other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection for ABR Loans accruing interest at the Alternate Base Rate that are Tranche B Term Loans plus 2.00%, in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan The Loans outstanding hereunder from time to time shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to either (i) with respect to a Eurodollar Loan, the Adjusted LIBOR Eurodollar Rate determined for such day the applicable Interest Period plus the Applicable Margin Percentage or (ii) with respect to an ABR Loan, the ABR, as selected by the Borrower at the direction of the Credit Parties in effect for accordance with the provisions hereof; provided, however, (A) upon delivery by the Agent of the notice described in Section 2.9(c), the Loans of each of the Lenders shall bear interest at the ABR from and after the dates and during the periods specified in Section 2.9(c), (B) upon the delivery by a Lender of the notice described in Section 11.3(e) of the Participation Agreement, the Loans of such dayLender shall bear interest at the ABR from and after the dates and during the periods specified in Section 11.3(e) of the Participation Agreement and (C) in such other circumstances as expressly provided herein, the Loans shall bear interest at the ABR.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is the lesser of (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, ABR plus 2.00two percent (2%, ) and (y) in the case of overdue interest, the highest interest rate that would be otherwise permitted by applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%law, in each case from the date of such nonpayment non-payment until such amount is paid in full (as well whether after as or before judgment).
(dc) Interest shall be payable in arrears on each the applicable Scheduled Interest Payment Date, provided provided, that (i) interest accruing pursuant to clause paragraph (cb) of this Section 4.1 2.8 shall be payable from time to time on demand.
demand and (eii) It is the intention each prepayment of the parties hereto Loans shall be accompanied by accrued interest to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate date of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with such prepayment on the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsprepaid.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Term SOFR Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Term SOFR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Daily Simple SOFR Rate Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Daily Simple SOFR Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(cd) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, Subsection 4.1 plus 2.00%, (y) in the case of overdue interest, the rate that would otherwise be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section Subsection 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of fees, commissions or other amounts, the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans that are Revolving Credit Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (after as well after as before any judgment); provided that (1) no amount shall be payable pursuant to this Subsection 4.1(d) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) no amounts shall accrue pursuant to this Subsection 4.1(d) on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender.
(de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (cd) of this Section Subsection 4.1 shall be payable from time to time on demanddemand exercised in accordance with Subsection 9.2.
(ef) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any The Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount Loans shall bear interest at a rate of 12.0% per annum annum, all of which is (x) in shall be paid in-kind by the case of overdue principal, Borrower by increasing the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal amount of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause Loans on each Interest Payment Date.
(b) During the continuance of this Section 4.1 for ABR Loans accruing an Event of Default under subsection 8.1(a), the Borrower shall pay interest in cash on past due amounts owing by it hereunder at a fluctuating interest rate per annum at all times equal to the Alternate Base Default Rate plus 2.00%to the fullest extent permitted by applicable Requirement of Law and subject to the Subordination Restrictions; provided that, in each case from the date of if cash payment is not permitted due to such nonpayment until Subordination Restrictions or otherwise, such amount is Default Rate shall be paid in full (as well after as before judgment)in-kind.
(dc) Interest shall be payable by the Borrower in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (cb) of this Section 4.1 subsection 3.1 shall be payable from time to time on demanddemand (subject to the Subordination Restrictions).
(ed) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection 4.1 plus 2.00%, (y) in the case of other amounts (including overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts), the rate described in clause paragraph (b) of this Section subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate that are Revolving Credit Loans plus 2.00%, in each case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment); provided that (1) no amount shall be payable pursuant to this subsection 4.1(c) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) no amounts shall accrue pursuant to this subsection 4.1(c) on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender.
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawslaws (the “Highest Lawful Rate”). If the rate of interest (determined without regard to the preceding sentence) under this Agreement at any time exceeds the Highest Lawful Rate, the amounts outstanding under this Agreement or any Notes shall bear interest at the Highest Lawful Rate until the total amount of interest due hereunder or thereunder equals the amount of interest that would have been due hereunder or thereunder if the stated rates of interest set forth in this Agreement had at all times been in effect. In addition, if when the amounts outstanding under this Agreement or any Notes, are repaid in full the total interest due hereunder or thereunder (taking into account the increase provided for above) is less than the total amount of interest that would have been due hereunder or thereunder if the stated rates of interest set forth in this Agreement had at all times been in effect, then to the extent permitted by law, the applicable Borrower shall pay to the Administrative Agent an amount equal to the difference between the amount of interest paid and the amount of interest that would have been paid if the Highest Lawful Rate had at all times been in effect.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Term SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate Term SOFR determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Base Rate Loan shall bear interest for each day that on which it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(c) If Each Daily Simple SOFR Loan (following the effectiveness of a Benchmark Replacement), shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to Adjusted Daily Simple SOFR determined for such day plus the Applicable Margin.
(i) At any time an Event of Default pursuant to Sections 7.1(a) or 7.1(f) has occurred and is continuing, all outstanding Loans (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% per annum and (ii) if all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon on any Loan or (iii) 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 which is (x) in the case of overdue principal, equal to the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise then applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate Loans plus 2.00%2% per annum, in each case case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(de) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to clause paragraph (cd) of this Section 4.1 shall be payable from time to time on demanddemand during the applicability of Section 2.11(d). The Administrative Agent shall use commercially reasonable efforts to deliver an invoice 5 Business Days prior to each Interest Payment Date; provided that, the Administrative Agent’s failure to deliver an invoice pursuant to this Section 2.11(e) shall not relieve, excuse or waive the Borrower’s payment or other obligation under the Loan Documents.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Credit Agreement (FS Credit Real Estate Income Trust, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan The Loans outstanding hereunder from time to time shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to either (i) with respect to a Eurodollar Loan, the Adjusted LIBOR Eurodollar Rate determined for such day the applicable Interest Period plus the Applicable Margin Percentage or (ii) with respect to an ABR Loan, the ABR, as selected by the Borrower in effect for accordance with the provisions hereof; provided, however, (A) -------- ------- upon delivery by the Agent of the notice described in Section 2.9(c), the Loans of each of the Lenders shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 2.9(c), (B) upon the delivery by a Lender of the notice described in Section 11.3(f) of the Participation Agreement, the Loans of such dayLender shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 11.3(f) of the Participation Agreement and (C) in such other circumstances as expressly provided herein, the Loans shall bear interest at the ABR.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is the lesser of (x) in the case then current rate of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, interest respecting such payment plus 2.00two percent (2%, ) and (y) in the case of overdue interest, the highest interest rate that would be otherwise permitted by applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%law, in each case from the date of such nonpayment non-payment until such amount is paid in full (as well whether after as or before judgment).
(dc) Interest shall be payable in arrears on each the applicable Scheduled Interest Payment Date, provided provided, that (i) interest accruing pursuant to clause (cSection -------- 2.8(b) of this Section 4.1 shall be payable from time to time on demand.
demand and (eii) It is the intention each prepayment of the parties hereto Loans shall be accompanied by accrued interest to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate date of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with such prepayment on the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsprepaid.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days) for each day during each Interest Period with respect thereto at a rate per annum equal to (A) the Adjusted LIBOR LIBO Rate determined for such day Interest Period, plus (B) the Applicable Margin in effect for such dayMargin.
(b) Each ABR Loan shall bear interest for each day that it (computed on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be, or over a year of 360 days when the Alternate Base Rate is outstanding determined by reference to clause (b)(z) of the definition of “Alternate Base Rate”) at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(c) If Notwithstanding the foregoing, during an Event of Default, at the request of Requisite Lenders, all or Obligations shall, to the extent permitted by applicable law, bear interest, after as well as before judgment, at a portion of per annum rate equal to (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principalprincipal of and premium, if any or interest on any Loan, 200 basis points plus the rate that would otherwise be applicable thereto pursuant to such Loan as provided in the relevant foregoing provisions preceding paragraphs of this Section 4.1, plus 2.00%2.08, (yii) in the case of overdue interestany LC Disbursement not reimbursed on the Business Day following the day Borrower receives notice that the LC Disbursement was made, 200 basis points plus the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this such LC Disbursement as provided in Section 4.1 2.06(i) or (other than clause (x) above) plus 2.00% and (ziii) in the case of any other amountsamount, 200 basis points plus the rate described in clause (b) of this Section 4.1 for applicable to ABR Loans accruing interest at the Alternate Base Rate plus 2.00%as provided in Section 2.08(b), in each case from the date of such nonpayment until to (but excluding) the date on which such amount is paid in full (as well after as before judgment)full.
(d) Interest shall be payable in arrears on each Interest Payment Date, ; provided that (i) interest accruing accrued pursuant to clause (cSection 2.08(c) of this Section 4.1 shall be payable from time to time on demand.
, (eii) It is in the intention event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving 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 parties hereto current Interest Period therefor, accrued interest on such Loan shall be payable on the date of such conversion. Interest in respect of each Loan shall accrue from and including the first day of an Interest Period to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that but excluding the aggregate last day of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawssuch Interest Period.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar EurocurrencyTerm SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate RateTerm SOFR determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon thereon, or (iii) any 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 which is (xw) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection 3.1 plus 2.00%, (yx) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 subsection 3.1 plus 2.00% (other than clause (xw) above) plus 2.00% and (zy) in the case of other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection 3.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection 3.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Term Loan Credit Agreement (US Foods Holding Corp.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(c) Each Acceptance shall be subject to a Stamping Fee payable on the date of acceptance thereof.
(d) Each Canadian Base Rate Loan shall bear interest at a rate per annum equal to the US Base Rate plus the Applicable Margin.
(e) Each Canadian Prime Rate Loan shall bear interest at a rate per annum equal to the Canadian Prime Rate plus the Applicable Margin.
(f) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1subsection plus 2% (or, in the case of overdue Acceptance Reimbursement Obligations, the rate that would be applicable to Canadian Prime Rate Loans plus 2.002%, ) or (y) ), to the extent permitted by applicable law, in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (commitment fee or other than clause (x) above) plus 2.00% and (z) amount due in the case of other amountsDollars, the rate described in clause paragraph (b) or (d) of this Section 4.1 subsection for ABR Loans accruing interest at the Alternate Base Rate applicable Facility (or, if there is no applicable Facility, for the Revolving Credit Facility) plus 2.002%, in each case from the date of such nonpayment non-payment until such amount is paid in full (as well after as before judgment), or (z) to the extent permitted by applicable law, in the case of overdue interest, commitment fee or other amount due in Canadian Dollars, the rate described in paragraph (e) of this subsection plus 2%, in each case from the date of such non-payment until such amount is paid in full (as well after as before judgment); provided that, for purposes of this subsection 2.12(f), any amount secured by mortgages on real property, if required by the Interest Act (Canada), shall bear interest at the same rate as such principal or interest amount not in arrears.
(dg) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (cf) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan The Loans outstanding hereunder from time to time shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to either (i) with respect to a Eurodollar Loan, the Adjusted LIBOR Eurodollar Rate determined for such day the applicable Interest Period plus the Applicable Margin Percentage or (ii) with respect to an ABR Loan, the ABR, as selected by the Borrower in effect for accordance with the provisions hereof; provided, however, (A) upon delivery by the Agent of the notice described in Section 2.9(c), the Loans of each of the Lenders shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 2.9(c), (B) upon the delivery by a Lender of the notice described in Section 11.3(f) of the Participation Agreement, the Loans of such dayLender shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 11.3(f) of the Participation Agreement and (C) in such other circumstances as expressly provided herein, the Loans shall bear interest at the ABR.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
If (ci) If all or a portion of (iA) the principal amount of any Term Loan, (iiB) any interest payable thereon or (iiiC) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise)) or (ii) (A) a replacement Construction Agent is hired in accordance with the provisions of the Agency Agreement, (B) Completion of all Properties has not occurred on or prior to the Construction Period Termination Date or (C) the cost of any Property exceeds the original Construction Budget therefor (or the applicable Construction Budget modified in accordance with the Operative Agreements) in each case as previously delivered to the Agent, such overdue amount (in the case of Section 2.8(b)(i)) or all Loans, including without limitation principal and interest, and all other amounts payable hereunder (in the case of Section 2.8(b)(ii)) shall bear interest at a rate per annum which is the lesser of (x) in the then current rate of interest respecting such payment or other amount, as the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1may be, plus 2.00two percent (2%, ) and (y) in the case of overdue interest, the highest interest rate that would be otherwise permitted by applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%law, in each case from the date of such nonpayment non-payment until such amount payment is paid in full (as well whether after as or before judgment) (in the case of Section 2.8(b)(i)) or Completion of all Properties (in the case of Section 2.8(b)(ii)). All such amounts referenced in this Section 2.8(b) shall be paid upon demand.
(dc) Interest shall be payable in arrears on each the applicable Scheduled Interest Payment Date, provided provided, that (i) interest accruing pursuant to clause paragraph (cb) of this Section 4.1 2.8 shall be payable from time to time on demand.
demand and (eii) It is the intention each prepayment of the parties hereto Loans shall be accompanied by accrued interest to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate date of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with such prepayment on the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsprepaid.
Appears in 1 contract
Samples: Credit Agreement (Convergys Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection 4.1 plus 2.00%, (y) in the case of other amounts (including overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts), the rate described in clause paragraph (b) of this Section subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate that are Revolving Credit Loans plus 2.00%, in each case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment); provided that (1) no amount shall be payable pursuant to this subsection 4.1(c) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) no amounts shall accrue pursuant to this subsection 4.1(c) on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender.
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR LIBO Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, Subsection 4.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section Subsection 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of of, fees, commissions or other amounts, the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans that are Revolving Credit Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgmentany judgment relating thereto).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demanddemand exercised in accordance with Subsection 9.2.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar EurodollarSOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate Eurodollar RateAdjusted Term SOFR determined for such day plus the Applicable Margin in effect for such daytherefor.
(b) Each ABR Loan shall bear interest for each day that it is outstanding from the Closing Date or applicable Conversion Date, as the case may be, at a rate per annum equal to the Alternate Base Rate in effect for such day ABR plus the Applicable Margin in effect for such daytherefor.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall shall, to the extent permitted by applicable law, bear interest at a rate per annum which is (x) in the case of overdue principal, equal to the rate that would otherwise be Active.40134080.7 applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.002% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until non-payment to (but excluding) the date on which such amount is paid in full (after as well after as before judgment) (or, in the event there is no applicable rate, 2.0% per annum in excess of the rate otherwise applicable to ABR Loans from time to time).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 shall be payable from time to time on demanddemand and on the Maturity Date.
(e) It is In connection with the intention use or administration of SOFR or Term SOFR, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. The Administrative Agent will promptly notify the Borrower and the Lenders of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate effectiveness of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, any Conforming Changes in connection with the indebtedness evidenced by this Agreement use or any Notesadministration of SOFR or Term SOFR, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsas applicable.
Appears in 1 contract
Samples: Term Loan Credit Agreement (SOUTHERN CALIFORNIA EDISON Co)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Loan Loans shall bear interest for each day that it is outstanding the period from and including the date thereof until maturity thereof on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(c) If all or a portion of (i) the principal amount of any Term Loan, of the Loans or (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall shall, without limiting the rights of the Lenders under Section 14, bear interest at a rate per annum which is (x) in the case of overdue principal, 2% above the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1subsection (provided that for all purposes of determining the Applicable Margin, plus 2.00%, the Applicable Revolving/Tranche A Level and the Applicable Tranche B Level shall each be deemed to be Level 1) or (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.002% and (z) in the case of other amounts, above the rate described in clause paragraph (b) of this Section 4.1 subsection for ABR Revolving Credit Loans accruing interest at (provided that for purposes of this paragraph (c), the Alternate Base Rate plus 2.00%Applicable Revolving/Tranche A Level shall be deemed to be Level 1), in each case from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is demand by the intention Administrative Agent made at the request of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsRequired Lenders.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause (c) of this Section 4.1 shall be payable from time to time on demand.. 1003003016v2 #895889271003585382v5 8
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Incremental Commitment Amendment (Warner Music Group Corp.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the aggregate outstanding amount of the Loans and such overdue amount shall bear interest at a rate per annum which is (xA) in the case of overdue principalthe Loans, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, (yB) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 subsection (other than clause (xA) above) plus 2.00% and (zC) in the case of other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment non-payment until such overdue 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 clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Credit Agreement (Sirva Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Term SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the applicable Adjusted LIBOR Term SOFR Rate determined for such day (or, in the event of a Benchmark Transition Event, the applicable reference rate determined for such day) plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section Subsection 4.1, plus 2.00%, % and (y) in the case of other amounts (including overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts), the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgmentany judgment relating thereto).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
(f) Notwithstanding anything to the contrary herein or in any other Loan Document, (i) all Eurodollar Loans (as used in this Subsection 4.1(f), as such term is defined in this Agreement as in effect immediately prior to the First Amendment Effective Date) outstanding under this Agreement as of the First Amendment Effective Date may, in any event, remain outstanding as Eurodollar Loans pursuant to the terms of this Agreement (as in effect immediately prior to the First Amendment Effective Date) and shall be deemed to have been borrowed, continued or converted, as applicable, pursuant to, and shall be subject to, the terms of this Agreement (as in effect immediately prior to the First Amendment Effective Date) until the last day of the Interest Period (as such term is defined in this Agreement as in effect immediately prior to the First Amendment Effective Date) applicable thereto (provided, that in no event shall any such Eurodollar Loan be permitted to be continued as a Eurodollar Loan after the termination or expiration of its applicable Interest Period (as such term is defined in this Agreement as in effect immediately prior to the First Amendment Effective Date)) and (ii) on the last day of such Interest Period, in lieu of the Borrower Representative delivering a notice or taking any action prescribed by this Agreement (as in effect immediately prior to the First Amendment Effective Date), all such Eurodollar Loans shall be automatically continued as Term SOFR Loans bearing interest based upon Term SOFR with a one-month Interest Period.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar SOFR Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate Term SOFR determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Prime Loan shall bear interest for each day that on which it is outstanding at a rate per annum equal to the Alternate Base Prime Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 for each day after the due date until such amount is paid in full at a rate per annum which is equal to (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, subsection plus 2.00%, 3% per annum or (y) in the case of any such overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (fee or other than clause (x) above) plus 2.00% and (z) in the case of other amountsamount, the rate described in clause paragraph (b) of this Section 4.1 for ABR subsection plus 3% per annum. If any Event of Default described in subsections 9(c) (with respect to subsection 8.1 only), (f), (h) or (j) shall occur and be continuing, and the Required Lenders shall give notice to the Borrower that this sentence shall apply, then, until such Event of Default shall be cured or waived or such notice shall be withdrawn, the outstanding principal amount of all Loans accruing shall bear interest at 3% per annum above the Alternate Base Rate plus 2.00%, in each case from rate that would otherwise be applicable thereto pursuant to the date foregoing provisions of such nonpayment until such amount is paid in full this subsection 4.1 (as well after as before judgmentother than the first sentence of this paragraph (c)).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that provided, that, interest accruing pursuant to clause paragraph (c) of this Section subsection 4.1 shall be payable from time to time on demand.
(e) It is On each date when the intention payment of the parties hereto any principal, interest or fees are due hereunder or under any Note, Xxxxxxxx agrees to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, maintain on deposit in connection an ordinary checking account maintained by Borrower with the indebtedness evidenced Administrative Agent (as such account shall be designated by Borrower in a written notice to the Administrative Agent from time to time, the “Borrower Account”) an amount sufficient to pay such principal, interest or fees in full on such date. Borrower hereby authorizes the Administrative Agent (i) to deduct automatically all principal, interest or fees when due hereunder or under any Note from the Borrower Account, and (ii) if and to the extent any payment of principal, interest or fees under this Agreement or any Notes, Note is not made when due to deduct any such amount from any or all of the accounts of Xxxxxxxx maintained at the Administrative Agent. The Administrative Agent agrees to provide written notice to Borrower of any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever automatic deduction made pursuant to this 4.1(e) showing reasonable detail the maximum amount amounts of interest allowed by applicable usury lawssuch deduction.
Appears in 1 contract
Samples: Credit Agreement (Napco Security Technologies, Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan denominated in Dollars shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, Subsection 4.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section Subsection 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of of, fees, commissions or other amounts, the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans that are Revolving Credit Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgmentany judgment relating thereto).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section Subsection 4.1, plus 2.00%, % and (y) in the case of other amounts (including overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts), the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause (c) of this Section Subsection 4.1 shall be payable from time to time on demanddemand exercised in accordance with Subsection 9.2.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Second Lien Credit Agreement (PharMEDium Healthcare Holdings, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section Subsection 4.1, plus 2.00%, % and (y) in the case of other amounts (including overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts), the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgment); provided that (1) no amount shall be payable pursuant to this Subsection 4.11(c) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) no amounts shall accrue pursuant to this Subsection 4.1(c) on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender.
(d) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demanddemand exercised in accordance with Subsection 9.2.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: First Lien Credit Agreement (PharMEDium Healthcare Holdings, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, letter of credit commission, letter of credit 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 which is (xw) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1subsection 3.1 plus 2.00%, (x) in the case of any Reimbursement Obligation, at the rate applicable under subsection 2.9(e)(ii) without giving effect to the proviso thereto plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan or Reimbursement Obligation pursuant to the relevant foregoing provisions of this Section 4.1 subsection 3.1 (other than clause clauses (w) and (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause paragraph (b) of this Section 4.1 subsection 3.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection 3.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Credit Agreement (HSI IP, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section Subsection 4.1, plus 2.00%, % and (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section Subsection 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day2.50%.
(b) Each ABR Loan shall bear interest for each day that it is outstanding on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day1.50%.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee, any additional 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 which is (xA) in the case of overdue principal, 2% above the rate that which would otherwise then be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case payable from the date of such nonpayment until such amount is paid in full (as well both before and after as before judgment)) or (B) if no rate would then be payable, 3.50% above the ABR.
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 subsection shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any the Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Credit Agreement (RBX Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Base Rate Loan shall bear interest for each day that on which it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(ci) If all or a portion of (i) the principal amount of any Term LoanLoan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), all outstanding Loans (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2%, and (ii) if all or a portion of any interest payable thereon on any Loan or (iii) 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 which is (x) in the case of overdue principal, equal to the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise then applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate Loans plus 2.002%, in each case case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (to the extent not prohibited by law, after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided provided, that to the extent the rate of interest applicable to any Loan pursuant to Section 2.11(a) or (b), as applicable, exceeds 14%, such excess may, at the option of the Borrower, be capitalized as principal and thereby added on each Interest Payment Date to the aggregate outstanding principal amount of such Loan; provided, further, that interest accruing pursuant to clause paragraph (c) of this Section 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Credit Agreement (Anc Rental Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgment).. 1002368556v5 #88946885v8
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Incremental Commitment Amendment (Warner Music Group Corp.)
Interest Rates and Payment Dates. (a) Each Eurodollar EurodollarSOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate RateTerm SOFR determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) Each SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to Term SOFR determined for such day plus the Applicable Margin in effect for such day.
(d) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgment).
(de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (cd) of this Section 4.1 shall be payable from time to time on demand.
(ef) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan denominated in Dollars shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, Subsection 4.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section Subsection 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of of, fees, commissions or other amounts, the rate described in clause (b) of this Section Subsection 4.1 for ABR Loans that are Revolving Credit Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment until such amount is paid in full (as well after as before judgmentany judgment relating thereto).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to clause (c) of this Section Subsection 4.1 shall be payable from time to time on demanddemand exercised in accordance with Subsection 9.2.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Revolving Credit Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
Appears in 1 contract
Samples: Credit Agreement (CHC Group Ltd.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day17.0%.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loanof, (ii) or any interest payable thereon or (iii) on, any other amount payable hereunder Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans (whether or not overdue) shall bear interest at a rate per annum which is (x) in the case of overdue principal, equal to the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, 2.16 plus 2.002%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from the date of such nonpayment 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 clause paragraph (cb) of this Section 4.1 2.16 shall be payable from time to time on demand.
(ei) It is the intention If any provision of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement would obligate the Borrower to make any payment of interest or other amount payable to any NotesLender in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by such Lender of “interest” at a “criminal rate” (as such terms are construed under the Criminal Code (Canada)), then notwithstanding such provision, such amount or any other document relating or referring hereto or thereto, now or hereafter existing, rate shall never exceed under any circumstance whatsoever be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by such Lender of “interest” at a “criminal rate”, such adjustment to be effected, to the extent necessary, (x) first, by reducing the amount or rates of interest allowed required to be paid under this Section 2.16 and (y) thereafter, by applicable usury lawsreducing any fees, commissions, premiums and other amounts which would constitute interest for purposes of Section 347 of the Criminal Code (Canada).
(ii) If, notwithstanding the provisions of clause (i) of this Section 2.16(d), and after giving effect to all adjustments contemplated thereby, any Lender shall have received an amount in excess of the maximum permitted by such clause, then the Borrower shall be entitled, by notice in writing to such Lender, to obtain reimbursement from such Lender of an amount equal to such excess, and, pending such reimbursement, such amount shall be deemed to be an amount payable by such Lender to the Borrower.
(iii) Any amount or rate of interest referred to in this Section 2.16(d) shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term of any Loan on the assumption that any charges, fees or expenses that fall within the meaning of “interest” (as defined in the Criminal Code (Canada)) shall, if they relate to a specific period of time, be prorated over that period of time and otherwise be prorated over the period from the Closing Date to the Initial Maturity Date or the Final Maturity Date, as applicable, and, in the event of dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Agent shall be conclusive for the purposes of such determination absent manifest error.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan The Loans outstanding hereunder from time to time shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to either (i) with respect to a Eurodollar Loan, the Adjusted LIBOR Eurodollar Rate determined for such day the applicable Interest Period plus the Applicable Margin Percentage or (ii) with respect to an ABR Loan, the ABR, as selected by the Borrower in effect for accordance with the provisions hereof; provided, however, (A) upon delivery by the Agent of the notice described in Section 2.9(c), the Loans of each of the Lenders shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 2.9(c), (B) upon the delivery by a Lender of the notice described in Section 11.3(f) of the Participation Agreement, the Loans of such dayLender shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 11.3(f) of the Participation Agreement and (C) in such other circumstances as expressly provided herein, the Loans shall bear interest at the ABR.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
If (ci) If all or a portion of (iA) the principal amount of any Term Loan, (iiB) any interest payable thereon or (iiiC) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise)) or (ii) (A) a replacement Construction Agent is hired in accordance with the provisions of the Agency Agreement, (B) Completion of all Properties has not occurred on or prior to the Construction Period Termination Date or (C) the cost of any Property exceeds the original Construction Budget therefor (or the applicable Construction Budget modified in accordance with the Operative Agreements) in each case as previously delivered to the Agent, such overdue amount (in the case of Section 2.8(b)(i)) or all Loans, including without limitation principal and interest, and all other amounts payable hereunder (in the case of Section 2.8(b)(ii)) shall bear interest at a rate per annum which is the lesser of (x) in the then current rate of interest respecting such payment or other amount (or, if such amount is not then interest-bearing, at the then current rate of interest respecting Eurodollar Loans having an Interest Period of one month and, if such Eurodollar Loans are not then available, at the ABR), as the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1may be, plus 2.00two percent (2%, ) and (y) in the case of overdue interest, the highest interest rate that would be otherwise permitted by applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%law, in each case from the date of such nonpayment non-payment until such amount payment is paid in full (as well whether after as or before judgment) (in the case of Section 2.8(b)(i)), Completion of all Properties (in the case of Section 2.8(b)(ii)) or all sums due and all obligations to be performed in each case on account of the Company Obligations are paid and performed in full (in the case of Sections 2.8(b)(i) and 2.8(b)(ii)). All such amounts referenced in this Section 2.8(b) shall be paid upon demand.
(dc) Interest shall be payable in arrears on each the applicable Scheduled Interest Payment Date, provided provided, that (i) interest accruing pursuant to clause paragraph (cb) of this Section 4.1 2.8 shall be payable from time to time on demand.
demand and (eii) It is the intention each prepayment of the parties hereto Loans shall be accompanied by accrued interest to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate date of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with such prepayment on the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsprepaid.
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Interest Rates and Payment Dates. (a) Each Subject to Section 11.15, -------------------------------- ------------- each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect determined for such day.. ----
(b) Each Subject to Section 11.15, each ABR Loan shall bear interest for ------------- each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day ABR plus ---- the Applicable Margin in effect for such day.
(ci) If Subject to Section 11.15, after the occurrence and during the ------------- continuance of an Event of Default under Section 9(a) of this Agreement, ------------ all Loans and Reimbursement Obligations shall bear interest at a rate per annum which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 4.1 plus 2% or (y) in the case of Reimbursement Obligations, ----------- ---- at a rate per annum equal to the ABR plus the Applicable Margin plus 2% and ---- (ii) if all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon on any Loan or (iii) Reimbursement Obligation or any commitment fee, letter of credit 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 which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant equal to the relevant foregoing provisions of this Section 4.1, ABR plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) Applicable ---- Margin plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.002%, in each case case, with respect to clauses (i) and (ii) above, from the date of such nonpayment 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 clause paragraph (c) of this -------- Section 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
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Samples: Credit Agreement (Radio One Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(ci) If all or a portion of (i) the principal amount of any Term LoanLoan 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 Section plus 2%, and (ii) if all or a portion of any interest payable thereon on any Loan or (iii) any 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 which is equal to the rate then applicable to ABR Loans under the relevant Facility plus 2% (x) or, in the case of overdue principalany such other amounts that do not relate to a particular Facility, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise then applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at under the Alternate Base Rate Tranche B Term Facility plus 2.002%), in each case case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (as well after as before judgment). In addition, upon and after the occurrence of an Event of Default, and during the continuation thereof, at the option of the Administrative Agent or at the direction of Required Lenders and with written notice from the Administrative Agent to the Borrower of the exercise of such option or direction (or, in the case of any Event of Default under Section 7(f), immediately and automatically upon the occurrence of any such Event of Default without the requirement of any affirmative action by any party), the Obligations 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 Section plus two (2.00%) percent per annum.
(d) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to clause paragraph (c) of this Section 4.1 shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
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Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day that so long as it is outstanding and unpaid at a the rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such daySpecified Percentage. Notwithstanding anything to the contrary contained herein, including, without limitation Section 2.4 hereof, the Borrower agrees that it shall not be permitted to request that Loans bear interest determined by reference to the Eurodollar Base Rate.
(cb) If all or a portion During the continuance of an Event of Default, (i) the principal amount of any Term Loan, (ii) any and interest payable thereon or (iii) any other amount payable hereunder shall not be paid when due (whether at on the stated maturity, by acceleration or otherwise), such overdue amount Loans shall bear interest at a rate per annum (the "Default Rate") which is equal to (xA) in the case of overdue principaluntil December 31, 1999, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00PLUS two percent (2%, (y) in the case of overdue interest, the rate that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (zB) in the case of other amountsat all times thereafter, the rate described in clause seven percent (b7%) of this Section 4.1 for ABR Loans accruing interest at above the Alternate Base Rate plus 2.00%, as in each case effect from time to time and (ii) the date of such nonpayment until such amount is paid in full (as well after as before judgment)rate at which L/C Fees are determined shall be calculated at the Default Rate.
(dc) Interest shall be payable in arrears on each Interest Payment Date; PROVIDED, provided that HOWEVER, interest accruing at the Default Rate pursuant to clause (csubsection 2.3(b) of this Section 4.1 shall be payable on receipt of written demand; PROVIDED, FURTHER, interest in excess of two percent (2%) per annum above the Alternate Base Rate as in effect from time to time on demandshall be deferred until the Specified Date.
(ed) It In the event the total amount of any payment of principal or interest or amounts due in respect of any Reimbursement Obligation or of any fee required to be paid under this Agreement is not received by the intention Agent or the Issuing Bank, as the case may be, within ten (10) days following the due date of such payment, the Borrower shall, in addition to and together with such payment, pay to the Agent or the Issuing Bank, as the case may be, a late charge equal to five percent (5%) of the parties hereto total amount of such payment or amount due; PROVIDED, such late charge shall not be payable in respect of any overdue payment in the event the Borrower was entitled to comply strictly with applicable usury laws; accordinglyan advance in the amount of such payment under the provisions of subsection 2.1 at the time such payment became due, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, Borrower duly requested such advance in connection compliance with the indebtedness evidenced by requirements of this Agreement Agreement, and the Banks failed to provide such advance without cause; PROVIDED, FURTHER, such late charge shall not be payable prior to the Specified Date in respect of any deferred interest payment pursuant to subsection 2.3(c). The Borrower authorizes the Agent to debit any of the accounts of the Borrower or its Subsidiaries at or assigned to the Agent on or after the due date of any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, such payment and a late charge shall never exceed under any circumstance whatsoever not be payable to the maximum amount of interest allowed by applicable usury lawsextent the balances in such accounts are sufficient on the due date to meet such payment."
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Interest Rates and Payment Dates. (a) Each Eurodollar Subject to the further provisions of this Agreement, including, without limitation, Sections 3.1(b), 3.6 and 3.7, each Loan shall bear interest for each day during each the Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBOR Rate determined for such day Interest Period plus the Applicable Margin in effect for such daySpread.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to During the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount continuance of any Term LoanEvent of Default, (ii) Borrower shall pay interest on any interest payable thereon or (iii) principal of any 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 Loan outstanding at a rate per annum which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, 3 plus 2.00five percent (5.0%, ) (ythe “Default Rate”).
(c) in the case of overdue interest, the rate that would be otherwise applicable to If any principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause the payment due on the Maturity Date), or interest due under the Loan Documents is not paid by Borrower on the date on which it is due (xor if the principal payment due on the Maturity Date or any other sum is not paid within five (5) above) plus 2.00% and days after the date on which it is due), Borrower shall pay to the Administrative Agent upon demand an amount equal to the lesser of five percent (z) in the case of other amounts, the rate described in clause (b5%) of this Section 4.1 such unpaid sum or the maximum amount permitted by applicable law in order to defray the expense incurred by the Administrative Agent in handling and processing such delinquent payment and to compensate the Administrative Agent for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%, in each case from loss of the date use of such nonpayment until delinquent payment. Any such amount is paid in full (as well after as before judgment)shall be secured by the Security Documents and the other Loan Documents.
(d) Interest shall be payable in arrears on each Interest Payment Date and on the Revolving Credit Termination Date; provided that the Administrative Agent may, provided in its sole discretion, require accrued interest to be paid simultaneously with any prepayment of principal made by Borrower on account of any of the Loans outstanding; and provided, further, that interest accruing pursuant to clause (cSection 3.1(b) of this Section 4.1 shall accrue daily and shall be payable from time to time on demand.
(e) It is the intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury laws.
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Samples: Revolving Credit Loan and Security Agreement (Ashford Hospitality Trust Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan The Loans outstanding hereunder from time to time shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to either (i) with respect to a Eurodollar Loan, the Adjusted LIBOR Eurodollar Rate determined for such day the applicable Interest Period plus the Applicable Margin Percentage or (ii) with respect to an ABR Loan, the ABR, as selected by the Borrower at the Lessee's direction in effect for accordance with the provisions hereof; provided, however, (A) the Loans of the Lender shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 2.9(c), (B) the Loans shall bear interest at the ABR applicable from time to time from and after the dates and during the periods specified in Section 11.3(f) of the Participation Agreement and (C) in such dayother circumstances as expressly provided herein, the Loans shall bear interest at the ABR.
(b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Term Loan, (ii) any interest payable thereon or (iii) any 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 which is the lesser of (x) in the case then current rate of overdue principal, the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, interest respecting such payment plus 2.00two percent (2%, ) and (y) in the case of overdue interest, the highest interest rate that would be otherwise permitted by applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of other amounts, the rate described in clause (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%law, in each case from the date of such nonpayment non-payment until such amount is paid in full (as well whether after as or before judgment). All such amounts referenced in this Section 2.8(b) shall be paid upon demand.
(dc) Interest shall be payable in arrears on each the applicable Scheduled Interest Payment DateDate (but for any Loan having an Interest Period of six (6) months, provided interest shall be payable in arrears on each applicable three (3) month anniversary date of the commencement of such Loan), provided, that (i) interest accruing pursuant to clause paragraph (cb) of this Section 4.1 2.8 shall be payable from time to time on demand.
demand and (eii) It is the intention each prepayment of the parties hereto Loans shall be accompanied by accrued interest to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate date of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with such prepayment on the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsprepaid.
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Interest Rates and Payment Dates. (a%3) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto on the unpaid principal amount thereof at a rate per annum equal to the Adjusted LIBOR Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(ba) Each ABR Loan Loans shall bear interest for each day that it is outstanding the period from and including the date thereof until maturity thereof on the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(cb) If Upon the occurrence of an Event of Default under Section 9(f) or, at the election of the Required Lenders, if all or a portion of (i) the principal amount of any Term Loan, of the Loans or (ii) any interest payable thereon or (iii) any fees or other amount payable hereunder amounts, shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such any overdue amount under the Loan Documents shall (to the extent otherwise bearing interest hereunder), without limiting the rights of the Lenders under Section 9, bear interest at a rate per annum which is (x) in the case of overdue principal, 2% above the rate that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1, plus 2.00%, or (y) in the case of overdue interest, the rate fees and other amounts that would be otherwise applicable to principal of the related Term Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00bear interest hereunder, 2% and (z) in the case of other amounts, above the rate described in clause paragraph (b) of this Section 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus 2.00%Section, in each case case, from the date of such nonpayment 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 clause paragraph (c) of this Section 4.1 shall be payable from time to time on demand.
(e) It is demand by the intention Administrative Agent made at the request of the parties hereto to comply strictly with applicable usury laws; accordingly, it is stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the maximum amount of interest allowed by applicable usury lawsRequired Lenders.
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