Interest Rates and Payment Dates. (a) Each Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin. (b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any 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 equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%. (c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.7 shall be payable from time to time on demand.
Appears in 6 contracts
Samples: Credit Agreement (Columbia Funds Variable Series Trust II), Credit Agreement (Columbia Funds Variable Series Trust II), Credit Agreement (Wanger Advisors Trust)
Interest Rates and Payment Dates. (a) Each SOFR Loan shall bear interest at a rate per annum equal to Adjusted Term SOFR for the Federal Funds Rate Interest Period therefor plus the Applicable Margin.
(b) Upon Each ABR Loan (iincluding any Swingline Loan) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum which is equal to (i) the ABR plus (ii) the Applicable Margin.
(c) During the continuance of an Event of Default, at the request of the Required Lenders, all outstanding Loans 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 2.7(aplus 2.00% (the “Default Rate”), plus 2%. If ; provided that the Default Rate shall apply to all or a portion of (i) outstanding Loans automatically and without any Required Lender consent therefor upon the principal amount occurrence of any Loan, (iiEvent of Default arising under Section 8.1(a) 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 otherwisef), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that (x) interest accruing pursuant to the second sentence of paragraph (bSection 2.15(c) of this Section 2.7 shall be payable from time to time on demanddemand and (y) in the event of any conversion of any SOFR Loan prior to the end of the Interest Period therefor, accrued interest on such SOFR Loan and any amounts owing pursuant to Section 2.21 shall be payable on the effective date of such conversion.
Appears in 6 contracts
Samples: Credit Agreement (Appian Corp), Credit Agreement (Appian Corp), Credit Agreement (Appian 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 Federal Funds Eurodollar Rate determined for such day plus the Applicable MarginMargin therefor.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each ABR Loan shall bear interest for each day from the Closing Date or applicable Conversion Date, as the case may be, at a rate per annum which is the rate that would otherwise be applicable thereto pursuant equal to the provisions of Section 2.7(a), ABR plus 2%. the Applicable Margin therefor.
(c) If all or a portion of (i) the principal amount of any 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 shall, to the extent permitted by applicable law, bear interest at a rate per annum which is equal to the Federal Funds Rate plus the Applicable Margin rate otherwise applicable thereto plus 2% from the date of such non-payment until to (but excluding) the date on which such amount is paid in full. For full (after as well as before judgment) (or, in the avoidance of doubtevent there is no applicable rate, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum 2.0% per annum in excess of the Federal Funds Rate plus the Applicable Margin plus 2%rate otherwise applicable to ABR Loans from time to time).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demanddemand and on the Maturity Date.
Appears in 5 contracts
Samples: Term Loan Credit Agreement (SOUTHERN CALIFORNIA EDISON Co), Term Loan Credit Agreement (Southern California Edison Co), Term Loan Credit Agreement (Southern California Edison Co)
Interest Rates and Payment Dates. (a) Each Loan Except as provided in Section 2.7(b), the Advances shall bear interest on the unpaid principal amount thereof from and including the date of such Advance to and excluding the date such principal amount shall be paid in full, at a rate per annum equal to the Federal Funds Rate LIBOR for each day during each Interest Period applicable thereto plus the Applicable Margin. Accrued interest on each Advance shall be payable in arrears on each Interest Payment Date.
(b) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the unpaid principal amount of any Loaneach Advance owing to each Lender, payable in arrears on the dates referred to in clause (iia) any interest payable thereon or (iii) any Commitment Fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityabove and on demand, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal at all times to 2% per annum plus (x) the rate per annum required to be paid on such Advance pursuant to clause (a) above, or (y) the rate per annum otherwise applicable to such Advance pursuant to Section 2.9; and (ii) to the Federal Funds Rate plus fullest extent permitted by law, the Applicable Margin plus 2% amount of any interest, fee or other amount payable under the Loan Documents that is not paid when due, from the date of such non-payment amount shall be due until such amount is shall be paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Datedate such amount shall be paid in full and on demand, provided at a rate per annum equal at all times to 2% per annum plus (x) the rate per annum that interest accruing would be required to be paid at such time in respect of any unpaid principal amount of an Advance pursuant to clause (a) above, or (y) the second sentence of paragraph (b) of this rate per annum otherwise determined pursuant to Section 2.7 shall be payable from time to time on demand2.9 and then in effect plus the Applicable Margin.
Appears in 5 contracts
Samples: Tranche D 2 Credit Agreement (Digicel Group LTD), Tranche D 1 Credit Agreement (Digicel Group LTD), Credit Agreement (Digicel 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 (i) the Eurodollar Rate determined for such day plus (ii) the Applicable Margin for Eurodollar Loans.
(b) Each ABR Loan (including any Swingline Loan) shall bear interest at a rate per annum equal to (i) the ABR plus (ii) the Applicable Margin for ABR Loans.
(c) During the continuance of an Event of Default, at the request of the Required Lenders, all overdue payments of principal and interest on outstanding Loans shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum which is the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(aplus 2.00% (the “Default Rate”), plus 2%. If all ; provided that the Default Rate shall apply to such overdue amounts automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(a) or a portion of (if).
(d) Interest on the outstanding principal amount of any 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 equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any each Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that interest accruing pursuant to the second sentence of paragraph (bSection 2.15(c) of this Section 2.7 shall be payable from time to time on demand.
Appears in 4 contracts
Samples: Credit Agreement (Ribbon Communications Inc.), Credit Agreement (Ribbon Communications Inc.), Credit Agreement (Ribbon Communications Inc.)
Interest Rates and Payment Dates. (a) Each RFR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate Daily Simple RFR plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each ABR Loan shall bear interest at a rate per annum which is equal to the ABR plus the Applicable Margin.
(i) If all or a portion of the principal amount of any Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a), plus 2%. If % per annum and (ii) if all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon on any Loan or (iii) any Commitment Fee or other amount fee payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin rate then applicable to ABR Loans plus 2% per annum, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
Appears in 4 contracts
Samples: Revolving Credit Agreement (Ford Motor Co), 364 Day Revolving Credit Agreement (Ford Motor Co), 364 Day Revolving Credit Agreement (Ford Motor Co)
Interest Rates and Payment Dates. (a) Each Loan Except as provided in Section 2.07(b), the Advances shall bear interest on the unpaid principal amount thereof from and including the date of such Advance to and excluding the date such principal amount shall be paid in full, at a rate per annum equal to the Federal Funds Rate 90 Day T&T T-Xxxx for each day during each Interest Period applicable thereto plus the Applicable Margin. Accrued interest on each Advance shall be payable in arrears on each Interest Payment Date.
(b) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the unpaid principal amount of any Loaneach Advance owing to each Lender, payable in arrears on the dates referred to in clause (iia) any interest payable thereon or (iii) any Commitment Fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityabove and on demand, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal at all times to 2% per annum plus (x) the rate per annum required to be paid on or otherwise applicable to such Advance pursuant to clause (a) above; and (ii) to the Federal Funds Rate plus fullest extent permitted by law, the Applicable Margin plus 2% amount of any interest, fee or other amount payable under the Loan Documents that is not paid when due, from the date of such non-payment amount shall be due until such amount is shall be paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Datedate such amount shall be paid in full and on demand, provided at a rate per annum equal at all times to 2% per annum plus (x) the rate per annum that interest accruing would be required to be paid at such time in respect of any unpaid principal amount of an Advance pursuant to clause (a) above, or (y) the rate per annum otherwise determined pursuant to the second sentence of paragraph (b) of this Section 2.7 shall be payable from time to time on demand90 Day T&T T-Xxxx and then in effect plus the Applicable Margin.
Appears in 3 contracts
Samples: Credit Agreement, Credit Agreement (Digicel Group LTD), Tranche F Credit Agreement (Digicel 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 Eurodollar Rate determined for such day plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(b) Upon (i) If all or a portion of the occurrence and continuance principal amount of any Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) or if a Default or Event of Default specified in under Section 7(e8.1(a) with respect to a Borrower or (iif) notice given by has occurred and is continuing, such overdue amount (and, in the Administrative Agent case of a Default or the Required Lenders to the Borrower of any other Event of DefaultDefault under Section 8.1(f), all Loans outstanding to such Borrower Loans) shall bear interest at a rate per annum which is equal to in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a), 2.8 plus 2%. If % and (ii) if all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon or (iii) on any Commitment Fee Loan or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus rate then applicable to ABR Loans under the Applicable Margin relevant Facility plus 2% %, in each case, with respect to clauses (i) and (ii) above, from the date of such non-non payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bSection 2.8(c) of this Section 2.7 shall be payable from time to time on demand.
Appears in 3 contracts
Samples: Credit Agreement, Credit Agreement (TMS International Corp.), Credit Agreement (TMS International Corp.)
Interest Rates and Payment Dates. (a) Each Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance If any principal of or interest on any Event of Default specified in Section 7(e) with respect to a Borrower Loan or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon or (iii) any Commitment Fee fee or other amount payable by the Borrower hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus rate then applicable to the Applicable Margin Loans plus 2% from the date of such non-payment until such amount is paid in full. For full (as well after as before judgment) and (ii) if any Eligible Assets referred to in the avoidance last sentence of doubtSection 2.2(b) are not pledged prior to the close of the DTC free pledge process on the same day as the Pledged Eligible Assets Notice relating to such Eligible Assets, if an Event of Default specified in Section 8 (c)(ii) shall occur and be continuing, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum portion of the Federal Funds Rate plus Borrowing Base A Loans then outstanding not covered by the Applicable Margin Loan Value of the Pledged Eligible Assets shall bear interest at a rate per annum equal to the rate then applicable to the Loans plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.7 shall be payable from time to time on demand.
Appears in 3 contracts
Samples: Credit Agreement (Investment Technology Group, Inc.), Credit Agreement (Investment Technology Group, Inc.), Credit Agreement (Investment Technology Group Inc)
Interest Rates and Payment Dates. (a) Each Revolving Credit Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Revolving Credit Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any Revolving Credit 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 equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Revolving Credit Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.7 shall be payable from time to time on demand.
Appears in 3 contracts
Samples: Credit Agreement (Schroder Series Trust), Credit Agreement (Schroder Capital Funds (Delaware)), Credit Agreement (Schroder Global Series Trust)
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 Eurodollar Rate determined for such day plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon or (iii) any Commitment Fee or other amount payable hereunder Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus rate that would otherwise be applicable thereto pursuant to the Applicable Margin foregoing provisions of this Section plus 2% and (ii) if all or a portion of (x) any interest payable on any Loan or (y) any 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 equal to the rate then applicable to ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to ABR Loans under the Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bSection 2.9(c) of this Section 2.7 shall be payable from time to time on demand.
Appears in 3 contracts
Samples: Amendment No. 3 (JELD-WEN Holding, Inc.), Amendment No. 2 (JELD-WEN Holding, Inc.), Amendment No. 1 (JELD-WEN Holding, 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 Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any 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 foregoing provisions of this Section 2.12 plus 2% or (y) in the case of any overdue interest, Commitment Fee or other amount, equal to the Federal Funds Rate plus the Applicable Margin rate then applicable to ABR Loans plus 2% %, in each case from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (whether before or after judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
Appears in 3 contracts
Samples: Credit Agreement (DreamWorks Animation SKG, Inc.), Credit Agreement (DreamWorks Animation SKG, Inc.), Credit Agreement (DreamWorks Animation SKG, Inc.)
Interest Rates and Payment Dates. (a) Each Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any 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 equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period tothrough, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.7 shall be payable from time to time on demand.
Appears in 3 contracts
Samples: Credit Agreement (Wanger Advisors Trust), Credit Agreement (Columbia Funds Series Trust II), Credit Agreement (Columbia Funds Series Trust I)
Interest Rates and Payment Dates. (a) Each Loan shall bear interest at a rate per annum equal to the Federal Funds Daily LIBO Rate plus the Applicable Margin.
(b) Upon [Reserved].
(i) If all or a portion of the occurrence and continuance principal amount of any Event of Default specified in Section 7(e) with respect to a Borrower Loan or Reimbursement Obligation shall not be paid when due (ii) notice given whether at the stated maturity, by the Administrative Agent acceleration or the Required Lenders to the Borrower of any other Event of Defaultotherwise), all outstanding Loans outstanding to such Borrower and Reimbursement Obligations (whether or not overdue) 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 2.7(aplus two percent (2%) or (y) in the case of Reimbursement Obligations, the rate applicable to Loans plus two percent (2%), plus 2%. If and (ii) if all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon on any Loan or (iii) Reimbursement Obligation or any Commitment Fee commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), after giving effect to any applicable grace period, such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate rate then applicable to Loans plus the Applicable Margin plus two percent (2% %), in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 2.11 shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (M/I Homes, Inc.), Credit Agreement (M/I Homes, Inc.)
Interest Rates and Payment Dates. (a) Each SOFR Loan shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for the Federal Funds Rate Interest Period therefor plus (ii) the Applicable Margin.
(b) Upon Each ABR Loan (iincluding any Swingline Loan) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum which is equal to (i) the ABR plus (ii) the Applicable Margin.
(c) During the continuance of an Event of Default, at the request of the Required Lenders, all outstanding Loans, 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 2.7(aplus 2.00% (the “Default Rate”), plus 2%. If ; provided that the Default Rate shall apply to all or a portion of (i) outstanding Loans automatically and without any Required Lender consent therefor upon the principal amount occurrence of any Loan, (iiEvent of Default arising under Section 8.1(a) 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 otherwisef), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that (x) interest accruing pursuant to the second sentence of paragraph (bSection 2.15(c) of this Section 2.7 shall be payable from time to time on demanddemand and (y) in the event of any conversion of any SOFR Loan prior to the end of the Interest Period therefor, accrued interest on such SOFR Loan and any amounts owing pursuant to Section 2.21 shall be payable on the effective date of such conversion.
Appears in 2 contracts
Samples: Credit Agreement (Brilliant Earth Group, Inc.), Credit Agreement (Brilliant Earth 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 Eurodollar Rate determined for such day plus the Applicable Margin.
(b) Each Base Rate Loan shall bear interest at a rate per annum equal to the Federal Funds Base Rate plus the Applicable Margin.. 36 30
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the any principal amount of any LoanLoan or Reimbursement Obligations, (ii) any interest payable thereon or thereon, (iii) any Commitment Fee commitment fee or (iv) 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 Reimbursement Obligations and any such overdue interest, commitment fee or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal of the Loans, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus the Applicable Margin foregoing provisions of this Section plus 2% and (y) in the case of Reimbursement Obligations, and any overdue interest, commitment fee or other amount, the rate applicable to Tranche A Loans which are Base Rate Loans plus 2%, in each case from the date of such non-payment until such overdue principal, interest, commitment fee or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 2.15 shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (Kirklands Inc), Credit Agreement (Kirklands Inc)
Interest Rates and Payment Dates. (a) Each Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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 section 2.7(a), plus 2%% per annum. If all or a portion of (i) the principal amount of any 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 equal to the Federal Funds Rate plus the Applicable Margin plus 2% per annum from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%% per annum.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (b) of this Section section 2.7 shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (Korea Fund Inc), Credit Agreement (Firstar Funds Inc)
Interest Rates and Payment Dates. (a) Each LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the LIBOR Adjusted Rate determined for such day plus the Applicable Margin.
(b) Each Alternate Base Rate Loan shall bear interest at a rate per annum equal to the Federal Funds Alternate Base Rate plus the Applicable Margin.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each Bid Loan 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), plus 2%. as provided in subsection 2.3.
(d) If all or a portion of (i) the principal amount of any Loan, (ii) Revolving Credit Loan or any interest payable thereon or (iii) any Commitment Fee or other amount payable hereunder on the Loans 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 which is (x) in the case of overdue principal to the Federal Funds Rate plus last day of any Interest Period then applicable thereto, the Applicable Margin rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this subsection plus 2% or (y) otherwise, the rate described in paragraph (b) of this subsection plus 2%, in each case from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(ce) Interest for the period to, but excluding, on each Interest Accrual Date LIBOR Loan and Alternate Base Rate Loan shall be payable in arrears on the relevant each Interest Payment Date, provided in each case that interest accruing pursuant to the second sentence of paragraph (bd) of this Section 2.7 subsection shall be payable from time to time on demand.
Appears in 2 contracts
Samples: 364 Day Facility Credit Agreement (Franklin Resources Inc), 364 Day Facility Credit Agreement (Franklin Resources 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 Eurodollar Rate determined for such day plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(b) Upon (i) If all or a portion of the occurrence and continuance principal amount of any Event of Default specified in Section 7(e) with respect to a Borrower Loan shall not be paid when due (whether at the stated maturity, by acceleration or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Defaultotherwise), all Loans outstanding to such Borrower overdue amount shall bear interest at a rate per annum which is equal to in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a), 2.12 plus 2%. If , and (ii) if all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon on any Loan or (iii) any Commitment Fee commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus rate then applicable to ABR Loans under the Applicable Margin relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to ABR Loans under the Revolving Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 2.12 shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (RE/MAX Holdings, Inc.), Credit Agreement (RE/MAX 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 Eurodollar Rate determined for such day plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds CIBC Alternate Base Rate plus the Applicable Margin.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the any principal amount of any Revolving Credit Loan, (ii) any interest payable thereon or thereon, (iii) any Commitment Fee commitment fee or (iv) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal of the Revolving Credit Loans and any such overdue interest, commitment fee or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus the Applicable Margin foregoing provisions of this subsection plus 2% or (y) in the case of any such overdue interest, commitment fee or other amount, the rate described in paragraph (b) of this subsection plus 2%, in each case from the date of such non-payment until such overdue principal, interest, commitment fee or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided PROVIDED that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 subsection shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (Cole National Corp /De/), Credit Agreement (Cole National 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 Eurodollar Rate determined for such day plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon or (iii) any Commitment Fee or other amount payable hereunder Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus rate that would otherwise be applicable thereto pursuant to the Applicable Margin foregoing provisions of this Section plus 2% and (ii) if all or a portion of (x) any interest payable on any Loan or (y) any 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 equal to the rate then applicable to ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to ABR Loans under the Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bSection 2.9(c) of this Section 2.7 shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Amendment No. 4 (JELD-WEN Holding, Inc.), Amendment No. 5 (JELD-WEN Holding, Inc.)
Interest Rates and Payment Dates. Subject to Section 2.14:
(a) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Alternate Base Rate plus the Applicable Margin.
(b) Each Term Benchmark Loan shall bear interest at a rate per annum equal to the Adjusted Term SOFR Rate for the Interest Period in effect for such Loan plus the Applicable Margin.
(c) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders 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 such 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 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 equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.7 shall be payable from time to time on demand.which is
Appears in 2 contracts
Samples: Credit Agreement, Credit Agreement
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 Federal Funds Eurodollar Rate determined for such Interest Period plus the Applicable MarginMargin in effect on such day.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each ABR Loan shall bear interest for each day at a rate per annum which is the rate that would otherwise be applicable thereto pursuant equal to the provisions of Section 2.7(a), Alternate Base Rate in effect on such day plus 2%. the Applicable Margin in effect on such date.
(c) If all or a portion of (i) the any principal amount of any Loan, (ii) any interest payable thereon or thereon, (iii) any Commitment Fee commitment fee or (iv) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the overdue principal of the Loans and any such overdue interest, commitment fee or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds foregoing provisions of this Section 4.1 plus 2% or (y) in the case of any such overdue interest, commitment fee or other amount, the Alternate Base Rate plus the Applicable Margin in effect on such date plus 2% %, in each case from the date of such non-payment until to but excluding the date such overdue principal, interest, commitment fee or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bSection 4.1(c) of this Section 2.7 shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (EP Energy Corp), Credit Agreement (El Paso Corp/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 Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Each Base Rate Loan shall bear interest at a rate per annum equal to the Federal Funds Base Rate from time to time plus the Applicable Margin.
(bc) Upon (i) Notwithstanding the foregoing, upon the occurrence and during the continuance of any an Event of Default specified in under Section 7(e7.1(a) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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(ab), plus 2%. If all or a portion of (i) at any time after the date on which any principal amount of any Loan, (ii) any interest Loan is due and payable thereon or (iii) any Commitment Fee or other amount payable hereunder shall not be paid when due (whether at on the stated maturitymaturity date therefor, by upon acceleration or otherwise), or after any other monetary Obligation of the Borrower or any other Loan Party shall have become due and payable, and, in each case, for so long as such overdue amount Obligation remains unpaid, the Borrower shall bear pay, but only to the extent permitted by law, interest (after as well as before judgment) on such unpaid overdue amounts at a rate per annum equal to (i) in the Federal Funds Rate plus case of overdue principal on any Loan, the Applicable Margin rate of interest that otherwise would be applicable to such Loan plus 2% from per annum and (ii) in the date case of such non-payment until such amount is paid in full. For the avoidance of doubtoverdue interest, fees, and other monetary Obligations, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant rate then applicable to this Section 2.7 shall not exceed the sum of the Federal Funds Base Rate plus the Applicable Margin Loans plus 2%% per annum.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
(e) The provisions of this Section 2.9 (and the interest rates applicable to various extensions of credit hereunder) shall be subject to modification as expressly provided in Section 2.27 hereof.
Appears in 2 contracts
Samples: Credit Agreement (Micron Technology Inc), Credit Agreement (Micron Technology Inc)
Interest Rates and Payment Dates. (a) Each Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any 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 equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-non- payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.7 shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (Wanger Advisors Trust), Credit Agreement (Columbia Acorn Trust)
Interest Rates and Payment Dates. (a) Each Loan shall bear interest at -------------------------------- a rate per annum equal to the Federal Funds Rate plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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 section 2.7(a), plus 2%% per annum. If all or a portion of (i) the principal amount of any 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 equal to the Federal Funds Rate plus the Applicable Margin plus 2% per annum from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%% per annum.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of -------- paragraph (b) of this Section section 2.7 shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (Mercantile Mutual Funds Inc), Credit Agreement (Mercantile Mutual Funds Inc)
Interest Rates and Payment Dates. (a) Each Loan Except as provided in Section 2.7(b), the Advances shall bear interest on the unpaid principal amount thereof from and including the date of such Advance to and excluding the date such principal amount shall be paid in full, at a rate per annum equal to the Federal Funds Rate LIBOR for each day during each Interest Period applicable thereto plus the Applicable Margin. Accrued interest on each Advance shall be payable in arrears on each Interest Payment Date.
(b) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the unpaid principal amount of any Loaneach Advance owing to each Lender, payable in arrears on the dates referred to in clause (iia) any interest payable thereon or (iii) any Commitment Fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityabove and on demand, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal at all times to 2% per annum plus (x) the rate per annum required to be paid on or otherwise applicable to such Advance pursuant to clause (a) above, or (y) the rate per annum otherwise applicable to such Advance pursuant to Section 2.9; and (ii) to the Federal Funds Rate plus fullest extent permitted by law, the Applicable Margin plus 2% amount of any interest, fee or other amount payable under the Loan Documents that is not paid when due, from the date of such non-payment amount shall be due until such amount is shall be paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Datedate such amount shall be paid in full and on demand, provided at a rate per annum equal at all times to 2% per annum plus (x) the rate per annum that interest accruing would be required to be paid at such time in respect of any unpaid principal amount of an Advance pursuant to clause (a) above, or (y) the second sentence of paragraph (b) of this rate per annum otherwise determined pursuant to Section 2.7 shall be payable from time to time on demand2.9 and then in effect plus the applicable Margin.
Appears in 2 contracts
Samples: Credit Agreement, Tranche E (Euro) Credit Agreement (Digicel Group LTD)
Interest Rates and Payment Dates. (a) Each Reimbursement Obligation and each Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Federal Funds Rate plus lesser of (i) 18% per annum; and (ii) the Applicable Marginhighest annual rate permitted by applicable law.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon on any Loan or (iii) Reimbursement Obligation or any Commitment Fee commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue interest amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus lesser of (i) 18% per annum; and (ii) the Applicable Margin plus 2% highest annual rate permitted by applicable law, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date Accrued interest hereunder (up to 14% per annum) shall be payable in arrears on the relevant Interest Payment Datequarterly; provided, provided however, that all interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.7, and all interest accruing pursuant to paragraph (a) of this Section 2.7 on principal that is due but unpaid, shall be due and payable from time to time on demanddemand by the Lender.
(d) Accrued interest in excess of 14% per annum shall be paid by capitalizing such interest quarterly in arrears as additional Loans, which additional Loans shall thereafter bear interest in accordance with this Section 2.7 and be payable on the Maturity Date, with or without demand by the Lender.
Appears in 2 contracts
Samples: Reimbursement Agreement (Anc Rental Corp), Reimbursement Agreement (Autonation Inc /Fl)
Interest Rates and Payment Dates. (ai) Each Term Benchmark Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Term SOFR Rate determined for such day plus the Applicable Margin (ii) if available pursuant to Section 2.16, each RFR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate Daily Simple SOFR determined for such day plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each ABR Loan shall bear interest at a rate per annum which is equal to the ABR plus the Applicable Margin.
(i) If all or a portion of the principal amount of any Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a), plus 2%. If , and (ii) if all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon or (iii) on any Commitment Fee Loan or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus rate then applicable to ABR Loans under the Applicable Margin relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to ABR Loans under the Term B Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Term Loan Credit Agreement (TTM Technologies Inc), Term Loan Credit Agreement (TTM 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 Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Each Base Rate Loan shall bear interest at a rate per annum equal to the Federal Funds Base Rate from time to time plus the Applicable Margin.
(bc) Upon (i) Notwithstanding the foregoing, upon the occurrence and during the continuance of any an Event of Default specified in under Section 7(e7.1(a) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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(ab), plus 2%. If all or a portion of (i) at any time after the date on which any principal amount of any Loan, (ii) any interest Term Loan is due and payable thereon or (iii) any Commitment Fee or other amount payable hereunder shall not be paid when due (whether at on the stated maturitymaturity date therefor, by upon acceleration or otherwise), or after any other monetary Obligation of the Borrower or any other Loan Party shall have become due and payable, and, in each case, for so long as such overdue amount Obligation remains unpaid, the Borrower shall bear pay, but only to the extent permitted by law, interest (after as well as before judgment) on such unpaid overdue amounts at a rate per annum equal to (a) in the Federal Funds Rate plus case of overdue principal on any Term Loan, the Applicable Margin rate of interest that otherwise would be applicable to such Term Loan plus 2% from per annum and (b) in the date case of such non-payment until such amount is paid in full. For the avoidance of doubtoverdue interest, fees, and other monetary Obligations, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant rate then applicable to this Section 2.7 shall not exceed the sum of the Federal Funds Base Rate plus the Applicable Margin Loans plus 2%% per annum.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
(e) The provisions of this Section 2.9 (and the interest rates applicable to various extensions of credit hereunder) shall be subject to modification as expressly provided in Section 2.27.
Appears in 2 contracts
Samples: Credit Agreement (Calpine Corp), Credit Agreement (Calpine 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 Eurodollar Rate determined for such day plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon or (iii) any Commitment Fee or other amount payable hereunder Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus rate that would otherwise be applicable thereto pursuant to the Applicable Margin foregoing provisions of this Section plus 2% and (ii) if all or a portion of (x) any interest payable on any Loan or (y) any 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 equal to the rate then applicable to ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to ABR Loans under the Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment non‑payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bSection 2.9(c) of this Section 2.7 shall be payable from time to time on demand.
Appears in 2 contracts
Samples: Credit Agreement (Mueller Water Products, Inc.), Term Loan Credit Agreement (Mueller Water Products, 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 Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Each Base Rate Loan shall bear interest at a rate per annum equal to the Federal Funds Base Rate from time to time plus the Applicable Margin.
(bc) Upon (i) Notwithstanding the foregoing, upon the occurrence and during the continuance of any an Event of Default specified in under Section 7(e7.1(a) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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(ab), plus 2%. If all or a portion of (i) at any time after the date on which any principal amount of any Loan, (ii) any interest Loan is due and payable thereon or (iii) any Commitment Fee or other amount payable hereunder shall not be paid when due (whether at on the stated maturitymaturity date therefor, by upon acceleration or otherwise), or after any other monetary Obligation of the Borrower or any other Loan Party shall have become due and payable, and, in each case, for so long as such overdue amount Obligation remains unpaid, the Borrower shall bear pay, but only to the extent permitted by law, interest (after as well as before judgment) on such unpaid overdue amounts at a rate per annum equal to (i) in the Federal Funds Rate plus case of overdue principal on any Term Loan, the Applicable Margin rate of interest that otherwise would be applicable to such Term Loan plus 2% from per annum and (ii) in the date case of such non-payment until such amount is paid in full. For the avoidance of doubtoverdue interest, fees, and other monetary Obligations, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant rate then applicable to this Section 2.7 shall not exceed the sum of the Federal Funds Base Rate plus the Applicable Margin Loans plus 2%% per annum.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
(e) The provisions of this Section 2.9 (and the interest rates applicable to various extensions of credit hereunder) shall be subject to modification as expressly provided in Section 2.27 hereof.
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 Eurodollar Rate determined for such day plus the Applicable Margin then in effect.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable MarginMargin then in effect.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon or (iii) any Commitment Fee commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus the Applicable Margin foregoing provisions of this subsection plus 2% or (y) in the case of overdue interest, commitment fees or other amounts, the rate described in paragraph (b) of this subsection plus 2%, in each case from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period toExcept as otherwise expressly provided herein, but excluding, each Interest Accrual Date interest shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 subsection shall be payable from time to time on demand.
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 Federal Funds Eurodollar Rate determined for such Interest Period plus the Applicable MarginMargin in effect for such day.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each Base Rate Loan shall bear interest for each day that it is outstanding at a rate per annum which is the rate that would otherwise be applicable thereto pursuant equal to the provisions of Section 2.7(a), Base Rate for such day plus 2%. the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Revolving Credit Loan, (ii) any interest payable thereon or (iii) any Commitment Fee fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus rate that would otherwise be applicable thereto pursuant to the Applicable Margin foregoing provisions of this Section plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubtor, if higher, the parties hereby agree that the maximum amount rate described in paragraph (b) of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 -------- shall be payable from time to time on demand.
Appears in 1 contract
Samples: 364 Day Revolving Credit Agreement (Federal Mogul Corp)
Interest Rates and Payment Dates. (a) Each Subject to the provisions of Section 2.11(d), each Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurocurrency Rate determined for such day plus the Applicable Margin.
(b) Subject to the provisions of Section 2.11(d), each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders Subject to the Borrower provisions of any Section 2.11(d), each Alternative Currency Loan shall be subject to customary adjustments if and to the extent Loans denominated in such Alternative Currencies are customarily priced on a Eurocurrency Base Rate basis plus an additional cost.
(d) Any Loans, Reimbursement Obligations and other Event of Default, all Loans outstanding to such Borrower Obligations under the Loan Documents not paid when due shall bear interest at a rate per annum which is equal to (i) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a)plus 2% or and (ii) in the case of any other Obligation, the rate then applicable to ABR Loans plus 2%. If all or a portion of , in each case, with respect to clauses (i) the principal amount of any Loan, and (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 maturityabove, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (after as well as before judgment).
(ce) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bd) of this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (Lear 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 Eurodollar Rate determined for such day plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the any principal amount of any Revolving Credit Loan, (ii) any interest payable thereon or thereon, (iii) any Commitment Fee commitment fee or (iv) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal of the Revolving Credit Loans and any such overdue interest, commitment fee or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus the Applicable Margin foregoing provisions of this subsection plus 2% or (y) in the case of any such overdue interest, commitment fee or other amount, the rate described in paragraph (b) of this subsection plus 2%, in each case from the date of such non-payment until such overdue principal, interest, commitment fee or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bd) of this Section 2.7 -------- subsection shall be payable from time to time on demand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Daily Simple SOFR Loan shall bear interest at a rate per annum equal to (i) Daily Simple SOFR as determined for such day plus (ii) the Federal Funds Rate SOFR Adjustment plus (iii) the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each ABR Loan shall bear interest at a rate per annum which equal to (i) the ABR plus (with the following amount in no event to be less than zero) plus (ii) the Applicable Margin minus one percent (1%); provided that if the ABR is being used as an alternate rate of interest pursuant to Section 2.8 (for the avoidance of doubt, only until the Benchmark Replacement has been determined pursuant to Section 2.8(b)), then this clause (ii) shall instead be the Applicable Margin (without subtracting 1%).
(c) During the continuance of an Event of Default all outstanding Loans (whether or not overdue) 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 2.7(a), plus 2%. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon on any Loan or (iii) any Commitment Fee commitment fee or other amount payable hereunder (other than any amount to which the preceding sentence is applicable) 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 Federal Funds Rate plus the Applicable Margin rate then applicable to ABR Loans plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Samples: Term Loan Agreement (Bungeltd)
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 Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable MarginABR.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon or (iii) any Commitment Fee fee or other amount payable hereunder pursuant to this Agreement 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 which is (y) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus the Applicable Margin foregoing provisions of this Section 2.10 plus 2% or (z) in the case of overdue interest (to the extent permitted by applicable law), fees or other amounts, the rate described in paragraph (b) of this Section 2.10 plus 2%, in each case from the date of such non-payment until such amount is paid in full. For full (whether before or, to the avoidance of doubtextent permitted by applicable law, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%after judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date; provided, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 2.10 shall be payable from time to time on demand, or, in the absence of demand, weekly on Friday of each week.
Appears in 1 contract
Samples: Revolving Credit Agreement (Globalstar Telecommunications LTD)
Interest Rates and Payment Dates. (a) Each SOFR Loan shall bear interest at a rate per annum equal to the Federal Funds Adjusted Term SOFR Rate for the Interest Period therefor plus the Applicable Margin.
(b) Upon Each ABR Loan (iincluding any Swingline Loan) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum which is equal to the ABR plus the Applicable Margin.
(c) During the existence of an Event of Default, at the request of the Required Lenders, all outstanding Loans 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 2.7(a2.15 plus 2.00% (the “Default Rate”), plus 2%. If ; provided that the Default Rate shall apply to all or a portion of (i) outstanding Loans automatically and without any Required Lender consent therefor upon the principal amount occurrence of any Loan, (iiEvent of Default arising under Section 8.1(a) 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 otherwisef), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that (x) interest accruing pursuant to the second sentence of paragraph (bSection 2.15(c) of this Section 2.7 shall be payable from time to time on demanddemand and (y) in the event of any conversion of any SOFR Loan prior to the end of the Interest Period therefor, accrued interest on such SOFR Loan and any amounts owing pursuant to Section 2.21 shall be payable on the effective date of such conversion.
Appears in 1 contract
Samples: Credit Agreement (Fastly, 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 Federal Funds Eurodollar Rate determined for such day plus the Applicable MarginMargin in effect for such day.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum which is the rate that would otherwise be applicable thereto pursuant equal to the provisions of Section 2.7(a), Base Rate in effect for such day plus 2%. the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Loan, (ii) Loan or the amount of any interest payable thereon Reimbursement Obligation or (iii) the amount of any Commitment Fee or other amount payable obligation hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue unpaid amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (i) in the Federal Funds Rate plus case of the Applicable Margin Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.16 plus 2% or (ii) in the case of Reimbursement Obligations or any other obligations hereunder, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until the date such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (after as well as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest during each Interest Period with respect thereto at a rate per annum equal to the Federal Funds Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Upon Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the occurrence and continuance principal amount of any Event of Default specified in Section 7(eLoan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), all outstanding Loans (whether or not overdue) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower extent legally permitted) shall bear interest at a rate per annum which that is equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a), plus 2%. If , and (ii) if all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon on any Loan or (iii) any Commitment Fee or other amount payable hereunder (excluding principal) 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 Federal Funds rate then applicable to Base Rate plus the Applicable Margin Loans plus 2% %, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (after as well as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Samples: Term Loan Agreement (Primus Telecommunications Group Inc)
Interest Rates and Payment Dates. (a) Each Loan The Loans outstanding hereunder from time to time shall bear interest at a rate per annum equal to either (i) with respect to a Eurodollar Loan, the Federal Funds Eurodollar Rate determined for the applicable Interest Period plus the Applicable MarginPercentage or (ii) with respect to an ABR Loan, the ABR, as selected by the Borrower in 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 of the Participation Agreement, the Loans of such Lender shall bear interest at the ABR from and after the dates and during the periods specified in Section 11.3 of the Participation Agreement and (C) in such other circumstances as expressly provided herein, the Loans shall bear interest at the ABR.
(b) Upon (i) the occurrence and continuance of Interest on any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon or (iii) any Commitment Fee or other amount payable hereunder shall not be paid when past due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant (whether at maturity, upon acceleration, mandatory prepayment or otherwise) shall accrue at a per annum rate equal to this Section 2.7 shall not exceed three percent (3%) above the sum of the Federal Funds Rate plus the Applicable Margin plus 2%Prime Lending Rate.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant applicable Scheduled Interest Payment Date, provided provided, that (i) interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.7 2.8 shall be payable from time to time on demand.be
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each EurodollarSOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (i) the Eurodollar RateTerm SOFR determined for such day plus (ii) the Applicable Margin for EurodollarSOFR Loans.
(b) Each ABR Loan (including any Swingline Loan) shall bear interest at a rate per annum equal to (i) the ABR plus (ii) the Applicable Margin for ABR Loans.
(c) During the continuance of an Event of Default, at the request of the Required Lenders, all overdue payments of principal and interest on outstanding Loans shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum which is the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(aplus 2.00% (the “Default Rate”), plus 2%. If all ; provided that the Default Rate shall apply to such overdue amounts automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(a) or a portion of (if).
(d) Interest on the outstanding principal amount of any 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 equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any each Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that interest accruing pursuant to the second sentence of paragraph (bSection 2.15(c) of this Section 2.7 shall be payable from time to time on demand.
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 Federal Funds Adjusted LIBOR Rate determined for such day plus the Applicable MarginMargin in effect for such day.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum which is the rate that would otherwise be applicable thereto pursuant equal to the provisions of Section 2.7(a), Alternate Base Rate in effect for such day plus 2%. the Applicable Margin in effect for such day.
(c) [Reserved].
(d) If all or a portion of (i) the principal amount of any 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 equal which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds relevant foregoing provisions of this Subsection 4.1, plus 2.00% and (y) in the case of other amounts (including overdue interest), the rate described in clause (b) of this Subsection 4.1 for ABR Loans accruing interest at the Alternate Base Rate plus the Applicable Margin plus 2% 2.00%, in each case from the date of such non-payment nonpayment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (after as well as before judgment).
(ce) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph clause (bd) of this Section 2.7 Subsection 4.1 shall be payable from time to time on demanddemand exercised in accordance with Subsection 9.2.
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 Eurodollar Rate determined for such day plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(b) Upon (i) If all or a portion of the occurrence and continuance principal amount of any Event of Default specified in Section 7(e) with respect to a Borrower Loan shall not be paid when due (whether at the stated maturity, by acceleration or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Defaultotherwise), all Loans outstanding to such Borrower overdue amount shall bear interest at a rate per annum which is equal to in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a), 2.12 plus 2%. If , and (ii) if all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon on any Loan or (iii) any Commitment Fee commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus rate then applicable to ABR Loans under the Applicable Margin relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to ABR Loans under the Revolving Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment non‑payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 2.12 shall be payable from time to time on demand.
Appears in 1 contract
Interest Rates and Payment Dates. (ai) Each If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum that is equal to (x) in the Federal Funds Rate plus case of the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of DefaultLoans, all Loans outstanding to such Borrower shall bear interest at a rate per annum which is the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a)plus 2% or (y) in the case of ---- Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%. If , and (ii) if all or a portion of (i) the principal amount of any Loan, (ii) any ---- interest payable thereon on any Loan or (iii) Reimbursement Obligation or any Commitment Fee commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds rate then applicable to Base Rate plus Loans under the Applicable Margin relevant Facility plus 2% ---- (or, in the case or any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses ---- (i) and (ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (after as well as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of -------- this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the LIBOR Adjusted Rate determined for such day plus the Applicable Margin.
(b) Each Alternate Base Rate Loan shall bear interest at a rate per annum equal to the Federal Funds Alternate Base Rate plus the Applicable Margin.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each Bid Loan 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), plus 2%. as provided in subsection 2.3.
(d) If all or a portion of (i) the principal amount of any Loan, (ii) Revolving Credit Loan or any interest payable thereon or (iii) any Commitment Fee or other amount payable hereunder on the Loans 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 which is (x) in the case of overdue principal to the Federal Funds Rate plus last day of any Interest Period then applicable thereto, the Applicable Margin rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this subsection plus 2% or (y) otherwise, the rate described in paragraph (b) of this subsection plus 2%, in each case from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Samples: Five Year Facility Credit Agreement (Franklin Resources 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 Federal Funds Eurodollar Rate determined for such day plus the Applicable MarginMargin in effect for such day.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum which equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest, to the extent legally permitted, at a rate per annum that 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 2.7(a)plus 2.0%, plus 2%. If and (ii) if all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon on any Loan or (iii) any Commitment Fee commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds rate then applicable to Base Rate Loans under the relevant Facility plus the Applicable Margin plus 2% 2.0%, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (after as well as before judgment) or waived.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
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 Federal Funds applicable Eurodollar Rate plus the Applicable Margindetermined for such Interest Period.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum which is the rate that would otherwise be applicable thereto pursuant equal to the provisions of Section 2.7(a), plus 2%. Base Rate for such day.
(c) If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon or (iii) any Commitment Fee 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 equal to (x) in the Federal Funds Rate plus the Applicable Margin plus 2% from the date case of such non-payment until such amount is paid in full. For the avoidance of doubtprincipal, the parties hereby agree rate that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall would otherwise be payable in arrears on the relevant Interest Payment Date, provided that interest accruing applicable thereto pursuant to the second sentence foregoing provisions of this Section plus 3% per annum or (y) in the case of any such overdue interest, fee or other amount, the rate described in paragraph (b) of this Section 2.7 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 payable from time cured or waived or such notice shall be withdrawn, the outstanding principal amount of all Loans shall bear interest at 3% per annum above the rate that would otherwise be applicable thereto pursuant to time on demandthe foregoing provisions of this Section 3.1 (other than the first sentence of this paragraph (c)).
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable MarginMargin in effect for such day.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the any principal amount of any 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), the principal of the Loans and any such overdue interest, or other amount shall bear interest at a rate per annum equal to which is the Federal Funds Rate plus the Applicable Margin rate described in paragraph (a) of this subsection plus 2% %, in each case from the date of such non-payment until such overdue principal, interest, or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well as after as before judgment).
(c) Interest for the period to, but excluding, on each Interest Accrual Date Loan shall be payable in arrears on the relevant each Interest Payment DateDate and shall accrue from and including the Borrowing Date of such Loan but excluding the date of repayment thereof, provided PROVIDED that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 subsection shall be payable from time to time on demand.
(d) Notwithstanding anything to the contrary contained herein, in no event shall the Borrower be obligated to pay interest in excess of the maximum amount which is chargeable under applicable law.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Loan Except as provided in Section 2.07(b), the Advances shall bear interest on the unpaid principal amount thereof from and including the date of such Advance to and excluding the date such principal amount shall be paid in full, at a rate per annum equal to the Federal Funds Rate LIBOR for each day during each Interest Period applicable thereto plus the Applicable Margin. Accrued interest on each Advance shall be payable in arrears on each Interest Payment Date.
(b) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the unpaid principal amount of any Loaneach Advance owing to each Lender, payable in arrears on the dates referred to in clause (iia) any interest payable thereon or (iii) any Commitment Fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityabove and on demand, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal at all times to 2% per annum plus (x) the rate per annum required to be paid on or otherwise applicable to such Advance pursuant to clause (a) above, or (y) the rate per annum otherwise applicable to such Advance pursuant to Section 2.09; and (ii) to the Federal Funds Rate plus fullest extent permitted by law, the Applicable Margin plus 2% amount of any interest, fee or other amount payable under the Loan Documents that is not paid when due, from the date of such non-payment amount shall be due until such amount is shall be paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Datedate such amount shall be paid in full and on demand, provided at a rate per annum equal at all times to 2% per annum plus (x) the rate per annum that interest accruing would be required to be paid at such time in respect of any unpaid principal amount of an Advance pursuant to clause (a) above, or (y) the second sentence of paragraph (b) of this rate per annum otherwise determined pursuant to Section 2.7 shall be payable from time to time on demand2.09 and then in effect plus the Applicable Margin.
Appears in 1 contract
Samples: Tranche E 1 (Euro) Credit Agreement (Digicel 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 Eurodollar Rate for such day for such Loan.
(b) Each Base Rate Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable MarginBase Rate.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any 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 (subject to applicable grace periods) (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is the lesser of (x) the interest rate applicable to such Loan (or in the Federal Funds Rate plus case of clause (iii) above, the Applicable Margin Base Rate) plus 2% and (y) the highest interest rate permitted by applicable law, in each case from the date of such non-payment until such amount is paid in fullfull (whether after or before judgment). For In addition, if any Lease Event of Default has occurred and is continuing, each outstanding Loan shall bear interest at the avoidance lesser of doubt, (A) the parties hereby agree that the maximum amount of interest payable on the principal amount of any rate applicable to such Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%% or (B) the highest interest rate permitted by applicable law, in each case so long as such Lease Event of Default is continuing.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Scheduled Interest Payment Date, provided that (i) interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 2.5 shall be payable from time to time on demanddemand and (ii) each prepayment of any Loan shall be accompanied by accrued interest to the date of such prepayment on the amount prepaid.
Appears in 1 contract
Samples: Credit Agreement (Tech Data Corp)
Interest Rates and Payment Dates. (a) Each EurodollarTranche Rate 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 Federal Funds EurodollarTranche Rate determined for such Interest Period plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all ABR Loans outstanding to such Borrower shall bear interest for the period from and including the date thereof until maturity thereof on the unpaid principal amount thereof at a rate per annum which is the rate that would otherwise be applicable thereto pursuant equal to the provisions ABR plus the Applicable Margin.
(c) Upon the occurrence of an Event of Default under Section 2.7(a)9(f) or, plus 2%. If at the election of the Required Lenders, if all or a portion of (i) the principal amount of any Loan, of the Loans or (ii) any interest payable thereon or (iii) any Commitment Fee 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 Article IX, bear interest at a rate per annum equal to which is (x) in the Federal Funds Rate plus the Applicable Margin plus case of overdue principal, 2% from above the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree rate that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall would otherwise be payable in arrears on the relevant Interest Payment Date, provided that interest accruing applicable thereto pursuant to the second sentence foregoing provisions of this Section 4.7 or (y) in the case of overdue interest, fees and other amounts that otherwise bear interest hereunder, 2% above the rate described in paragraph (b) of this Section 2.7 4.7, 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 from time in arrears on each Interest Payment Date; provided that interest accruing pursuant to time paragraph (c) of this Section 4.7 shall be payable on demanddemand by the Administrative Agent made at the request of the Required Lenders.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Loan The Loans outstanding hereunder from time to time shall bear interest at a rate per annum equal to either (i) with respect to a Eurodollar Loan, the Federal Funds Eurodollar Rate determined for the applicable Interest Period plus the Applicable MarginPercentage or (ii) with respect to an ABR Loan, the ABR plus the Applicable Percentage, as selected by the Borrower in 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(c) of the Participation Agreement, the Loans of such Lender 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(c) of the Participation Agreement and (C) in such other circumstances as expressly provided herein, the Loans shall bear interest at the ABR.
(b) Upon If (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (iA) the principal amount of any 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 bear interest at ) or (ii) (A) a rate per annum equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.7 shall be payable from time to time on demand.replacement Construction Agent
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Loan Except as provided in Section 2.07(b), the Advances shall bear interest on the unpaid principal amount thereof from and including the date of such Advance to and excluding the date such principal amount shall be paid in full, at a rate per annum equal to the Federal Funds Rate LIBOR for each day during each Interest Period applicable thereto plus the Applicable Margin. Accrued interest on each Advance shall be payable in arrears on each Interest Payment Date.
(b) Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the unpaid principal amount of any Loaneach Advance owing to each Lender, payable in arrears on the dates referred to in clause (iia) any interest payable thereon or (iii) any Commitment Fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityabove and on demand, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal at all times to 2% per annum plus (x) the rate per annum required to be paid on such Advance pursuant to clause (a) above, or (y) the rate per annum otherwise applicable to such Advance pursuant to Section 2.09; and (ii) to the Federal Funds Rate plus fullest extent permitted by law, the Applicable Margin plus 2% amount of any interest, fee or other amount payable under the Loan Documents that is not paid when due, from the date of such non-payment amount shall be due until such amount is shall be paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Datedate such amount shall be paid in full and on demand, provided at a rate per annum equal at all times to 2% per annum plus (x) the rate per annum that interest accruing would be required to be paid at such time in respect of any unpaid principal amount of an Advance pursuant to clause (a) above, or (y) the second sentence of paragraph (b) of this rate per annum otherwise determined pursuant to Section 2.7 shall be payable from time to time on demand2.09 and then in effect plus the applicable Margin.
Appears in 1 contract
Samples: Credit Agreement (Digicel Group LTD)
Interest Rates and Payment Dates. (a) [Reserved].
(b) Each Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable MarginBase Rate.
(bc) Upon If any portion of any Revolving Credit Loan required to be prepaid pursuant to Section 5.6(a) is not so prepaid (any such portion, an “Over Advance”), then (i) the occurrence and continuance so long as such Over Advance has not been so prepaid such Over Advance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Revolving Credit Loan 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), 5.1(b) plus 2%. If % per annum.
(d) Except as otherwise provided in paragraph (c) of this Section, if all or a portion of (i) the any principal amount of any 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), the principal of all Loans and any such overdue interest or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus the Applicable Margin foregoing provisions of this Section plus 2% or (y) in the case of any such overdue interest or other amount, the rate described in paragraph (b) of this Section with respect to Revolving Credit Loans plus 2%, in each case from the date of such non-payment until such overdue principal, interest or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(ce) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bd) of this Section 2.7 and the overadvance fee payable pursuant to paragraph (c)(ii) of this Section shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (Merisel Inc /De/)
Interest Rates and Payment Dates. (a) Each Term SOFR Borrowing shall bear interest at a rate per annum equal to Adjusted Term SOFR for the Interest Period therefor plus the Applicable Margin.
(b) Each ABR Loan (including any Swingline Loan) shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(bc) Upon (i) During the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other an Event of Default, at the request of the Required Lenders, all outstanding Loans outstanding to such Borrower shall bear interest at a rate per annum which is equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a), plus 2%. If all or a portion of (i) the principal amount of any 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 equal to the Federal Funds Rate plus the Applicable Margin plus 2% from (the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree “Default Rate”); provided that the maximum amount of interest payable on Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the principal amount occurrence of any Loan pursuant to this Event of Default arising under Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%7.1(a) or (f).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that (x) interest accruing pursuant to the second sentence of paragraph (bSection 2.15(c) of this Section 2.7 shall be payable from time to time on demanddemand and (y) in the event of any conversion of any SOFR Loan prior to the Interest Payment Date therefor, accrued interest on such SOFR Loan and any amounts owing pursuant to Section 2.21 shall be payable on the effective date of such conversion.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (i) Term SOFR plus (ii) the Applicable Margin for SOFR Loans.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or ABR plus (ii) notice given by the Administrative Agent or Applicable Margin for ABR Loans.
(c) During the Required Lenders to the Borrower continuance of any other an Event of Default, at the request of the Required Lenders, all overdue payments of principal and interest on outstanding Loans outstanding to such Borrower shall bear interest at a rate per annum which is equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a2.15 plus 2.00% per annum (the “Default Rate”), plus 2%. If all ; provided that the Default Rate shall apply to such overdue amounts automatically and without any Required Lender consent therefor upon the occurrence and during the continuance of any Event of Default arising under Section 8.1(a) or a portion of (if).
(d) Interest on the outstanding principal amount of any 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 equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any each Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that interest accruing pursuant to the second sentence of paragraph (bSection 2.15(c) of this Section 2.7 shall be payable from time to time on written demand.
(e) Notwithstanding anything herein to the contrary, it is understood and agreed that interest on the Initial Loans shall commence accruing on July 16, 2024 pursuant to the Pre-Funding Letter.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBO Rate determined for such Interest Period plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable MarginABR.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the any principal amount of any Loan, (ii) any interest payable thereon thereon, or (iiiiiii) any Commitment Fee or 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 any such overdue interest or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus the Applicable Margin foregoing provisions of this subsection plus 2% or (y) in the case of any such overdue interest or other amount, the rate described in paragraph (b) of this subsection plus 2%, in each case from the date of such non-payment until such overdue principal, interest or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan full (as well after as before judgment).
(d) Interest pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date subsection shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 subsection shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (Schein Henry Inc)
Interest Rates and Payment Dates. Subject to Section 2.14:
(a) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Alternate Base Rate plus the Applicable Margin.
(b) Each Term Benchmark Loan shall bear interest at a rate per annum equal to the Adjusted Term SOFR Rate for the Interest Period in effect for such Loan plus the Applicable Margin.
(c) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders 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 such 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 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 equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.7 shall be payable from time to time on demand.which is
Appears in 1 contract
Samples: Credit Agreement
Interest Rates and Payment Dates. (a) Each Term Benchmark Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted Term SOFR Rate determined for such day plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(b) Upon (i) If all or a portion of the occurrence and continuance principal amount of any Event of Default specified in Section 7(e) with respect to a Borrower Loan shall not be paid when due (whether at the stated maturity, by acceleration or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Defaultotherwise), all Loans outstanding to such Borrower overdue amount shall bear interest at a default rate per annum which is equal to, in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a), plus 2%. If , and (ii) if all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon on any Loan or any commitment fee, letter of credit fee, or any other fee payable (iii) excluding any Commitment Fee expenses or other amount payable indemnity) hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a default rate per annum equal to the Federal Funds Rate plus the Applicable Margin rate then applicable to ABR Loans plus 2% %, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bSection 2.11(c) of this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (PG&E Corp)
Interest Rates and Payment Dates. (a) Each EurodollarSOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (i) the Eurodollar Rate determined for such dayAdjusted Term SOFR for the Interest Period therefor plus (ii) the Applicable Margin.
(b) Each ABR Loan (including any Swingline Loan) shall bear interest at a rate per annum equal to (i) the ABR plus (ii) the Applicable Margin.
(c) During the existence of an Event of Default, at the request of the Required Lenders, all outstanding Loans shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum which is the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a2.15 plus 2.00% (the “Default Rate”), plus 2%. If ; provided that the Default Rate shall apply to all or a portion of (i) outstanding Loans automatically and without any Required Lender consent therefor upon the principal amount occurrence of any Loan, (iiEvent of Default arising under Section 8.1(a) 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 otherwisef), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that (x) interest accruing pursuant to the second sentence of paragraph (bSection 2.15(c) of this Section 2.7 shall be payable from time to time on demand. and (y) in the event of any conversion of any SOFR Loan prior to the end of the Interest Period therefor, accrued interest on such SOFR Loan and any amounts owing pursuant to Section 2.21 shall be payable on the effective date of such conversion.
Appears in 1 contract
Samples: Credit Agreement (Yext, 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 Federal Funds Eurodollar Rate determined for such day plus the Applicable MarginMargin in effect for such day.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum which equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest, to the extent legally permitted, at a rate per annum that 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 2.7(a)plus 2.0%, plus 2%. If and (ii) if all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon on any Loan or (iii) any Commitment Fee commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds rate then applicable to Base Rate Loans under the Facility plus the Applicable Margin plus 2% 2.0%, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (after as well as before judgment) or waived.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Loan Advance shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) If the Advance is converted to an ABR Advance pursuant to subsection 3.11 or subsection 3.13, the ABR Advance shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the any principal amount of any LoanAdvance, (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), the principal of the Advances and any such overdue interest or other amount shall bear interest at a the lesser rate per annum equal of (i) eighteen percent (18%) or (ii) the maximum rate of interest that may be lawfully charged with respect to the Federal Funds Rate plus the Applicable Margin plus 2% such principal, interest or other amount, in each case from the date of such non-payment until such overdue principal, interest or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, on each Interest Accrual Date Advance shall be payable in arrears on the relevant each Interest Payment DateDate and shall accrue from and including the Borrowing Date but excluding the date of repayment thereof, provided PROVIDED that interest accruing pursuant to the second sentence of paragraph (bd) of this Section 2.7 subsection shall be payable from time to time on demand.
(e) Notwithstanding anything to the contrary contained herein, in no event shall the Borrowers be obligated to pay interest in excess of the maximum amount which is chargeable under applicable law.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each Eurodollar Loan shall bear interest at a rate per annum which is equal to the rate Eurodollar Rate for the Interest Period in effect for such Loan plus the Applicable Margin.
(c) Interest on the Loans shall be payable in arrears on each Interest Payment Date; provided that would otherwise be applicable thereto interest accruing pursuant to the provisions paragraph (d) of this Section 2.7(a), plus 2%. shall be payable from time to time on demand.
(d) If all or a portion of (i) the principal amount of any 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 equal which is (A) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate foregoing provisions of this Section plus 2.00% or (B) in the Applicable Margin case of overdue interest, Fees or other amounts, the rate described in paragraph (a) of this Section plus 2% 2.00%, in each case from the date of such non-payment until such amount is paid in fullfull (after as well as before judgment). For the avoidance purposes of doubtthis Agreement, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable "overdue" only if not paid in arrears on accordance with the relevant Interest Payment Date, provided that interest accruing pursuant to the second sentence provisions of paragraph (b) of this Section 2.7 shall be payable from time to time on demand2.04 or 2.07.
Appears in 1 contract
Samples: 364 Day Revolving Credit Agreement (General Motors 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 Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Each Base Rate Loan shall bear interest at a rate per annum equal to the Federal Funds Base Rate from time to time plus the Applicable Margin.
(bc) Upon (i) Notwithstanding the foregoing, upon the occurrence and during the continuance of any an Event of Default specified in under Section 7(e7.1(a) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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(ab), plus 2%. If all or a portion of (i) at any time after the date on which any principal amount of any Loan, (ii) any interest Term Loan is due and payable thereon or (iii) any Commitment Fee or other amount payable hereunder shall not be paid when due (whether at on the stated maturitymaturity date therefor, by upon acceleration or otherwise), or after any other monetary Obligation of the Borrower or any other Loan Party shall have become due and payable, and, in each case, for so long as such overdue amount Obligation remains unpaid, the Borrower shall bear pay, but only to the extent permitted by law, interest (after as well as before judgment) on such unpaid overdue amounts at a rate per annum equal to (i) in the Federal Funds Rate plus case of overdue principal on any Term Loan, the Applicable Margin rate of interest that otherwise would be applicable to such Term Loan plus 2% from per annum and (ii) in the date case of such non-payment until such amount is paid in full. For the avoidance of doubtoverdue interest, fees, and other monetary Obligations, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant rate then applicable to this Section 2.7 shall not exceed the sum of the Federal Funds Base Rate plus the Applicable Margin Loans plus 2%% per annum.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (i) Adjusted Term SOFR determined for such day plus (ii) the Applicable Margin.
(b) Each ABR Loan (including any Swingline Loan) shall bear interest at a rate per annum equal to (i) the Federal Funds Rate ABR plus (ii) the Applicable Margin.
(bc) Upon (i) During the occurrence and continuance of any an Event of Default specified in arising under Section 7(e8.1(a) (solely with respect to a Borrower the failure to pay when due of any amount of principal, interest or (iipremium on any Loan, or any amount of fees under any Loan Document) notice given or Section 8.1(f), in each case, automatically and without further action by the Administrative Agent or any Lender, the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any 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 relevant overdue amount Obligations shall bear interest at a rate per annum equal to (a) with respect to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the outstanding principal amount of any Loan not paid when due, the rate that would otherwise be applicable to such Loan pursuant to this Section 2.7 shall 2.13(a) or 2.13(b), plus 2.00% per annum, and (b) with respect to the outstanding amount of interest on any Loan not exceed paid when due, the sum rate that would otherwise be applicable to the Loan to which such overdue amount relates pursuant to Section 2.13(a) or 2.13(b), plus 2.00% per annum, in each case, to the fullest extent permitted by applicable Requirements of Law (the Federal Funds Rate plus the Applicable Margin plus 2%“Default Rate”).
(cd) Interest for on the period to, but excluding, outstanding principal amount of each Interest Accrual Date Loan shall be payable in arrears on the relevant each Interest Payment Date, ; provided that interest accruing pursuant to the second sentence of paragraph (bSection 2.13(c) of this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) [Reserved].
(b) Each Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable MarginBase Rate.
(bc) Upon (i) the occurrence and continuance If any portion of any Event Revolving Credit Loan required to be prepaid pursuant to Section 5.6(a) is not so prepaid (any such portion, an “Over Advance”), then so long as such Over Advance has not been so prepaid such Over Advance of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Revolving Credit Loan 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), 5.1(b) plus 2%. If % per annum.
(d) Except as otherwise provided in paragraph (c) of this Section, if all or a portion of (i) the any principal amount of any 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), the principal of all Loans and any such overdue interest or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus the Applicable Margin foregoing provisions of this Section plus 2% or (y) in the case of any such overdue interest or other amount, the rate described in paragraph (b) of this Section with respect to Revolving Credit Loans plus 2%, in each case from the date of such non-payment until such overdue principal, interest or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(ce) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bd) of this Section 2.7 and the overadvance fee payable pursuant to paragraph (c) of this Section shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (Merisel Inc /De/)
Interest Rates and Payment Dates. (a) Each SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (i) Adjusted Term SOFR for the Interest Period therefor plus (ii) the Applicable Margin.
(b) Each ABR Loan (including any Swingline Loan) shall bear interest at a rate per annum equal to (i) the ABR plus (ii) the Applicable Margin.
(c) During the existence of an Event of Default, at the request of the Required Lenders and from and after the date of written notice from the Administrative Agent to the Borrower, all outstanding Loans shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum which is the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a2.15 plus 2.00% (the “Default Rate”), plus 2%. If ; provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor or a portion of (i) Administrative Agent’s notice during the principal amount existence of any Loan, (iiEvent of Default arising under Section 8.1(a) 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 otherwisef), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that (x) interest accruing pursuant to the second sentence of paragraph (bSection 2.15(c) of this Section 2.7 shall be payable from time to time on demanddemand and (y) in the event of any conversion of any SOFR Loan prior to the end of the Interest Period therefor, accrued interest on such SOFR Loan and any amounts owing pursuant to Section 2.21 shall be payable on the effective date of such conversion.
Appears in 1 contract
Samples: Credit Agreement (AdTheorent Holding Company, Inc.)
Interest Rates and Payment Dates. (a) Each Subject to Section 2.12(c), each SOFR Loan shall bear interest at a rate per annum equal to Adjusted Term SOFR for the Federal Funds Rate Interest Period therefor plus the Applicable Margin.
(b) Upon Subject to Section 2.12(c), each ABR Loan (iincluding any Swingline Loan) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum which is equal to the ABR plus the Applicable Margin.
(c) During the continuance of an Event of Default, at the request of the Administrative Agent (acting at the direction of the Required Lenders), the outstanding principal amount of each Loan, accrued and unpaid interest thereon and any applicable fees, premiums and other outstanding amounts relating to 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 2.7(a)plus 2.00% (or, plus 2%. If all or in the event no rate would otherwise be appliable thereto, a portion of (i) the principal amount of any 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 rate equal to the Federal Funds Rate ABR plus the Applicable Margin applicable to ABR Loans plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt2.00%) (collectively, the parties hereby agree “Default Rate”); provided that the maximum amount of interest payable on Default Rate shall apply to all such amounts automatically and without any Required Lender consent therefor upon the principal amount occurrence and during the continuance of any Loan pursuant to this Specified Event of Default or any Event of Default arising under Section 2.7 shall not exceed 8.1(c) as a result of a default under Sections 6.1, 6.2(a)(ii), 6.2(f) or 7.1 (in the sum cases of the Federal Funds Rate plus the Applicable Margin plus 2%.
(cSection 6.1, 6.2(a)(ii) Interest for the period toand 6.2(f), but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest Payment Date, provided that interest accruing pursuant solely to the second sentence of paragraph (b) of this extent necessary for determining whether the Loan Parties were in compliance with the financial covenants under Section 2.7 shall be payable from time to time on demand7.1).
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to Adjusted Term SOFR for the Interest Period therefor plus the Applicable Margin.
(b) Each ABR Loan (including any Swingline Loan) shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin.
(bc) Upon (i) During the occurrence and continuance existence of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other an Event of Default, at the request of the Required Lenders, all outstanding Loans outstanding to such Borrower shall bear interest at a rate per annum which is equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a2.15 plus 2.00% (the “Default Rate”), plus 2%. If ; provided that the Default Rate shall apply to all or a portion of (i) outstanding Loans automatically and without any Required Lender consent therefor upon the principal amount occurrence of any Loan, (iiEvent of Default arising under Section 8.1(a) 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 otherwisef), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that (x) interest accruing pursuant to the second sentence of paragraph (bSection 2.15(c) of this Section 2.7 shall be payable from time to time on demanddemand and (y) in the event of any conversion of any SOFR Loan prior to the end of the Interest Period therefor, accrued interest on such SOFR Loan and any amounts owing pursuant to Section 2.21 shall be payable on the effective date of such conversion.
Appears in 1 contract
Samples: Credit Agreement (Stitch Fix, Inc.)
Interest Rates and Payment Dates. (a) Each Subject to Section 2.12(c), each SOFR Loan shall bear interest at a rate per annum equal to Adjusted Term SOFR for the Federal Funds Rate Interest Period therefor plus the Applicable Margin.
(b) Upon Subject to Section 2.12(c), each ABR Loan (iincluding any Swingline Loan) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum which is equal to the ABR plus the Applicable Margin.
(c) During the continuance of an Event of Default, at the request of the Administrative Agent (acting at the direction of the Required Lenders), the outstanding principal amount of each Loan, accrued and unpaid interest thereon and any applicable fees, premiums and other outstanding amounts relating to 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 2.7(a)plus 2.00% (or, plus 2%. If all or in the event no rate would otherwise be appliable thereto, a portion of (i) the principal amount of any 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 rate equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.ABR 70 #97570842v91
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that (x) interest accruing pursuant to the second sentence of paragraph (bSection 2.12(c) of this Section 2.7 shall be payable from time to time on demanddemand and (y) in the event of any conversion of any SOFR Loan prior to the end of the Interest Period therefor, accrued interest on such SOFR Loan and any amounts owing pursuant to Section 2.18 shall be payable on the effective date of such conversion.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each RFR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate Daily Simple RFR plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each ABR Loan shall bear interest at a rate per annum which is equal to the ABR plus the Applicable Margin.
(i) (i) If all or a portion of the principal amount of any Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a), plus 2%. If % per annum and (ii) (ii) if all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon on any Loan or (iii) any Commitment Fee or other amount fee payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin rate then applicable to ABR Loans plus 2% per annum, in each case, with respect to clauses (i)(i) and (ii)(ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each ABR Loan shall bear -------------------------------- interest at a rate per annum equal to the Federal Funds ABR.
(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 Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each C/D Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum which is the rate that would otherwise be applicable thereto pursuant equal to the provisions of Section 2.7(a), C/D Rate determined for such day plus 2%. the Applicable Margin.
(d) Each Bid Loan shall bear interest as provided in subsection 2.18.
(e) If all or a portion of (i) the principal amount of any Loan, Loan or (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 equal which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus the Applicable Margin foregoing provisions of this subsection plus 2% or (y) in the case of overdue interest, the rate described in paragraph (a) of this subsection plus 2%, in each case from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cf) Interest for the period to, but excluding, on each Interest Accrual Date Revolving Credit Loan shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of -------- paragraph (be) of this Section 2.7 subsection shall be payable from time to time on demand. Interest on each Bid Loan shall be payable as set forth in the applicable Bid Note.
Appears in 1 contract
Samples: Credit Agreement (First Data 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 Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(b) Each Base Rate Loan shall bear interest at a rate per annum equal to the Federal Funds Base Rate from time to time plus the Applicable Margin.
(bc) Upon (i) Notwithstanding the foregoing, upon the occurrence and during the continuance of any an Event of Default specified in under Section 7(e7.1(a) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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(ab), plus 2%. If all or a portion of (i) at any time after the date on which any principal amount of any Loan, (ii) any interest Loan is due and payable thereon or (iii) any Commitment Fee or other amount payable hereunder shall not be paid when due (whether at on the stated maturitymaturity date therefor, by upon acceleration or otherwise), or after any other monetary Obligation of the Borrower or any other Loan Party shall have become due and payable, and, in each case, for so long as such overdue amount Obligation remains unpaid, the Borrower shall bear pay, but only to the extent permitted by law, interest (after as well as before judgment) on such unpaid overdue amounts at a rate per annum equal to (i) in the Federal Funds Rate plus case of overdue principal on any Loan, the Applicable Margin rate of interest that otherwise would be applicable to such Loan plus 2% from per annum and (ii) in the date case of such non-payment until such amount is paid in full. For the avoidance of doubtoverdue interest, fees, and other monetary Obligations, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant rate then applicable to this Section 2.7 shall not exceed the sum of the Federal Funds Base Rate plus the Applicable Margin Loans plus 2%% per annum.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
(e) The provisions of this Section 2.8 (and the interest rates applicable to various extensions of credit hereunder) shall be subject to modification as expressly provided in Section 2.23 hereof.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each RFR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate Daily Simple RFR plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each ABR Loan shall bear interest at a rate per annum which is equal to the ABR plus the Applicable Margin.
(c) If all or a portion of the principal amount of any Loan shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.7(a), plus 2%. If % per annum and if all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon on any Loan or (iii) any Commitment Fee or other amount fee payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin rate then applicable to ABR Loans plus 2% per annum, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Loan The Loans shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Federal Funds Eurodollar Rate determined for such day plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) any principal of the principal amount of any LoanLoans, (ii) any interest payable thereon thereon, or (iii) any Commitment Fee fee or any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal of the Loan and any such overdue interest, fee or other amount shall bear interest at a rate per annum which is (A) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.6 plus 5% or (B) in the case of any such overdue interest, fee or other amount, at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable Margin plus 2% 5%, in each case from the date of such non-payment until such overdue principal, interest, commitment fee or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant Interest each Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.7 -------- subsection and any interest accrued during a prior Interest Period which has become payable due to a redetermination of the applicable interest rate shall be payable from time to time on demand. The ABR and the Eurodollar Rate for each Interest Period or day within an Interest Period, as the case may be, shall be determined by the Agent, and such determination shall be conclusive absent demonstrable error.
Appears in 1 contract
Samples: Credit Agreement (G&l Realty Corp)
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 Federal Funds Eurodollar Rate determined for such Interest Period plus the Applicable Margin.
(a) ABR Loans shall bear interest for 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 ABR plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any an Event of Default specified in under Section 7(e9(f) with respect to a Borrower or (ii) notice given by or, at the Administrative Agent or election of the Required Lenders to the Borrower of any other Event of DefaultLenders, all Loans outstanding to such 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), plus 2%. If if all or a portion of (i) the principal amount of any Loan, of the Loans or (ii) any interest payable thereon or (iii) any Commitment Fee 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 equal which is (x) in the case of overdue principal, 2% above the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus foregoing provisions of this Section or (y) in the Applicable Margin plus case of overdue interest, fees and other amounts that otherwise bear interest hereunder, 2% above the rate described in paragraph (b) of this Section, in each case, from the date of such non-payment nonpayment until such amount is paid in fullfull (as well after as before judgment). For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.72 AMERICAS 94977503
(c) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demanddemand by the Administrative Agent made at the request of the Required 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 Eurodollar Rate for such day for such Loan.
(b) Each Base Rate Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable MarginBase Rate.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the principal amount of any 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 (subject to applicable grace periods) (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is the lesser of (x) the interest rate applicable to such Loan (or in the Federal Funds Rate plus case of clause (iii) above, the Applicable Margin Base Rate) plus 2% and (y) the highest interest rate permitted by applicable law, in each case from the date of such non-payment until such amount is paid in fullfull (whether after or before judgment). For In addition, if any Lease Event of Default has occurred and is continuing, each outstanding Loan shall bear interest at the avoidance lesser of doubt, (A) the parties hereby agree that the maximum amount of interest payable on the principal amount of any rate applicable to such Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%% or (B) the highest interest rate permitted by applicable law, in each case so long as such Lease Event of Default is continuing.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Scheduled Interest Payment Date, provided that (i) interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 2.8 shall be payable from time to time on demanddemand and (ii) each prepayment of any Loan shall be accompanied by accrued interest to the date of such prepayment on the amount prepaid.
Appears in 1 contract
Samples: Credit Agreement (Tech Data Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar -------------------------------- Loan of each Class shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Federal Funds Eurodollar Rate determined for such Interest Period plus the Applicable MarginMargin for such Class of Loans in effect for such day.
(b) Upon (i) the occurrence and continuance Each Base Rate Loan of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower each Class shall bear interest for each day that it is outstanding at a rate per annum which is the rate that would otherwise be applicable thereto pursuant equal to the provisions Base Rate for such day plus the Applicable Margin for such Class of Section 2.7(a), plus 2%. Loans in effect for such day.
(c) If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable thereon or (iii) any Commitment Fee fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus rate that would otherwise be applicable thereto pursuant to the Applicable Margin foregoing provisions of this Section plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubtor, if higher, the parties hereby agree that the maximum amount rate described in paragraph (b) of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 -------- shall be payable from time to time on demand.
Appears in 1 contract
Samples: Loan Agreement (Federal Mogul Corp)
Interest Rates and Payment Dates. (a) [Reserved.]
(b) Each Revolving Credit Loan shall bear interest at a rate per annum equal to the Federal Funds Base Rate plus the Applicable Margin2.5%.
(bc) Upon (i) the occurrence and continuance If any portion of any Event Revolving Credit Loan required to be prepaid pursuant to Section 5.6(a) is not so prepaid (any such portion, an “Over Advance”), then so long as such Over Advance has not been so prepaid such Over Advance of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Revolving Credit Loan 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), 5.1(b) plus 2%. If % per annum.
(d) Except as otherwise provided in paragraph (c) of this Section, if all or a portion of (i) the any principal amount of any 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), the principal of all Loans and any such overdue interest or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus the Applicable Margin foregoing provisions of this Section plus 2% or (y) in the case of any such overdue interest or other amount, the rate described in paragraph (b) of this Section with respect to Revolving Credit Loans plus 2%, in each case from the date of such non-payment until such overdue principal, interest or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(ce) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bd) of this Section 2.7 and the overadvance fee payable pursuant to paragraph (c) of this Section shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (Merisel 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 Eurodollar Rate determined for such day plus the Applicable Margin.
(b) Each Base Rate Loan shall bear interest at a rate per annum equal to the Federal Funds Base Rate plus the Applicable Margin.
(bc) Upon [Intentionally omitted]
(id) the occurrence and continuance of any Event of Default specified in Section 7(e[Intentionally omitted]
(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) any of the principal amount of any Loan, (ii) any interest payable thereon or (iii) any Commitment Fee commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus the Applicable Margin foregoing provisions of this subsection plus 2% or (y) in the case of overdue interest, commitment fee or other amount, the rate described in paragraph (b) of this subsection plus 2%, in the case of amounts owing that are denominated in Dollars, from the date of such non-payment until such overdue principal, interest, commitment fee or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cf) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date and on the Termination Date, provided that interest accruing pursuant to the second sentence of paragraph (be) of this Section 2.7 subsection shall be payable from time to time on demand.
Appears in 1 contract
Samples: Credit Agreement (Audiovox 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 Federal Funds Eurodollar Rate determined for such day plus the Applicable MarginMargin in effect for such day.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum which is the rate that would otherwise be applicable thereto pursuant equal to the provisions of Section 2.7(a), Base Rate in effect for such day plus 2%. the Applicable Margin in effect for such day.
(c) If all or a portion of (i) the principal amount of any Loan, (ii) Loan or the amount of any interest payable thereon Reimbursement Obligation or (iii) the amount of any Commitment Fee or other amount payable obligation hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue unpaid amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (i) in the Federal Funds Rate plus case of the Applicable Margin Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (ii) in the case of Reimbursement Obligations or any other obligations hereunder, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, in each case, with respect to clauses (i) and (ii) above, from the date of such non-payment until the date such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (after as well as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 shall be payable from time to time on demand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each SOFR Loan shall bear interest at a rate per annum equal to Adjusted Term SOFR for the Federal Funds Rate Interest Period therefor plus the Applicable Margin.
(b) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such Borrower Each ABR Loan shall bear interest at a rate per annum which is equal to (i) the ABR plus (ii) the Applicable Margin.
(c) During the continuance of an Event of Default, at the request of the Required Lenders, all outstanding Loans, 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 2.7(aplus 2.00% (the “Default Rate”), plus 2%. If ; provided that the Default Rate shall apply to all or a portion of (i) outstanding Loans automatically and without any Required Lender consent therefor upon the principal amount occurrence of any Loan, (iiEvent of Default arising under Section 8.1(a) 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 otherwisef), such overdue amount shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin plus 2% from the date of such non-payment until such amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%.
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, ; provided that (x) interest accruing pursuant to the second sentence of paragraph (bSection 2.15(c) of this Section 2.7 shall be payable from time to time on demanddemand and (y) in the event of any conversion of any SOFR Loan prior to the Interest Payment Date therefor, accrued interest on such SOFR Loan and any amounts owing pursuant to Section 2.21 shall be payable on the effective date of such conversion.
Appears in 1 contract
Samples: Credit Agreement (Moneylion 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 Eurodollar Rate determined for such day plus the Applicable Margin with respect thereto.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate ABR plus the Applicable MarginMargin with respect thereto.
(bc) Upon (i) the occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Administrative Agent or the Required Lenders to the Borrower of any other Event of Default, all Loans outstanding to such 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), plus 2%. If all or a portion of (i) the any principal amount of any Loan, (ii) any interest payable thereon or thereon, (iii) any Commitment Fee commitment fee or (iv) 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 any such overdue interest, commitment fee or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the Federal Funds Rate plus the Applicable Margin foregoing provisions of this subsection plus 2% or (y) in the case of any such overdue interest, commitment fee or other amount, the rate described in paragraph (b) of this subsection plus 2%, in each case from the date of such non-payment until such overdue principal, interest, commitment fee or other amount is paid in full. For the avoidance of doubt, the parties hereby agree that the maximum amount of interest payable on the principal amount of any Loan pursuant to this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus the Applicable Margin plus 2%full (as well after as before judgment).
(cd) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on the relevant each Interest Payment Date, provided that interest accruing pursuant to the second sentence of paragraph (bc) of this Section 2.7 -------- subsection shall be payable from time to time on demand.
Appears in 1 contract