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 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 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 plus 2.00% (the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(a) or (f). (d) Interest shall be payable in arrears on each Interest Payment Date; provided that (x) interest accruing pursuant to Section 2.15(c) 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. 2.16
Appears in 2 contracts
Samples: Credit Agreement (Brilliant Earth Group, Inc.), Credit Agreement (Brilliant Earth Group, Inc.)
Interest Rates and Payment Dates. (a) Each SOFR 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 Base Rate plus the Applicable Margin. (c) If an Event of Default under Section 9.1(a) shall have occurred and be continuing, such overdue amounts shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for in 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 continuance of an Event of Default, at the request case 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 plus 2.00%, (ii) in the case of Reimbursement Obligations, the non-default rate applicable to Base Rate Loans under the Revolving Facility plus 2.00% and (iii) in the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence case of any such other amounts that do not relate to a particular Facility, the non-default rate then applicable to Base Rate Loans under the Revolving Facility plus 2.00%, in each case, from the date of such Event of Default arising under Section 8.1(a) or (f)until such Event of Default is no longer continuing. (d) Interest shall be payable in arrears on each Interest Payment DateDate and as provided in Section 3.11; provided provided, that (x) interest accruing pursuant to clause (c) of this Section 2.15(c) shall be payable from time to time on demand demand. (e) Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable law (the “Maximum Rate”). If any Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by an Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable law, (i) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (ii) exclude voluntary prepayments and the effects thereof, and (yiii) amortize, prorate, allocate, and spread in equal or unequal parts the event total amount of any conversion of any SOFR Loan prior to interest throughout the end contemplated term 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 conversionObligations hereunder. 2.164.6
Appears in 2 contracts
Samples: Credit Agreement (Lantheus Holdings, Inc.), Credit Agreement (Lantheus Holdings, 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 each day during each 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 continuance of an Event of Default, at the request of the Required Lenders, all outstanding Loans, shall bear interest with respect thereto at a rate per annum equal to the rate that would otherwise LIBO Rate determined for such Interest Period (including the first day but excluding the last day of each such period) plus the Applicable Margin, computed on the basis of a 360-day year for actual days elapsed. During the occurrence and continuation of an Event of Default, if all or a portion of (a) the principal amount of any Loan, (b) any interest payable thereon, or (c) any other amount payable hereunder shall not be applicable thereto pursuant paid when due (whether at stated maturity, by acceleration or otherwise), such overdue amount shall bear interest to the foregoing provisions of this Section extent permitted by applicable law at a rate per annum equal to the LIBO Rate for the interest periods determined by the Administrative Agent in its reasonable discretion plus 2.00% (the “Default Rate”); provided that the Default Rate shall apply i) with respect to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(aclause (a) or (fb) above, the relevant Applicable Margin, and with respect to clause (c), the Applicable Margin for Tranche A Loans plus (ii) 2% per annum, in each case from the date of such non-payment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on the last day of each Interest Payment Date; Period, provided that (xa) accrued interest shall be payable upon the prepayment of any Loans as provided in Section 2.05 and (b) interest accruing pursuant to Section 2.15(c) on overdue amounts shall be payable from time to time on demand demand. The Administrative Agent shall as soon as practicable notify the Borrower and (y) the Lenders in writing of each determination of a LIBO Rate and the length of each Interest Period. Each determination of an interest rate by the Administrative Agent pursuant to any provision of this Agreement shall constitute prima facie evidence thereof in the event absence 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. 2.16manifest error.
Appears in 2 contracts
Samples: Loan Agreement (Telefonos De Mexico S a De C V), Loan Agreement (Telefonos De Mexico S a De C V)
Interest Rates and Payment Dates. (a) Each Term SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Term SOFR determined for such day plus the Applicable Margin. (b) Each ABR Loan shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for the Interest Period therefor ABR plus (ii) the Applicable Margin. (bc) Each ABR (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (including any Swingline Loan) whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to (ix) in the ABR plus (ii) the Applicable Margin. (c) During the continuance of an Event of Default, at the request case 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 2.15 plus 2.002% (the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(a) or (f). (d) Interest shall be payable in arrears on each Interest Payment Date; provided that (x) interest accruing pursuant to Section 2.15(c) shall be payable from time to time on demand and (y) in the event case of Reimbursement Obligations, the rate applicable to ABR Loans under the Revolving Facility plus 2%, and (ii) if all or a portion of any conversion interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to ABR Loans under the relevant Facility plus 2% (or, in the case of any SOFR Loan prior such other amounts that do not relate to a particular Facility, the end 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 the Interest Period therefor, accrued interest on such SOFR Loan and any amounts owing pursuant to Section 2.21 non payment until such amount is paid in full (after as well as before judgment); provided that no amount shall be payable pursuant to this Section 2.15(c) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender; provided further no amounts shall accrue pursuant to this Section 2.15(c) on the effective date of any overdue Loan, Reimbursement Obligation, commitment fee or other amount payable to a Defaulting Lender so long as such conversionLender shall be a Defaulting Lender. 2.1663 [[6103614]]
Appears in 1 contract
Samples: Credit Agreement (Booz Allen Hamilton Holding Corp)
Interest Rates and Payment Dates. (a) Each SOFR Loan Eurodollar Loans shall bear interest (calculated on the basis of the actual number of days elapsed over a year of 360 days) for each day during each Interest Period applicable thereto, commencing on (and including) the first day of such In- terest Period to, but excluding, the last day of such Interest Period, on the unpaid principal amount thereof at a rate per annum equal to (i) Adjusted Term SOFR the Euro- dollar Rate determined for the such Interest Period therefor plus (ii) the Applicable Margin. (b) Each ABR Loan (including any Swingline Loan) Alternate Base Rate Loans shall bear interest (calculated on the basis of the actual number of days elapsed over a year of 365 days) for the period from and including the date such Loans are made to, but ex- cluding, the maturity date thereof, or to, but excluding, the conversion date if such Loans are earlier converted into Eurodollar Loans on the un- paid principal amount thereof at a rate per annum equal to (i) the ABR Alternate Base Rate plus (ii) the Applicable Margin. (c) During Upon the occurrence and during the continuance of an Event of Default, the Loans shall, without limiting the rights of the Lenders un- der Section 9, bear interest (which shall be payable on demand) at the request higher of the Required Lenders, all outstanding Loans, shall bear interest at (a) a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 days) equal to the Alternate Base Rate and the Applicable Margin plus 2% and (b) the rate that would otherwise be applicable thereto to such Loan pursuant to this subsection 4.5 and the foregoing provisions of this Section Applicable Margin plus 2.00% (the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(a) or (f)2%. (d) Interest Except as otherwise expressly provided for in this subsec- tion 4.5, interest shall be payable in arrears on each Interest Payment Date; provided that (xa) interest accruing pursuant to Section 2.15(c) shall be payable from time to time on demand and (y) in the event of any conversion of any SOFR Loan prior to for Eurodollar Loans, at the end of the each Interest Period therefor(or, accrued interest on if such SOFR Loan Interest Period is greater than three months, quarterly) and any amounts owing pursuant to Section 2.21 shall be payable on the effective date of such conversionMaturity Date, and (b) for Alter- nate Base Rate Loans, quarterly in arrears and on the Maturity Date. 2.164.6.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each SOFR Loan Eurodollar Loans shall bear interest (calculated on the basis of the actual number of days elapsed over a year of 360 days) for each day during each Interest Period applicable thereto, commencing on (and including) the first day of such In- terest Period to, but excluding, the last day of such Interest Period, on the unpaid principal amount thereof at a rate per annum equal to (i) Adjusted Term SOFR the Euro- dollar Rate determined for the such Interest Period therefor plus (ii) the Applicable Margin. (b) Each ABR Loan (including any Swingline Loan) Alternate Base Rate Loans shall bear interest (calculated on the basis of the actual number of days elapsed over a year of 365 days) for the period from and including the date such Loans are made to, but ex- cluding, the maturity date thereof, or to, but excluding, the conversion date if such Loans are earlier converted into Eurodollar Loans on the un- paid principal amount thereof at a rate per annum equal to (i) the ABR Alternate Base Rate plus (ii) the Applicable Margin. (c) During Upon the occurrence and during the continuance of an Event of Default, at the request of the Required Lenders, all outstanding Loansthe Loans shall, shall with- out limiting the rights of the Lenders under Section 9, bear interest (which shall be payable on demand) at the higher of (a) a rate per annum (computed on the basis of the actual number of days elapsed over a year of 365 days) equal to the Alternate Base Rate and the Applicable Margin plus 2% and (b) the rate that would otherwise be applicable thereto to such Loan pursuant to this sub- section 4.5 and the foregoing provisions of this Section Applicable Margin plus 2.00% (the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(a) or (f)2%. (d) Interest Except as otherwise expressly provided for in this subsec- tion 4.5, interest shall be payable in arrears on each Interest Payment Date; provided that (xa) interest accruing pursuant to Section 2.15(c) shall be payable from time to time on demand and (y) in the event of any conversion of any SOFR Loan prior to for Eurodollar Loans, at the end of the each Interest Period therefor(or, accrued interest on if such SOFR Loan Interest Period is greater than three months, quarterly) and any amounts owing pursuant to Section 2.21 shall be payable on the effective date of such conversionMaturity Date, and (b) for Alter- nate Base Rate Loans, quarterly in arrears and on the Maturity Date. 2.164.6.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each SOFR Loan shall bear interest at a rate per annum equal to the Federal Funds Rate plus the Applicable Margin.
(b) Upon (i) Adjusted Term SOFR for the Interest Period therefor plus occurrence and continuance of any Event of Default specified in Section 7(e) with respect to a Borrower or (ii) notice given by the Applicable Margin. (b) Each ABR Loan (including Administrative Agent or the Required Lenders to the Borrower of any Swingline Loan) other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum equal 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 ABR plus principal amount of any Loan, (ii) the Applicable Margin. any interest payable thereon or (ciii) During the continuance of an Event of Default, any Commitment Fee or other amount payable hereunder shall not be paid when due (whether at the request of the Required Lendersstated maturity, all outstanding Loansby acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate 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 would otherwise be applicable thereto the maximum amount of interest payable on the principal amount of any Loan pursuant to the foregoing provisions of this Section 2.7 shall not exceed the sum of the Federal Funds Rate plus 2.00% the Applicable Margin plus 2%.
(the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(a) or (f). (dc) Interest for the period to, but excluding, each Interest Accrual Date shall be payable in arrears on each the relevant Interest Payment Date; , provided that (x) interest accruing pursuant to the second sentence of paragraph (b) of this Section 2.15(c) 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. 2.16demand.
Appears in 1 contract
Samples: Credit Agreement (Columbia Funds Variable Series Trust II)
Interest Rates and Payment Dates. (a) Each SOFR Eurocurrency 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 the Eurocurrency Rate for the Interest Period therefor such Eurocurrency Loan determined for such day plus (ii) the Applicable Margin. (b) Each ABR Base Rate Loan (including any Swingline LoanDollar Swing Line Loans and Multicurrency Swing Line Loans denominated in United States Dollars) shall bear interest at a rate per annum equal to (i) the ABR Base Rate plus (ii) the Applicable Margin. Each Prime Rate Loan (cincluding Multicurrency Swing Line Loans denominated in Canadian Dollars) 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 Prime Rate plus the Applicable Margin. (c) 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), all outstanding Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that 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 plus 2.00% %, (ii) in the “Default Rate”); provided that case of Reimbursement Obligations, the Default rate applicable to Base Rate shall apply Loans or (with respect to all outstanding Reimbursement Obligations in respect of Letters of Credit denominated in Canadian Dollars) Prime Rate Loans automatically in respect of the applicable Facility plus 2.00%, and without any Required Lender consent therefor upon (iii) in the occurrence case of any Event of Default arising under Section 8.1(a) interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder, at a rate per annum equal to the rate then applicable to Base Rate Loans or (fwith respect to interest payable on any Loan denominated in Canadian Dollars or on any Reimbursement Obligations in respect of Letters of Credit denominated in Canadian Dollars) Prime Rate Loans under the applicable Working Capital Facility plus 2.00%, in each case, from the date of such nonpayment until such amount not paid when due is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date; provided that (x) interest accruing pursuant to Section 2.15(c) 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 Date or on the effective date of such conversion. 2.16applicable
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. Each Term SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to Term SOFR determined for such day plus the Applicable Margin. (b) Each ABR Loan shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for the Interest Period therefor ABR plus (ii) the Applicable Margin. (bc) Each ABR (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (including any Swingline Loanwhether at the stated maturity, by acceleration or otherwise), all outstanding Loans and Reimbursement Obligations (whether or not overdue) shall bear interest at a rate per annum equal to (ix) in the ABR plus (ii) the Applicable Margin. (c) During the continuance of an Event of Default, at the request case 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 plus 2.002% (the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(a) or (f). (d) Interest shall be payable in arrears on each Interest Payment Date; provided that (x) interest accruing pursuant to Section 2.15(c) shall be payable from time to time on demand and (y) in the event case of Reimbursement Obligations, the Applicable Margins (based on the Revolving Percentages of the Revolving Lenders in such Reimbursement Obligations) for ABR Loans under the applicable Revolving Commitments participating in Letters of Credit plus 2%, and (ii) if all or a portion of any conversion interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to ABR Loans of the relevant Class (and, in the case of the amount payable to any Revolving Lender, based on the Applicable Margins then in effect for such Revolving Lender’s Revolving Commitments) plus 2% (or, in the case of any SOFR Loan prior such other amounts that do not relate to a particular Class, the end of rate then applicable to ABR Loans under the Interest Period therefor, accrued interest on such SOFR Loan and any amounts owing pursuant to Section 2.21 shall be payable Revolving Facility (based on the effective date of such conversion. 2.16highest Applicable Margins then in effect for any Revolving - 65-
Appears in 1 contract
Samples: Credit Agreement (Cco Holdings LLC)
Interest Rates and Payment Dates. (a) Each SOFR Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the lesser of (i) the Highest Lawful Rate and (ii) the Eurodollar Rate determined for such day, plus the Applicable Margin in effect for such day. (b) Each ABR Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the lesser of (i) the Highest Lawful Rate and (ii) the ABR for such day, plus the Applicable Margin in effect for such day. (c) (i) If an Event of Default shall occur and be continuing, all Loans and Reimbursement Obligations shall bear interest at a rate per annum which is equal to (ix) Adjusted Term SOFR for in the Interest Period therefor plus case of the Loans, the lesser of (iiA) the Applicable Margin. Highest Lawful Rate and (bB) 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 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 4.1, plus 2.002% and (y) in the “Default Rate”); provided that case of Reimbursement Obligations, at a rate per annum equal to the Default lesser of (A) the Highest Lawful Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon (B) the occurrence of any ABR, plus the Applicable Margin for ABR Loans, plus 2% and (ii) if such Event of Default arising relates to the nonpayment when due (whether at the stated maturity, by acceleration or otherwise) of any interest payable on any Loan or any commitment fee or other amount payable hereunder or under Section 8.1(aany other Loan Document, to the extent permitted by applicable Requirements of Law, such overdue amount shall bear interest at the lesser of (A) or the Highest Lawful Rate and (fB) the ABR, plus the Applicable Margin for ABR Loans, plus 2%, in each case, with respect to clauses (i) and (ii) above, from the date of any such Event of Default until the earliest of (x) the waiver of such Event of Default by the requisite number of Lenders, (y) the cure of such Event of Default to the reasonable satisfaction of the requisite Lenders and (z) the payment in full of the Obligations (as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date; provided , PROVIDED, that (x) interest accruing pursuant to paragraph (c) of this Section 2.15(c) 4.1 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 conversiondemand. 2.164.2
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each SOFR 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. Each Base Rate Loan shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for the Interest Period therefor Base Rate plus (ii) the Applicable Margin. (b) Each ABR Revolving Offshore Loan (including any Swingline Loan) shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Offshore Rate determined for such day plus the Applicable Margin. Each Swing Line Loan shall bear interest at a rate per annum equal to the Base Rate plus the Applicable Margin for Revolving Loans which are Base Rate Loans. Each Fronted Offshore Loan shall bear interest for each day during each Interest Period with respect thereto (or, if there is no Interest Period with respect thereto, for each day such Loan is outstanding), at a rate per annum equal to the Cost of Funds determined for such day. If all or a portion of (i) the ABR plus any principal of any Loan, (ii) the Applicable Margin. any interest payable thereon, (ciii) During the continuance of an Event of Default, any commitment fee or (iv) any other amount payable hereunder shall not be paid when due (whether at the request of the Required Lendersstated maturity, all outstanding Loansby acceleration or otherwise), any such overdue principal, interest, commitment fee or other amount shall bear interest at a rate per annum equal to which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section subsection plus 2.002% or (y) in the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence case of any Event such overdue interest, commitment fee or other amount, (A) the rate described in paragraph (b) of Default arising under Section 8.1(a) this subsection plus 2%, in the case of amounts that are owing in Dollars or (fB) (I) the Cost of Funds determined by the Administrative Agent in respect of the relevant Offshore Currency, plus (II) the Applicable Margin for Revolving Offshore Loans in effect at such time, plus (III) 2%, in the case of amounts owing that are denominated in Offshore Currencies, in each case from the date of such non-payment until such overdue principal, interest, commitment fee or other amount is paid in full (as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date; Date and on the Revolving Credit Termination Date (in the case of Revolving Loans, Swing Line Loans and Fronted Offshore Loans) and the date of the final installment of principal (in the case of Term Loans), provided that (x) interest accruing pursuant to Section 2.15(cparagraph (f) of this subsection 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. 2.16demand.
Appears in 1 contract
Samples: Credit and Guarantee Agreement (Kinetic Concepts Inc /Tx/)
Interest Rates and Payment Dates. Subject to Section 2.16, (a) each EurodollarTerm SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Adjusted LIBO RateTerm SOFR determined for such day plus the Applicable Margin. (b) Each SOFR ABR Loan shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for the Interest Period therefor Alternate Base Rate plus (ii) the Applicable Margin. (bc) Each ABR (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (including any Swingline Loan) whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to (ix) in the ABR plus (ii) the Applicable Margin. (c) During the continuance of an Event of Default, at the request case 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 2.14 plus 2.002% or (y) in the “Default Rate”); provided case of Reimbursement Obligations, the rate applicable to Revolving Loans that the Default Rate shall apply to are ABR Loans plus 2%, and (ii) if all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence or a portion of any Event interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Revolving Loans that are ABR Loans plus 2%, in each case, with respect to clauses (i) and (ii) above, from the date of Default arising under Section 8.1(a) or such non-payment until such amount is paid in full (fas well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date; , provided that (x) interest accruing pursuant to paragraph (c) of this Section 2.15(c) 2.14 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 conversiondemand. 2.162.15
Appears in 1 contract
Interest Rates and Payment Dates. Each Eurodollar Loan (aother than a LIBO Rate CAF 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. Each SOFR ABR Loan shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for the Interest Period therefor ABR plus (ii) the Applicable Margin. (b) Each ABR Swingline Loan (including other than an ABR Loan) shall bear interest at the rate agreed between the Borrower and the Swingline Lender as provided in Section 2.3(a). Each CAF Advance shall bear interest at the rate specified in the CAF Advance Offer accepted by the Borrower in respect thereof as provided pursuant to Section 2.7(b). (i) If all or a portion of the principal amount of any Revolving Loan, Swingline Loan) , Term Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to (ix) in the ABR plus (ii) the Applicable Margin. (c) During the continuance of an Event of Default, at the request case of the Required LendersLoans (other than CAF Advances), 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 plus 2.002% or (y) in the “Default Rate”); provided that case of Reimbursement Obligations, the Default Rate shall apply rate applicable to ABR Loans plus 2%, and (ii) if all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence or a portion of any Event interest payable on any Revolving Loan, Swingline Loan, Term Loan or Reimbursement Obligation or any facility fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to ABR Loans plus 2%, in each case, with respect to clauses (i) and (ii) above, from the date of Default arising under Section 8.1(a) or such non-payment until such amount is paid in full (fas well after as before judgment). Interest in respect of all Swingline Loans (dother than ABR Loans) shall be payable in arrears on the last day of the respective interest period applicable to such Swingline Loan as agreed between the Borrower and the Swingline Lender pursuant to Section 2.3(a). Interest in respect of all CAF Advances shall be payable in arrears on each CAF Advance Interest Payment Date. Interest in respect of all other Loans shall be payable in arrears on each Interest Payment Date; provided that (x) . Notwithstanding the foregoing, interest accruing pursuant to paragraph (e) of this Section 2.15(c) 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. 2.16demand.
Appears in 1 contract
Samples: Credit Agreement (Agl Resources Inc)
Interest Rates and Payment Dates. (a) Subject to Section 2.10(c), Each SOFR Loan shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for the Interest Period therefor plus (ii) the Applicable Margin. (b) Subject to Section 2.10(c), 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 continuance of an Event of Default, at the request of the Required Lenders, all outstanding Loans, Obligations shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2.00% and all Letters of Credit Fees shall accrue at a rate per annum equal to the rate that would otherwise be applicable thereto plus 2.00% (collectively, the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans and Letter of Credit Fees 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 (f)a Specified Event of Default. (d) Interest shall be payable in arrears on each Interest Payment Date; provided that (x) interest accruing pursuant to Section 2.15(c2.10(c) 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 2.16 shall be payable on the effective date of such conversion. 2.162.11
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each SOFR Subject to the provisions of Section 2.9(b), each Loan shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for on the Interest Period therefor plus (ii) outstanding principal amount thereof from 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 continuance of an Event of Default, at the request of the Required Lenders, all outstanding Loans, shall bear interest applicable Borrowing date at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant Applicable Rate. The Borrower shall, by delivering a written notice substantially in the form of Exhibit K (a “Cash/PIK Election Notice”) to the foregoing provisions of this Section plus 2.00% Administrative Agent on or prior to the Cash/PIK Election Date, elect whether interest payments for the applicable interest period shall be paid in cash (such election, the “Default RateCash Option”) or paid in kind and capitalized by increasing the outstanding principal amount of the Loans by the amount of such interest payment (such election, the “PIK Option”); provided that if the Default Rate shall apply Borrower fails to all outstanding Loans automatically and without any Required Lender consent therefor upon deliver a Cash/PIK Election Notice by the occurrence of any Event of Default arising under Section 8.1(a) or (f). (d) Interest Cash/PIK Election Date, the Borrower shall be payable in arrears on each deemed to have elected the PIK Option for the applicable Interest Payment Date; provided that (x) . The Administrative Agent shall promptly notify each Lender of the Borrower’s election. If the Borrower elects the Cash Option, all interest accruing pursuant payments with respect to Section 2.15(c) the Loans for the applicable Fiscal Quarter shall be payable from time paid in cash on the applicable Interest Payment Date in accordance with Section 2.9(c). If the Borrower elects the PIK Option (or is deemed to time on demand and (y) in elect the event of any conversion of any SOFR Loan prior PIK Option), all interest payments with respect to the end Loans for the applicable Fiscal Quarter shall be paid in kind at the Applicable Rate (the amount of such interest paid in kind, together with any interest thereon, collectively, the “PIK Interest”) and capitalized by increasing the outstanding principal amount of the Loans by such amount on the applicable Interest Period thereforPayment Date in accordance with Section 2.9(c). Any capitalized amounts shall thereafter bear interest in accordance with this Section 2.9. With respect to the initial Interest Payment Date following the Closing Date, accrued interest on such SOFR Loan and any amounts owing pursuant to Section 2.21 the Borrower shall be payable on deemed to have elected the effective date of such conversion. 2.16PIK Option.
Appears in 1 contract
Samples: Credit Agreement (Town Sports International Holdings Inc)
Interest Rates and Payment Dates. (a) Each ABR Loan and Swingline Loan shall bear interest at a rate per annum equal to the Daily LIBO RateABR plus the Applicable Margin for ABR Loans. (b) [Reserved].Each (i) Daily Simple SOFR Loan shall bear interest at a rate per annum equal to Adjusted Daily Simple SOFR plus the Applicable Margin for Daily Simple SOFR Loans and (ii) Term SOFR Loan shall bear interest at a rate per annum equal to Adjusted Term SOFR plus the Applicable Margin for Term SOFR Loans. (c) (i) Adjusted Term SOFR for If all or a portion of the Interest Period therefor plus principal amount of any Loan or Reimbursement Obligation shall not be paid when due (ii) whether at the Applicable Margin. stated maturity, by acceleration or otherwise), all outstanding Loans and Reimbursement Obligations (b) Each ABR Loan (including any Swingline Loanwhether or not overdue) shall bear interest at a rate per annum equal to (ix) in the ABR plus (ii) the Applicable Margin. (c) During the continuance of an Event of Default, at the request case 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 plus 2.00% two percent (the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(a2%) or (f). (d) Interest shall be payable in arrears on each Interest Payment Date; provided that (x) interest accruing pursuant to Section 2.15(c) shall be payable from time to time on demand and (y) in the event case of Reimbursement Obligations, the rate applicable to ABR Loans plus two percent (2%), and (ii) if all or a portion of any conversion of interest payable on any SOFR Loan prior or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), after giving effect to any applicable grace period, such overdue amount shall bear interest at a rate per annum equal 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. 2.16rate then applicable to
Appears in 1 contract
Samples: M/I Homes, Inc.
Interest Rates and Payment Dates. (a) Each SOFR Loan Loans shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for the Interest Period therefor Alternate Base Rate plus (ii) the Applicable Margin. (b) Each ABR Loan If on any five Business Days (including whether or not consecutive) occurring in any Swingline calendar month the amount of Revolver Advances outstanding on each such Business Day exceeds the lesser of the Revolver Borrowing Base and the Revolver Facility as in effect for each such Business Day with the permission of the Lender pursuant to Section 3.3(c), then the average daily balance of all Loans outstanding on each day during such month shall bear interest at the rate determined pursuant to clause (a) of this Section 3.1 plus a per annum rate of one-half of one percent (0.50%). (c) If (i) all or a portion of (A) any principal of any Loan, (B) any interest payable thereon, (C) any fee payable hereunder or (D) any other amount payable hereunder shall not be paid when due (whether at the scheduled payment date or stated maturity, or by acceleration or otherwise, but in the case of clauses (B), (C) and (D) after giving effect to any applicable cure or grace period under Section 8(a)), or (ii) an Event of Default not occurring as a result of the failure to pay any such amount when due shall exist and be continuing, then, in each such case, the principal of the Loans and any such overdue interest, fee or other amount shall bear interest at a rate per annum 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 which is the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2.00% 2%, in each case from the date of such non-payment until such overdue principal, interest, fee or other amount is paid in full (the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(a) or (fas well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date; , provided that (x) interest accruing pursuant to paragraph (c) of this Section 2.15(c) shall be payable from time to time on demand and demand. (ye) in the In no event of shall 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. 2.16rates charg
Appears in 1 contract
Samples: Credit Agreement (International Airline Support Group Inc)
Interest Rates and Payment Dates. (a) Each SOFR Eurodollar 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 the Eurodollar Rate determined for the Interest Period therefor such day plus (ii) the Applicable Margin. (b) Each ABR Loan (including other than a Protective Advance) shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin. Each Protective Advance shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin for Revolving Loans that are ABR Loans plus 2%. (c) (i) If all or a portion of the principal amount of any Swingline LoanLoan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), all outstanding Loans and Reimbursement Obligations (whether or not overdue) shall bear interest at a rate per annum equal to (ix) in the ABR plus (ii) the Applicable Margin. (c) During the continuance of an Event of Default, at the request case 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 2.14 plus 2.002% or (y) in the case of Reimbursement Obligations, the rate applicable to ABR Loans under the Revolving Facility plus 2% and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee, Letter of Credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to ABR Loans under the relevant Facility plus 2% (or, in the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence case of any Event such other amounts that do not relate to a particularthe Revolving 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 Default arising under Section 8.1(a) or such non-payment until such amount is paid in full (fafter as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date; provided , provided, that (x) interest accruing pursuant to paragraph (c) of this Section 2.15(c) 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 conversiondemand. 2.162.15
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each SOFR Loan Except as otherwise provided in this Section 2.05, all outstanding DIP Loans shall bear interest 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) each day such DIP Loans shall bear be outstanding and such accrued and unpaid interest at a rate per annum 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 plus 2.00% (the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(a) or (f). (d) Interest thereof shall be payable in arrears on each Interest Payment Date; provided that Date at a rate equal to 8.00% per annum (x) the “PIK Interest Rate”), which interest accruing pursuant to Section 2.15(c) shall be payable from time paid on the applicable Interest Payment Date by adding the accrued and unpaid interest on the DIP Loans to time on demand the principal amount of the outstanding DIP Loans (which shall then accrue interest). Notwithstanding and without duplication of the foregoing, at the Borrowers’ written election (ywhich may be via electronic mail) in to the event of any conversion of any SOFR Loan DIP Agent (such election, a “Cash Election Notice”), not later than noon (New York City time) at least two Business Days prior to the end applicable Interest Payment Date, the Borrowers may elect to pay all (but not less than all) of the Interest Period therefor, accrued and unpaid interest on such SOFR Loan due and any amounts owing pursuant to Section 2.21 shall be payable on the effective DIP Loans on the applicable Interest Payment Date, in cash, at a rate equal to 7.00% per annum (the “Cash Interest Rate” and together with the PIK Interest Rate, the “Interest Rate”); provided, that if the Interest Payment Date shall be the Stated Maturity Date, the Borrowers shall be deemed to have elected to pay all of the accrued and unpaid interest on the aggregate outstanding DIP Loans in cash at the Cash Interest Rate. Upon the occurrence and continuance of an Event of Default, the DIP Loans shall automatically bear interest at a rate per annum that is the rate that would otherwise be applicable thereto plus 2.0% (the “Default Rate”) from the date of such conversion. 2.16non-payment to the date on which such amount is paid in full (after as well as before judgment) in cash; provided, that interest incurred at the Default Rate otherwise due hereunder, notwithstanding anything else contained herein, shall be paid in cash on the applicable Interest Payment Date.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each SOFR 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 (i) Adjusted Term SOFR for the Interest Period therefor ABR plus (ii) the Applicable Margin. (bc) Each ABR (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (including any Swingline Loanwhether at the stated maturity, by acceleration or otherwise), all outstanding Loans and Reimbursement Obligations (whether or not overdue) shall bear interest at a rate per annum equal to (ix) in the ABR plus (ii) the Applicable Margin. (c) During the continuance of an Event of Default, at the request case 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 plus 2.002% or (y) in the case of Reimbursement Obligations, the rate applicable to ABR Loans under the Revolving Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to ABR Loans under the relevant Facility plus 2% (or, in the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence case of any Event 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 Default arising under Section 8.1(a) or such non-payment until such amount is paid in full (fas well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date; , provided that (x) interest accruing pursuant to paragraph (c) of this Section 2.15(c) 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 conversiondemand. 2.162.13
Appears in 1 contract
Samples: Credit Agreement (Gartner Inc)
Interest Rates and Payment Dates. (a) Each EurodollarTerm SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar RateTerm SOFR determined for such day plus the Applicable Margin. Each Term SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to Term SOFR determined for such day plus the Applicable Margin. (b) Each ABR Loan shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for the Interest Period therefor ABR plus (ii) the Applicable Margin. (bc) Each ABR (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (including any Swingline Loanwhether at the stated maturity, by acceleration or otherwise), all outstanding Loans and Reimbursement Obligations (whether or not overdue) shall bear interest at a rate per annum equal to (ix) in the ABR plus (ii) the Applicable Margin. (c) During the continuance of an Event of Default, at the request case 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 plus 2.002% or (y) in the case of Reimbursement Obligations, the Applicable Margins (based on the Revolving Percentages of the Revolving Lenders in such Reimbursement Obligations) for ABR Loans under the applicable Revolving Commitments participating in Letters of Credit plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to ABR Loans of the relevant Class (and, in the case of the amount payable to any Revolving Lender, based on the Applicable Margins then in effect for such Revolving Lender’s Revolving Commitments) plus 2% (or, in the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence case of any Event such other amounts that do not relate to a particular Class, the rate then applicable to ABR Loans under the Revolving Facility (based on the highest Applicable Margins then in effect for any Revolving Commitments) plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of Default arising under Section 8.1(a) or such non-payment until such amount is paid in full (fas well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date; , provided that (x) interest accruing pursuant to paragraph (c) of this Section 2.15(c) 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 conversiondemand. 2.162.13.
Appears in 1 contract
Samples: Credit Agreement (Cco Holdings LLC)
Interest Rates and Payment Dates. (a) Each Term SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to Term SOFR determined for such Interest Period plus the Applicable Margin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for the Interest Period therefor ABR plus (ii) the Applicable Margin. (b) Each ABR Loan (including any ; provided that so long as the Lenders have not been required to purchase participations in Swingline Loan) shall bear interest at a rate per annum equal Loans pursuant to (i) the ABR plus (ii) the Applicable Margin. (c) During the continuance of an Event of DefaultSection 2.8(c), at the request of the Required Lenders, all outstanding Loans, Swingline Loans shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin minus the Commitment Fee Rate.
(i) Each Alternative Currency Daily Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate that would otherwise be applicable thereto pursuant per annum equal to the foregoing provisions of this Section Alternative Currency Daily Rate plus 2.00% the Applicable Margin; (ii) each Alternative Currency Term Rate Loan shall bear interest on the “Default Rate”outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Alternative Currency Term Rate for such Interest Period plus the Applicable Margin.
(d) If any amount payable by the Borrower under any Loan Document is not paid when due (after any applicable grace period); provided that , whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate shall apply to all outstanding Loans automatically and without the fullest extent permitted by Applicable Laws. Furthermore, at any Required Lender consent therefor upon the occurrence of any time an Event of Default arising under Section Sections 8.1(a) or (f). ) exists, the Borrower shall pay interest on the Loans at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by Applicable Laws.
(de) Interest shall be payable in arrears on each Interest Payment Date; provided that (x) interest accruing pursuant to Section 2.15(c3.5(d) 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. 2.16demand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each SOFR 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. Each Base Rate Loan shall bear interest at a rate per annum equal to (i) Adjusted Term SOFR for the Interest Period therefor Base Rate plus (ii) the Applicable Margin. (b) Each ABR Revolving Offshore Loan (including any Swingline Loan) shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Offshore Rate determined for such day plus the Applicable Margin. Each Swing Line Loan shall bear interest at a rate per annum equal to the Base Rate plus the Applicable Margin for Revolving Loans which are Base Rate Loans. Each Fronted Offshore Loan shall bear interest for each day during each Interest Period with respect thereto (or, if there is no Interest Period with respect thereto, for each day such Loan is outstanding), at a rate per annum equal to the Cost of Funds determined for such day. If all or a portion of (i) the ABR plus any principal of any Loan, (ii) the Applicable Margin. any interest payable thereon, (ciii) During the continuance of an Event of Default, any commitment fee or (iv) any other amount payable hereunder shall not be paid when due (whether at the request of the Required Lendersstated maturity, all outstanding Loansby acceleration or otherwise), any such overdue principal, interest, commitment fee or other amount shall bear interest at a rate per annum equal to which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section subsection plus 2.002% or (y) in the “Default Rate”); provided that the Default Rate shall apply to all outstanding Loans automatically and without any Required Lender consent therefor upon the occurrence case of any Event such overdue interest, commitment fee or other amount, (A) the rate described in paragraph (b) of Default arising under Section 8.1(a) this subsection plus 2%, in the case of amounts that are owing in Dollars or (fB) (I) the Cost of Funds determined by the Administrative Agent in respect of the relevant Offshore Currency, plus (II) the Applicable Margin for Revolving Offshore Loans in effect at such time, plus (III) 2%, in the case of amounts owing that are denominated in Offshore Currencies, in each case from the date of such non-payment until such overdue principal, interest, commitment fee or other amount is paid in full (as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date; Date and on the Revolving Credit Termination Date (in the case of Revolving Loans, Swing Line Loans and Fronted Offshore Loans) and the date of the final installment of principal (in the case of Term Loans), provided that (x) interest accruing pursuant to Section 2.15(cparagraph (f) of this subsection 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. 2.16demand.
Appears in 1 contract
Samples: Credit and Guarantee Agreement (Kinetic Concepts Inc /Tx/)