INTEREST RATES AND PREPAYMENT Sample Clauses

INTEREST RATES AND PREPAYMENT. Pricing applicable to Facility #2 is as follows: - Prime-based loans: Interest is payable in Canadian dollars at Prime plus % per annum Notwithstanding the foregoing, immediately upon and during the occurrence of an Event of Default or Shortfall, all rates and fees for Facility #2 shall increase by 2.00% per annum and such increase will remain in effect for as long as such Event of Default or Shortfall subsists. In addition to the conditions set forth in this Agreement, the Lender’s obligation to provide any advances under this Agreement will be suspended for so long as there exists an Event of Default or Shortfall. An increase in interest rates and fees as aforesaid shall apply to all outstanding Borrowings. Facility #2 may be prepaid in whole or in part at any time (subject to the notice periods provided in this Agreement) without penalty.
Sample 1
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INTEREST RATES AND PREPAYMENT. (1) FLOATING RATE PRICING BASED ON GRID Pricing applicable to Facility #1 is as follows: - Prime-based loans: Interest is payable in Canadian dollars at Prime plus the Applicable Facility #1 Margin per annum - U.S. Prime-based loans: Interest is payable in U.S. dollars at U.S. Prime plus the Applicable Facility #1 Margin per annum - Letters of Credit: Fee is payable in the currency in which it is issued at the Applicable Facility #1 Margin per annum - Corporate Mastercard: Fees are detailed in the Corporate Mastercard documentation Non-refundable facility fee calculated at a rate equal to the Applicable Facility #1 Margin is payable monthly in Canadian dollars on the last day of each month, calculated daily on the unused portion of the authorized amount of Facility #1. The Applicable Facility #1 Margin shall be equal to the percentage rate per annum set out in the following table opposite the applicable Funded Debt to EBITDA ratio for Borrower at the time of determination: The effective date of any change to the Applicable Facility #1 Margin shall be the first day of the month immediately following the last day of the period for which Borrower is required to deliver financial statements under this Agreement. If financial statements are not delivered as required by this Agreement, the Applicable Facility #1 Margin shall immediately be the highest rate applicable, until such time as such financial statements are delivered and the ratio is re-determined. If the Applicable Facility #1 Margin changes during the term of any Guaranteed Note, the acceptance fee paid shall be adjusted to reflect the Applicable Facility #1 Margin for the remaining term, and the parties shall forthwith make whatever payments are necessary to reflect such adjustment. Facility #1 may be prepaid in whole or in part at any time (subject to the notice periods provided in this Agreement) without penalty.
Sample 1
INTEREST RATES AND PREPAYMENT. The following amendments are made in respect of interest rates and repayment for Facility #1: - Pricing applicable to Facility #1 is as follows: - Prime-based loans: Interest is payable in Canadian dollars at Prime plus 1.75% per annum - Letters of Credit: Fee is 2.00% per annum with a minimum fee of $200.00. - Corporate MasterCard: Fees are detailed in the Corporate MasterCard documentation. - Non-refundable facility fee calculated at a rate of 0.35% per annum is payable monthly in Canadian dollars on the last day of each month, calculated daily on the unused portion of the authorized amount of Facility #1. - Facility #1 may be prepaid in whole or in part at any time (subject to the notice periods provided hereunder in Section 13) without penalty.
Sample 1
INTEREST RATES AND PREPAYMENT. Facility #1: Facility #2: [The Borrower is entitled [at any time] to convert from a Prime-based loan to a fixed-rate loan for a specified term at the rate then offered by Xxxxxx, upon ____ days prior written notice to Xxxxxx. If converted to a fixed rate, no further amendment to or conversion of the rate is permitted. [The Borrower may request indicative fixed rates for terms of 1, 2, 3, 4 or 5 years [revise if necessary] at any time.] Borrower shall pay an administration fee in respect of a conversion equal to ___% of the principal balance converted.] Facility #3: Facility #4: REPAYMENT: Facility #1: Facility #2: Facility #3: [Without affecting Xxxxxx's right to demand payment at any time, Borrower shall reduce the outstanding balance of this Facility to zero after each advance provided under Facility #1.] Facility #4: [Without affecting Xxxxxx's right to demand payment at any time, Borrower shall pay to Lender the face amount of all outstanding Letters of Credit, which shall be held by Xxxxxx as security for Borrower's obligations to Lender in respect thereof, upon Facility #2 being advanced.] FEES: [A fee of $__________ is payable if Borrower elects not to proceed with Facility #2 and secures take-out financing with another financial institution.] [delete if not applicable]
Sample 1
INTEREST RATES AND PREPAYMENT. Pricing applicable to Facility #1 is as follows: - Prime-based loans: Interest is payable in Canadian dollars at Prime plus % per annum - Letters of Credit: Fee is % per annum in respect of Financial Letters of Credit with a minimum fee of $500, payable in the currency in which it is issued. Non- Financial Letters of Credit will be issued at % of the fees applicable to Financial Letters of Credit - Corporate Mastercard: Fees are detailed in the Corporate Mastercard documentation Non-refundable standby fee calculated at a rate of % per annum is payable monthly in Canadian dollars on the last day of each month, calculated daily on the unused portion of the commitment amount of Facility #1. Notwithstanding the foregoing, immediately upon and during the occurrence of an Event of Default or Shortfall, all rates and fees for Facility #1 shall increase by 2.00% per annum and such increase will remain in effect for as long as such Event of Default or Shortfall subsists. In addition to the conditions set forth in this Agreement, the Lender’s obligation to provide any advances under this Agreement will be suspended for so long as there exists an Event of Default or Shortfall. An increase in interest rates and fees as aforesaid shall apply to all outstanding Borrowings. Facility #1 may be prepaid in whole or in part at any time (subject to the notice periods provided in this Agreement) without penalty.
Sample 1
INTEREST RATES AND PREPAYMENT. Facility #1: Facility #2: Facility #3: REPAYMENT: Facility #1: Facility #2: [Without affecting Xxxxxx's right to demand payment at any time, Borrower shall reduce the outstanding balance of this Credit Facility to zero after each advance provided under Facility #1.] Facility #3: [Without affecting Xxxxxx's right to demand payment at any time, Borrower shall pay to Lender the face amount of all outstanding Letters of Credit, which shall be held by Xxxxxx as security for Borrower's obligations to Lender in respect hereof upon Facility #1 being repaid in full and no further advances being permitted thereunder.] [Payments will be derived from the sale of the remaining lots in the Project Lands and will equal ___% of the [Lot List Price/Gross Lot Sales Proceeds/Net Lot Sales Proceeds] of such lots.] FEES:
Sample 1
INTEREST RATES AND PREPAYMENT. (a) Pricing applicable to each Facility is based on the Applicable Margin set forth below: Margin on Canadian Prime Loans 275.0 bps 300.0 bps 275.0 bps 275.0 bps 225.0 bps G/N Stamping Fee n/a n/a n/a n/a 375.0 bps Standby Fees 85.0 bps 95.0 bps 85.0 bps 85.0 n/a Stamping Fees n/a 167.5 bps ($500 minimum) n/a n/a n/a (b) Prime Loans: Interest is payable in Canadian dollars at Prime plus the Applicable Margin. (c) Letters of Credit: fees for non-financial letters of credit will be 66 2/3% of the stamping fees for financial letters of credit (as provided in the table above).
Sample 1
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Related to INTEREST RATES AND PREPAYMENT

  • Repayment and Prepayment (a) Unless a prepayment in full under this Section 2.03 or Section 2.07, has occurred, the Borrower shall repay to the Lender the entire outstanding amount of the Loan on the Final Maturity Date. (b) At any time and from time to time the Borrower may voluntarily prepay any outstanding Loan in whole or in part, but if in part, subject to a minimum prepayment amount of $5,000,000, by sending a notice to the Administrative Agent at least two (2) Business Days prior to the day of such prepayment (an "Early Repayment"), which notice shall state the proposed date and aggregate principal amount of such prepayment. (c) If a Borrower Change of Control or Guarantor Change of Control has occurred and is continuing, the Lender shall give notice thereof to the Borrower, and the Borrower shall within one (1) Business Day prepay in full the then outstanding and unpaid principal amount of the Loan plus any other amounts owing to the Lender under the Loan Documents. (d) If the Liens in the Collateral created under the Collateral Documents cease to be enforceable first priority Liens in favor of the Lender (except to the extent expressly permitted thereunder) ("Unenforceability Event"), the Lender shall give notice thereof to the Borrower, and the Borrower shall on the date of receipt of such notice prepay in full the then outstanding and unpaid principal amount of the Loan plus any other amounts owing to the Lender under the Loan Documents. (e) The Borrower may voluntarily prepay the outstanding Loans in whole at any time without prior notice within thirty (30) days after the occurrence of (i) the Administrative Agent, the Collateral Agent, the Lender or the Custodian failing to maintain its registration in good standing with the New York Department of Financial Services, (ii) the Administrative Agent, the Collateral Agent, the Lender or the Custodian ceasing, or announcing its intention to cease, conducting business in the State of New York or (iii) an Insolvency Event occurs with respect to the Administrative Agent, the Collateral Agent, the Lender or the Custodian. (f) If at any time (whether or not it is a Business Day or within normal business hours) the Actual LTV Ratio is equal to or in excess of the Liquidation LTV, the Administrative Agent may deliver a LTV Breach Notice to the Borrower (which may be by e-mail), with a copy to each party hereto, and, if the Borrower does not deposit sufficient additional Collateral in the Collateral Account within 24 hours after the receipt of such LTV Breach Notice to cause the Actual LTV Ratio, after taking into account such additional Collateral, to be less than or equal to the Initial LTV, the outstanding Loan shall become immediately due and payable in full (whether or not it is a Business Day or within normal business hours) and the Borrower shall immediately prepay the outstanding Loan together with any other amounts owed to the Lender under the Loan Documents. (g) On the first Drawdown Date, the Borrower shall pay to the Lender by way of upfront fee, an amount equal to 0.8% of the Commitment (being US$400,000). Such amount may be netted against and deducted from Loan A and the Lender shall only be obliged to advance the resulting net amount of US$14,600,000 in respect of Loan A. (h) If the Loan is to be repaid or prepaid by the Borrower at any time prior to the Final Maturity Date, any such repayment or prepayment shall be accompanied by payment of accrued interest to the date of such repayment or prepayment on the principal amount repaid or prepaid together with, if applicable pursuant to Section 2.03(i) below, the Early Termination Fee. The parties agree that any Early Termination Fee payable hereunder is intended to compensate the Lender for lost anticipated profits as a result of such early repayment or prepayment and shall not be considered as a penalty. (i) If the Loan is repaid or prepaid by the Borrower at any time prior to the Final Maturity Date other than pursuant to Section 2.03(e), Section 2.03(f) and Section 2.12(d) (including without limitation pursuant to Section 2.03(b), Section 2.03(c), Section 2.03(d) or Section 2.07), the prepayment shall be accompanied by an amount equal to the Early Termination Fee, save where the Borrower gives notice to prepay the Loan in full within 24 hours after the commencement of a Deleveraging Trigger Period in which case no Early Termination Fee shall be payable. (j) If the Loan is prepaid pursuant to Section 2.03(f), no Early Termination Fee shall be payable.

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

  • Payment and Prepayment of the Notes Section 8.1 Required Payment Section 8.2 Optional Prepayments with Make-Whole Amount Section 8.3 Change in Control

  • 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 ABR plus the Applicable Margin. (i) 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 Loans and Reimbursement Obligations (whether or not overdue) shall bear interest at a rate per annum 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 plus 2% 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 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 (as well after as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

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

  • Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate. 5.10.2 In respect of Interest Periods pursuant to Clause 5.3.2 and subject to Clause 5.3.2, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during an Interest Period shall be the Fixed Rate.

  • Optional Prepayment of Loans (a) The Borrower shall have the right to prepay the Loans on not less than three (3) Business Days’ prior written notice to the Senior Facility Agent. (b) Any partial prepayment of the Loans under this Section 4.04 shall be in an amount that is not less than twenty million Dollars ($20,000,000). (c) All prepayments under this Section 4.04 shall be made by the Borrower to the Senior Facility Agent for the account of the Senior Lenders and shall be applied by the Senior Facility Agent in accordance with Section 4.04(d). Each notice of optional prepayment shall indicate whether the Loan being prepaid (i) was used for Gas Working Capital Purposes, General Working Capital Purposes or DSR Purposes and (ii) was a Working Capital Loan, Swing Line Loan or an LC Loan. Each notice of optional prepayment will be irrevocable, except that such notice given by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities and/or the issuance of other debt, in which case such notice may be revoked by the Borrower (by notice to the Senior Facility Agent on or prior to the specified effective date) if such condition is not satisfied. The Borrower shall pay any Break Costs incurred by any Senior Secured Party as a result of such notice and revocation. (d) With respect to each prepayment to be made pursuant to this Section 4.04, on the date specified in the notice of prepayment delivered pursuant to Section 4.04(a), the Borrower shall pay to the Senior Facility Agent the sum of the following amounts: (i) the principal of, and accrued but unpaid interest on, the Loans to be prepaid; (ii) any additional amounts required to be paid under Section 5.05 (Funding Losses); and (iii) any other Obligations due to the respective Senior Lenders in connection with any prepayment under the Financing Documents.

  • Optional Prepayments of Loans The Borrower may prepay Loans, (i) upon at least two Business Days’ notice, in the case of Eurodollar Rate Revolving Loans, and (ii) upon notice not later than 12:00 noon (New York City Time) on the date of prepayment, in the case of Base Rate Revolving Loans, to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and, if such notice is given, the Borrower shall prepay the outstanding principal amount of the Loans comprising part of the same Borrowing in whole or ratably in part, without penalty, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Loan, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

  • Interest Due Without limiting any other rights or remedies available to either Party, each Party shall pay the other interest on any payments that are not paid on or before the date such payments are due under this Agreement at a rate of [*] per annum or the maximum applicable legal rate, if less, calculated on the total number of days payment is delinquent.

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