Common use of Interim Interest Clause in Contracts

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 8 contracts

Samples: Credit Agreement (TRW Automotive Holdings Corp), Credit Agreement (TRW Automotive Holdings Corp), Credit Agreement (TRW Automotive Holdings Corp)

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Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. such Borrower reimburses such L/C Disbursement, (i) if such L/C Disbursement is a Revolving L/C Disbursement made in U.S. Dollars, and at all times following the conversion to U.S. Dollars of a Revolving L/C Disbursement made in an Alternative Currency pursuant to paragraph (e) above, at the rate per annum then applicable to ABR Revolving Loans (in the case of the U.S. Borrower) or Base Rate Loans (in the case of other Borrowers), (ii) if such L/C Disbursement is a Revolving L/C Disbursement made in an Alternative Currency, at all times prior to its conversion to U.S. Dollars pursuant to paragraph (e) above, at the applicable Base Rate plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time (or, in the case of a Revolving L/C Disbursement made in Canadian Dollars, at the Canadian Base Rate plus the Applicable Margin applicable to Canadian Base Rate Loans at such time) and (iii) if such L/C Disbursement is a Tranche C-3 L/C Disbursement, at the rate per annum then applicable to ABR Revolving Term Loans; provided that, in each case, if such L/C Disbursement is not reimbursed by the U.S. applicable Borrower when due pursuant to paragraph (e) (i) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.14(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) (ii) of this Section or from the Tranche C-3 Credit-Linked Deposit of any Tranche C-3 Lender pursuant to paragraph (e)(iii) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender or Tranche C-3 Lender to the extent of such payment.

Appears in 5 contracts

Samples: Incremental Assumption Agreement (Momentive Specialty Chemicals Inc.), Intercreditor Agreement (Hexion Specialty Chemicals, Inc.), Foreign Guarantee Agreement (Hexion Specialty Chemicals, Inc.)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. Borrower applicable Applicant Party shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower applicable Applicant Party reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if in the case of an L/C Disbursement made that is (i) a Euro Letter of Credit, the amount of interest due with respect thereto shall (A) be payable in Euros and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement is not reimbursed by plus the U.S. Borrower when due pursuant Applicable Margin applicable to paragraph Eurocurrency Revolving Loans at such time or (eii) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Alternative Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time time; and (ii) in the case of any L/C Disbursement that is reimbursed after the date provided, further, that, if such L/C Disbursement is required not reimbursed by the applicable Applicant Party when due pursuant to be reimbursed under paragraph (e) of this Section, (Athen Section 2.13(c) be payable in Dollarsshall apply, (B) accrue interest on with the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such rate per annum for L/C Disbursement was made, Disbursements made in respect of such L/C Disbursement, (C) bear interest at a CL Letter of Credit from the date any payment is made to the Issuing Lender on behalf of the CL Lenders shall be 2% in excess of the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyTerm Loans. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender or by or on behalf of any CL Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender or CL Lender, as the case may be, to the extent of such payment.

Appears in 4 contracts

Samples: Credit Agreement (Celanese Corp), Credit Agreement (Celanese Corp), Credit Agreement (Celanese CORP)

Interim Interest. If an Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. relevant Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. such Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Domestic Revolving Loans; provided that, if such L/C Borrower fails to reimburse such LC Disbursement is not reimbursed by the U.S. Borrower (including any interim interest incurred in connection with such LC Disbursement pursuant to this paragraph) when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.15(c) shall apply; provided, further, provided further that, in the case of a L/C an LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in an amount equal to the Dollar Equivalent, calculated using the applicable Foreign Currency Exchange Rate on the date such LC Disbursement is made, of such LC Disbursement and (B) if not reimbursed on the date of such LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C LC Disbursement plus the Applicable Margin Rate applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.15(c). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Domestic Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 4 contracts

Samples: Credit Agreement (SPX Corp), Credit Agreement (SPX Corp), Credit Agreement (SPX Corp)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; , provided that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply; provided, further, provided further that, in the case of a L/C an LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C such LC Disbursement that is reimbursed on or before the date such L/C Disbursement is required permitted to be reimbursed under paragraph (e) of this Sectionand is reimbursed in the relevant Alternative Currency, (A) be payable in the applicable Foreign Alternative Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable such Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Eurodollar Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, otherwise (A) be payable in Dollarsdollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.13(c). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 4 contracts

Samples: Credit Agreement (On Semiconductor Corp), Credit Agreement (On Semiconductor Corp), Credit Agreement (On Semiconductor Corp)

Interim Interest. If an the Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower or any Additional Borrower, as applicable, shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower or such Additional Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving LoansBase Rate Loans pursuant to Section 2.7; provided that, if the Borrower or such L/C Additional Borrower, as applicable, fails to reimburse such LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then the rate applicable to overdue Base Rate Loans pursuant to the last sentence of Section 2.13(d2.7(a) shall apply; provided, further, provided further that, in the case of a L/C any LC Disbursement made under a Foreign Currency Letter of CreditCredit denominated in a Foreign Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the due date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Sectiontherefor, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin per annum then applicable to Eurocurrency Revolving Euro-Currency Loans at such time pursuant to Section 2.7 and (ii) in the case of any L/C LC Disbursement that is reimbursed after the due date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Sectiontherefor, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Base Rate Loans, subject to the last sentence of Section 2.13(d) shall apply2.7(a). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender Bank pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such U.S. Revolving Facility Lender Bank to the extent of such payment.

Appears in 4 contracts

Samples: Credit Agreement (Ingersoll-Rand PLC), Assignment and Assumption Agreement (Ingersoll-Rand PLC), Credit Agreement (Ingersoll-Rand PLC)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. such Borrower reimburses such L/C Disbursement, (i) if such L/C Disbursement is a L/C Disbursement made in U.S. Dollars, and at all times following the conversion to U.S. Dollars of a L/C Disbursement made in an Alternative Currency pursuant to paragraph (e) above, at the rate per annum then applicable to ABR Revolving LoansLoans (in the case of the U.S. Borrower) or Base Rate Loans (in the case of other Borrowers) and (ii) if such L/C Disbursement is a L/C Disbursement made in an Alternative Currency, at all times prior to its conversion to U.S. Dollars pursuant to paragraph (e) above, at the applicable Base Rate plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time (or, in the case of a L/C Disbursement made in Canadian Dollars, at the Canadian Base Rate plus the Applicable Margin applicable to Canadian Base Rate Loans at such time); provided that, in each case, if such L/C Disbursement is not reimbursed by the U.S. applicable Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.14(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 4 contracts

Samples: Asset Based Revolving Credit Agreement (Hexion Inc.), Amendment Agreement (Hexion Inc.), Amendment Agreement (Hexion Inc.)

Interim Interest. If an Issuing Bank the Letter of Credit Issuer shall make any L/C LC Disbursement, then, unless the U.S. US Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. US Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Base Rate Revolving Loans; provided that, if the US Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.14(c) shall apply; provided, further, provided further that, in the case of a L/C any LC Disbursement made under a Foreign Currency Canadian Dollar Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Currency Canadian Dollars and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin per annum then applicable to Eurocurrency Revolving Loans at such time Canadian Prime Rate Loans, subject to Section 2.14(c), and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in US Dollars, (B) accrue interest on the US Dollar Equivalent, determined calculated using the Spot Exchange Rates calculated as of Rate on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Base Rate Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.14(c). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLetter of Credit Issuer, except that interest accrued on and after the date of payment by any U.S. US Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank the Letter of Credit Issuer shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 4 contracts

Samples: Lease Agreement (Compass Minerals International Inc), Lease Agreement (Compass Minerals International Inc), Lease Agreement (Compass Minerals International Inc)

Interim Interest. If an Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. relevant Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. such Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Domestic Revolving Loans; provided that, if such L/C Borrower fails to reimburse such LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.14(c) shall apply; provided, further, provided further that, in the case of a L/C an LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.14(c). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Domestic Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 4 contracts

Samples: Credit Agreement (SPX Corp), Credit Agreement (SPX Corp), Credit Agreement (SPX Corp)

Interim Interest. If an the Issuing Bank shall make any L/C DisbursementLC Disbursement (i) in respect of any Letter of Credit denominated in dollars, then, unless the U.S. Parent Borrower or any applicable Foreign Subsidiary Borrower, as the case may be, shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Parent Borrower or any applicable Foreign Subsidiary Borrower, as the case may be, reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (Dii) in respect of any Letter of Credit denominated in an LC Foreign Currency, then, unless the Parent Borrower or any applicable Foreign Subsidiary Borrower, as the case may be, shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Parent Borrower or any applicable Foreign Subsidiary Borrower, as the case may be, reimburses such LC Disbursement, at the rate per annum then applicable to Foreign Currency Loans in the applicable Foreign Currency with an Interest Period of three months’ duration; provided that, if the Parent Borrower or any applicable Foreign Subsidiary Borrower, as the case may be, fails to reimburse such LC Disbursement when due pursuant to Section 2.13(d2.05(e), then Section 2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (eSection 2.05(e) of this Section to reimburse such the Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 3 contracts

Samples: Credit Agreement (Trimas Corp), Credit Agreement (Trimas Corp), Credit Agreement (Trimas Corp)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. any Borrower or any Additional Borrower, as applicable, shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. such Borrower or such Additional Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving LoansBase Rate Loans pursuant to Section 2.7; provided that, if such L/C Borrower or such Additional Borrower, as applicable, fails to reimburse such LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then the rate applicable to overdue Base Rate Loans pursuant to the last sentence of Section 2.13(d2.7(a) shall apply; provided, further, provided further that, in the case of a L/C any LC Disbursement made under a Foreign Currency Letter of CreditCredit denominated in a Foreign Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the due date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Sectiontherefor, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin per annum then applicable to Eurocurrency Revolving Euro-Currency Loans at such time pursuant to Section 2.7 and (ii) in the case of any L/C LC Disbursement that is reimbursed after the due date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Sectiontherefor, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Base Rate Loans, subject to the last sentence of Section 2.13(d) shall apply2.7(a). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender Bank pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender Bank to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrowers and Additional Borrowers reimburse the applicable LC Disbursement in full.

Appears in 3 contracts

Samples: Credit Agreement (Allegion PLC), Credit Agreement (Allegion PLC), Credit Agreement (Allegion PLC)

Interim Interest. If an any Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; , provided that, that if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph clause (e) of this SectionSection 2.05, then Section 2.13(d2.12(c) shall apply; provided, further, provided further that, in the case of a L/C any LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Eurodollar Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in Dollarsdollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.12(c). Interest accrued pursuant to this paragraph clause shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph clause (e) of this Section 2.05 to reimburse such the Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 3 contracts

Samples: Credit Agreement (Seagate Technology PLC), Credit Agreement (Seagate Technology PLC), Credit Agreement (Seagate Technology PLC)

Interim Interest. If an any Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Co-Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. such Co-Borrower reimburses such L/C LC Disbursement, (i) in respect of LC Disbursements denominated in dollars, at the rate per annum then applicable to Initial Revolving Loans that are ABR Loans (or, to the extent of the participation in such LC Disbursement by any Revolving Loans; provided thatLender of another Class, if the rate per annum then applicable to the Revolving Loans that are ABR Loans of such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph other Class) and (eii) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C LC Disbursement made under a Foreign Currency Letter of Creditdenominated in an Alternative Currency, the amount of interest due with respect thereto shall (iA) in the case of any L/C LC Disbursement that is reimbursed on or before the date such L/C LC Disbursement is required to be reimbursed under paragraph (ef) of this SectionSection 2.05, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably per annum determined by the applicable Issuing Bank (which determination will be conclusive absent manifest error) to be the represent its cost to such Issuing Bank of funding such L/C Disbursement funds plus the Applicable Margin Rate used to determine interest applicable to Eurocurrency Initial Revolving Loans at that are Eurodollar Revolving Loans (or, to the extent of the participation in such time LC Disbursement by any Revolving Lender of another Class, the Applicable Rate used to determine interest applicable to the Revolving Loans that are Eurodollar Revolving Loans of such other Class) (which interest shall be payable in such currency) and (iiB) in the case of any L/C LC Disbursement that is reimbursed after the date such L/C LC Disbursement is required to be reimbursed under paragraph (ef) of this SectionSection 2.05, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Initial Revolving Loans and that are ABR Loans (Dor, to the extent of the participation in such LC Disbursement by any Revolving Lender of another Class, the rate per annum then applicable to the Revolving Loans that are ABR Loans of such other Class) (which interest shall be payable in dollars); provided that, if such Co-Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (f) of this Section 2.13(d2.05, then Section 2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (ef) of this Section 2.05 to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such paymentpayment and shall be payable on demand or, if no demand has been made, on the date on which such Co-Borrower reimburses the applicable LC Disbursement in full.

Appears in 3 contracts

Samples: Credit Agreement (Graftech International LTD), Credit Agreement (Graftech International LTD), Credit Agreement (Graftech International LTD)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. any Borrower or any Additional Borrower, as applicable, shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. such Borrower or such Additional Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving LoansBase Rate Loans pursuant to Section 2.7; provided that, if such L/C Borrower or such Additional Borrower, as applicable, fails to reimburse such LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then the rate applicable to overdue Base Rate Loans pursuant to the last sentence of Section 2.13(d2.7(a) shall apply; provided, further, provided further that, in the case of a L/C any LC Disbursement made under a Foreign Currency Letter of CreditCredit denominated in a Foreign Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the due date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Sectiontherefor, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin per annum then applicable to Eurocurrency Revolving Euro-Currency Loans at such time pursuant to Section 2.7 and (ii) in the case of any L/C LC Disbursement that is reimbursed after the due date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Sectiontherefor, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Base Rate Loans, subject to the last sentence of Section 2.13(d) shall apply2.7(a). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender Bank pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender Bank to the extent of such payment.

Appears in 3 contracts

Samples: Assignment and Assumption Agreement (Trane Technologies PLC), Credit Agreement (Ingersoll-Rand PLC), Credit Agreement (Ingersoll-Rand PLC)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. applicable Borrower reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars, and at all times following the conversion to US Dollars of an LC Disbursement made in another currency pursuant to paragraph (e) of this Section, at the rate per annum then applicable to ABR Revolving Loans; provided that, if the Company fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(e) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall apply and (iii) in the case of any L/C Disbursement that is reimbursed on or before the date if such L/C LC Disbursement is required made in a currency other than US Dollars, at all times prior to be reimbursed under any conversion to US Dollars pursuant to paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement plus the Applicable Margin Rate applicable to Eurocurrency LIBOR Revolving Loans at such time and (ii) in time; provided that, if the case of any L/C applicable Borrower fails to reimburse such LC Disbursement that is reimbursed after the date such L/C Disbursement is required when due pursuant to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.12(e) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, Bank (except that interest accrued on and after the date of payment by any U.S. Revolving Facility Global Tranche Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be paid to the Administrative Agent for the account of such U.S. Revolving Facility Lender pro rata to the extent of such payment), and shall be payable on demand or, if no demand has been made, on the date on which the applicable Borrower reimburses the applicable LC Disbursement in full.

Appears in 3 contracts

Samples: Agreement (Albany International Corp /De/), Credit Facility Agreement (Albany International Corp /De/), Agreement (Albany International Corp /De/)

Interim Interest. If an any Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; , provided that, that if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph clause (e) of this SectionSection 2.05, then Section 2.13(d2.12(c) shall apply; provided, further, provided further that, in the case of a L/C any LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving SOFR Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in Dollarsdollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.12(c). Interest accrued pursuant to this paragraph clause shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph clause (e) of this Section 2.05 to reimburse such the Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 3 contracts

Samples: Credit Agreement (Seagate Technology Holdings PLC), Credit Agreement (Seagate Technology Holdings PLC), Credit Agreement (Seagate Technology Holdings PLC)

Interim Interest. If an any Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. relevant Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to to, but excluding excluding, the date that the U.S. such Borrower reimburses such L/C LC Disbursement, (i) in the case of LC Disbursements made in Dollars, at the rate per annum then applicable to Revolving ABR Revolving LoansLoans and (ii) in the case of LC Disbursements made in an Alternative Currency, at the overnight London interbank offered rate for the relevant Alternative Currency determined by the Administrative Agent in good faith plus the rate per annum then applicable to Eurocurrency Borrowings; provided that, if such L/C Borrower fails to reimburse such LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this SectionSection 2.06(f), then Section 2.13(d2.13(c) shall apply; provided, further, that, in . In the case of a L/C Disbursement LC Disbursements made under a Foreign Currency Letter of Creditin an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Alternative Currency; provided that, if the Borrower’s payment obligation with respect to a LC Disbursement made in an Alternative Currency and (Bhas been converted pursuant to Section 2.06(f) bear into an obligation to pay the Dollar Equivalent of such amount, then interest at a rate payable thereon shall be payable in Dollars in the amount equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyEquivalent thereof. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (eSection 2.06(e) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 3 contracts

Samples: Credit Agreement (Brunswick Corp), Credit Agreement (Brunswick Corp), Credit Agreement (Brunswick Corp)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof (or, in the case of clause (iii)(B) below, the Dollar Equivalent of such amount, determined in accordance with paragraph (e) of this Section) shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C DisbursementLC Disbursement in full, at (i) in the case of any LC Disbursement denominated in dollars, the rate per annum then applicable to ABR Revolving Loans; provided thatLoans (and payable in dollars), if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (eii) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of an LC Disbursement denominated in Euros or Pounds Sterling, a L/C rate per annum determined by the applicable Issuing Bank (which determination will be conclusive absent manifest error) to represent its cost of funds plus the Applicable Rate used to determine interest applicable to Eurocurrency Revolving Loans or EURIBOR Revolving Loans (and payable in such currency) and (iii) in the case of an LC Disbursement made under a denominated in any Permitted Foreign Currency Letter of Creditother than Euros and Pounds Sterling, the amount of interest due with respect thereto shall (iA) in the case of any L/C LC Disbursement that is reimbursed on or before the date such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably per annum determined by the applicable Issuing Bank (which determination will be conclusive absent manifest error) to be the represent its cost to such Issuing Bank of funding such L/C Disbursement funds plus the Applicable Margin Rate used to determine interest applicable to Eurocurrency Revolving Loans at or EURIBOR Revolving Loans (and payable in such time currency) and (iiB) in the case of any L/C LC Disbursement that is reimbursed after the date such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans (and payable in dollars); provided that, if the Borrower fails to reimburse such LC Disbursement in full when due pursuant to paragraph (De) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.

Appears in 3 contracts

Samples: Credit Agreement (Vectrus, Inc.), Credit Agreement (Vectrus, Inc.), Credit Agreement (Vectrus, Inc.)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. applicable Borrower (or any other account party) reimburses such L/C LC Disbursement, at (1) in the case of a Revolving LC Disbursement in Dollars, the rate per annum then applicable to ABR Base Rate Revolving LoansLoans and (2) in the case of a Revolving LC Disbursement in Sterling, the rate per annum that would be applicable to a Eurocurrency Term Loan denominated in such currency with a one month Interest Period commencing on the date of such LC Disbursement; provided that, if a Borrower fails to reimburse (or cause another account party to reimburse) such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this SectionSection 2.04(e), then Section 2.13(d2.11(c) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest apply from such due with respect thereto shall (i) in the case of any L/C Disbursement that date until such reimbursement is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankBank making such LC Disbursement, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (eSection 2.04(e)(ii) of this Section to reimburse such an Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment. If the LC Facility Issuing Bank shall make any LC Disbursement, then, unless the U.S. Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date the U.S. Borrower reimburses such LC Disbursement, at the rate per annum that would be applicable to Eurocurrency Term Loans with a one month Interest Period commencing on the date of such LC Disbursement; provided that, if the U.S. Borrower fails to reimburse (or cause another account party to reimburse) such LC Disbursement when due pursuant to Section 2.04(e), then the resulting payment from the Credit Linked Deposit Account shall be deemed to be an LC Facility Term Loan as set forth in Section 2.04(e)(iii) above.

Appears in 2 contracts

Samples: Credit Agreement (Hawker Beechcraft Notes Co), Credit and Guaranty Agreement (Hawker Beechcraft Quality Support Co)

Interim Interest. If an the LC Facility Issuing Bank shall make any L/C LC Facility Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Facility Disbursement in full on the date such L/C LC Facility Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Facility Disbursement is made to but excluding the date that the U.S. Borrower (or any other account party) reimburses such L/C DisbursementLC Facility Disbursement or such LC Facility Disbursement is deemed to have converted into an LC Facility Term Loan pursuant to subsection 2.6(e)(iii), (x) with respect to the portion of such LC Facility Disbursement constituting LC Facility Exposure of Tranche A LC Facility Lenders, at the rate per annum then that would be applicable to ABR Revolving LoansTranche A Term Loans hereunder that are Eurocurrency Loans with a one month Interest Period commencing on the date of such LC Facility Disbursement and (y) with respect to the portion of such LC Facility Disbursement constituting LC Facility Exposure of Tranche B LC Facility Lenders, at the rate per annum that would be applicable to Tranche B Term Loans hereunder that are Eurocurrency Loans with a one month Interest Period commencing on the date of such LC Facility Disbursement; provided that, if the Borrower fails to reimburse (or cause another account party to reimburse) such L/C LC Facility Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Sectionsubsection 2.6(e), then Section 2.13(dthen, unless such LC Facility Disbursement is converted into an LC Facility Term Loan pursuant to subsection 2.6(e)(iii), subsection 3.1(c) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest apply from such due with respect thereto shall (i) in the case of any L/C Disbursement that date until such reimbursement is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph subsection 2.6(h) shall be for the account of the applicable LC Facility Issuing Bank, Bank except that interest accrued on and after the date of payment by any U.S. Revolving LC Facility Lender pursuant to paragraph (esubsection 2.6(e)(ii) of this Section to reimburse such the LC Facility Issuing Bank shall be for the account of such U.S. Revolving LC Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Servicemaster Co), Credit Agreement (Servicemaster Co)

Interim Interest. If an Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. relevant Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. such Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Domestic Revolving Loans; provided that, if such L/C Borrower fails to reimburse such LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.15(c) shall apply; provided, further, provided further that, in the case of a L/C an LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.15(c). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Domestic Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (SPX Corp), Credit Agreement (SPX Corp)

Interim Interest. If an the applicable Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse (including by a Borrowing) such L/C LC Disbursement in full on not later than the first Business Day following the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) 2.08 shall apply; provided, further, provided further that, in the case of a L/C an LC Disbursement made under a Foreign Currency Letter of CreditCredit in an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Eurodollar Revolving Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, Amount of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyas provided above. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph clause (e) of this Section 2.02 to reimburse such the applicable Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Security Agreement (Delta Air Lines Inc /De/), Security Agreement (Delta Air Lines Inc /De/)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of 106 Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (TRW Automotive Inc), Credit Agreement (TRW Automotive Inc)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. such Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving LoansLoans or Eurocurrency Revolving Loans denominated in the applicable Foreign Currency, as applicable; provided that, if such L/C Disbursement is not reimbursed by the U.S. such Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement provided further that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in DollarsDollars or the Foreign Currency in which such Letter of Credit is denominated, as the case may be, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans or Eurocurrency Revolving Loans denominated in the applicable Foreign Currency, as applicable, and (DC) Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Dresser-Rand Group Inc.), Credit Agreement (Dresser-Rand Group Inc.)

Interim Interest. If an the Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; , provided that, that if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this SectionSection 2.05, then Section 2.13(d2.12(c) shall apply; provided, further, provided further that, in the case of a L/C any LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Eurodollar Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in Dollarsdollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.12(c). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section 2.05 to reimburse such the Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Seagate Technology), Credit Agreement (Seagate Technology)

Interim Interest. If an any Issuing Bank shall make any L/C DisbursementDisbursement in respect of a Letter of Credit, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is madedate, the unpaid amount thereof shall bear interestinterest for the account of such Issuing Bank, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear to but excluding the earlier of the date of payment by the Borrower or the date on which interest shall commence to accrue thereon as provided in Section 2.02(f), at the rate per annum then applicable that would apply to such amount if such amount were an ABR Revolving Loans Loan. (i) Resignation or Removal of any Issuing Bank; Additional Issuing Banks. Any Issuing Bank may resign at any time by giving 180 days' prior written notice to the Administrative Agent, the Lenders and (D) Section 2.13(d) shall apply. Interest accrued pursuant the Borrower, and may be removed at any time by the Borrower by notice to this paragraph shall be for the account of the applicable such Issuing Bank, except the Administrative Agent and the Lenders. The Borrower may appoint additional Issuing Banks reasonably satisfactory to the Administrative Agent, and upon the acceptance of any appointment as an Issuing Bank hereunder by a Lender that interest shall agree to serve as an Issuing Bank, such successor shall succeed to and become vested with all the interests, rights and obligations of an Issuing Bank; provided, however, that there shall not be more than three Issuing Banks at any time. Upon resignation or removal, an Issuing Bank shall be discharged from its obligations to issue additional Letters of Credit hereunder. At the time such resignation or removal shall become effective, the Borrower shall pay all accrued on and unpaid Issuing Bank Fees due to such Issuing Bank. The acceptance of any appointment as an Issuing Bank hereunder by a Lender shall be evidenced by an agreement entered into by such Lender, in a form satisfactory to the Borrower and the Administrative Agent, and, from and after the effective date of payment by such agreement, (i) such Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents and (ii) references herein and in the other Loan Documents to the term "Issuing Bank" shall be deemed to refer to such additional Issuing Bank and to any U.S. Revolving Facility Lender pursuant previously appointed Issuing Bank, or to paragraph (e) such successor and all previously appointed Issuing Banks, as the context shall require. After the resignation or removal of this Section to reimburse an Issuing Bank hereunder, such Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such resignation or removal, but shall not be for the account required to issue additional Letters of such U.S. Revolving Facility Lender to the extent of such payment.Credit. (j)

Appears in 2 contracts

Samples: Oak Industries Inc, Oak Industries Inc

Interim Interest. If an the applicable Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; , provided that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.. (i) Replacement of an Issuing Bank. Any Issuing Bank may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank, if any. The Administrative Agent shall notify the Lenders of any such replacement of the replaced Issuing Bank. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b). From and after the effective date of any such replacement, (i) any successor Issuing Bank shall have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term "Issuing Bank" shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. (j)

Appears in 2 contracts

Samples: Credit Agreement (Pathmark Stores Inc), Credit Agreement (Supermarkets General Holdings Corp)

Interim Interest. (i) If an Issuing Bank Lender shall make any L/C Financial LC Disbursement, then, unless the U.S. Parent Borrower shall reimburse such L/C Financial LC Disbursement in full on the date such L/C Financial LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Financial LC Disbursement is made to but excluding the date that the U.S. Parent Borrower reimburses such L/C Financial LC Disbursement, at the rate per annum then applicable to ABR Domestic Revolving Loans; provided that, if the Parent Borrower fails to reimburse such L/C Financial LC Disbursement is not reimbursed by the U.S. Borrower (including any interim interest incurred in connection with such Financial LC Disbursement pursuant to this paragraph) when due pursuant to paragraph (ee)(i) of this Section, then Section 2.13(d2.15(c) shall apply; provided, further, provided further that, in the case of a L/C Financial LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Financial LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionFinancial LC Disbursement, (A) be payable in an amount equal to the Dollar Equivalent, calculated using the applicable Foreign Currency Exchange Rate on the date such Financial LC Disbursement is made, of such Financial LC Disbursement and (B) if not reimbursed on the date of such Financial LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C Financial LC Disbursement plus the Applicable Margin Rate applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Financial LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Financial LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C Financial LC Disbursement was made, of such L/C Disbursement, Financial LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.15(c). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Domestic Revolving Facility Lender pursuant to paragraph (ee)(i) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (SPX Corp), Credit Agreement (SPX Corp)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars and at all times following the conversion to US Dollars of an LC Disbursement made in a Designated Foreign Currency pursuant to paragraph (e) of this Section, at the rate per annum then applicable to ABR Revolving Loans, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.

Appears in 2 contracts

Samples: Credit Agreement (Northrop Grumman Corp /De/), Credit Agreement (Northrop Grumman Corp /De/)

Interim Interest. If an any Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the later of (i) the date when such L/C LC Disbursement is mademade and (ii) the date upon which the Borrower receives notice of such LC Disbursement pursuant to paragraph (g) above (such later date, the “Interest Commencement Date”), the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made Interest Commencement Date to but excluding the date that the U.S. Borrower reimburses reimbursement of such L/C Disbursement, LC Disbursement is due pursuant to paragraph (e) of this Section at the rate per annum then applicable provided in Section 2.12 with respect to (v) in the case of LC Disbursements denominated in US Dollars, ABR Revolving Loans; provided that, (w) in the case of LC Disbursements denominated in Canadian Dollars, Canadian Prime Rate Revolving Loans, (x) in the case of LC Disbursements denominated in Pounds Sterling or Euros, Eurodollar Revolving Loans using the LIBO Rate in effect on such day (or if such day is not a Business Day, the immediately preceding Business Day) for a deposit in Pound Sterling or Euros, as applicable, with a maturity of one month, (y) in the case of LC Disbursements denominated in Hong Kong Dollars, HIBO Rate Revolving Loans using the HIBO Rate in effect on such day (or if such day is not a Business Day, the immediately preceding Business Day) for a deposit in Hong Kong Dollars with a maturity of one month and (z) in the case of LC Disbursements denominated in any other Permitted Foreign Currency, Eurodollar Revolving Loans or Loans of such other Type as set forth in the applicable effective Additional Currency Agreement, Incremental Facility Agreement or Local Facility Amendment and, if such L/C Disbursement is not so reimbursed by on the U.S. Borrower when date due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest from and including such date so due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before to but excluding the date that the Borrower reimburses such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C LC Disbursement, (C) bear interest at the rate per annum then applicable provided in Section 2.12(g) with respect to ABR such Revolving Loans and (D) Section 2.13(d) shall applyLoans. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section Section, to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (L Brands, Inc.), Under the Credit Agreement (L Brands, Inc.)

Interim Interest. If an any Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. applicable Borrower reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in Euros, and at all times following the conversion to Euros of an LC Disbursement made in US Dollars or Pounds Sterling pursuant to paragraph (e) or (l) of this Section, at the Swingline Rate plus 2.00% per annum, (ii) in the case of any LC Disbursement denominated in US Dollars, at all times prior to its conversion to Euros pursuant to paragraph (e) or (l) of this Section, at the Alternate Base Rate (as defined in the First Lien Agreement) plus 2.00% per annum, and (iii) in the case of any LC Disbursement denominated in Pounds Sterling, at all times prior to its conversion to Euros pursuant to paragraph (e) or (l) of this Section, a rate per annum then reasonably determined by the applicable Issuing Bank (which determination will be conclusive absent manifest error) to ABR Revolving Loansrepresent its cost of funds plus 2.00% per annum; provided that, if the applicable Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.13(b) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account accounts of such U.S. Revolving Facility Lender the ABT Lenders to the extent of such payment.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Goodyear Tire & Rubber Co /Oh/), Revolving Credit Agreement (Goodyear Tire & Rubber Co /Oh/)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, in the case of any LC Disbursement denominated in US Dollars and at all times following the conversion to US Dollars of an LC Disbursement made in a Designated Foreign Currency pursuant to paragraph (e) of this Section, at the rate per annum then applicable to ABR Revolving Loans, and if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.14(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Huntington Ingalls Industries, Inc.), Credit Agreement (Huntington Ingalls Industries, Inc.)

Interim Interest. If an any Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. relevant Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to to, but excluding excluding, the date that the U.S. such Borrower reimburses such L/C LC Disbursement, (i) in the case of LC Disbursements made in Dollars, at the rate per annum then applicable to Revolving ABR Revolving LoansLoans and (ii) in the case of LC Disbursements made in an Alternative Currency, at the overnight London interbank offered rate for the relevant Alternative Currency determined by the Administrative Agent in good faith plus the Applicable Rate per annum then applicable to Eurocurrency Borrowings; provided that, if such L/C Borrower fails to reimburse such LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this SectionSection 2.06(f), then Section 2.13(d2.13(c) shall apply; provided, further, that, in . In the case of a L/C Disbursement LC Disbursements made under a Foreign Currency Letter of Creditin an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Alternative Currency; provided that, if the Borrower’s payment obligation with respect to an LC Disbursement made in an Alternative Currency and (Bhas been converted pursuant to Section 2.06(f) bear into an obligation to pay the Dollar Equivalent of such amount, then interest at a rate payable thereon shall be payable in Dollars in the amount equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyEquivalent thereof. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (eSection 2.06(e) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Brunswick Corp), Credit Agreement (Brunswick Corp)

Interim Interest. If an Issuing Bank or the LC Facility Issuing Bank, as applicable, shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower (or any other account party) reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e1) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C LC Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D2) in the case of an LC Facility LC Disbursement, the rate per annum that would be applicable to Eurodollar Term Loans with a one month Interest Period commencing on the date of such LC Disbursement; provided that, if Borrower fails to reimburse (or cause another account party to reimburse) such LC Disbursement when due pursuant to Section 2.13(d2.06(e), then Section 2.08(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank making such LC Disbursement or the LC Facility Issuing Bank, as applicable, except that interest accrued on and after the date of payment by any U.S. Revolving Lender pursuant to Section 2.06(e)(ii) to reimburse an Issuing Bank or from the LC Facility Deposit of any LC Facility Lender pursuant to paragraph (eSection 2.06(e)(iii) of this Section to reimburse such the LC Facility Issuing Bank Bank, as applicable, shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Rural Metro Corp /De/), Credit Agreement (Rural Metro Corp /De/)

Interim Interest. If an Issuing Bank or the LC Facility Issuing Bank, as applicable, shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower (or any other account party) reimburses such L/C LC Disbursement, at (1) in the case of a Revolving LC Disbursement in Dollars, the rate per annum then applicable to ABR Base Rate Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e2) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Revolving LC Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Canadian Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Canadian Base Rate Revolving Loans Loans, (3) in the case of Revolving LC Disbursements in any currency other than Dollars or Canadian Dollars, the rate per annum that would be applicable to a Eurocurrency Rate Term Loan denominated in such currency with a one month Interest Period commencing on the date of such LC Disbursement, and (D4) in the case of the portion of any LC Facility LC Disbursement a rate per annum equal to the Applicable Rate plus the Eurocurrency Rate for Dollars for a one month Interest Period commencing on the date of such LC Disbursement; provided that, if a Borrower fails to reimburse (or cause another account party to reimburse) such LC Disbursement when due pursuant to Section 2.13(d2.04(e), then Section 2.11(c) shall applyapply from such due date until such reimbursement is made. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank making such LC Disbursement or the LC Facility Issuing Bank, as applicable, except that interest accrued on and after the date of payment by any U.S. Revolving Lender pursuant to Section 2.04(e)(ii) to reimburse an Issuing Bank or from the LC Facility Deposit of any LC Facility Lender pursuant to paragraph (eSection 2.04(e)(iii) of this Section to reimburse such the LC Facility Issuing Bank Bank, as applicable, shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (ARAMARK Holdings Corp), Junior Lien Intercreditor Agreement (MPBP Holdings, Inc.)

Interim Interest. If an the Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; , provided that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply; provided, further, provided further that, in the case of a L/C an LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C such LC Disbursement that is reimbursed on or before the date such L/C Disbursement is required permitted to be reimbursed under paragraph (e) of this Sectionand is reimbursed in the relevant Alternative Currency, (A) be payable in the applicable Foreign Alternative Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Eurodollar Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, otherwise (A) be payable in Dollarsdollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.13(c). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (On Semiconductor Corp), Credit Agreement (On Semiconductor Corp)

Interim Interest. If an the Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Cayman Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Cayman Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; , provided that, if the Cayman Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply; provided, further, provided further that, in the case of a L/C an LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Eurodollar Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollarsdollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.13(c). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Veritas Software Technology Corp), Credit Agreement (Seagate Technology Malaysia Holding Co Cayman Islands)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. Borrower applicable Applicant Party shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower applicable Applicant Party reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Loans; Loans provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a an L/C Disbursement made under that is (i) a Foreign Euro Letter of Credit, the amount of interest due with respect thereto shall (A) be payable in Euros and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time or (ii) an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Alternative Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time time; and (ii) in the case of any L/C Disbursement that is reimbursed after the date provided, further, that, if such L/C Disbursement is required not reimbursed by the applicable Applicant Party when due pursuant to be reimbursed under paragraph (e) of this Section, (Athen Section 2.13(c) be payable in Dollarsshall apply, (B) accrue interest on with the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such rate per annum for L/C Disbursement was made, Disbursements made in respect of such L/C Disbursement, (C) bear interest at a CL Letter of Credit from the date any payment is made to the Issuing Lender on behalf of the CL Lenders shall be 2% in excess of the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyTerm Loans. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender or by or on behalf of any CL Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender or CL Lender, as the case may be, to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Celanese CORP), Credit Agreement (Celanese CORP)

Interim Interest. If an Issuing Bank shall make any Revolving L/C Disbursement, then, unless the U.S. applicable Borrower shall reimburse such Revolving L/C Disbursement in full on the date such Revolving L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such Revolving L/C Disbursement is made to but excluding the date that the U.S. such Borrower reimburses such Revolving L/C Disbursement, at the rate per annum equal to (x) if the Revolving L/C Disbursement relates to a Revolving Letter of Credit that was issued in U.S. Dollars or Sterling, the rate per annum then applicable to ABR LIBOR Loans having an Interest Period of one month, (y) if the Revolving LoansL/C Disbursement relates to a Revolving Letter of Credit that was issued in Canadian Dollars, the rate per annum then applicable to CDOR Loans having an Interest Period of one month or (z) if the Revolving L/C Disbursement relates to a Revolving Letter of Credit that was issued in Euro, the rate per annum then applicable to EURIBOR Loans having an Interest Period of one month; provided that, if such Revolving L/C Disbursement is not reimbursed by the U.S. such Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.15(e) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of provided further that any Revolving L/C Disbursement that is reimbursed on or before after the date such Revolving L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, shall (Ai) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and U.S. Dollars, Canadian Dollars, Euro or Sterling, as applicable, (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans specified in (x) or (y) above, as applicable, and (Diii) Section 2.13(d2.15(e) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (CHC Group Ltd.), Credit Agreement (CHC Group Ltd.)

Interim Interest. If an the Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse (including by a Borrowing) such L/C LC Disbursement in full on not later than the first Business Day following the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided provided, that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) 2.08 shall apply; provided, further, provided further that, in the case of a L/C Revolving LC Disbursement made under a Foreign Currency Revolving Letter of CreditCredit in an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C Revolving LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionRevolving LC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such Revolving LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C Revolving LC Disbursement plus the Applicable Margin applicable to Eurocurrency Eurodollar Revolving Loans at such time and (ii) in the case of any L/C Revolving LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Revolving LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, Amount of such L/C Disbursement, Revolving LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyas provided above. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (ee)(A) of this Section or from the Credit-Linked Deposit of any Credit-Linked Deposit Lender pursuant to paragraph (e)(B) of this Section to reimburse such the Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: First Lien Security Agreement (Delta Air Lines Inc /De/), Credit and Guaranty Agreement (Delta Air Lines Inc /De/)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof (determined in accordance with the definition thereof) shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. applicable Borrower reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars, and at all times following the conversion to US Dollars of any LC Disbursement made in an Alternative Currency pursuant to paragraph (e) or (l) of this Section, at the rate per annum then applicable to ABR Revolving Loans; provided that, Loans and (ii) if such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due made in an Alternative Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall or (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (el) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement plus the Applicable Margin Rate applicable to Eurocurrency Revolving Loans at such time and (ii) in time; provided that, if the case of any L/C applicable Borrower fails to reimburse such LC Disbursement that is reimbursed after the date such L/C Disbursement is required when due pursuant to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be paid to the Administrative Agent for the account of such U.S. Revolving Facility Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the applicable Borrower reimburses the applicable LC Disbursement in full.

Appears in 2 contracts

Samples: Credit Agreement (TripAdvisor, Inc.), Credit Agreement (TripAdvisor, Inc.)

Interim Interest. If an any Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. Borrower Company shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, reimbursement is due and payable at the rate per annum then applicable to ABR Revolving LoansLoans and such interest shall be due and payable on the date when such reimbursement is payable; provided that, if the Company fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.11(c) shall apply; provided, further, further that, in the case of a L/C an LC Disbursement made under a Foreign Currency Letter of CreditCredit in an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C LC Disbursement plus the Applicable Margin Rate applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, Equivalent of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyas provided above. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Sherwin Williams Co), Credit Agreement (Sherwin Williams Co)

Interim Interest. If an any Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower actually reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in dollars and at all times following the conversion to dollars of an LC Disbursement made in a Designated Foreign Currency pursuant to paragraph (e) of this Section, at the rate per annum then applicable to ABR Revolving Loans; , and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such time, provided that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.12(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of each such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: First Lien Credit Agreement (Jda Software Group Inc), Credit Agreement (RedPrairie Holding, Inc.)

Interim Interest. If an any Issuing Bank shall make any L/C DisbursementLC Disbursement in respect of a Company Letter of Credit, then, unless the U.S. Borrower Company shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower Company reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans (or in the case such LC Disbursement is denominated in a Foreign Currency, at the Overnight Foreign Currency Rate for such Agreed Currency plus the then effective Applicable Rate with respect to Eurocurrency Revolving Loans); provided that, if the Company fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(e) shall apply; provided, further, that, . If any Issuing Bank shall make any LC Disbursement in the case respect of a L/C Disbursement made under a Foreign Currency Canadian Letter of Credit, then, unless the amount of interest due with respect thereto applicable Canadian Borrower shall (i) reimburse such LC Disbursement in the case of any L/C Disbursement that is reimbursed full on or before the date such L/C LC Disbursement is required made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to be reimbursed under but excluding the date that such Canadian Borrower reimburses such LC Disbursement, at the rate per annum then applicable to Canadian Base Rate Revolving Loans; provided that, if such Canadian Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.13(e) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 2 contracts

Samples: Credit Agreement (Watsco Inc), Credit Agreement (Watsco Inc)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. such Borrower reimburses such L/C Disbursement, (i) if such L/C Disbursement is a Revolving L/C Disbursement made in U.S. Dollars, and at all times following the conversion to U.S. Dollars of a Revolving L/C Disbursement made in an Alternative Currency pursuant to paragraph (e) above, at the rate per annum then applicable to ABR Revolving Loans (in the case of the U.S. Borrower) or Base Rate Loans (in the case of other Borrowers), (ii) if such L/C Disbursement is a Revolving L/C Disbursement made in an Alternative Currency, at all times prior to its conversion to U.S. Dollars pursuant to paragraph (e) above, at the applicable Base Rate plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time (or, in the case of a Revolving L/C Disbursement made in Canadian Dollars, at the Canadian Base Rate plus the Applicable Margin applicable to Canadian Base Rate Loans at such time) and (iii) if such L/C Disbursement is a Tranche B-3 L/C Disbursement, at the rate per annum then applicable to ABR Revolving Term Loans; provided that, in each case, if such L/C Disbursement is not reimbursed by the U.S. applicable Borrower when due pursuant to paragraph (e) (ii) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.14(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section or from the Tranche B-3 Credit-Linked Deposit of any Tranche B-3 Lender pursuant to paragraph (e)(iii) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender or Tranche B-3 Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Hexion Specialty Chemicals, Inc.)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof (determined in accordance with the definition thereof) shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. applicable Borrower reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars, and at all times following the conversion to US Dollars of any LC Disbursement made in any other LC Currency pursuant to paragraph (f) or (l) of this Section, at the rate per annum then applicable to ABR Revolving Loans; provided that, Loans and (ii) if such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due made in an LC Currency other than US Dollars, at all times prior to its conversion to US Dollars pursuant to paragraph (ef) or (l) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement (which determination shall be conclusive absent manifest error, it being understood that such Issuing Bank may deem the applicable Alternative Currency Overnight Rate to represent such cost of funding) plus the Applicable Margin Rate applicable to Eurocurrency LIBOR Revolving Loans at such time and (ii) in time; provided that, if the case of any L/C applicable Borrower fails to reimburse such LC Disbursement that is reimbursed after the date such L/C Disbursement is required when due pursuant to be reimbursed under paragraph (ef) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.10(d) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (ef) of this Section to reimburse such Issuing Bank shall be paid to the Administrative Agent for the account of such U.S. Revolving Facility Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the applicable Borrower reimburses the applicable LC Disbursement in full.

Appears in 1 contract

Samples: Credit Agreement (Westinghouse Air Brake Technologies Corp)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C DisbursementLC Disbursement (or such LC Disbursement is refinanced or deemed to be refinanced with ABR Revolving Loans as provided in Section 2.05), (i) in the case of any LC Disbursement denominated in US Dollars and at all times following the conversion to US Dollars of an LC Disbursement made in a Designated Foreign Currency pursuant to paragraph (e) of this Section, at the rate per annum then applicable to ABR Revolving Loans, and (ii) if such LC Disbursement is made in a Designated Foreign Currency, at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, at a rate per annum reasonably determined by the applicable Issuing Bank to represent the cost to such Issuing Bank of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such time; provided that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this SectionSection (and unless such LC Disbursement is deemed to be refinanced with ABR Revolving Loans as provided in Section 2.05), then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.12(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.

Appears in 1 contract

Samples: Credit Agreement (Northrop Grumman Corp /De/)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving LoansLoans (in the event of Revolving L/C Disbursements) or at the ABR plus the Synthetic L/C Applicable Margin applicable to ABR Revolving Loans (in the event of Synthetic L/C Disbursements); provided provided, that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply; provided, further, provided further that, in the case of a an L/C Disbursement made under a Foreign Currency Letter of CreditCredit in an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionDisbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such L/C Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans (in the event of Revolving L/C Disbursements) or plus the Synthetic L/C Applicable Margin applicable to Eurocurrency Revolving Loans (in the event of Synthetic L/C Disbursement) at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as Amount of the date such L/C Disbursement was made, of such L/C Disbursement, and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyas provided above. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (ee)(i) of this Section or from the Credit-Linked Deposit Account pursuant to paragraph (e)(ii) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender or Synthetic L/C Lender, as applicable, to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Realogy Holdings Corp.)

Interim Interest. If an Issuing Bank or the LC Facility Issuing Bank, as applicable, shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower (or any other account party) reimburses such L/C LC Disbursement, at (1) in the case of a Revolving LC Disbursement in Dollars, the rate per annum then applicable to ABR Base Rate Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e2) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Revolving LC Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Canadian Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Canadian Base Rate Revolving Loans, (3) in the case of Revolving LC Disbursements in any currency other than Dollars or Canadian Dollars, the rate per annum that would be applicable to a Eurocurrency Rate Term Loan denominated in such currency with a one month Interest Period commencing on the date of such LC Disbursement, and (4)(A) in the case of the portion of any LC Facility LC Disbursement representing any LC Facility Participation pursuant to the LC-1 Facility Deposits, the rate per annum that would be applicable to Eurocurrency Rate U.S. Term Loans and, (B) in the case of the portion of any LC Facility LC Disbursement representing any LC Facility Participation pursuant to any LC Facility Deposits other than LC-1-2 Facility Deposits, the rate per annum that would be applicable to Eurocurrency U.S. Term BRate U.S. Term B Loans and (DC) in the case of the portion of any LC Facility LC Disbursement representing any LC Facility Participation pursuant to any LC-3 Facility Deposits, the rate per annum that would be applicable to Eurocurrency Rate U.S. Term C Loans, in each case with a one month Interest Period commencing on the date of such LC Disbursement; provided that, if a Borrower fails to reimburse (or cause another account party to reimburse) such LC Disbursement when due pursuant to Section 2.13(d2.04(e), then Section 2.11(c) shall applyapply from such due date until such reimbursement is made. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank making such LC Disbursement or the LC Facility Issuing Bank, as applicable, except that interest accrued on and after the date of payment by any U.S. Revolving Lender pursuant to Section 2.04(e)(ii) to reimburse an Issuing Bank or from the LC Facility Deposit of any LC Facility Lender pursuant to paragraph (eSection 2.04(e)(iii) of this Section to reimburse such the LC Facility Issuing Bank Bank, as applicable, shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Aramark Corp)

Interim Interest. If an Issuing Bank or the LC Facility Issuing Bank, as applicable, shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower (or any other account party) reimburses such L/C LC Disbursement, at (1) in the case of a Revolving LC Disbursement in Dollars, the rate per annum then applicable to ABR Base Rate Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e2) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Revolving LC Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Canadian Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Canadian Base Rate Revolving Loans, (3) in the case of Revolving LC Disbursements in any currency other than Dollars or Canadian Dollars, the rate per annum that would be applicable to a Eurocurrency Term Loan denominated in such currency with a one month Interest Period commencing on the date of such LC Disbursement, and (4)(A) in the case of the portion of any LC Facility LC Disbursement representing any LC Facility Participation pursuant to the LC-1 Facility Deposits, the rate per annum that would be applicable to Eurocurrency U.S. Term Loans and (DB) in the case of the portion of any LC Facility LC Disbursement representing any LC Facility Participation pursuant to any LC Facility Deposits other than LC-1 Facility Deposits, the rate per annum that would be applicable to Eurocurrency U.S. Term B Loans, in each case with a one month Interest Period commencing on the date of such LC Disbursement; provided that, if a Borrower fails to reimburse (or cause another account party to reimburse) such LC Disbursement when due pursuant to Section 2.13(d2.04(e), then Section 2.11(c) shall applyapply from such due date until such reimbursement is made. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank making such LC Disbursement or the LC Facility Issuing Bank, as applicable, except that interest accrued on and after the date of payment by any U.S. Revolving Lender pursuant to Section 2.04(e)(ii) to reimburse an Issuing Bank or from the LC Facility Deposit of any LC Facility Lender pursuant to paragraph (eSection 2.04(e)(iii) of this Section to reimburse such the LC Facility Issuing Bank Bank, as applicable, shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Aramark Corp)

Interim Interest. If an Issuing Bank shall make any L/C DisbursementDisbursement in respect of a Letter of Credit, then, unless the U.S. Applicable Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is madedate, the unpaid amount thereof shall bear interestinterest for the account of the Applicable Issuing Bank, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses of such L/C Disbursement, to but excluding the earlier of the date of payment by such Borrower or the date on which interest shall commence to accrue thereon as provided in Section 2.02(e), at the rate per annum then applicable that would apply to ABR Revolving Loans; provided that, such amount if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph amount were an ABR Loan, a Canadian Prime Rate Loan (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter for Canadian Letters of Credit) or, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on with respect to an Australian Letter of Credit, a BBSY Rate Loan, as the case may be. (j) Resignation or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) Removal of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest an Issuing Bank. An Issuing Bank may resign at a rate equal any time by giving 30 days’ prior written notice to the rate reasonably determined Applicable Administrative Agent, the Applicable Lenders and the Parent Borrower, and may be removed at any time by the applicable Issuing Bank to be the cost Parent Borrower by notice to such Issuing Bank of funding such L/C Disbursement plus Bank, the Applicable Margin applicable Administrative Agent and the Applicable Lenders. Subject to Eurocurrency Revolving Loans at such time and (ii) in the case next succeeding paragraph, upon the acceptance of any L/C Disbursement appointment as an Issuing Bank hereunder by a Lender that is reimbursed after the date such L/C Disbursement is required shall agree to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated serve as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable successor Issuing Bank, except that interest accrued on such successor shall succeed to and after become vested with all the date interests, rights and obligations of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such the retiring Issuing Bank and the retiring Issuing Bank shall be for discharged from its obligations to issue additional Letters of Credit hereunder. At the account time such removal or resignation shall become effective, the Applicable Borrower shall pay all accrued and unpaid Issuing Bank Fees pursuant to Section 2.05(c). The acceptance of any appointment as an Issuing Bank hereunder by a successor Xxxxxx shall be evidenced by an agreement entered into by such U.S. Revolving Facility Lender successor, in a form satisfactory to each Applicable Borrower and the extent of such payment.Applicable Administrative Agent, and, from and after the

Appears in 1 contract

Samples: Syndicated Facility Agreement (Civeo Corp)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof (determined in accordance with the definition thereof) shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. applicable Borrower reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars, and at all times following the conversion to US Dollars of any LC Disbursement made in any other LC Currency pursuant to paragraph (f) or (l) of this Section, at the rate per annum then applicable to ABR Revolving Loans; provided that, Loans and (ii) if such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due made in an LC Currency other than US Dollars, at all times prior to its conversion to US Dollars pursuant to paragraph (ef) or (l) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement (which determination shall be conclusive absent manifest error) plus the Applicable Margin Rate applicable to Eurocurrency Term SOFR Revolving Loans at such time and (ii) in time; provided that, if the case of any L/C applicable Borrower fails to reimburse such LC Disbursement that is reimbursed after the date such L/C Disbursement is required when due pursuant to be reimbursed under paragraph (ef) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.10(e) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (ef) of this Section to reimburse such Issuing Bank shall be paid to the Administrative Agent for the account of such U.S. Revolving Facility Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the applicable Borrower reimburses the applicable LC Disbursement in full.

Appears in 1 contract

Samples: Credit Agreement (Trimble Inc.)

Interim Interest. If an Issuing Bank shall make any Revolving L/C Disbursement, then, unless the U.S. applicable Borrower shall reimburse such Revolving L/C Disbursement in full on the date such Revolving L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such Revolving L/C Disbursement is made to but excluding the date that the U.S. such Borrower reimburses such Revolving L/C Disbursement, at the rate per annum equal to (x) if the Revolving L/C Disbursement relates to a Revolving Letter of Credit that was issued in U.S. Dollars, Canadian Dollars or Sterling, the rate per annum then applicable to ABR LIBOR Loans having an Interest Period of one month or (y) if the Revolving LoansL/C Disbursement relates to a Revolving Letter of Credit that was issued in Euro, the rate per annum then applicable to EURIBOR Loans having an Interest Period of one month; provided that, if such Revolving L/C Disbursement is not reimbursed by the U.S. such Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.15(e) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of provided further that any Revolving L/C Disbursement that is reimbursed on or before after the date such Revolving L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, shall (Ai) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and U.S. Dollars, Canadian Dollars, Euro or Sterling, as applicable, (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans specified in (x) or (y) above, as applicable, and (Diii) Section 2.13(d2.15(e) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Integra Leasing As)

Interim Interest. If an the Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to (i) if such LC Disbursement is denominated in Dollars, ABR Revolving Loans, and (ii) if such LC Disbursement is denominated in a Foreign Currency, the rate reasonably determined by the Applicable Agent to be the cost to it of funding such amount; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.. (i) Replacement of the Issuing Bank. The Issuing Bank may be replaced at any time by written agreement among the U.S. Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement of the Issuing Bank. At the time any such replacement shall become effective, the U.S. Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and obligations of the Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. (j)

Appears in 1 contract

Samples: Credit Agreement (Miller Herman Inc)

Interim Interest. If an Issuing Bank the L/C Issuer for any standby Letter of Credit shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Base Rate Loans; provided that, that if the Borrower fails to reimburse such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph clause (ef) of this SectionSection 2.03, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.08(b) shall apply. Interest accrued pursuant to this paragraph clause (p) shall be for the account of the applicable Issuing Banksuch L/C Issuer, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph clause (ef) of this Section 2.03 to reimburse such Issuing Bank L/C Issuer shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.. (p) Replacement of any L/C Issuer. Any L/C Issuer may be replaced at any time by written agreement between the Borrower, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of an L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.03(m). From and after the effective date 58 of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to include such successor or any previous L/C Issuer, or such successor and all previous L/C Issuer, as the context shall require. After the replacement of an L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. (q)

Appears in 1 contract

Samples: Credit Agreement (Morningstar, Inc.)

Interim Interest. If an the Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Domestic Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Domestic Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if the Domestic Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment. Replacement of the Issuing Bank. The Issuing Bank may be replaced at any time by written agreement among the Domestic Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement of the Issuing Bank. At the time any such replacement shall become effective, the Domestic Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and obligations of the Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term "Issuing Bank" shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Volt Information Sciences Inc)

Interim Interest. If an the Issuing Bank for any Letter of Credit shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, that if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.11(b) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.. (i) Replacement of an Issuing Bank. Any Issuing Bank may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Revolving Lenders of any such replacement of an Issuing Bank. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit then outstanding and issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. Any Issuing Bank may resign at any time by giving thirty (30) days’ prior notice to the Administrative Agent, the Lenders and the Borrower. After the resignation of an Issuing Bank hereunder, the retiring Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such resignation, but shall not be required to issue additional Letters of Credit or to extend, reinstate, renew or increase any existing Letter of Credit. (j)

Appears in 1 contract

Samples: Credit Agreement (Core Molding Technologies Inc)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars, and at all times following the conversion to US Dollars of any LC Disbursement made in an Alternative Currency pursuant to paragraph (e) or (m) of this Section, at the rate per annum then applicable to ABR Revolving Loans; provided thatLoans and (ii) in the case of any LC Disbursement denominated in an Alternative Currency, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall or (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (em) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement (with the Borrower agreeing that the applicable Issuing Bank may make such determination in any manner it determines is reasonable, and that such determination shall be conclusive) plus the Applicable Margin Rate applicable to Eurocurrency Revolving SOFR Loans at such time and (ii) in time; provided that, if the case of any L/C Borrower fails to reimburse such LC Disbursement that is reimbursed after the date such L/C Disbursement is required when due pursuant to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.12(e) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.

Appears in 1 contract

Samples: Credit Agreement (Ingersoll Rand Inc.)

Interim Interest. (i) If an Issuing Bank Lender shall make any L/C Financial LC Disbursement, then, unless the U.S. Parent Borrower shall reimburse such L/C Financial LC Disbursement in full on the date such L/C Financial LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from from, and including including, the date such L/C Financial LC Disbursement is made to to, but excluding excluding, the date that the U.S. Parent Borrower reimburses such L/C Financial LC Disbursement, at the rate per annum then applicable to ABR Domestic Revolving Loans; provided provided, that, if the Parent Borrower fails to reimburse such L/C Financial LC Disbursement is not reimbursed by the U.S. Borrower (including any interim interest incurred in connection with such Financial LC Disbursement pursuant to this clause (h)(i)) when due pursuant to paragraph clause (ee)(i) of this Sectionabove, then Section 2.13(d2.15(e) shall apply; provided, further, that, in the case of a L/C Financial LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall shall, (iA) in the case of any L/C Financial LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionFinancial LC Disbursement, (A1) be payable in an amount equal to the Dollar Equivalent, calculated using the applicable Foreign Currency Exchange Rate on the date such Financial LC Disbursement is made, of such Financial LC Disbursement, and (B2) if not reimbursed on the date of such Financial LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C Disbursement Financial LC Disbursement, plus the Applicable Margin Rate applicable to Eurocurrency Eurodollar Domestic Revolving Loans at such time time, and (iiB) in the case of any L/C Financial LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Financial LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A1) be payable in Dollars, (B2) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C Financial LC Disbursement was made, of such L/C Financial LC Disbursement, and (C3) bear interest at the rate per annum then applicable to ABR Domestic Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.15(e). Interest accrued pursuant to this paragraph clause (h)(i) shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Domestic Revolving Facility Lender pursuant to paragraph clause (ee)(i) of this Section above to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (SPX FLOW, Inc.)

Interim Interest. If an Issuing Bank the L/C Issuer for any standby Letter of Credit shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Base Rate Loans; provided that, that if the Borrower fails to reimburse such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph clause (ef) of this SectionSection 2.03, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.08(b) shall apply. Interest accrued pursuant to this paragraph clause (o) shall be for the account of the applicable Issuing BankL/C Issuer, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph clause (ef) of this Section 2.03 to reimburse such Issuing Bank the L/C Issuer shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.. (p) Replacement of the L/C Issuer. The L/C Issuer may be replaced at any time by written agreement between the Borrower, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of the L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.03(l). From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to include such successor or any previous L/C Issuer, or such successor and all previous L/C Issuer, as the context shall require. After the replacement of the L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and

Appears in 1 contract

Samples: Credit Agreement (Ameresco, Inc.)

Interim Interest. If an the Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower or the UK Borrower, as applicable, shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower or the UK Borrower, as applicable, reimburses such L/C LC Disbursement, (i) if such LC Disbursement is made in Dollars, and at all times following the conversion to Dollars of an LC Disbursement made in Euro or Sterling pursuant to paragraph (e) above, at the rate per annum then applicable to ABR US Tranche Revolving Loans; provided that, and (ii) if such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due made in Euro or Sterling, at all times prior to its conversion to Dollars pursuant to paragraph (e) of this Sectionabove, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in time; provided that, if the case of any L/C Borrower or the UK Borrower fails to reimburse such LC Disbursement that is reimbursed after the date such L/C Disbursement is required when due pursuant to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such the Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (MPS Group Inc)

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Interim Interest. (i) If an Issuing Bank Lender shall make any L/C Financial LC Disbursement, then, unless the U.S. Parent Borrower shall reimburse such L/C Financial LC Disbursement in full on the date such L/C Financial LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Financial LC Disbursement is made to but excluding the date that the U.S. Parent Borrower reimburses such L/C Financial LC Disbursement, at the rate per annum then applicable to ABR Domestic Revolving Loans; provided that, if the Parent Borrower fails to reimburse such L/C Financial LC Disbursement is not reimbursed by the U.S. Borrower (including any interim interest incurred in connection with such Financial LC Disbursement pursuant to this paragraph) when due pursuant to paragraph (ee)(i) of this Section, then Section 2.13(d2.15(c) shall apply; provided, further, provided further that, in the case of a L/C Financial LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (iA) in the case of any L/C Financial LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionFinancial LC Disbursement, (A1) be payable in an amount equal to the Dollar Equivalent, calculated using the applicable Foreign Currency Exchange Rate on the date such Financial LC Disbursement is made, of such Financial LC Disbursement and (B2) if not reimbursed on the date of such Financial LC Disbursement, bear interest at a rate equal to the rate reasonably determined by Bank of America, in its capacity as the applicable Issuing Bank Lender, to be the cost to such Issuing Bank Lender of funding such L/C Financial LC Disbursement plus the Applicable Margin Rate applicable to Eurocurrency Domestic Revolving Loans at such time and (iiB) in the case of any L/C Financial LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Financial LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A1) be payable in Dollars, (B2) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C Financial LC Disbursement was made, of such L/C Disbursement, Financial LC Disbursement and (C3) bear interest at the rate per annum then applicable to ABR Domestic Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.15(c). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Domestic Revolving Facility Lender pursuant to paragraph (ee)(i) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (SPX Corp)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving LoansLoans (in the event of Revolving L/C Disbursements) or at the ABR plus the Synthetic L/C Applicable Margin applicable to ABR Revolving Loans (in the event of Synthetic L/C Disbursements); provided provided, that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply; provided, further, provided further that, in the case of a an L/C Disbursement made under a Foreign Currency Letter of CreditCredit in an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionDisbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such L/C Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C Disbursement plus the Applicable Margin applicable to EurocurrencyTerm Benchmark Revolving Loans (in the event of Revolving L/C Disbursements) or plus the Synthetic L/C Applicable Margin applicable to Eurocurrency Revolving Loans (in the event of Synthetic L/C Disbursement) at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as Amount of the date such L/C Disbursement was made, of such L/C Disbursement, and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyas provided above. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (ee)(i) of this Section or from the Credit-Linked Deposit Account pursuant to paragraph (e)(ii) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender or Synthetic L/C Lender, as applicable, to the extent of such payment.

Appears in 1 contract

Samples: Eleventh Amendment (Anywhere Real Estate Group LLC)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. applicable Borrower reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars, and at all times following the conversion to US Dollars of an LC Disbursement made in an Alternative Currency pursuant to paragraph (e) of this Section, at the rate per annum then applicable to ABR Revolving Loans; provided that, if the Company fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(f) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall apply and (iii) in the case of any L/C Disbursement that is reimbursed on or before the date if such L/C LC Disbursement is required made in an Alternative Currency, at all times prior to be reimbursed under its conversion to US Dollars pursuant to paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement plus the Applicable Margin Rate applicable to Eurocurrency LIBOR Revolving Loans or EURIBOR Revolving Loans, as the case may be, at such time and (ii) in time; provided that, if the case of any L/C applicable Borrower fails to reimburse such LC Disbursement that is reimbursed after the date such L/C Disbursement is required when due pursuant to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.12(f) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Applicable Agent, for the account of the applicable Issuing Bank, Bank (except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be paid to the Applicable Agent for the account of such U.S. Revolving Facility Lender pro rata to the extent of such payment), and shall be payable on demand or, if no demand has been made, on the date on which the applicable Borrower reimburses the applicable LC Disbursement in full.

Appears in 1 contract

Samples: Credit Facility Agreement (Albany International Corp /De/)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving LoansLoans made by 2014 U.S. Revolving Facility Lenders; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans made by 2014 U.S. Revolving Facility Lenders at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans made by 2014 U.S. Revolving Facility Lenders and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such paymentpayment (and each U.S. Revolving Facility Lender shall be entitled to the same rate of interest on its participation as the applicable Issuing Bank is entitled to in respect of such L/C Disbursement, regardless of whether such Lender is a 2012 U.S. Revolving Facility Lender or a 2014 U.S. Revolving Facility Lender).

Appears in 1 contract

Samples: Credit Agreement (TRW Automotive Holdings Corp)

Interim Interest. If an Issuing Bank the L/C Issuer for any standby Letter of Credit shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Base Rate Loans; provided that, that if the Borrower fails to reimburse such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph clause (ef) of this SectionSection 2.03, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.08(b) shall apply. Interest accrued pursuant to this paragraph clause (p) shall be for the account of the applicable Issuing BankL/C Issuer, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph clause (ef) of this Section 2.03 to reimburse such Issuing Bank the L/C Issuer shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.. (p) Replacement of the L/C Issuer. the L/C Issuer may be replaced at any time by written agreement between the Borrower, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of the L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.03(m). From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to include such successor or any previous L/C Issuer, or such successor and all previous L/C Issuer, as the context shall require. After the replacement of the L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. (q)

Appears in 1 contract

Samples: Credit Agreement (Encore Wire Corp)

Interim Interest. If an the Issuing Bank shall make any L/C DisbursementDisbursement in respect of a Letter of Credit, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is madedate, the unpaid amount thereof shall bear interestinterest for the account of the Issuing Bank, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear to but excluding the earlier of the date of payment by the Borrower or the date on which interest shall commence to accrue thereon as provided in Section 2.02(f), at the rate per annum then applicable that would apply to such amount if such amount were an ABR Revolving Loans and Loan. (Di) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account Resignation or Removal of the applicable Issuing Bank. The Issuing Bank may resign at any time by giving 30 days' prior written notice to the Administrative Agent, the Lenders and the Borrower, and may be removed at any time by the Borrower by notice to the Issuing Bank, except the Administrative Agent and the Lenders. Upon the acceptance of any appointment as the Issuing Bank hereunder by a Lender that interest accrued on shall agree to serve as successor Issuing Bank, such successor shall succeed to and after become vested with all the date interests, rights and obligations of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such the retiring Issuing Bank and the retiring Issuing Bank shall be for discharged from its obligations to issue additional Letters of Credit hereunder. At the account time such removal or resignation shall become effective, the Borrower shall pay all accrued and unpaid fees pursuant to Section 2.05(c)(ii). The acceptance of any appointment as the Issuing Bank hereunder by a successor Lender shall be evidenced by an agreement entered into by such successor, in a form satisfactory to the Borrower and the Administrative Agent, and, from and after the effective date of such U.S. Revolving Facility agreement, (i) such successor Lender shall have all the rights and obligations of the previous Issuing Bank under this Agreement and the other Loan Documents and (ii) references herein and in the other Loan Documents to the extent term "Issuing Bank" shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the resignation or removal of the Issuing Bank hereunder, the retiring Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents with respect to Letters of Credit issued by it prior to such payment.resignation or removal, but shall not be required to issue additional Letters of Credit. (j)

Appears in 1 contract

Samples: Credit Agreement (CCC Information Services Group Inc)

Interim Interest. If an Issuing Bank the L/C Issuer for any Letter of Credit shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Base Rate Loans; provided that, that if the Borrower fails to reimburse such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph clause (ef) of this SectionSection 2.03, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.08(b) shall apply. Interest accrued pursuant to this paragraph clause (o) shall be for the account of the applicable Issuing BankL/C Issuer, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph clause (ef) of this Section 2.03 to reimburse such Issuing Bank the L/C Issuer shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.. (p) Replacement of the L/C Issuer. The L/C Issuer may be replaced at any time by written agreement between the Borrower, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Revolving Lenders of any such replacement of the L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.03(m). From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to include such successor or any previous L/C Issuer, or such successor and all previous L/C Issuer, as the context shall require. After the replacement of the L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. (q)

Appears in 1 contract

Samples: Credit Agreement (Helen of Troy LTD)

Interim Interest. If an the applicable Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse (including by a Borrowing) such L/C LC Disbursement in full on not later than the first Business Day following the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving LoansLoans under the applicable Revolving Facility (or with respect to the LC Tranche Facility, as if Revolving Loans were available thereunder in the same manner as provided for in Section 2.04 with respect to the 3-Year Revolving Facility); provided that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) 2.08 shall apply; provided, further, provided further that, in the case of a L/C an LC Disbursement made 42 #90303017v26 under a Foreign Currency Letter of CreditCredit in an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Eurodollar Revolving Loans under the applicable Revolving Facility at such time (or with respect to the LC Tranche Facility, as if Revolving Loans were available thereunder in the same manner as provided for in Section 2.04 with respect to the 3-Year Revolving Facility) and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, Amount of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyas provided above. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph clause (e) of this Section 2.02 to reimburse such the applicable Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Delta Air Lines, Inc.)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, (i) in the case of any Revolving LC Disbursements, unless the U.S. Borrower shall reimburse such L/C Revolving LC Disbursement in full on the date such L/C Revolving LC Disbursement is made or (ii) in the case of any Tranche B LC Disbursements, unless the Borrower shall reimburse such Tranche B LC Disbursement in full on the date such Tranche B LC Disbursement is made, in each case the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement or the Paying Agent reimburses such Tranche B LC Disbursement with funds held in the Tranche B Credit-Linked Deposit Account, at (i) in the case of a Revolving LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C a Tranche B LC Disbursement, at the LIBO Rate for the Interest Period at the time in effect for the Credit-Linked Deposits plus 2.25% per annum; provided that, if the Borrower fails to reimburse such LC Disbursement that is reimbursed after the date such L/C Disbursement is required when due pursuant to be reimbursed under paragraph (ef) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.12(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph or from the Tranche B Credit-Linked Deposit of any Tranche B Lender (eor with funds of the Paying Agent pending the application of such Tranche B Credit-Linked Deposit) of this Section to reimburse such an Issuing Bank shall be for the account of such U.S. Revolving Facility Lender or Tranche B Lender, as applicable, to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Tucson Electric Power Co)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars, and at all times following the conversion to US Dollars of any LC Disbursement made in an Alternative Currency pursuant to paragraph (e) or (m) of this Section, at the rate per annum then applicable to ABR Revolving Loans; provided thatLoans and (ii) in the case of any LC Disbursement denominated in an Alternative Currency, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall or (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (em) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement (with the Borrower agreeing that the applicable Issuing Bank may make such determination in any manner it determines is reasonable, and that such determination shall be conclusive) plus the Applicable Margin Rate applicable to Eurocurrency Revolving SOFR Loans at such time and (ii) in time; provided that, if the case of any L/C Borrower fails to reimburse such LC Disbursement that is reimbursed after the date such L/C Disbursement is required when due pursuant to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.

Appears in 1 contract

Samples: Credit Agreement (Leidos Holdings, Inc.)

Interim Interest. If an Issuing Bank shall make any L/C DisbursementDisbursement is made with respect to a Letter of Credit, then, unless the U.S. Borrower applicable Account Party shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made (including by the drawing of a Loan hereunder) to but excluding the date that the U.S. Borrower such Account Party reimburses such L/C Disbursement, at the rate per annum then applicable equal to ABR Revolving Loans; provided that(A) in the case of Letters of Credit denominated in Dollars, if (I) 1% plus the Base Rate to but excluding the date three Business Days after such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph made and (eII) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before from and including the date three Business Days after such L/C Disbursement is required to be reimbursed under paragraph (e) of this Sectionmade, (A) be payable in 3% plus the applicable Foreign Currency Base Rate, and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of Letters of Credit denominated in any L/C Disbursement that is reimbursed after Alternative Currency, (I) 1% plus the Issuing Bank’s Cost of Funds plus the Applicable LIBOR Margin to but excluding the date three Business Days after such L/C Disbursement is required to be reimbursed under paragraph made and (eII) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of from and including the date three Business Days after such L/C Disbursement was is made, 3% plus the Issuing Bank’s Cost of such L/C Disbursement, (C) bear interest at Funds plus the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyApplicable LIBOR Margin. Interest accrued pursuant to this paragraph in respect of any Fronted Letter of Credit or any Multi-Issuer Letter of Credit shall be for the account of the Issuing Bank or the applicable Issuing BankBanks, respectively, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender Bank pursuant to paragraph (eb)(vi) of this Section to reimburse such the Issuing Bank in respect of a Fronted Letter of Credit shall be for the account of such U.S. Revolving Facility Lender Bank to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Reinsurance Group of America Inc)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided provided, that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply; provided, further, provided further that, in the case of a an L/C Disbursement made under a Foreign Currency Letter of CreditCredit in an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionDisbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such L/C Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as Amount of the date such L/C Disbursement was made, of such L/C Disbursement, and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyas provided above. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (ee)(i) of this Section or from the Credit-Linked Deposit Account pursuant to paragraph (e)(ii) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender or Synthetic L/C Lender, as applicable, to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (NRT Settlement Services of Missouri LLC)

Interim Interest. If an Issuing Bank or the LC Facility Issuing Bank, as applicable, shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower (or any other account party) reimburses such L/C LC Disbursement, at (1) in the case of a Revolving LC Disbursement in Dollars, the rate per annum then applicable to ABR Base Rate Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e2) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Revolving LC Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Canadian Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Canadian Base Rate Revolving Loans Loans, (3) in the case of Revolving LC Disbursements in any currency other than Dollars or Canadian Dollars, the rate per annum that would be applicable to a Eurocurrency Term Loan denominated in such currency with a one month Interest Period commencing on the date of such LC Disbursement, and (D4) in the case of an LC Facility LC Disbursement, the rate per annum that would be applicable to Eurocurrency U.S. Term Loans with a one month Interest Period commencing on the date of such LC Disbursement; provided that, if a Borrower fails to reimburse (or cause another account party to reimburse) such LC Disbursement when due pursuant to Section 2.13(d2.04(e), then Section 2.11(c) shall applyapply from such due date until such reimbursement is made. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank making such LC Disbursement or the LC Facility Issuing Bank, as applicable, except that interest accrued on and after the date of payment by any U.S. Revolving Lender pursuant to Section 2.04(e)(ii) to reimburse an Issuing Bank or from the LC Facility Deposit of any LC Facility Lender pursuant to paragraph (eSection 2.04(e)(iii) of this Section to reimburse such the LC Facility Issuing Bank Bank, as applicable, shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Aramark Corp/De)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. Borrower or the Applicant Party shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower or the Applicant Party when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Euro Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency Euros and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Nalco Energy Services Equatorial Guinea LLC)

Interim Interest. If an Issuing Bank the L/C Issuer for any standby Letter of Credit shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Base Rate Loans; provided that, that if the Borrower fails to reimburse such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph clause (ef) of this SectionSection 2.03, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.08(b) shall apply. Interest accrued pursuant to this paragraph clause (p) shall be for the account of the applicable Issuing BankL/C Issuer, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph clause (ef) of this Section 2.03 to reimburse such Issuing Bank the L/C Issuer shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.. (p) Replacement and Resignation of the L/C Issuer. (i) The L/C Issuer may be replaced at any time by written agreement between the Borrower, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of the L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.03(m). From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of an L/C Issuer under this

Appears in 1 contract

Samples: Credit Agreement (Harmonic Inc)

Interim Interest. If an Issuing Bank or the LC Facility Issuing Bank, as applicable, shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower (or any other account party) reimburses such L/C LC Disbursement, at (1) in the case of a Revolving LC Disbursement in Dollars, the rate per annum then applicable to ABR Base Rate Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e2) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Revolving LC Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Canadian Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Canadian Base Rate Revolving Loans, (3) in the case of Revolving LC Disbursements in any currency other than Dollars or Canadian Dollars, the rate per annum that would be applicable to a Eurocurrency Rate Term Loan denominated in such currency with a one month Interest Period commencing on the date of such LC Disbursement, and (4)(A) in the case of the portion of any LC Facility LC Disbursement representing any LC Facility Participation pursuant to the LC-1 Facility Deposits, the rate per annum that would be applicable to Eurocurrency Rate U.S. Term Loans, (B) in the case of the portion of any LC Facility LC Disbursement representing any LC Facility Participation pursuant to any LC-2 Facility Deposits, the rate per annum that would be applicable to Eurocurrency Rate U.S. Term B Loans and (DC) in the case of the portion of any LC Facility LC Disbursement representing any LC Facility Participation pursuant to any LC-3 Facility Deposits, the rate per annum that would be applicable to Eurocurrency Rate U.S. Term C Loans, in each case with a one month Interest Period commencing on the date of such LC Disbursement; provided that, if a Borrower fails to reimburse (or cause another account party to reimburse) such LC Disbursement when due pursuant to Section 2.13(d2.04(e), then Section 2.11(c) shall applyapply from such due date until such reimbursement is made. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank making such LC Disbursement or the LC Facility Issuing Bank, as applicable, except that interest accrued on and after the date of payment by any U.S. Revolving Lender pursuant to Section 2.04(e)(ii) to reimburse an Issuing Bank or from the LC Facility Deposit of any LC Facility Lender pursuant to paragraph (eSection 2.04(e)(iii) of this Section to reimburse such the LC Facility Issuing Bank Bank, as applicable, shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Aramark Corp)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof (or, in the case of clause (iii)(B) below, the Dollar Equivalent of such amount, determined in accordance with paragraph (e) of this Section) shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C DisbursementLC Disbursement in full, at (i) in the case of any LC Disbursement denominated in dollars, the rate per annum then applicable to ABR Revolving LoansLoans (and payable in dollars); provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (eii) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of an LC Disbursement denominated in Euros, a L/C rate per annum determined by the applicable Issuing Bank (which determination will be conclusive absent manifest error) to represent its cost of funds plus the Applicable Rate used to determine interest applicable to Eurocurrency Revolving Loans or EURIBOR Revolving Loans (and payable in Euros) and (iii) in the case of an LC Disbursement made under a denominated in any Permitted Foreign Currency Letter of Creditother than Euros, the amount of interest due with respect thereto shall (iA) in the case of any L/C LC Disbursement that is reimbursed on or before the date such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably per annum determined by the applicable Issuing Bank (which determination will be conclusive absent manifest error) to be the represent its cost to such Issuing Bank of funding such L/C Disbursement funds plus the Applicable Margin Rate used to determine interest applicable to Eurocurrency Revolving Loans at or EURIBOR Revolving Loans (and payable in such time currency) and (iiB) in the case of any L/C LC Disbursement that is reimbursed after the date such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans (and payable in dollars); provided that, if the Borrower fails to reimburse such LC Disbursement in full when due pursuant to paragraph (De) of this Section, then Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.

Appears in 1 contract

Samples: Credit Agreement (Chemours Co)

Interim Interest. If an any Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. Borrower Company shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower Company reimburses such L/C LC Disbursement: (i) if such LC Disbursement is made in U.S. Dollars, and at all times following the conversion to U.S. Dollars of an LC Disbursement made in an Alternative Currency pursuant to paragraph (e) above, at the rate per annum then applicable to ABR Revolving Loans, and (ii) if such LC Disbursement is made in an Alternative Currency, at all times prior to its conversion to U.S. Dollars pursuant to paragraph (e) above, at a rate equal to the rate reasonably determined by the applicable Issuing Lender to be the cost to such Issuing Lender of funding such LC Disbursement plus the Applicable Margin applicable to Eurodollar Revolving Loans at such time; provided that, if the Company fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.12(j) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such the applicable Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Benchmark Electronics Inc)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars, and at all times following the conversion to US Dollars of any LC Disbursement made in an Alternative Currency pursuant to paragraph (e) or (m) of this Section, at the rate per annum then applicable to ABR Revolving Loans; provided thatLoans and (ii) in the case of any LC Disbursement denominated in an Alternative Currency, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due at all times prior to its conversion to US Dollars pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall or (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (em) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement (with the Borrower agreeing that the applicable Issuing Bank may make such determination in any manner it determines is reasonable, and that such determination shall be conclusive) plus the Applicable Margin Rate applicable to Eurocurrency Revolving LIBOR Loans at such time and (ii) in time; provided that, if the case of any L/C Borrower fails to reimburse such LC Disbursement that is reimbursed after the date such L/C Disbursement is required when due pursuant to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable LC Disbursement in full.

Appears in 1 contract

Samples: Amended and Restated Credit Agreement (Keysight Technologies, Inc.)

Interim Interest. If an Issuing Bank shall make any L/C DisbursementDisbursement in respect of a Letter of Credit, then, unless the U.S. applicable Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interestinterest for the account of such Issuing Bank, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses of such L/C Disbursement, at to but excluding the rate per annum then applicable earlier of the date of payment or the date on which interest shall commence to ABR Revolving Loans; provided that, if accrue on Loans made to reimburse such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall Disbursements (i) in the case of any L/C Disbursement that is reimbursed on or before denominated in Dollars and at all times following the date such conversion to Dollars of an L/C Disbursement is required made in another L/C Currency pursuant to be reimbursed under paragraph (e) of this Section, (A) be payable in at the rate per annum then applicable Foreign Currency to ABR Loans, and (Bii) bear interest if such L/C Disbursement is made in an L/C Currency other than Dollars, at all times prior to the conversion to Dollars pursuant to paragraph (e) of this Section, at a rate equal to the rate per annum reasonably determined by the applicable Issuing Bank to be represent the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applytime. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section or Section 2.02(d) to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the Borrower reimburses the applicable L/C Disbursement in full.

Appears in 1 contract

Samples: Assignment and Assumption (Exelis Inc.)

Interim Interest. If an any Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. applicable Borrower reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in Euros, and at all times following the conversion to Euros of an LC Disbursement made in US Dollars or Pounds Sterling pursuant to paragraph (e) or (l) of this Section, at the Swingline Rate plus 2.75% per annum, (ii) in the case of any LC Disbursement denominated in US Dollars, at all times prior to its conversion to Euros pursuant to paragraph (e) or (l) of this Section, at the Alternate Base Rate (as defined in the First Lien Agreement) plus 2.75% per annum, and (iii) in the case of any LC Disbursement denominated in Pounds Sterling, at all times prior to its conversion to Euros pursuant to paragraph (e) or (l) of this Section, a rate per annum then reasonably determined by the applicable Issuing Bank (which determination will be conclusive absent manifest error) to ABR Revolving Loansrepresent its cost of funds plus 2.75% per annum; provided that, if the applicable Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account accounts of such U.S. Revolving Facility Lender the ABT Lenders to the extent of such payment.

Appears in 1 contract

Samples: And Restatement Agreement (Goodyear Tire & Rubber Co /Oh/)

Interim Interest. If an Issuing Bank any L/C Issuer for any Letter of Credit shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Base Rate Loans; provided provided, that, if the Borrower fails to reimburse such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this SectionSection 2.03(f), then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.08(b) shall apply. Interest accrued pursuant to this paragraph Section 2.03(o) shall be for the account of the applicable Issuing Banksuch L/C Issuer, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (eSection 2.03(f) of this Section to reimburse such Issuing Bank L/C Issuer shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.. (p) Replacement of any L/C Issuer. Any L/C Issuer may be replaced at any time by written agreement between the Borrower, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Revolving Lenders of any such replacement of an L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer. From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit to be issued by it thereafter, and (ii) references herein to

Appears in 1 contract

Samples: Credit Agreement (Atlassian Corp)

Interim Interest. If an Issuing Bank Lender shall make any L/C LC ---------------- Disbursement, then, unless the U.S. relevant Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. such Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Domestic Revolving Loans; provided that, if such L/C Borrower fails to reimburse such LC Disbursement is not reimbursed by the U.S. Borrower -------- when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.14(c) shall apply; provided, further, provided further that, in the case of a L/C an LC Disbursement made under a Foreign an -------- ------- Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollarsdollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.14(c). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Domestic Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (SPX Corp)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C Disbursement LC Dis- bursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement LC Dis- bursement is made to but excluding the date that the U.S. Borrower (or any other account party) reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Base Rate Revolving LoansLoans under the applicable Revolving Facility; provided that, if a Borrower fails to reimburse (or cause another account party to xxxx- xxxxx) such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this SectionSection 2.04(e), then Section 2.13(d2.11(c) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest apply from such due with respect thereto shall (i) in the case of any L/C Disbursement that date until such reimbursement is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest Inter- est accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, Bank making such LC Disbursement except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (eSection 2.04(e)(ii) of this Section to reimburse such an Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such paymentpay- ment. (i) Replacement of Issuing Banks; Limitation on Obligations of Issuing Banks to Act in Such Capacities. (i) An Issuing Bank may be replaced at any time by written agreement among the U.S. Borrower, the Agent, the replaced Issu- ing Bank and the successor Issuing Bank. The Agent shall notify the Re- volving Lenders of any such replacement of an Issuing Bank. At the time any such replacement shall become effective, each Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.10. From and after the effective date of any such replace- ment, (1) the successor Issuing Bank shall have all the rights and obliga- tions of an Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (2) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issu- ing Bank, or to such successor and all previous Issuing Banks, as the con- text shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of the Issuing Bank under this Agree- ment with respect to Letters of Credit issued by it prior to such replace- ment, but shall not be required to issue additional Letters of Credit or to amend or extend any previously issued Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Aramark)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. such Borrower reimburses such L/C DisbursementLC Disbursement in full at (i) in the case of any LC Disbursement denominated in US Dollars, and at all times following the conversion to US Dollars of any LC Disbursement made in any currency other than US Dollars pursuant to paragraph (e) or (o) of this Section, the rate per annum then applicable to ABR Revolving Loans, (ii) in the case of any LC Disbursement denominated in Canadian Dollars, at all times prior to its conversion to US Dollars pursuant to paragraph (o) of this Section, the rate per annum then applicable to Canadian Prime Rate Revolving Loans, (iii) in the case of an LC Disbursement denominated in Euros, at all times prior to its conversion to US Dollars pursuant to paragraph (o) of this Section, the Euro Overnight Rate plus the Applicable Rate used to determine interest applicable to EURIBOR Revolving Loans, (iv) in the case of an LC Disbursement denominated in Sterling, at all times prior to its conversion to US Dollars pursuant to paragraph (o) of this Section, the Sterling Overnight Rate plus the Applicable Rate used to determine interest applicable to LIBOR Revolving Loans and (v) in the case of an LC Disbursement denominated in any Agreed LC Currency with respect to the applicable Tranche, at all times prior to its conversion to US Dollars pursuant to paragraph (e) or (o) of this Section, a rate per annum determined by the applicable Issuing Bank (which determination will be conclusive absent manifest error) to represent its cost of funds plus the Applicable Rate used to determine interest applicable to LIBOR or EURIBOR Revolving Loans; provided that, if such L/C Borrower fails to reimburse such LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.13(h) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Administrative Agent, for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment, and shall be payable on demand or, if no demand has been made, on the date on which the applicable Borrower reimburses the applicable LC Disbursement in full.

Appears in 1 contract

Samples: Credit Agreement (Amerisourcebergen Corp)

Interim Interest. If an the LC Facility Issuing Bank shall make any L/C LC Facility Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Facility Disbursement in full on the date such L/C LC Facility Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Facility Disbursement is made to but excluding the date that the U.S. Borrower (or any other account party) reimburses such L/C DisbursementLC Facility Disbursement or such LC Facility Disbursement is deemed to have converted into an LC Facility Term Loan pursuant to subsection 2.6(e)(iii), at the rate per annum then that would be applicable to ABR Revolving LoansTerm Loans hereunder that are Eurocurrency Loans with a one month Interest Period commencing on the date of such LC Facility Disbursement; provided that, if the Borrower fails to reimburse (or cause another account party to reimburse) such L/C LC Facility Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Sectionsubsection 2.6(e), then Section 2.13(dthen, unless such LC Facility Disbursement is converted into an LC Facility Term Loan pursuant to subsection 2.6(e)(iii), subsection 3.1(c) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest apply from such due with respect thereto shall (i) in the case of any L/C Disbursement that date until such reimbursement is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph subsection 2.6(h) shall be for the account of the applicable LC Facility Issuing Bank, Bank except that interest accrued on and after the date of payment by any U.S. Revolving LC Facility Lender pursuant to paragraph (esubsection 2.6(e)(ii) of this Section to reimburse such the LC Facility Issuing Bank shall be for the account of such U.S. Revolving LC Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Servicemaster Co)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. Borrower applicable Applicant Party shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower applicable Applicant Party reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Loans; Loans provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under that is a Foreign Currency Euro Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency Euros and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time time; and (ii) in the case of any L/C Disbursement that is reimbursed after the date provided, further, that, if such L/C Disbursement is required not reimbursed by the applicable Applicant Party when due pursuant to be reimbursed under paragraph (e) of this Section, (Athen Section 2.13(c) be payable in Dollarsshall apply, (B) accrue interest on with the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such rate per annum for L/C Disbursement was made, Disbursements made in respect of such L/C Disbursement, (C) bear interest at a CL Letter of Credit from the date any payment is made to the Issuing Lender on behalf of the CL Lenders shall be 2% in excess of the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyTerm Loans. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender or by or on behalf of any CL Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender or CL Lender, as the case may be, to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (BCP Crystal Holdings Ltd. 2)

Interim Interest. If an any Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; , provided that, that if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph clause (e) of this SectionSection 2.05, then Section 2.13(d2.12(c) shall apply; provided, further, provided further that, in the case of a L/C any LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Eurodollar Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in Dollarsdollars, (B) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C LC Disbursement was made, of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.12(c). Interest accrued pursuant to this paragraph clause shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph clause (e) of this Section 2.05 to reimburse such the Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.. 4156-0326-0209

Appears in 1 contract

Samples: Credit Agreement (Seagate Technology Holdings PLC)

Interim Interest. If an the applicable Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse (including by a Borrowing) such L/C LC Disbursement in full on not later than the first Business Day following the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving LoansLoans under the applicable Revolving Facility; provided that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e‎(e) of this Section, then Section 2.13(d) ‎Section 2.08 shall apply; provided, further, provided further that, in the case of a L/C an LC Disbursement made under a Foreign Currency Letter of CreditCredit in an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Eurodollar Revolving Loans under the applicable Revolving Facility at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, Amount of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyas provided above. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (eclause ‎(e) of this Section ‎Section 2.02 to reimburse such the applicable Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Delta Air Lines Inc /De/)

Interim Interest. If an the applicable Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse (including by a Borrowing) such L/C LC Disbursement in full on not later than the first Business Day following the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Revolving LoansLoans under the applicable Revolving Facility (or with respect to the LC Tranche Facility, as if Revolving Loans were available thereunder in the same manner as provided for in Section 2.04 with respect to the 3-Year2024 Revolving Facility); provided that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) 2.08 shall apply; provided, further, provided further that, in the case of a L/C an LC Disbursement made under a Foreign Currency Letter of CreditCredit in an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C LC Disbursement plus the Applicable Margin applicable to Eurocurrency Eurodollar Revolving Loans under the applicable Revolving Facility at such time (or with respect to the LC Tranche Facility, as if Revolving Loans were available thereunder in the same manner as provided for in Section 2.04 with respect to the 3-Year2024 Revolving Facility) and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, Amount of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyas provided above. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph clause (e) of this Section 2.02 to reimburse such the applicable Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Delta Air Lines, Inc.)

Interim Interest. (i) If an Issuing Bank Lender shall make any L/C Financial LC Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Financial LC Disbursement in full on the date such L/C Financial LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Financial LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Financial LC Disbursement, at the rate per annum then applicable to ABR Revolving Loans; provided that, if such L/C Disbursement is not reimbursed by the U.S. Borrower fails to reimburse such Financial LC Disbursement (including any interim interest incurred in connection with such Financial LC Disbursement pursuant to this paragraph) when due pursuant to paragraph (e) of this SectionSection 2.5(e)(i), then Section 2.13(d2.15(c) shall apply; provided, further, provided further that, in the case of a L/C Financial LC Disbursement made under a Foreign an Alternative Currency Letter of Credit, the amount of interest due with respect thereto shall (iA) in the case of any L/C Financial LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionFinancial LC Disbursement, (A1) be payable in an amount equal to the Dollar Equivalent, calculated using the applicable Foreign Currency Exchange Rate on the date such Financial LC Disbursement is made, of such Financial LC Disbursement and (B2) if not reimbursed on the date of such Financial LC Disbursement, bear interest at a rate equal to the rate reasonably determined by Bank of America, in its capacity as the applicable Issuing Bank Lender, to be the cost to such Issuing Bank Lender of funding such L/C Financial LC Disbursement plus the Applicable Margin Rate applicable to Eurocurrency Revolving Loans that are Term SOFR Loans at such time and (iiB) in the case of any L/C Financial LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C Financial LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A1) be payable in Dollars, (B2) accrue interest on the Dollar Equivalent, determined calculated using the Exchange Rates calculated as of on the date such L/C Financial LC Disbursement was made, of such L/C Disbursement, Financial LC Disbursement and (C3) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Loans, subject to Section 2.13(d) shall apply2.15(c). Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (eSection 2.5(e)(i) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (SPX Technologies, Inc.)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. applicable Borrower reimburses such L/C LC Disbursement, (i) in the case of any LC Disbursement denominated in US Dollars, and at all times following the conversion to US Dollars of an LC Disbursement made in an Alternative Currency pursuant to paragraph (e) of this Section, at the rate per annum then applicable to ABR Revolving Loans; provided that, if the Company fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.12(e) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall apply and (iii) in the case of any L/C Disbursement that is reimbursed on or before the date if such L/C LC Disbursement is required made in an Alternative Currency, at all times prior to be reimbursed under its conversion to US Dollars pursuant to paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C LC Disbursement plus the Applicable Margin Rate applicable to Eurocurrency LIBOR Revolving Loans or EURIBOR Revolving Loans, as the case may be, at such time and (ii) in time; provided that, if the case of any L/C applicable Borrower fails to reimburse such LC Disbursement that is reimbursed after the date such L/C Disbursement is required when due pursuant to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.12(e) shall apply. Interest accrued pursuant to this paragraph shall be paid to the Applicable Agent, for the account of the applicable Issuing Bank, Bank (except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be paid to the Applicable Agent for the account of such U.S. Revolving Facility Lender pro rata to the extent of such payment), and shall be payable on demand or, if no demand has been made, on the date on which the applicable Borrower reimburses the applicable LC Disbursement in full.

Appears in 1 contract

Samples: Credit Facility Agreement (Albany International Corp /De/)

Interim Interest. If an Issuing Bank shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving LoansLoans (in the event of Revolving L/C Disbursements) or at the ABR plus the Synthetic L/C Applicable Margin applicable to ABR Revolving Loans (in the event of Synthetic L/C Disbursements); provided provided, that, if such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.13(c) shall apply; provided, further, provided further that, in the case of a an L/C Disbursement made under a Foreign Currency Letter of CreditCredit in an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionDisbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such L/C Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans (in the event of Revolving L/C Disbursements) or plus the Synthetic L/C Applicable Margin applicable to Eurocurrency Revolving Loans (in the event of Synthetic L/C Disbursement) at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of Business Day immediately succeeding such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Realogy Holdings Corp.)

Interim Interest. If an any Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. Borrower Company shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, reimbursement is due and payable at the rate per annum then applicable to ABR Revolving LoansLoans and such interest shall be due and payable on the date when such reimbursement is payable; provided that, if the Company fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.11(d) shall apply; provided, further, further that, in the case of a L/C an LC Disbursement made under a Foreign Currency Letter of CreditCredit in an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C LC Disbursement plus the Applicable Margin Rate applicable to Eurocurrency Revolving Term SOFR Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, Equivalent of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyas provided above. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Sherwin Williams Co)

Interim Interest. If an Issuing Bank the L/C Issuer for any standby Letter of Credit shall make any L/C Disbursement, then, unless the U.S. Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Base Rate Loans; provided that, that if the Borrower fails to reimburse such L/C Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph clause (ef) of this SectionSection 2.03, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.08(b) shall apply. Interest accrued pursuant to this paragraph clause (o) shall be for the account of the applicable Issuing BankL/C Issuer, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph clause (ef) of this Section 2.03 to reimburse such Issuing Bank the L/C Issuer shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.. (p) Replacement of the L/C Issuer. The L/C Issuer may be replaced at any time by written agreement between the Borrower, the Administrative Agent, the replaced L/C Issuer and the successor L/C Issuer. The Administrative Agent shall notify the Lenders of any such replacement of the L/C Issuer. At the time any such replacement shall become effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced L/C Issuer pursuant to Section 2.03(m). From and after the effective date of any such replacement, (i) the successor L/C Issuer shall have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term “L/C Issuer” shall be deemed to include such successor or any previous L/C Issuer, or such successor and all previous L/C Issuer, as the context shall require. After the replacement of the L/C Issuer hereunder, the replaced L/C Issuer shall remain a party hereto and shall continue to have all the rights and obligations of an L/C Issuer under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. (q) Cash Collateralization. 46

Appears in 1 contract

Samples: Credit Agreement (Alamo Group Inc)

Interim Interest. If an any Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. relevant Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to to, but excluding excluding, the date that the U.S. such Borrower reimburses such L/C LC Disbursement, (i) in the case of LC Disbursements made in Dollars, at the rate per annum then applicable to Revolving ABR Revolving Loans, (ii) in the case of LC Disbursements made in euros, at the rate per annum then applicable to EURIBOR Rate Loans, (iii) in the case of LC Disbursements made in Sterling, at the rate per annum then applicable to XXXXX Loans and (iv) in the case of LC Disbursements made in any other Alternative Currency, at the overnight London interbank offered rate for the relevant Alternative Currency determined by the Administrative Agent in good faith plus the Applicable Rate per annum then applicable to Eurocurrency Borrowings; provided that, if such L/C Borrower fails to reimburse such LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this SectionSection 2.06(f), then Section 2.13(d2.13(e) shall apply; provided, further, that, in . In the case of a L/C Disbursement LC Disbursements made under a Foreign Currency Letter of Creditin an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Alternative Currency; provided that, if the Borrower’s payment obligation with respect to an LC Disbursement made in an Alternative Currency and (Bhas been converted pursuant to Section 2.06(f) bear into an obligation to pay the Dollar Equivalent of such amount, then interest at a rate payable thereon shall be payable in Dollars in the amount equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyEquivalent thereof. Interest accrued pursuant to this paragraph shall be for the account of the applicable such Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (eSection 2.06(e) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Brunswick Corp)

Interim Interest. If an any Issuing Bank Lender shall make any L/C LC Disbursement, then, unless the U.S. Borrower Company shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C Disbursement, reimbursement is due and payable at the rate per annum then applicable to ABR Revolving LoansLoans and such interest shall be due and payable on the date when such reimbursement is payable; provided that, if the Company fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d2.11(f) shall apply; provided, further, further that, in the case of a L/C an LC Disbursement made under a Foreign Currency Letter of CreditCredit in an Alternative Currency, the amount of interest due with respect thereto shall (i) in the case of any L/C LC Disbursement that is reimbursed on or before the date Business Day immediately succeeding such L/C Disbursement is required to be reimbursed under paragraph (e) of this SectionLC Disbursement, (A) be payable in the applicable Foreign Alternative Currency and (B) if not reimbursed on the date of such LC Disbursement, bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank Lender to be the cost to such Issuing Bank Lender of funding such L/C LC Disbursement plus the Applicable Margin Rate applicable to Eurocurrency Revolving Term SOFR Loans at such time and (ii) in the case of any L/C LC Disbursement that is reimbursed after the date Business Day immediately succeeding such L/C LC Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, Equivalent of such L/C Disbursement, LC Disbursement and (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall applyas provided above. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing BankLender, except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank Lender shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.

Appears in 1 contract

Samples: Credit Agreement (Sherwin Williams Co)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. applicable Borrower shall reimburse such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower (or any other account party) reimburses such L/C LC Disbursement, at the rate per annum then applicable to ABR Base Rate Revolving LoansLoans under the applicable Revolving Facility; provided that, if a Borrower fails to reimburse (or cause another account party to reimburse) such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this SectionSection 2.04(e), then Section 2.13(d2.11(c) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest apply from such due with respect thereto shall (i) in the case of any L/C Disbursement that date until such reimbursement is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, Bank making such LC Disbursement except that interest accrued on and after the date of payment by any U.S. Revolving Facility Lender pursuant to paragraph (eSection 2.04(e)(ii) of this Section to reimburse such an Issuing Bank shall be for the account of such U.S. Revolving Facility Lender to the extent of such payment.. (i) Replacement of Issuing Banks; Limitation on Obligations of Issuing Banks to Act in Such Capacities. (i) An Issuing Bank may be replaced at any time by written agreement among the U.S. Borrower, the Agent, the replaced Issuing Bank and the successor Issuing Bank. The Agent shall notify the Revolving Lenders of any such replacement of an Issuing Bank. At the time any such replacement shall become effective, each Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.10. From and after the effective date of any such replacement, (1) the successor Issuing Bank shall have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (2) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of the Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit or to amend or extend any previously issued Letters of Credit. (ii) Notwithstanding anything in this Agreement to the contrary, each Issuing Bank shall have the right, by notice to the Borrower, to decline to act as an Issuing Bank for any New Revolving Facility established following the Closing Date with a Scheduled Termination Date after the Scheduled Termination Date for the Revolving Facilities in effect on the Closing Date. In the event any Issuing Bank declines to act in such capacity, the Borrower may, with the consent of the replacement Issuing Bank, as applicable, appoint a financial institution reasonably satisfactory to the Agent to act in such capacity for such New Revolving Facility. (j)

Appears in 1 contract

Samples: Credit Agreement (Aramark)

Interim Interest. If an Issuing Bank shall make any L/C LC Disbursement, then, unless the U.S. Borrower shall reimburse or refinance such L/C LC Disbursement in full on the date such L/C LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C LC Disbursement is made to but excluding the date that the U.S. Borrower reimburses such L/C LC Disbursement, at the a rate per annum (computed in accordance with Section 2.13(e)) equal to (i) with respect to any unreimbursed Revolving LC Disbursement, (A) as to the portion thereof equal to the product of (x) the amount of such unreimbursed Revolving LC Disbursement and (y) the sum of the Applicable Aggregate Revolving Percentages of all the Tranche 1 Revolving Lenders attributable to their Tranche 1 Revolving Commitments, the rate then applicable to ABR Tranche 1 Revolving Loans and (B) as to the portion thereof equal to the product of (x) the amount of such unreimbursed Revolving LC Disbursement and (y) the sum of the Applicable Aggregate Revolving Percentages of all the Revolving Lenders of any single other Class attributable to their Revolving Commitments of such Class, the rate then applicable to ABR Revolving Loans of such Class, and (ii) with respect to each Synthetic LC Disbursement, (A) as to the portion thereof equal to the product of (x) the amount of such unreimbursed Synthetic LC Disbursement and (y) the sum of the Applicable Aggregate Synthetic LC Percentages of all the Tranche 1 Synthetic LC Lenders attributable to their Tranche 1 Synthetic LC Commitments, the rate then applicable to ABR Tranche 1 Term Loans, and (B) as to the portion thereof equal to the product of (x) the amount of such unreimbursed Synthetic LC Disbursement and (y) the sum of the Applicable Aggregate Synthetic LC Percentages of all the Synthetic LC Lenders of any single other Class attributable to their Synthetic LC Commitments of such Class, the rate specified in the applicable Additional Tranche Amendment; provided that, if the Borrower fails to reimburse such L/C LC Disbursement is not reimbursed by the U.S. Borrower when due pursuant to paragraph (e) of this Section, then Section 2.13(d) shall apply; provided, further, that, in the case of a L/C Disbursement made under a Foreign Currency Letter of Credit, the amount of interest due with respect thereto shall (i) in the case of any L/C Disbursement that is reimbursed on or before the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in the applicable Foreign Currency and (B) bear interest at a rate equal to the rate reasonably determined by the applicable Issuing Bank to be the cost to such Issuing Bank of funding such L/C Disbursement plus the Applicable Margin applicable to Eurocurrency Revolving Loans at such time and (ii) in the case of any L/C Disbursement that is reimbursed after the date such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, (B) accrue interest on the Dollar Equivalent, determined using the Exchange Rates calculated as of the date such L/C Disbursement was made, of such L/C Disbursement, (C) bear interest at the rate per annum then applicable to ABR Revolving Loans and (D) Section 2.13(d2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any U.S. Revolving Facility LC Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such U.S. Revolving Facility LC Lender to the extent of such paymentpayment (it being agreed that the rate at which such interest shall be deemed to accrue for the account of the LC Lenders of any Class shall correspond to the rate at which, pursuant to the next preceding sentence, interest accrues on the portion of the applicable unreimbursed LC Disbursement equal to the product of (x) the amount of such LC Disbursement and (y) the sum of the Applicable Aggregate Revolving Percentages or the Applicable Aggregate Synthetic LC Percentages, as the case may be, of all the LC Lenders of such Class).

Appears in 1 contract

Samples: First Lien Intercreditor Agreement (Healthsouth Corp)

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