Common use of Payments to Ex-Im Bank Clause in Contracts

Payments to Ex-Im Bank. (i) Notwithstanding Section 2.04(a), the Lender shall require that, if Ex-Im Bank shall have made a claim payment to the Lender with respect to any Floating Rate Note, then beginning on the date of such claim payment, Special LIBOR shall apply to each such Floating Rate Note (in place of the Reference Rate contained in each such Floating Rate Note) for all purposes and each such Floating Rate Note shall bear interest at a rate equal to the greater of (A) Special LIBOR and (B) Special LIBOR plus the Margin. (ii) Notwithstanding any provision of any Credit Agreement or any provision of a Note, which in either case provides for the payment of additional or penalty interest on any amounts of principal, accrued interest, fees or other amounts owing to the Lender that are unpaid and overdue, the Lender shall require in each Transaction that, if Ex-Im Bank shall have made a claim payment to the Lender with respect to any Note subject to either the Accelerated Payment Method or the Installment Payment Method, then beginning on the date of such claim payment, if any amount of principal of or accrued interest on any Note then owing to Ex-Im Bank is not paid in full when due, whether at stated maturity, by acceleration or otherwise, the Borrower shall pay to Ex-Im Bank on demand interest on such unpaid amount (to the extent permitted by applicable law) for the period from the date such amount was due to Ex-Im Bank until such amount shall have been paid in full at an interest rate per annum equal to one percent (1%) per annum above the interest rate then applicable under Section 2.04(a) (as modified, if required, by 2.04(b)(i)).

Appears in 4 contracts

Samples: Master Guarantee Agreement, Master Guarantee Agreement, Master Guarantee Agreement

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Payments to Ex-Im Bank. (i) Notwithstanding Section 2.04(a), the Lender Agent shall require that, if Ex-Im Bank shall have made a claim payment to the Lender Agent with respect to any Floating Rate Note, then beginning on the date of such claim payment, Special LIBOR shall apply to each such Floating Rate Note (in place of the Reference Rate contained in each such Floating Rate Note) for all purposes and each such Floating Rate Note shall bear interest at a rate equal to the greater of (A) Special LIBOR and (B) Special LIBOR plus the Margin. (ii) Notwithstanding any provision of any Credit Agreement or any provision of a Note, which in either case provides for the payment of additional or penalty interest on any amounts of principal, accrued interest, fees or other amounts owing to the Lender Agent or the Lenders that are unpaid and overdue, the Lender Agent shall require in each Transaction that, if Ex-Im Bank shall have made a claim payment to the Lender Agent with respect to any Note subject to either the Accelerated Payment Method or the Installment Payment Method, then beginning on the date of such claim payment, if any amount of principal of or accrued interest on any Note then owing to Ex-Im Bank is not paid in full when due, whether at stated maturity, by acceleration or otherwise, the Borrower shall pay to Ex-Im Bank on demand interest on such unpaid amount (to the extent permitted by applicable law) for the period from the date such amount was due to Ex-Im Bank until such amount shall have been paid in full at an interest rate per annum equal to one percent (1%) per annum above the interest rate then applicable under Section 2.04(a) (as modified, if required, by 2.04(b)(i)).

Appears in 1 contract

Samples: Master Guarantee Agreement

Payments to Ex-Im Bank. (i) Notwithstanding Section 2.04(a), the Lender Lessor shall require that, if Ex-Im Bank shall have made a claim payment to the Lender Lessor with respect to any Floating Rate NoteRent, then then, beginning on the date of such claim payment, Special LIBOR shall apply to each such installment of Floating Rate Note (Rent in place of the Reference Rate contained in each such Floating Rate Notethe relevant Lease Agreement or Lease Supplement(s) for all purposes and each such installment of Floating Rate Note Rent shall bear interest at a rate equal to the greater of (A) Special LIBOR and (B) Special LIBOR plus the Margin. (ii) Notwithstanding any provision of any Credit a Lease Agreement or any provision of Lease Supplement with respect to a Note, which in either case provides Credit providing for the payment of additional or penalty interest on any amounts of principal, accrued interestrent, fees or other unpaid and overdue amounts owing to the Lender that are unpaid and overdueLessor, the Lender shall require in each Transaction the Lessor shall require that, if Ex-Im Ex- Im Bank shall have made a claim payment to the Lender with respect to any Note subject to either the Accelerated Payment Method or the Installment Payment MethodLessor, then then, beginning on the date of such claim payment, if any amount of principal of or accrued interest on any Note Guaranteed Rent then owing to Ex-Im Bank is not paid in full when due, whether at stated maturity, by acceleration or termination or otherwise, the Borrower Lessee shall pay to Ex-Im Bank on demand interest on such unpaid amount (to the extent permitted by applicable law) for the period from the date such amount was due to Ex-Im Bank until such amount shall have been paid in full at an interest rate per annum equal to one percent (1%) per annum above the interest rate then applicable under Section 2.04(a) Guaranteed Interest Rate (as modified, if required, by 2.04(b)(i)).

Appears in 1 contract

Samples: Master Guarantee Agreement

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Payments to Ex-Im Bank. (i) Notwithstanding Section 2.04(a), the Lender shall require that, if Ex-Im Bank shall have made a claim payment to the Lender with respect to any Floating Rate Note, then then, beginning on the date of such claim payment, Special LIBOR shall apply to each such Floating Rate Note (in place of the Reference Rate contained in each such Floating Rate Note) Notes for all purposes and each such Floating Rate Note shall bear interest at a rate equal to the greater of (A) Special LIBOR and (B) Special LIBOR plus the Margin. (ii) Notwithstanding any provision of any a Note or a Credit Agreement or any provision of with respect to a Note, which in either case provides Credit providing for the payment of additional or penalty interest on any amounts of principal, accrued interest, fees or other unpaid and overdue amounts owing to the Lender that are unpaid and overdueLender, in each Transaction the Lender shall require in each Transaction that, if Ex-Im Bank shall have made a claim payment to the Lender with respect to any Note subject to either the Accelerated Payment Method or the Installment Payment Method, then then, beginning on the date of such claim payment, if any amount of principal of of, or accrued interest on on, any Note then owing to Ex-Im Bank is not paid in full when due, whether at stated maturity, by acceleration or otherwise, the Borrower shall pay to Ex-Im Bank on demand interest on such unpaid amount (to the extent permitted by applicable law) for the period from the date such amount was due to Ex-Im Bank until such amount shall have been paid in full at an interest rate per annum equal to one percent (1%) per annum above the interest rate then applicable under Section 2.04(a) (as modified, if required, by 2.04(b)(i)).

Appears in 1 contract

Samples: Master Guarantee Agreement

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