We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Common use of Pro rata interest settlement Clause in Contracts

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 6 contracts

Samples: Credit Facilities Agreement (Gold Fields LTD), Credit Facility Agreement (Gold Fields LTD), Bridge Facility Agreement (Gold Fields LTD)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 24.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 24.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.924.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 5 contracts

Samples: Facility Agreement (Aon Corp), Multicurrency Revolving Facility Agreement (Luxottica Group Spa), Facility Agreement (Luxottica Group Spa)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 25.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 25.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, . if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.925.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 4 contracts

Samples: Facility Agreement (Marine Harvest ASA), Facility Agreement (Marine Harvest ASA), Facility Agreement (Marine Harvest ASA)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders Transferors and New Lenders then (in respect of any transfer pursuant to Clause 23.5 37.7 (Procedure for transferTransfer Deed) or any assignment pursuant to Clause 23.6 37.6 (Procedure for assignmentAssignments) the Transfer Date date of transfer or assignment of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender Transferor up to but excluding the Transfer Date date of transfer (“Accrued Amounts”) and shall become due and payable to the Existing Lender Transferor (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Monthsmonths, on the next of the dates which falls at six Monthly monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender Transferor will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing LenderTransferor; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.937.14, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 4 contracts

Samples: Senior Facilities Agreement (VMWH LTD), Senior Facilities Agreement (Virgin Media Inc.), Senior Facilities Agreement (Virgin Media Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 27.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 27.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six (6) Months, on the next of the dates which falls at six (6) Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.927.12, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 4 contracts

Samples: Amendment and Restatement Agreement (Nord Anglia Education, Inc.), Revolving Facility Agreement (Nord Anglia Education, Inc.), Revolving Facility Agreement (Nord Anglia Education, Inc.)

Pro rata interest settlement. (a) If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 clause 27.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 clause 27.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six (6) Months, on the next of the dates which falls at six (6) Monthly intervals after the first day of that Interest Period); and (bii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9clause 27.9, have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this clause 27.9, references to Interest Period shall be construed to include a reference to any other period for accrual of fees.

Appears in 4 contracts

Samples: Amendment and Restatement Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.), Amendment and Restatement Agreement (Aegean Marine Petroleum Network Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 30.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 30.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six (6) Months, on the next of the dates which falls at six (6) Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.930.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 4 contracts

Samples: Loan Agreement (International Game Technology PLC), Loan Agreement (International Game Technology PLC), Loan Agreement (International Game Technology PLC)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 29.3 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignmenttransfer by way of novations) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Perioda Term): (a) 29.9.1 any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period Term (or, if the Interest Period Term is longer than six Monthsmonths, on the next of the dates which falls at six Monthly monthly intervals after the first day of that Interest PeriodTerm); and (b) 29.9.2 the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.929.9, have been payable to it on that date, but after deduction of the Accrued Amounts. In this Clause 29.9, references to “Term” shall be construed to include a reference to any other period for accrual of fees.

Appears in 3 contracts

Samples: Multicurrency Revolving Facilities Agreement (PPL Energy Supply LLC), Amendment and Restatement Agreement (PPL Energy Supply LLC), Multicurrency Revolving Facilities Agreement (PPL Energy Supply LLC)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a pro rata basis” basis to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 21.4 (Procedure for transfer) or any assignment pursuant to Clause 23.6 21.5 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such that notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall will continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall will become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.921.6, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 3 contracts

Samples: Facility Agreement, Facility Agreement (Teekay Corp), Facility Agreement (Teekay LNG Partners L.P.)

Pro rata interest settlement. (a) If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 23.6 (Procedure for transfer) or any assignment pursuant to Clause 23.6 23.7 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (bii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.923.10, have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this Clause 23.10 references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees. (c) An Existing Lender which retains the right to the Accrued Amounts pursuant to this Clause 23.10 but which does not have a Commitment shall be deemed not to be a Lender for the purposes of ascertaining whether the agreement of any specified group of Lenders has been obtained to approve any request for a consent, waiver, amendment or other vote of Lenders under the Finance Documents.

Appears in 3 contracts

Samples: Facility Agreement (Bristow Group Inc.), Facility Agreement (Bristow Group Inc.), Facility Agreement (Bristow Group Inc.)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 30.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 30.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the The rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.930.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 3 contracts

Samples: Term Loan Facility (Ardmore Shipping Corp), Term Loan Facility (Dorian LPG Ltd.), Term Loan Facility (Dorian LPG Ltd.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 (Procedure for transfer) clause 28.6 or any assignment pursuant to Clause 23.6 (Procedure for assignment) clause 28.6 the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9clause 28.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 3 contracts

Samples: Senior Facilities Agreement (Luxfer Holdings PLC), Senior Facilities Agreement (Luxfer Holdings PLC), Senior Facilities Agreement (Luxfer Holdings PLC)

Pro rata interest settlement. (a) If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 26.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 26.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (bii) the The rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.926.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this Clause 26.9 (Pro rata interest settlement) references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees. (c) An Existing Lender which retains the right to the Accrued Amounts pursuant to this Clause 26.9 (Pro rata interest settlement) but which does not have a Commitment shall be deemed not to be a Lender for the purposes of ascertaining whether the agreement of any specified group of Lenders has been obtained to approve any request for a consent, waiver, amendment or other vote of Lenders under the Finance Documents.

Appears in 3 contracts

Samples: Facility Agreement (Navios Maritime Partners L.P.), Term Loan Facility (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 31.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 31.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six six-Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.931.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 3 contracts

Samples: Term Facility Agreement (Manchester United PLC), Term Facility Agreement (Manchester United PLC), Revolving Facilities Agreement (Manchester United Ltd.)

Pro rata interest settlement. If the Relevant Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to in accordance with Clause 23.5 (Procedure for transfer) 30.5 or any assignment pursuant to in accordance with Clause 23.6 (Procedure for assignment) 30.6 the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which that are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Monthsmonths, on the next of the dates which that falls at six Monthly monthly intervals after the first day of that such Interest Period); and (b) the rights assigned or transferred by the Existing Lender will shall not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will shall be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will shall be the amount which that would, but for the application of this Clause 23.930.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 3 contracts

Samples: Project Facilities Agreement and Intercreditor Agreement (Pacific Drilling S.A.), Project Facilities Agreement and Intercreditor Agreement (Pacific Drilling S.A.), Amendment and Restatement Agreement (Pacific Drilling S.A.)

Pro rata interest settlement. 24.9.1 If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 24.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 24.6 (Procedure for assignment) the Transfer Date of which, in each case, which is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Monthsthree months, on the next of the dates which falls at six Monthly three monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.924.9, have been payable to it on that date, but after deduction of the Accrued Amounts. 24.9.2 In this Clause 24.9 references to "Interest Period" shall be construed to include a reference to any other period for accrual of fees.

Appears in 2 contracts

Samples: Secured Loan Facility Agreement (Diana Containerships Inc.), Secured Loan Agreement (Diana Containerships Inc.)

Pro rata interest settlement. (A) If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 23.6 (Procedure for transfer) or any assignment pursuant to Clause 23.6 23.7 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a1) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b2) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (ia) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (iib) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.923.10, have been payable to it on that date, but after deduction of the Accrued Amounts. (B) In this Clause 23.10 references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees. (C) An Existing Lender which retains the right to the Accrued Amounts pursuant to this Clause 23.10 but which does not have a Commitment shall be deemed not to be a Lender for the purposes of ascertaining whether the agreement of any specified group of Lenders has been obtained to approve any request for a consent, waiver, amendment or other vote of Lenders under the Finance Documents.

Appears in 2 contracts

Samples: Bridge and Term Facilities Agreement (Rentokil Initial PLC /Fi), Bridge and Term Facilities Agreement (Rentokil Initial PLC /Fi)

Pro rata interest settlement. (a) If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 25.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 25.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (bii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.925.9, have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this Clause 25.9 references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 2 contracts

Samples: Syndication and Amendment Agreement (Igate Corp), Facilities Agreement (Igate Corp)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 21.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 21.5 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (aA) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Monthsmonths, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (bB) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i1) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii2) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.921.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 2 contracts

Samples: Term Facility Agreement (Rockley Photonics Holdings LTD), Support Letter (Rockley Photonics Holdings LTD)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 26.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 26.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.926.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 2 contracts

Samples: Unsecured Uncommitted Revolving Facilities Agreement (Molson Coors Brewing Co), Revolving Facilities Agreement (Molson Coors Brewing Co)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 24.7 (Procedure for transfertransfers) or any assignment pursuant to Clause 23.6 24.8 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six (6) Months, on the next of the dates which falls at six Monthly (6) monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.924.14, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 2 contracts

Samples: Senior Facilities Agreement (Atlas Investissement), Senior Facilities Agreement (Atlas Investissement)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 27.6 (Procedure for transfer) or any assignment pursuant to Clause 23.6 27.7 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six three Months, on the next of the dates which falls at six three Monthly intervals after the first day of that Interest Period); and (b) the The rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.927.10 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 2 contracts

Samples: Term Loan Facility (Ardmore Shipping Corp), Term Loan Facility (Ardmore Shipping Corp)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 27.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 27.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six (6) Months, on the next of the dates which falls at six (6) Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.927.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 2 contracts

Samples: Senior Revolving Facility Agreement (Nord Anglia Education, Inc.), Senior Revolving Facility Agreement (Nord Anglia Education, Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 28.6 (Procedure for transfer) or any assignment pursuant to Clause 23.6 28.7 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.928.11, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 2 contracts

Samples: Revolving Facility Agreement (South Texas Supply Company, Inc.), Revolving Facility Agreement (South Texas Supply Company, Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 27.2 (Transfers by Lenders) or any novation pursuant to Clause 27.4 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignmentnovations) the Transfer Date transfer date of which, in each case, is after the date of such notification and is not on the last day of an Interest Perioda Term): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date transfer date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period Term (or, if the Interest Period Term is longer than six Months, on the next of the dates which falls at six Monthly monthly intervals after the first day of that Interest PeriodTerm); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.927.6, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 2 contracts

Samples: Facility Agreement (Vodafone Group Public LTD Co), Facility Agreement (Vodafone Group Public LTD Co)

Pro rata interest settlement. (a) If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 ‎26.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 26.6‎ (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (bii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9‎26.9, have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this Clause 26 references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 2 contracts

Samples: Facility Agreement (NorthStar Healthcare Income, Inc.), Facility Agreement (Northstar Realty Finance Corp.)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 ‎27.3 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignmentnovations) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) 27.6.1 any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Monthsmonths, on the next of the dates which falls at six Monthly monthly intervals after the first day of that Interest Period); and (b) 27.6.2 the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) 27.6.2.1 when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) 27.6.2.2 the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9‎27.6, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Revolving Credit Facility Agreement (Autoliv Inc)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.923.8, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facility Agreement (Synnex Corp)

Pro rata interest settlement. (a) If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 clause 20.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 clause 20.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (bii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9clause 20.10, have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this clause 20.10 references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Amendment and Restatement Agreement (Hamilton Insurance Group, Ltd.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 32.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 32.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.932.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facility Agreement (WABCO Holdings Inc.)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 26.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 26.6 (Procedure for assignmentassignment ) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) 26.10.1 any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) 26.10.2 the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.926.10 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Borrowing Base Facility Agreement (Transglobe Energy Corp)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 25.4 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six (6) Months, on the next of the dates which falls at six (6) Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.925.6 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Term Loan Facility Agreement (DHT Holdings, Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 (Procedure for transfer) clause 28.6 or any assignment pursuant to Clause 23.6 (Procedure for assignment) clause 28.6 the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9clause 28.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Senior Facilities Agreement (Luxfer Holdings PLC)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 28.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 28.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly (6) monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.928.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Super Senior Revolving Credit Facilities Agreement (Atento S.A.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 23.6 (Procedure for transfer) or any assignment pursuant to Clause 23.6 23.7 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (iviii) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (iiix) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.923.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Senior Secured Bridge Facility Agreement (Ugi Corp /Pa/)

Pro rata interest settlement. If the Agent has notified the Lenders and the Parent Company that it is able to distribute interest payments on a pro rata basis” basis to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 26.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 26.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (aA) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (bB) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.926.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Term Facilities Agreement (Shire PLC)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 28.3 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignmentnovations) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.928.6, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facilities Agreement (Autoliv Inc)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 26.2 (Transfers by Lenders) or any novation pursuant to Clause 26.4 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignmentnovations) the Transfer Date transfer date of which, in each case, is after the date of such notification and is not on the last day of an Interest Perioda Term): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date transfer date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period Term (or, if the Interest Period Term is longer than six Months, on the next of the dates which falls at six Monthly monthly intervals after the first day of that Interest PeriodTerm); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.926.6, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: 5 Year Facility Agreement (Vodafone Group Public LTD Co)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 26.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 26.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.926.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facility Agreement (Gulfmark Offshore Inc)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 24.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 24.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.924.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facility Agreement (Midamerican Energy Holdings Co /New/)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 clause 26.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 clause 26.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9clause 26.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Amendment and Restatement Agreement (Sunrise Senior Living Inc)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 29.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 29.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six six-Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.929.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Revolving Facility Agreement (Manchester United PLC)

Pro rata interest settlement. (a) If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 23.6 (Procedure for transfer) or any assignment pursuant to Clause 23.6 23.7 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six six-Monthly intervals after the first day of that Interest Period); and (bii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.923.10, have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this Clause 23.10 references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Revolving Senior Secured Credit Facility Agreement (Gold Fields LTD)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 22.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 22.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the The rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.922.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Term Loan Facility (DryShips Inc.)

Pro rata interest settlement. 24.9.1 If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 24.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 24.6 (Procedure for assignment) the Transfer Date of which, in each case, which is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Monthsmonths, on the next of the dates which falls at six Monthly monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.924.9, have been payable to it on that date, but after deduction of the Accrued Amounts. 24.9.2 In this Clause 24.9 references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Secured Loan Agreement (DHT Holdings, Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 25.6 (Procedure for transfer) or any assignment pursuant to Clause 23.6 25.7 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding including the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on until the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; , and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.925.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Term Facility Agreement (Enstar Group LTD)

Pro rata interest settlement. (a) If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders Lenders, then (in respect of any transfer pursuant to Clause 23.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignment) ), the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six six-Monthly intervals after the first day of that Interest Period); and (bii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9, have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this Clause 23, references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Mezzanine Facility Agreement (American Realty Capital Global Trust II, Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 (Procedure for transfer) clause 24.5‎ or any assignment pursuant to Clause 23.6 (Procedure for assignment) clause 24.6 the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six 6 Months, on the next of the dates which falls at six 6 Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9clause ‎24.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Sterling Term Facility Agreement (American Realty Capital Global Trust, Inc.)

Pro rata interest settlement. (a) If the Mezzanine Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders Lenders, then (in respect of any transfer pursuant to Clause 23.5 24.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 24.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls fall at six Monthly intervals after the first day of that Interest Period); and (bii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.924.9, have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this Clause 24, references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Mezzanine Facility Agreement (American Realty Capital Global Trust II, Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 28.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 28.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months6 months, on the next of the dates which falls at six Monthly 6 monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.928.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Partners L.P.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 25.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 25.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six (6) Months, on the next of the dates which falls at six (6) Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.925.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facilities Agreement (International Game Technology PLC)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 27.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 27.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour favor of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the The rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.927.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts. (c) In this Clause 27.9 (Pro rata interest settlement) references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Facility Agreement (Scorpio Tankers Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders Lender then (in respect of any transfer pursuant to Clause 23.5 27.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 27.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six 6 Months, on the next of the dates which falls at six 6 Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those the Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.927.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facility Agreement (Diana Containerships Inc.)

Pro rata interest settlement. 25.8.1 If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 25.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignment) For Transfer), the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) 25.8.1.1 any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) 25.8.1.2 the rights assigned ceded or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) 25.8.1.3 when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) 25.8.1.4 the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.925.8, have been payable to it on that date, but after deduction of the Accrued Amounts. 25.8.2 In this Clause 25.8 references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Revolving Facility Agreement (Sibanye Gold LTD)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 25.4 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six three (3) Months, on the next of the dates which falls at six three (3) Monthly intervals after the first day of that Interest Period); and and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.925.6 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Term Loan Facility Agreement (DHT Holdings, Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 25.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 25.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding including the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on until the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; , and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.925.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Revolving Credit Facility Agreement (Enstar Group LTD)

Pro rata interest settlement. (a) If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 24.6 (Procedure for transfer) or any assignment pursuant to Clause 23.6 24.7 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (bii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.924.10, have been payable to it on that date, but after deduction of the Accrued Amounts. APJ/076001.00588/98366820.7Page 83 (b) In this Clause 24.10 references to "Interest Period" shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Single Currency Revolving Facility Agreement (StoneX Group Inc.)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 29.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 29.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the The rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.929.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts. (c) In this Clause 29.9 (Pro rata interest settlement) references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Holdings Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 24.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 24.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.924.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facility Agreement (Best Buy Co Inc)

Pro rata interest settlement. (a) If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 26.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 26.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six (6) Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (bii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.926.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this Clause 26.9 (Pro rata interest settlement) references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Term Loan Facility Agreement (KNOT Offshore Partners LP)

Pro rata interest settlement. 25.8.1 If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 25.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignment) Transfer), the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) 25.8.1.1 any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) 25.8.1.2 the rights assigned ceded or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) 25.8.1.2.1 when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) 25.8.1.2.2 the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.925.8, have been payable to it on that date, but after deduction of the Accrued Amounts. 25.8.2 In this Clause 25.8 references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Revolving Facility Agreement (Sibanye Gold LTD)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 27.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 27.5.3.4 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) 27.9.1 any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) 27.9.2 the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) 27.9.2.1 when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) 27.9.2.2 the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.927.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Term Loan and Multicurrency Revolving Facilities Agreement (AVG Technologies N.V.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) on the relevant Transfer Date, any interest or fees accrued in respect of the relevant participation up to but excluding that Transfer Date and which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender on that Transfer Date, but payment of the Accrued Amounts shall be deferred (without further interest accruing on them) on until the last day of the current Interest Period (or, if the Interest Period is longer than six three (3) Months, on the next of the dates which falls at six three (3) Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts (so that, for the avoidance of doubt: (i) , when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and , and Clauses 12 (iiTax Gross-up and Indemnities) and 13 (Increased Costs) shall apply in relation to a payment of Accrued Amounts as if the amount payable to Existing Lender were a Lender at the New Lender on that date will be the amount which would, but for the application of this Clause 23.9, have been payable to it on that date, but after deduction of the Accrued Amountspayment).

Appears in 1 contract

Samples: Term Loan Facility Agreement (Sappi LTD)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.923.8, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Credit Facility Agreement (Gold Fields LTD)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 27.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 27.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.927.8, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facilities Agreement (Syngenta Ag)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 28.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 28.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the The rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.928.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts. (c) In this Clause 28.9 (Pro rata interest settlement) references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Facility Agreement (Grindrod Shipping Holdings Pte. Ltd.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 26.6 (Procedure for transfer) or any assignment pursuant to Clause 23.6 26.7 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.926.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Senior Term Facilities Agreement (NeoGames S.A.)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders Transferors and New Lenders then (in respect of any transfer pursuant to Clause 23.5 (Procedure for transfer) or any assignment pursuant to this Clause 23.6 (Procedure for assignment) 31 the Transfer Date date of transfer or assignment of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender Transferor up to but excluding the Transfer Date date of transfer (“Accrued Amounts”) and shall become due and payable to the Existing Lender Transferor (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Monthsmonths, on the next of the dates which falls at six Monthly monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender Transferor will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing LenderTransferor; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.931.15 (Pro rata Interest Settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: High Yield Bridge Facilities Agreement (Liberty Global PLC)

Pro rata interest settlement. (a) If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 clause 20.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 clause 20.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (bii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9clause 20.10, have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this clause 20.10 references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Amendment and Restatement Agreement (Hamilton Insurance Group, Ltd.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 25.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 25.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding including the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on until the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; , and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.925.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facilities Agreement (Enstar Group LTD)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders Transferors and New Lenders then (in respect of any transfer pursuant to Clause 23.5 33.6 (Procedure for transferTransfer Deed) or any assignment pursuant to Clause 23.6 33.5 (Procedure for assignmentAssignments) the Transfer Date date of transfer or assignment of which, in each case, is after the date of such notification and is not on the last day of an Interest PeriodPeriod or Term): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender Transferor up to but excluding the Transfer Date date of transfer (“Accrued Amounts”) and shall become due and payable to the Existing Lender Transferor (without further interest accruing on them) on the last day of the current Interest Period or Term (or, if the Interest Period or Term is longer than six Monthsmonths, on the next of the dates which falls at six Monthly monthly intervals after the first day of that Interest PeriodPeriod or Term); and (b) the rights assigned or transferred by the Existing Lender Transferor will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing LenderTransferor; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.933.17 (Pro rata Interest Settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Acquisition Facilities Agreement (Liberty Global PLC)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders Transferors and New Lenders then (in respect of any transfer pursuant to Clause 23.5 26.4 (Procedure for transferTransfer Deed) or any assignment pursuant to Clause 23.6 26.3 (Procedure for assignmentAssignments) the Transfer Date date of transfer or assignment of which, in each case, is after the date of such notification and is not on the last day of an Interest PeriodPeriod or Term): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender Transferor up to but excluding the Transfer Date date of transfer (“Accrued Amounts”) and shall become due and payable to the Existing Lender Transferor (without further interest accruing on them) on the last day of the current Interest Period or Term (or, if the Interest Period or Term is longer than six Monthsmonths, on the next of the dates which falls at six Monthly monthly intervals after the first day of that Interest PeriodPeriod or Term); and (b) the rights assigned or transferred by the Existing Lender Transferor will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing LenderTransferor; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.926.15 (Pro rata Interest Settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Senior Facilities Agreement (Liberty Global PLC)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 28.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 28.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.928.9, have been payable to it on that date, but after deduction of the Accrued Amounts.]

Appears in 1 contract

Samples: Revolving Facilities Agreement (Molson Coors Brewing Co)

Pro rata interest settlement. If the Agent has notified the Lenders Noteholders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders Noteholders and New Lenders Noteholders then (in respect of any transfer pursuant to Clause 23.5 27.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation holding which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender Noteholder up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender Noteholder (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six (6) Months, on the next of the dates which falls at six (6) Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender Noteholder will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing LenderNoteholder; and (ii) the amount payable to the New Lender Noteholder on that date will be the amount which would, but for the application of this Clause 23.927.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Notes Purchase Agreement (Membership Collective Group Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 clause 26.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 clause 26.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding including the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on until the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; , and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9clause 26.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Revolving Credit Facility Agreement (Enstar Group LTD)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 28.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 28.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period):Period):- (a) 28.10.1 any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) 28.10.2 the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt:doubt:- (ia) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (iib) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.928.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Multicurrency Facility Agreement (Gulfmark Offshore Inc)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 28.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 28.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the The rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.928.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts. (c) In this Clause 28.9 (Pro rata interest settlement) references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Term Loan Facility Agreement (Castor Maritime Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 26.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 26.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt:: PRAGUE 2451640 71 (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.926.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Revolving Facilities Agreement (Molson Coors Brewing Co)

Pro rata interest settlement. 21.10.1 If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 21.6 (Procedure for transfer) or any assignment pursuant to Clause 23.6 21.7 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.921.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Revolving Facility Agreement

Pro rata interest settlement. (a) If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 22.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 22.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (ai) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (bii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (iA) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (iiB) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.922.9, have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this Clause 22.9 references to “Interest Period” shall be construed to include a reference to any other period for accrual of fees.

Appears in 1 contract

Samples: Facility Agreement (Digital Landscape Group, Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause clause 23.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 clause 23.2 (Procedure for assignmentConditions of assignment or transfer) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts”Amounts ) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9clause 23.11, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facility Agreement

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 29.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 29.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.929.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Super Senior Revolving Facility Agreement (Orion Engineered Carbons S.a r.l.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 30.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 30.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding including the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Lender (without further interest accruing on them) on until the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; , and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9, 30.10 have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Senior Term and Revolving Facilities Agreement (Inspired Entertainment, Inc.)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 25.5 (Procedure for transfer) transfer or any assignment pursuant to Clause 23.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of to the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.925.8, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Facility Agreement (Imerys S.A.)

Pro rata interest settlement. If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 28.6 (Procedure for transfer) or any assignment pursuant to Clause 23.6 28.7 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.928.11, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Term and Revolving Facilities Agreement (ShangPharma Corp)

Pro rata interest settlement. If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.5 clause 25.5 (Procedure for transfer) or any assignment pursuant to Clause 23.6 clause 25.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (a) any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding including the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on until the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and (b) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt: (i) when the Accrued Amounts become payable, those Accrued Amounts will be payable for the account of the Existing Lender; , and (ii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 23.9clause 25.9, have been payable to it on that date, but after deduction of the Accrued Amounts.

Appears in 1 contract

Samples: Term Facility Agreement (Enstar Group LTD)