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 novation under Clause 29.5 (Procedure for novation) or any assignment under Clause 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): (i) 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 (ii) the rights assigned or novated by the Existing Lender will not include the right to the Accrued Amounts, so that: (A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and (B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.9, have been payable to it on that date, but after deduction of the Accrued Amounts. (b) In this Clause 29.9 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 under this Clause 29.9 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: Syndicated Facility Agreement (Metals Acquisition LTD), Syndicated Facility Agreement (Metals Acquisition 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 novation under transfer pursuant to Clause 29.5 23.6 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.923.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 23.9 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 under pursuant to this Clause 29.9 23.9 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 Facilities Agreement (Compagnie Maritime Belge NV), Bridge Facilities Agreement (Compagnie Maritime Belge NV)
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 novation under assignment pursuant to Clause 29.5 22.2(d) (Conditions of assignment or assignment and transfer by assumption of contract (Vertragsübernahme)) or assignment and transfer by assumption of contract (Vertragsübernahme) pursuant to Clause 22.5 (Procedure for novation) or any assignment under Clause 29.6 and transfer by assumption of contract (Procedure for assignmentVertragsübernahme)) the Assignment Date or Transfer Date Date, respectively, of which, in each case, is after the date of such notification and is not on the last day of an Interest Period):
(ia) 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 Assignment Date or Transfer Date Date, respectively, ("“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 monthly intervals after the first day of that Interest Period); and
(iib) the rights assigned or novated assigned and transferred by assumption of contract (Vertragsübernahme) by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.922.8, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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: Credit Facility Agreement (Sap Ag), Credit Facility Agreement (Sap Ag)
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 novation under transfer pursuant to Clause 29.5 23.6 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.923.11, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 23.11 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 under pursuant to this Clause 29.9 23.11 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: Facility Agreement (Bristow Group Inc.), Facility Agreement (Bristow Group 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 novation under transfer pursuant to Clause 29.5 27.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the The rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.927.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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.
(c) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 27.9 (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 2 contracts
Samples: Term Loan Facility (Global Ship Lease, Inc.), Term Loan Facility (Global Ship Lease, 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 novation under transfer pursuant to Clause 29.5 29.4 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 29.5 (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):
(i) 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
(ii) the The rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.929.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) 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.
(c) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 (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 2 contracts
Samples: Facility Agreement (Okeanis Eco Tankers Corp.), Facility Agreement (Okeanis Eco Tankers 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 novation under transfer pursuant to Clause 29.5 23.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.923.8, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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: Facility Agreement (Delhaize Group), Facility Agreement (Delhaize Group)
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 Lender then (in respect of any novation under transfer pursuant to Clause 29.5 24.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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 Periodnotification):
(ia) 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 next due date for payment 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)interest in accordance with Clause 8.2; and
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those the Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.924.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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: Subordinated Facility Agreement (Diana Containerships Inc.), Subordinated Facility Agreement (Diana Shipping 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 novation under transfer pursuant to Clause 29.5 26.6 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.926.10, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 26.10 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 under pursuant to this Clause 29.9 26.10 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: Amendment and Restatement Agreement (Cboe Global Markets, Inc.), Amendment and Restatement Agreement (Cboe Global Markets, Inc.)
Pro rata interest settlement. (aA) 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 novation under Clause 29.5 transfer pursuant to clause 22.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Aa) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bb) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.9clause 22.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(bB) In this Clause 29.9 clause 22.9 (Pro rata interest settlement) references to "“Interest Period" ” shall be construed to include a reference to any other period for accrual of fees.
(cC) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 clause 22.9 (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 2 contracts
Samples: Revolving Credit Facility Agreement (Kosmos Energy Ltd.), Revolving Credit Facility Agreement (Kosmos Energy Ltd.)
Pro rata interest settlement. (aA) If the Senior Agent has notified the Senior Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Senior Lenders and New Senior Lenders then (in respect of any novation under transfer pursuant to Clause 29.5 24.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(i1) 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 Senior Lender up to but excluding the Transfer Date on a pro-rata temporis basis ("Accrued Amounts") and shall become due and payable to the Existing Senior 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
(ii2) the rights assigned or novated transferred by the Existing Senior Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Aa) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Senior Lender; and
(Bb) the amount payable to the New Senior Lender on that date will be the amount which would, but for the application of this Clause 29.924.7, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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: Securitisation Agreement (Encore Capital Group Inc), Securitization Agreement (Encore Capital Group Inc)
Pro rata interest settlement. (a) If the Interim Facility Agent has notified the Interim Lenders that it is able to distribute interest payments on a "“pro rata basis" ” to Existing Interim Lenders and New Interim Lenders then (in respect of any novation under transfer pursuant to Clause 29.5 22.4 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 22.5 (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):
(i) 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 Interim Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Interim 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
(ii) the rights assigned or novated transferred by the Existing Interim Lender will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Interim Lender; and
(B) the amount payable to the New Interim Lender on that date will be the amount which would, but for the application of this Clause 29.922.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 22.9, references to "“Interest Period" ” shall be construed to include a reference to any other period for accrual of fees.
(c) An Existing Interim Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 22.9 but which does not have a an Interim Commitment shall be deemed not to be a an Interim Lender for the purposes of ascertaining whether the agreement of any specified group of Interim Lenders has been obtained to approve any request for a consent, waiver, amendment or other vote of Interim Lenders under the Interim Finance Documents.
Appears in 2 contracts
Samples: Commitment Letter, Interim Facilities Agreement (Quanex Building Products 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 novation under transfer pursuant to Clause 29.5 24.6 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.924.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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: Supplemental Agreement (Innospec Inc.), Multicurrency Revolving Facility Agreement (Innospec 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 novation under transfer pursuant to Clause 29.5 25.6 (Procedure for novationTransfers) or any assignment under pursuant to Clause 29.6 25.7(c)(i) (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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; andand
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.925.10(a), have been payable to it on that date, but after deduction of the Accrued Amounts.
(bc) In this Clause 29.9 25.10 references to "“Interest Period" ” shall be construed to include a reference to any other period for accrual of fees.
(cd) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 25.10(a) 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: Unsecured NGN Term Facility Agreement (IHS Holding LTD), Unsecured NGN Revolving Credit Facility Agreement (IHS Holding 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 novation under transfer pursuant to Clause 29.5 27.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(ia) 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(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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.927.8, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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: Senior Secured Credit Facilities Agreement, Senior Secured Credit Facilities Agreement (KNOT Offshore Partners LP)
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 novation under Clause 29.5 clause 26.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(i) 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
(ii) the rights assigned or novated by the Existing Lender will not include the right to the Accrued Amounts, so that:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; andand Loan Note Subscription Agreement | DLA Piper | 112
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.9clause 26.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 clause 26.9, references to "Interest Period" 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 under this Clause 29.9 clause 26.9 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: Loan Note Subscription Agreement (Metals Acquisition LTD), Loan Note Subscription Agreement (Metals Acquisition Corp)
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 novation under transfer pursuant to Clause 29.5 32.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(ia) 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
(iib) the The rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.932.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 references to "Interest Period" shall be construed to include a reference to any other period for accrual of fees.. 138 EUROPE/73091764v9
(c) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 32.9 (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 1 contract
Samples: Term, Revolving and Accordion Facilities Agreement (Ardmore Shipping 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 novation under transfer pursuant to Clause 29.5 22.6 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 22.7 (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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.922.10, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 22.10 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 under pursuant to this Clause 29.9 22.10 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.a
Appears in 1 contract
Samples: Bridge Facility Agreement
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 novation under transfer pursuant to Clause 29.5 28.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the The rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.928.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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.
(c) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 28.9 (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 1 contract
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 novation under transfer pursuant to Clause 29.5 33.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.935, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Samples: Credit Agreement (Axa Financial Inc)
Pro rata interest settlement. (a) If the Facilities 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 novation under transfer pursuant to Clause 29.5 28.2 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.928.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Samples: Facilities Agreement (Carnival PLC)
Pro rata interest settlement. (a) If the Facilities 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 novation under transfer pursuant to Clause 29.5 29.2 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.929.8, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Samples: Multicurrency Revolving Facilities Agreement (Carnival 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" basis to Existing Lenders and New Lenders then (in respect of any novation under Clause 29.5 transfer pursuant to Subclause 28.4 (Procedure for novation) or any assignment under Clause 29.6 (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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.9Subclause, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Samples: Loan Agreement (Smith & Nephew PLC)
Pro rata interest settlement. (a) If the The Facility Agent has notified the Lenders that it is able to will distribute interest payments amongst the Lenders on a "“pro rata basis" ” to Existing Lenders and New Lenders then (in unless it notifies the Lenders otherwise. In respect of any novation under transfer pursuant to this Clause 29.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignment) 27, 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)::
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.927.5, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 27.5 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 under pursuant to this Clause 29.9 27.5 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 1 contract
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 In respect of any novation under transfer pursuant to Clause 29.5 25.5 (Procedure for novationTransfer) or any assignment under pursuant to Clause 29.6 25.6 (Procedure for assignmentAssignment) 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)::
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.925.9 (Pro Rata Interest Settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 25.9 (Pro Rata Interest Settlement), references to "“Interest Period" shall Periods” will 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 under this Clause 29.9 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 1 contract
Samples: Facility Agreement (IHS Holding LTD)
Pro rata interest settlement. (a) If the Agent has notified the Lenders Issuing Banks that it is able to distribute interest payments on a "“pro rata basis" ” to Existing Lenders Issuing Banks and New Lenders Issuing Banks then (in respect of any novation under transfer pursuant to Clause 29.5 19.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 19.6 (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):
(i) 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 Issuing Bank up to but excluding the Transfer Date ("“Accrued Amounts"”) and shall become due and payable to the Existing Lender Issuing Bank (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
(ii) the rights assigned or novated transferred by the Existing Lender Issuing Bank will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing LenderIssuing Bank; and
(B) the amount payable to the New Lender Issuing Bank on that date will be the amount which would, but for the application of this Clause 29.919.8 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 19.8 (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 under this Clause 29.9 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 1 contract
Samples: Amendment and Restatement Agreement (Tower Group International, Ltd.)
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 novation under transfer pursuant to Clause 29.5 28.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the The rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.928.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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.
(c) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 28.9 (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 1 contract
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 novation under transfer pursuant to Clause 29.5 24.6 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.924.10, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 24.10 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 under pursuant to this Clause 29.9 24.10 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 1 contract
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 novation under transfer pursuant to Clause 29.5 22.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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 PeriodPayment Date):
(ia) 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;
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.922.7, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
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 novation under assignment pursuant to Clause 29.5 21.2(d) (Conditions of assignment or assignment and transfer by assumption of contract (Vertragsübernahme)) or assignment and transfer by assumption of contract (Vertragsübernahme) pursuant to Clause 21.5 (Procedure for novation) or any assignment under Clause 29.6 and transfer by assumption of contract (Procedure for assignmentVertragsübernahme)) the Assignment Date or Transfer Date Date, respectively, of which, in each case, is after the date of such notification and is not on the last day of an Interest Period):
(ia) 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 Assignment Date or Transfer Date Date, respectively, ("“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 monthly intervals after the first day of that Interest Period); and
(iib) the rights assigned or novated assigned and transferred by assumption of contract (Vertragsübernahme) by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.921.8, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Pro rata interest settlement. (aA) 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 novation under Clause 29.5 transfer pursuant to clause 30.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Aa) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bb) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.9clause 30.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(bB) In this Clause 29.9 clause 30.9 (Pro rata interest settlement) references to "“Interest Period" ” shall be construed to include a reference to any other period for accrual of fees.
(cC) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 clause 30.9 (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 1 contract
Samples: Deed of Amendment and Restatement (Kosmos Energy Ltd.)
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 novation under transfer pursuant to Clause 29.5 31.6 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.9Clause, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Samples: Facility and Subscription Agreement (BHP Billiton 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 novation under transfer pursuant to Clause 29.5 21.6 (Procedure for novationTransfer) or any assignment under pursuant to Clause 29.6 21.5 (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):
(i) 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 Interest Payment Date in respect 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.921.8, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 21.8 references to "“Interest Period" ” and/or “Interest Payment Date” shall be construed to include a reference to any other period or payment date for accrual of fees.
(c) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 21.8 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 1 contract
Samples: Amendment and Restatement Agreement (Atlas Investissement)
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 novation under transfer pursuant to Clause 29.5 28.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.928.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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.
(c) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 28.9 (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 1 contract
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 novation under transfer pursuant to Clause 29.5 23.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.923.8, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 23.8 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 under pursuant to this Clause 29.9 23.8 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.
(d) Any assignment or transfer by an Existing Lender to a New Lender shall only be effective if it transfers or assigns the Existing Xxxxxx's share of the Facility pro rata against the Existing Xxxxxx's Available Commitment in respect of the Facility and its participations in Utilisations under the Facility.
Appears in 1 contract
Samples: 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 novation under transfer pursuant to Clause 29.5 21.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.921.8, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 21.8 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 under pursuant to this Clause 29.9 21.8 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 1 contract
Pro rata interest settlement. (a) If the Agent has notified the Lenders and the Company (which it shall be under no obligation to do) that it is able to distribute interest payments on a "“pro rata basis" ” to Existing Lenders and New Lenders then (in respect of any novation under transfer pursuant to Clause 29.5 23.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.923.11, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Pro rata interest settlement. (a) 23.9.1 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 novation under transfer pursuant to Clause 29.5 23.6 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(i) 23.9.1.1 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 6 (six) Months, on the next of the dates which falls at six 6(six) Monthly intervals after the first day of that Interest Period); and
(ii) 23.9.1.2 the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that:, for the avoidance of doubt: Gold Fields_ RCF Table of Contents
(A) 23.9.1.3 when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
(B) 23.9.1.4 the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.923.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) 23.9.2 In this Clause 29.9 23.9, references to "Interest Period" Period shall be construed to include a reference to any other period for the accrual of fees.
(c) 23.9.3 An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 23.9 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 1 contract
Samples: Zar Revolving Credit Facility Agreement (Gold Fields 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 novation under transfer pursuant to Clause 29.5 22.6 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 22.7 (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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.922.10, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 22.10 references to "Interest Period" 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 under pursuant to this Clause 29.9 22.10 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 1 contract
Samples: Facilities Agreement
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 novation under transfer pursuant to Clause 29.5 30.6 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.9Clause, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Samples: Multicurrency Term and Revolving Facilities and Subscription Agreement (BHP Billiton 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 novation under transfer pursuant to Clause 29.5 22.6 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.922.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 22.9 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 under pursuant to this Clause 29.9 22.9 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 1 contract
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 novation under transfer pursuant to Clause 29.5 24.6 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
and (B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.924.11, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 24.11 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 under pursuant to this Clause 29.9 24.11 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 1 contract
Samples: Multicurrency Revolving Facility Agreement (H Lundbeck a S)
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 novation under transfer pursuant to Clause 29.5 21.6 (Procedure for novationTransfer) or any assignment under pursuant to Clause 29.6 21.5 (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):
(i) 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 Interest Payment Date in respect 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.921.8, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 21.8 references to "Interest Period" and/or "Interest Payment Date" shall be construed to include a reference to any other period or payment date for accrual of fees.
(c) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 21.8 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 1 contract
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 novation under transfer pursuant to Clause 29.5 27.4 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 27.5 (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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.927.8 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 27.8 (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 under pursuant to this Clause 29.9 27.8 (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 1 contract
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 novation under transfer pursuant to Clause 29.5 24.6 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.924.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Samples: Loan Agreement (Intercontinental Hotels Group PLC /New/)
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 novation under transfer pursuant to Clause 29.5 32.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(ia) 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
(iib) the The rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; andand
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.932.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under pursuant to this Clause 29.9 32.9 (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 1 contract
Samples: Term and Accordion Facilities Agreement (Ardmore Shipping Corp)
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 novation under transfer pursuant to Clause 29.5 23.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.923.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Pro rata interest settlement. (aA) 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 novation under Clause 29.5 transfer pursuant to clause 30.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Aa) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bb) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.9clause 30.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(bB) In this Clause 29.9 clause 30.9 (Pro rata interest settlement) references to "Interest Period" shall be construed to include a reference to any other period for accrual of fees.
(cC) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 clause 30.9 (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 1 contract
Samples: Loan Agreement (Kosmos Energy 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 In respect of any novation under transfer pursuant to Clause 29.5 22.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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)::
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.922.10, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 22.10 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 under pursuant to this Clause 29.9 22.10 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 1 contract
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 novation under transfer pursuant to Clause 29.5 27.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the The rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.927.10 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 27.10 (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 under pursuant to this Clause 29.9 27.10 (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 1 contract
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 novation under transfer pursuant to Clause 29.5 20.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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)Termination Date; and
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.920.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 20.9 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 under pursuant to this Clause 29.9 20.9 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 1 contract
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" basis to Existing Lenders and New Lenders then (in respect of any novation under transfer pursuant to Clause 29.5 28.3 (Procedure for novation) or any assignment under Clause 29.6 (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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.9Clause, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Samples: Term and Revolving Facilities Agreement (Smith & Nephew 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 novation under transfer pursuant to Clause 29.5 27.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the The rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Aa) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bb) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.927.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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.
(c) An Existing Lender which retains the right to the Accrued Amounts under pursuant to this Clause 29.9 27.9 (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 1 contract
Samples: Facility Agreement (Euroseas Ltd.)
Pro rata interest settlement. (aA) 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 novation under Clause 29.5 transfer pursuant to clause 30.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Aa) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bb) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.9clause 30.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(bB) In this Clause 29.9 clause 30.9 (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 under this Clause 29.9 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 1 contract
Samples: Loan Agreement (Kosmos Energy Ltd.)
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" basis to Existing Lenders and New Lenders then (in respect of any novation under transfer pursuant to Clause 29.5 27.3 (Procedure for novation) or any assignment under Clause 29.6 (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):
(ia) 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.9Clause, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
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 novation under assignment and transfer pursuant to Clause 29.5 29.5 (Procedure for novationassignment and transfer by assumption of contract (Vertragsübernahme)) or any assignment under pursuant to paragraph (c) of Clause 29.6 29.2 (Procedure for assignmentConditions of assignment or assignment and transfer by assumption of contract (Vertragsübernahme)) the Transfer Date or Assignment Date (as the case may be) of which, in each case, is after the date of such notification and is not on the last day of an Interest Period):
(ia) 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 respective Transfer Date or Assignment 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
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Ai) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(Bii) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.929.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Samples: Facility Agreement (Linde PLC)
Pro rata interest settlement. (aA) If the Senior Agent has notified the Senior Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Senior Lenders and New Senior Lenders then (in respect of any novation under transfer pursuant to Clause 29.5 24.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(i1) 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 Senior Lender up to but excluding the Transfer Date ("Accrued Amounts") and shall become due and payable to the Existing Senior 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
(ii2) the rights assigned or novated transferred by the Existing Senior Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(Aa) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Senior Lender; andand EUI-1201462749v32 53
(Bb) the amount payable to the New Senior Lender on that date will be the amount which would, but for the application of this Clause 29.924.7, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Samples: Senior Facility Agreement (Encore Capital Group 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 novation under transfer pursuant to Clause 29.5 24.5 (Procedure for novation) or any assignment under Clause 29.6 (Procedure for assignmenttransfer) 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):
(ia) 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 Months, on the next of the dates which falls at six three Monthly intervals after the first day of that Interest Period); and
(iib) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts (so that:
(A) , for the avoidance of doubt, when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
, and Clauses 13 (BTax Gross-up and Indemnities) and 14 (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 29.9, have been payable to it on that date, but after deduction of the Accrued Amountspayment).
(b) In this Clause 29.9 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 under this Clause 29.9 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 1 contract
Samples: Facilities Agreement (Sappi LTD)
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 novation under transfer pursuant to Clause 29.5 30.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the The rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.930.9 (Pro rata interest settlement), have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 30.9 (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 under pursuant to this Clause 29.9 30.9 (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 1 contract
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 novation under transfer pursuant to Clause 29.5 24.6 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.924.10, have been payable to it on that date, but after deduction of the Accrued Amounts.. APJ/MSXM/076001.00588/80174749.8Page 83
(b) In this Clause 29.9 24.10 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 under pursuant to this Clause 29.9 24.10 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.
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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 novation under transfer pursuant to Clause 29.5 24.6 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.924.10, have been payable to it on that date, but after deduction of the Accrued Amounts.. LRXM/076001.00588/92345437.6Page 83
(b) In this Clause 29.9 24.10 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 under pursuant to this Clause 29.9 24.10 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.
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Samples: Usd 75,000,000 Single Currency Revolving Facility Agreement (StoneX Group Inc.)
Pro rata interest settlement. (a) 21.9.1 If the Initial ACF 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 novation under transfer pursuant to Clause 29.5 21.5 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 21.6 (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):
(i) 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 six–monthly intervals after the first day of that Interest Period); and
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that:
(Aa) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
(Bb) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.921.9, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) 21.9.2 In this Clause 29.9 21.9, 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 under this Clause 29.9 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.
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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 novation under transfer pursuant to Clause 29.5 28.9 (Procedure for novationtransfer) or any assignment under pursuant to Clause 29.6 28.10 (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):
(i) 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
(ii) the rights assigned or novated transferred by the Existing Lender will not include the right to the Accrued Amounts, Amounts so that, for the avoidance of doubt:
(A) when the Accrued Amounts become payable, those Accrued Amounts will be payable to for the account of the Existing Lender; and
(B) the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 29.928.14, have been payable to it on that date, but after deduction of the Accrued Amounts.
(b) In this Clause 29.9 28.14 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 under pursuant to this Clause 29.9 28.14 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.
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