Common use of Pro rata interest settlement Clause in Contracts

Pro rata interest settlement. (a) If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 22.5 (Procedure for Transfer or any assignment pursuant to Clause 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 favor of the Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six-Monthly intervals after the first day of that Interest Period); and (ii) the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts so that, for the avoidance of doubt:

Pro rata interest settlement. (a) If the Agent has notified the Lenders Creditors that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders Creditors and New Lenders Creditors then (in respect of any transfer pursuant to Clause 22.5 25.5 (Procedure for Transfer transfer) or any assignment pursuant to Clause 22.6 25.6 (Procedure for Assignmentassignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (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 favor favour of the Existing Lender Creditor up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender Creditor (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six-six Monthly intervals after the first day of that Interest Period); and (iib) the rights assigned or transferred by the Existing Lender Creditor will not include the right to the Accrued Amounts so that, for the avoidance of doubt:

Pro rata interest settlement. (a) If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “"pro rata basis” " to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 22.5 28.5 (Procedure for Transfer transfer) or any assignment pursuant to Clause 22.6 28.6 (Procedure for Assignmentassignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (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 favor favour of the Existing Lender up to but excluding the Transfer Date (“"Accrued Amounts”") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six-six Monthly intervals after the first day of that Interest Period); and (iib) the The rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt:

Pro rata interest settlement. (a) If the Facility Agent has notified the Lenders that it is able to distribute interest payments on a “"pro rata basis” " to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 22.5 28.5 (Procedure for Transfer transfer) or any assignment pursuant to Clause 22.6 28.6 (Procedure for Assignmentassignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): (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 favor favour of the Existing Lender up to but excluding the Transfer Date (“"Accrued Amounts”") and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six three Months, on the next of the dates which falls at six-three Monthly intervals after the first day of that Interest Period); and (iib) the The rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts Amounts, so that, for the avoidance of doubt: