Common use of Stated Interest Clause in Contracts

Stated Interest. Subject to the provisions of Section 2.08(b): (i) each Tranche 1 Revolving Credit Loan that is a Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to Adjusted Eurodollar Rate for such Interest Period plus the Applicable Rate for such Eurodollar Rate Loans; (ii) each Tranche 2 Revolving Credit Loan that is a Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to Adjusted Eurodollar Rate for such Interest Period plus the Applicable Rate for such Eurodollar Rate Loans; (iii) each Tranche 1 Revolving Credit Loan that is a Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing or conversion date at a rate per annum equal to the greater of (A) the Base Rate plus the Applicable Rate for such Base Rate Loan and (B) the Tranche 1 Base Rate Loan Floor Rate; (iv) each Tranche 2 Revolving Credit Loan that is a Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing or conversion date at a rate per annum equal to the greater of (A) the Base Rate plus the Applicable Rate for such Base Rate Loan and (B) the Tranche 2 Base Rate Loan Floor Rate; and (v) each Swing Line Loan and Protective Advance shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the greater of (A) the Base Rate plus the Applicable Rate for Base Rate Loans and Protective Advances and (B) the Base Rate Loan Floor Rate.

Appears in 3 contracts

Samples: Credit Agreement (Polymer Group Inc), Credit Agreement (Dominion Textile (Usa), L.L.C.), Credit Agreement (Dominion Textile (Usa), L.L.C.)

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Stated Interest. Subject to the provisions of Section 2.08(b): 2.06(b), (i) with respect to the Term B-1 Term Facility (A) each Tranche 1 Revolving Credit Loan that is a Eurodollar Rate Loan Loans under such Facility shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the sum of (1) the Adjusted Eurodollar Rate for such Interest Period plus (2) the Applicable Rate for such Eurodollar Rate Loans; (ii) each Tranche 2 Revolving Credit Loan that is a Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to Adjusted Eurodollar Rate for Loans under such Interest Period plus the Applicable Rate for such Eurodollar Rate Loans; (iii) each Tranche 1 Revolving Credit Loan that is a Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing or conversion date at a rate per annum equal to the greater of (A) the Base Rate plus the Applicable Rate for such Base Rate Loan Facility and (B) the Tranche 1 Base Rate Loan Floor Rate; (iv) each Tranche 2 Revolving Credit Loan that is a Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing or conversion date at a rate per annum equal to the greater of (A) the Base Rate plus the Applicable Rate for such Base Rate Loan and (B) the Tranche 2 Base Rate Loan Floor Rate; and (v) each Swing Line Loan and Protective Advance Loans shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the greater sum of (A1) the Base Rate plus (2) the Applicable Rate for Base Rate Loans and Protective Advances under such Facility; (ii) with respect to the Original Revolving Credit Facility (A) each Eurodollar Rate Loans under such Facility shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the sum of (1) the Adjusted Eurodollar Rate for such Interest Period plus (2) the Applicable Rate for Eurodollar Rate Loans under such Facility and (B) Base Rate Loans shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the sum of (1) the Base Rate Loan Floor Rateplus (2) the Applicable Rate for Base Rate Loans under such Facility; and (iii) with respect to any other Facility, (A) each Eurodollar Rate Loans under such Facility shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the sum of (1) the Adjusted Eurodollar Rate for such Interest Period plus (2) the Applicable Rate for Eurodollar Rate Loans under such Facility and (B) Base Rate Loans shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the sum of (1) the Base Rate plus (2) the Applicable Rate for Base Rate Loans under such Facility.

Appears in 1 contract

Samples: Credit Agreement (Healthcare Royalty, Inc.)

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