Costs of Utilisation. 8 Interest
Costs of Utilisation. (a) The rate of interest on each Loan for any day during an Interest Period is the percentage rate per annum which is the aggregate of the applicable:
Costs of Utilisation. 8 Interest Calculation of interest
Costs of Utilisation. 9 RATE SWITCH
Costs of Utilisation. INTEREST Calculation of interest Subject to paragraphs (b) and (c), the rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable: Margin; in the case of Second Lien Facility Loans only, PIK Margin; EURIBOR (in the case of a Loan denominated in Euro) or LIBOR (in the case of a Loan denominated in an Optional Currency); and Mandatory Cost, if any. If Debt Cover in respect of the most recently completed Relevant Period is within a range set out below (as certified in a Compliance Certificate from the Parent in respect of such Relevant Period), then the Margin for each First Lien Facility Loan, Revolving Facility Loan and Second Lien Facility Loan will be the percentage per annum set out below in the column for that Facility opposite that range: Debt Cover First Lien Facility Loan Revolving Facility Loan Margin % p.a. Second Lien Facility Loan Margin % p.a. Greater than or equal to 3.5: 1.00 5.5 9.0 Less than 3.5: 1.00 but greater than or equal to 3.0: 1.00 5.0 8.5 Less than 3.0: 1.00 4.5 8.0 However: any increase or decrease in the Margin for a Loan shall take effect on the date (the “reset date”) which is the first day of the next Interest Period for that Loan following receipt by the Agent of the Compliance Certificate for that Relevant Period pursuant to Clause 26.3 (Financial testing); if, following receipt by the Agent of the annual audited financial statements of the BST Group and related Compliance Certificate, those statements and Compliance Certificate do not confirm the basis for a reduced Margin, then each Margin shall revert to the level based on the Debt Cover as demonstrated by those statements and in accordance with paragraph (b) above;
Costs of Utilisation. INTEREST Calculation of interest Interest on each Loan shall be calculated and paid in the manner set out in the Facility Agreement under which the Loan was made.111 Default interest If the Borrower fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is [•] per cent. per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Intercreditor Agent (acting reasonably). Any interest accruing under this Clause 6.2 shall be immediately payable by the Borrower on demand by the Intercreditor Agent. If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan: the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and the rate of interest applying to the overdue amount during that first Interest Period shall be [•] per cent. per annum higher than the rate which would have applied if the overdue amount had not become due. Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.
Costs of Utilisation
