Interest Fees and Expenses. 1. (a) Interest on the Revolving Loans shall be payable monthly as of the end of each month and shall be an amount equal to (a) the applicable Chase Bank Rate Margin plus the Chase Bank Rate, per annum, on the average of the net balances owing by the Company to CITBC in the Company's account at the close of each day during such month on balances other than Libor Loans and (b) the applicable Libor Margin plus the applicable Libor on each Libor Loan, on a per annum basis, on the average of the net balances owing by the Company to CITBC in the Company's account in respect of such Libor Loan at the close of each day during such month. In the event of any change in said Chase Bank Rate, the rate under clause (a) above shall change, as of the first of the month following any change, so as to remain equal to the new Chase Bank Rate plus the applicable Chase Bank Rate Margin. In addition, the rate applicable under clause (a) or (b) above shall change based upon any change of the applicable Chase Bank Rate Margin or the Libor Margin; provided that any such change in such a margin such be effective on the first Business Day of the month following the month in which the Company shall have delivered, at least five (5) Business Days before the end of the month, to CITBC the financial statements demonstrating the change in EBITDA giving rise to such change in the margin, and any change in the Libor Margin shall affect only Libor Loans not yet funded as of that date. The rate hereunder shall be calculated based on a 360-day year. CITBC shall be entitled to charge the Company's account at the rate provided for herein when due until all Obligations have been paid in full.
Interest Fees and Expenses. You acknowledge you may not earn any net interest on balances beneficially held in Network Banks via the Deposit Network Service. In the event you have an account at Bank that is interest- bearing, interest will be posted to your account by Bank, subject to the then current Truth in Savings Act disclosures and other terms of the applicable Account. You acknowledge that Bank, StoneCastle and Platform may earn fees and other revenues paid by the Network Banks.
Interest Fees and Expenses. (1) Included in the Budget are projected amounts for (a) interest on the Loans, (b) the Agency Fee, (c) the fees and expenses of the Construction Consultant, Administrative Agent’s counsel and the Title Company and (d) the fees and expenses related to the recording of the Mortgages. Subject to Borrower’s compliance with all of the conditions set forth in Schedule 4 and this Article 4, Lead Borrower may in any Request for Loan Advance request advances for the purpose of paying the aforesaid items due at such time, in which event Administrative Agent shall be authorized and is hereby directed to disburse the amount thereof to the Persons entitled to such payments. Notwithstanding anything to the contrary contained in this Agreement or the other Loan Documents, Lead Borrower shall not have the right to request the advance of any Loans for any items covered by clauses (a) through (d) above to the extent Operating Revenues are available to pay such items.
Interest Fees and Expenses. Receipt by the Administrative Agent, the Arrangers and the Lenders of any interest, fees, and expenses required to be paid on or before the Closing Date, including, but not limited to, the fees set forth in the Fee Letter and all accrued and unpaid interest and fees under the Existing Credit Agreement immediately prior to the Closing Date.
Interest Fees and Expenses. 8.1 Interest on Prime Rate Loans shall be payable monthly, in arrears, to the Lender as of the end of each month and interest on BA Equivalent Loans shall be payable to the Lender on the applicable Expiry Date, in arrears, based on a 365 day year and a 366 day year in the case of a leap year. Interest on Prime Rate Loans shall be an amount equal to the Prime Rate plus three-quarters of one percent (0.75%) per annum on the balance owing by the Borrower to the Lender in the Revolving Loan Account for Prime Rate Loans at the close of each day during such month. In the event of any change in the Prime Rate, the rate hereunder for Prime Rate Loans shall change, as of the date of such change, so as to remain three-quarters of one percent (0.75%) above the Prime Rate. The Lender shall be entitled to charge the Borrower's Revolving Loan Account for any and all fees, costs and expenses incurred by the Lender and permitted to be charged by the Lender under this Financing Agreement at the rate provided for herein for Prime Rate Loans when due until all such Obligations have been indefeasibly paid in full. Upon and after the occurrence of a Default or an Event of Default which is continuing and the giving of any required notice by the Lender in accordance with the provisions hereof, all Obligations shall bear interest at the Default Rate of Interest.
Interest Fees and Expenses. The Pre-Petition First Lien Agent, pursuant to this Order, shall receive from the Debtors, effective upon the occurrence of the Effective Date, (i) current cash payments of all fees and expenses payable to the Pre-Petition First Lien Agent under the First Lien Existing Agreements, including, but not limited to, the reasonable fees and disbursements of counsel promptly upon receipt of invoices therefor and (ii) in accordance with the terms of the First Lien Existing Agreements, all accrued but unpaid interest and fees on any outstanding Pre-Petition First Lien Debt and letters of credit and other fees at the non-default contract rate applicable on the Petition Date (including LIBOR pricing options available in accordance with the First Lien Existing Agreements) under the First Lien Existing Agreements; provided that the Issuing Banks of any letters of credit that are not Assumed Pre-Petition First Lien Obligations shall be entitled to the “Letter of Credit Fees” as set forth in Section 2.04(b)(i) of the Pre-Petition First Lien Credit Agreement at the Applicable Margin for Eurodollar Rate Advances plus Default Interest (each term as defined the Pre-Petition First Lien Credit Agreement); provided further that, without prejudice to the rights of any other party to contest such assertion, the Pre-Petition First Lien Secured Lenders reserve their rights to assert claims for the payment of any other amounts provided for in the First Lien Existing Agreements (subject to the payoff letter dated January 20, 2012 for the First Lien Existing Agreements).
Interest Fees and Expenses. 1. (a) Interest on the Revolving Loans shall be payable monthly as of the end of each month and shall be an amount equal to the lesser of (a) the sum of (i) the Applicable Margin plus the Chase Bank Rate per annum on the average of the net balances owing by each Company to the Agent and/or the Lenders in the Company's Revolving Loan Account at the close of each day during such month on balances other than LIBOR Loans, and (ii) the Applicable Margin, plus the applicable LIBOR on any LIBOR Loan, on a per annum basis, on the average of the net balances owing by the Company to the Agent and/or the Lenders as set forth in the Company's Revolving Loan Account at the close of each day during such month or (b) interest computed in accordance with the provisions of this clause (a) but at the Maximum Legal Rate. The rates hereunder shall be calculated based on a 360-day year. The Agent and the Lenders shall be entitled to charge the Company's Revolving Loan Account at the rate provided for herein when due until all Obligations have been paid in full.
Interest Fees and Expenses. 8.1 (a) Interest on the Revolving Loans, whether bearing interest based on the Chase Bank Rate or LIBOR, shall be payable monthly as of the end of each month. Chase Bank Rate Loans shall be an amount equal to the Chase Bank Rate plus two percent (2.0%) per annum on the average of the net balances owing by the Company to CIT in the Revolving Loan Account at the close of each day during such month. In the event of any change in said Chase Bank Rate, the rate hereunder for Chase Bank Rate Loans shall change, as of the date of such change, so as to remain two percent (2.0%) above the Chase Bank Rate. The rate hereunder for Chase Bank Rate Loans shall be calculated based on a 360-day year. CIT shall be entitled to charge the Company's Revolving Loan Account at the rate provided for herein when due until all Obligations have been paid in full.
Interest Fees and Expenses. 1. Interest on the Revolving Loan and all Acquisition Term Loans shall be payable monthly as of the end of each month and shall be an amount equal to: a) the then Chase Bank Rate less a quarter of one percent, or, at ROA's election, the sum of two and one-quarter percent (2 1/4%) and the Libor, or b) subject to paragraph 3 below, if the Companies' Funded Debt to Net Worth Ratio for the preceding fiscal quarter was less than one to one (1 to 1), the then Chase Bank Rate less one half of one percent, or, at ROA' s election, the sum of one and three-quarters percent ( 1 3/4 /O) and the Libor. Interest shall be computed on a per annum basis on the average of the net balances owing by the Companies at the close of each day during such month. In the event of any change in said Chase Bank Rate, the rate hereunder shall change as of the first of the month following any change; ROA may elect to use Libor as to any new or then outstanding Revolving Loans or Acquisition Term Loans provided x) there is then no Default or unwaived Event of Default and y)ROA has advised the Agent of its election to use Libor and the Libor Period selected no later than three (3) Business Days prior to the proposed borrowing or, in the case of a Libor election with respect to a then outstanding Revolving Loan or Acquisition Term Loan, three (3) Business Days prior to the conversion of any then outstanding Revolving Loans or Acquisition Term Loan to Libor Loans and z) the election and Libor shall be effective, provided there is then no Default or unwaived Event of Default, on the fourth Business Day following said notice. The Libor elections must be for $1,000,000.00 or whole multiples thereof. No more than four (4) Libor elections may be in effect at any one time. The Agent shall be entitled to charge the Collective Loan Account i) at the rate provided for herein when due until all Obligations have been paid in full; ii) the Libor Processing Fee on the effective date of the Libor Election. All rates hereunder shall be calculated based on a 360 day year.
Interest Fees and Expenses. Included in the Project Budget are projected amounts for (i) interest on the Loans (the "Interest Reserve"), (ii) the fees payable to Administrative Agent and the Lenders, (iii) the fees and expenses of the Construction Consultant, Administrative Agent's counsel and the Title Company, and (iv) the fees and expenses related to the recording of the Security Instrument. Borrower hereby authorizes and directs, and no further request shall be necessary from Borrower for, Administrative Agent to disburse the proceeds of any Loan as and when needed to pay (i) interest accrued on the Notes, (ii) the fees payable to Administrative Agent and the Lenders, (iii) the fees and expenses of the Construction Consultant, Administrative Agent's counsel and the Title Company, (iv) any expenses payable in accordance with Section 14.03 and (v) any Date Down Endorsements, notwithstanding that Borrower may not have requested a disbursement of such amounts. Administrative Agent shall give Borrower prompt written notice of any such disbursements. Subject to the provisions of Section 13.03, Administrative Agent in its sole discretion may (but shall not be obligated to do so) make such disbursements authorized under this Section 7.05 notwithstanding that the Loans are not In Balance or that a Default or Event of Default exists under the terms of this Agreement or any other Loan Document. Such disbursements shall constitute a Loan and be added to the principal balance of the Notes, and the Lenders shall make the applicable Loans to fund any such disbursements. The authorization hereby granted is irrevocable, and no further direction or authorization from Borrower is necessary for Administrative Agent to make such disbursements. Retainage. Disbursement of the available proceeds of each Loan with respect only to Hard Costs shall be limited to ninety percent (90%) of the value of the Hard Costs set forth in the applicable Request for Loan Advance; provided, however, that in no event shall such percentage be less than the retainage percentage set forth in any contract or subcontract for such portion of the Improvements (the amounts retained by Administrative Agent pursuant to this Section 7.06(a) being, collectively, the "Retainage"). No Retainage will apply to (i) any Soft Costs or (ii) the General Contractor Fees and general conditions performed by the General Contractor pursuant to the General Contract. Administrative Agent shall advance proceeds of Loans pursuant to a Request for Loan...
