ALLOCATION AND ACCRUAL OF INTEREST Sample Clauses

ALLOCATION AND ACCRUAL OF INTEREST. Pursuant to the Agent's election for periodic funding, the Agent or KCCI may be advancing and may be receiving repayments in respect of Revolving Credit Advances prior to the time the Banks actually advance or are actually repaid Revolving Credit Advances. Each of: (A) KCCI with respect to Settlement Advances, (B) the Agent with respect to Agent Special Advances, and (C) each Bank with respect to the Revolving Credit Advances other than Settlement Advances and Agent Special Advances, shall be entitled to interest at the applicable rate or rates payable under this Agreement accruing on the amount of funds employed by reason of actual Advances by KCCI, the Agent or such Bank. Funds shall be deemed employed by KCCI, the Agent or the Banks, as the case may be, until such time as: (I) in the case of the Agent or KCCI, payments are credited to the Borrower pursuant to Section 2.13 or Collections or Remittances are received by the Agent by reason of deposit to the Borrower Cash Collateral Account and credited to the Borrower pursuant to Sections 5.3 and 5.4 or (II) in the case of a Bank, funds representing such Bank's Ratable Portion of such payment or Collections and Remittances are received by such Bank from the Agent pursuant to Section 2.13(a) of this Agreement.
Sample 1
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ALLOCATION AND ACCRUAL OF INTEREST. Pursuant to the Administrative Agent's election for periodic settlement, the Administrative Agent or NCCF may be advancing and may be receiving repayments in respect of Revolving Credit Loans prior to the time the Revolving Credit Lenders actually advance or are actually repaid Revolving Credit Loans. Each of: (A) NCCF with respect to Swing Line Settlement Loans, (B) the Administrative Agent with respect to Permitted Special Advances, and (C) each Revolving Credit Lender with respect to the Revolving Credit Loans other than Swing Line Settlement Loans and Permitted Special Advances, shall be entitled to interest at the applicable rate or rates payable under this Agreement accruing on the amount of funds employed by reason of actual Loans by NCCF, the Administrative Agent or such Revolving Credit Lender. Funds shall be deemed employed by NCCF, the Administrative Agent or the Revolving Credit Lenders, as the case may be, until such time as: (I) in the case of the Administrative Agent or NCCF, payments are credited to the Borrower pursuant to Section 2.14 or Collections,
Sample 1
ALLOCATION AND ACCRUAL OF INTEREST. Pursuant to the Agent's election for periodic funding, the Agent or NCCF may be advancing, and be receiving repayments in respect of, Revolving Credit Loans prior to the time the Lenders actually advance or actually are repaid in respect of, Revolving Credit Loans. As of each Settlement Date, each of: (A) NCCF with respect to Settlement Loans, (B) the Agent with respect to Agent Special Loans, and (C) each Lender with respect to the Revolving Credit Loans (other than Settlement Loans and Agent Special Loans), shall be entitled to interest accrued at the applicable rate or rates payable under this Agreement on the amount of funds employed by NCCF, the Agent or such Lender. Funds shall be deemed employed by the Agent, NCCF or the Lenders until such time as: (I) in the case of the Agent or NCCF, payments are credited to the Borrower pursuant to Section 2.14 or Collections or Remittances are received by the Agent by reason of deposit to the Cash Concentration Account and credited to the Borrower pursuant to Sections 5.2 and 5.3 or (II) in the case of the Lender, funds representing such Lender's Ratable Portion of such payment or Collections and Remittances are received by such Lender from the Agent pursuant to Section 2.14(a) of this Agreement.
Sample 1

Related to ALLOCATION AND ACCRUAL OF INTEREST

  • Accrual of Interest Each Note will accrue interest at a rate per annum equal to 0.25% (the “Stated Interest”), plus any Additional Interest and Special Interest that may accrue pursuant to Sections 3.04 and 7.03, respectively. Stated Interest on each Note will (i) accrue from, and including, the most recent date to which Stated Interest has been paid or duly provided for (or, if no Stated Interest has theretofore been paid or duly provided for, the date set forth in the certificate representing such Note as the date from, and including, which Stated Interest will begin to accrue in such circumstance) to, but excluding, the date of payment of such Stated Interest; and (ii) be, subject to Sections 4.02(D), 4.03(E) and 5.02(D) (but without duplication of any payment of interest), payable semi-annually in arrears on each Interest Payment Date, beginning on the first Interest Payment Date set forth in the certificate representing such Note, to the Holder of such Note as of the Close of Business on the immediately preceding Regular Record Date. Stated Interest, and, if applicable, Additional Interest and Special Interest, on the Notes will be computed on the basis of a 360-day year comprised of twelve 30-day months.

  • Cessation of Accrual of Interest Except as provided in Sections 4.02(D), 4.03(E) or 5.02(D), interest will cease to accrue on each Note from, and including, the date that such Note is deemed, pursuant to this Section 2.18, to cease to be outstanding, unless there occurs a default in the payment or delivery of any cash or other property due on such Note.

  • Accrual of Interest and Maturity; Evidence of Indebtedness (i) Swing Line Lender shall maintain in accordance with its usual practice an account or accounts evidencing indebtedness of the Borrower to Swing Line Lender resulting from each Swing Line Advance from time to time, including the amount and date of each Swing Line Advance, its Applicable Interest Rate, its Interest Period, if any, and the amount and date of any repayment made on any Swing Line Advance from time to time. The entries made in such account or accounts of Swing Line Lender shall be prima facie evidence, absent manifest error, of the existence and amounts of the obligations of the Borrower therein recorded; provided, however, that the failure of Swing Line Lender to maintain such account, as applicable, or any error therein, shall not in any manner affect the obligation of the Borrower to repay the Swing Line Advances (and all other amounts owing with respect thereto) in accordance with the terms of this Agreement.

  • Section 310 Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

  • Determination of Interest (a) The Administrative Agent shall determine the Interest (including unpaid Interest related thereto, if any, due and payable on a prior Payment Date) to be paid by the Borrower on each Payment Date for the related Accrual Period and shall advise the Collateral Agent, the Collateral Manager and the Borrower thereof on the third Business Day prior to such Payment Date.

  • Capitalization of Interest The Mortgage Note does not by its terms provide for the capitalization or forbearance of interest.

  • Calculation of interest The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable:

  • Interest Limitation It is the intention of the Company to conform strictly to all applicable usury laws and any subsequent revisions, repeals or judicial interpretations thereof. Accordingly, if the transactions contemplated hereby would be usurious under any applicable law then, in that event, notwithstanding anything to the contrary in the Securities or this Indenture, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under applicable law with respect to a Security shall under no circumstances exceed the maximum amount allowed by applicable law, and any excess shall be credited to the principal amount of such Security (or, if the principal amount of such Security shall have been paid in full, refunded to the Company), to the extent permitted by applicable law; and (ii) in the event that the maturity of any Security is accelerated or in the event of any redemption of such Security, then such consideration that constitutes interest under applicable law may never include more than the maximum amount allowed by applicable law, and any excess shall be credited to the principal amount of such Security (or, if the principal amount of such Security shall be paid in full, refunded to the Company), to the extent permitted by applicable law. All calculations made to compute the rate of interest with respect to a Security for the purpose of determining whether such rate exceeds the maximum amount allowed by applicable law shall be made, to the extent permitted by such applicable law, by allocating and spreading during the period of the full stated term of such Security all interest any time contracted for, taken, reserved, charged or received by such Holder or by the Trustee on behalf of any such Holder in connection therewith so that the amount or rate of interest charged for any and all periods of time during the term of the Security does not exceed the maximum amount or rate of interest allowed to be charged by law during the relevant period of time. Notwithstanding any of the foregoing, if at any time applicable laws shall be changed so as to permit a higher rate or amount of interest to be charged than that permitted prior to such change, then unless prohibited by law, references in this Indenture or any Security to "applicable law" when used in the context of determining the maximum interest or rate of interest that can be charged shall be deemed to refer to such applicable law as so amended to allow the greater amount or rate of interest. The right to accelerate maturity of any Security does not include the right to accelerate any interest which has not otherwise accrued to the date of such acceleration, provided, however, that the foregoing shall not prohibit the continuing accrual after acceleration of interest in accordance with the terms of the Indenture and such Security.

  • Termination of Investment The obligation of the Investor to make an Advance to the Company pursuant to this Agreement shall terminate permanently (including with respect to an Advance Date that has not yet occurred) in the event that (i) there shall occur any stop order or suspension of the effectiveness of the Registration Statement for an aggregate of fifty (50) Trading Days, other than due to the acts of the Investor, during the Commitment Period, and (ii) the Company shall at any time fail materially to comply with the requirements of Article VI and such failure is not cured within thirty (30) days after receipt of written notice from the Investor, provided, however, that this termination provision shall not apply to any period commencing upon the filing of a post-effective amendment to such Registration Statement and ending upon the date on which such post effective amendment is declared effective by the SEC.

  • Transfer of Interest Amount The Transfer of the Interest Amount will be made on the second Local Business Day following the end of each calendar month and on any other Local Business Day on which Posted Collateral in the form of Cash is Transferred to the Pledgor pursuant to Paragraph 3(b); provided, however, that the obligation of Party B to Transfer any Interest Amount to Party A shall be limited to the extent that Party B has earned and received such funds and such funds are available to Party B.

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