Common use of Calculation and Payment Clause in Contracts

Calculation and Payment. Interest on Base Rate Loans shall be calculated on the basis of a 365-6-day year for the actual number of days elapsed. Interest on LIBOR Loans, including amounts due under Subsection 1.4, shall be calculated on the basis of a 360-day year for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a Base Rate Loan and the first day of an Interest Period shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and the last day of an Interest Period shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one day’s interest shall be charged. Interest accruing on Base Rate Loans is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (iii) the Revolver Expiration Date, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1) the last day of each applicable Interest Period; (2) if the Interest Period is longer than three months, on each three-month anniversary of the commencement date of such Interest Period; (3) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (4) the Revolver Expiration Date, whether by acceleration or otherwise, with respect to the principal to be repaid.

Appears in 2 contracts

Samples: Credit Agreement (Atlantic Tele Network Inc /De), Credit Agreement (ATN International, Inc.)

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Calculation and Payment. Interest on Base Rate LIBOR Loans and all other Obligations and the amount of any fees set forth in Subsection 1.4 shall be calculated on the basis of a 365-6-three hundred sixty (360) day year for the actual number of days elapsed. Interest on LIBOR Loans, including amounts due under Subsection 1.4, the Base Rate Loans shall be calculated on the basis of a 360three hundred sixty-five or -six (365-6) day year for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a Base Rate Loan and the first day of an Interest Period with respect to a LIBOR Loan shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and the last day of an Interest Period with respect to a LIBOR Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day’s interest shall be charged. Interest accruing on the Base Rate Loans Loan is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (iii) the Revolver applicable Maturity Date or the Revolving Loan Expiration Date, as the case may be, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1i) the last day of each applicable Interest Period; (2ii) if the Interest Period is longer than three (3) months, on each three-month anniversary of the commencement date of such Interest Period; (3iii) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (4iv) the Revolver applicable Maturity Date or the Revolving Loan Expiration Date, as the case may be, whether by acceleration or otherwise, with respect to the principal to be repaid.

Appears in 2 contracts

Samples: Credit Agreement, Credit Agreement

Calculation and Payment. Interest on Base Rate Loans shall be calculated on the basis of a 365-6-day year for the actual number of days elapsed. Interest on LIBOR Loans, including amounts due under Subsection 1.4, shall be calculated on the basis of a 360-day year for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a Base Rate Loan and the first day of an a LIBOR Interest Period shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and the last day of an a LIBOR Interest Period shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day’s interest shall be charged. Interest accruing on Base Rate Loans is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv1.1(G)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (iii) the applicable Term Loan Maturity Date or the Revolver Expiration Date, as the case may be, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1) the last day of each applicable LIBOR Interest Period; (2) if the LIBOR Interest Period is longer than three (3) months, on each three-month anniversary of the commencement date of such LIBOR Interest Period; (3) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (4) the applicable Term Loan Maturity Date or the Revolver Expiration Date, as the case may be, whether by acceleration or otherwise, with respect to the principal to be repaid.

Appears in 2 contracts

Samples: Credit Agreement (Atlantic Tele Network Inc /De), Credit Agreement (Atlantic Tele Network Inc /De)

Calculation and Payment. Interest on Base Rate Loans shall be calculated on the basis of a 365-6-day year for the actual number of days elapsed. Interest on LIBOR Loansall other Loans and Obligations, including amounts due under Subsection 1.4, shall be calculated on the basis of a 360-day year for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan or the Fixed Term Loan while subject to the Fixed Interest Rate to a Base Rate Loan and the first day of an a LIBOR Interest Period shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and the last day of an a LIBOR Interest Period or the Fixed Term Loan Termination Date shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day’s 's interest shall be charged. The Fixed Interest Rate accruing on the Fixed Term Loan is payable monthly in arrears on each of the following dates or events: (i) the 20th day of the following calendar month; (ii) the Fixed Term Loan Termination Date; and (iii) the Fixed Term Loan Maturity Date, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on Base Rate Loans is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (iii) the applicable Term Loan Maturity Date or the Revolver Expiration Date, as the case may be, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1) the last day of each applicable LIBOR Interest Period; (2) if the LIBOR Interest Period is longer than three (3) months, on each three-month anniversary of the commencement date of such LIBOR Interest Period; (3) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (4) the applicable Term Loan Maturity Date or the Revolver Expiration Date, as the case may be, whether by acceleration or otherwise, with respect to the principal to be repaid.

Appears in 1 contract

Samples: Credit Agreement (Shenandoah Telecommunications Co/Va/)

Calculation and Payment. Interest on Base Rate Loans shall be calculated on the basis of a 365-6-day year for the actual number of days elapsed. Interest on LIBOR LoansLoans and all other Obligations, including amounts due under Subsection 1.4, shall be calculated on the basis of a 360-day year for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a Base Rate Loan and the first day of an Interest Period with respect to a LIBOR Loan shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and the last day of an Interest Period with respect to a LIBOR Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one day’s interest shall be charged. Interest accruing on Base Rate Loans is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (iii) the Revolver Expiration Term Loan Maturity Date, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1i) the last day of each applicable Interest Period; (2ii) if the Interest Period is longer than three months, on each three-month anniversary of the commencement date of such Interest Period; (3iii) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (4iv) the Revolver Expiration Term Loan Maturity Date, whether by acceleration or otherwise, with respect to the principal to be repaid.

Appears in 1 contract

Samples: Credit Agreement (Citizens Communications Co)

Calculation and Payment. Interest on Base Rate all Loans shall be calculated on and all other ----------------------- Obligations and the basis amount of a 365-6-day year for the actual number of days elapsed. Interest on LIBOR Loans, including amounts due under any fees set forth in Subsection 1.4, 1.4 shall be calculated on the basis of a 360-day year (of twelve 30-day months) for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a the Base Rate Loan and Loan, the first day of an Interest Period with respect to a LIBOR Loan and the first day of a Quoted Rate Period with respect to a Quoted Rate Loan shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and Loan, the last day of an Interest Period with respect to a LIBOR Loan and the last day of a Quoted Rate Period with respect to a Quoted Rate Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one day’s 's interest shall be charged. Interest accruing on the Base Rate Loans Loan and each Quoted Rate Loan is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; , (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; ) and (iii) the Revolver Term Loan Maturity Date or the Revolving Loan Expiration Date, as applicable, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1i) the last day of each applicable Interest Period; , (2ii) if the Interest Period is longer than three months, on each three-month anniversary of the commencement date of such Interest Period; , (3iii) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; ) and (4iv) the Revolver Term Loan Maturity Date or the Revolving Loan Expiration Date, as applicable, whether by acceleration or otherwise, with respect to the principal to be repaid.

Appears in 1 contract

Samples: Credit Agreement (Surewest Communications)

Calculation and Payment. Interest on Base Rate all LIBOR Loans, the Assumed CEI Term Loans and all other Obligations, including, without limitation, the amount of any fees set forth in Subsection 1.4, shall be calculated daily on the basis of a 365-6-three hundred sixty (360) day year for the actual number of days elapsed. Interest ; provided, that interest on LIBOR Loans, including amounts due under Subsection 1.4, the Base Rate Loans shall be calculated daily on the basis of a 360three hundred sixty-five or -six (365-6) day year for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a Base Rate Loan and the first day of an Interest Period with respect to a LIBOR Loan shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and the last day of an Interest Period with respect to a LIBOR Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day’s interest shall be charged. Interest accruing on Base Rate Loans and the Assumed CEI Term Loans is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; , (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; , and (iii) the Revolver Term Loan A Maturity Date, the Term Loan B Maturity Date, the Revolving Loan Expiration Date or the Assumed CEI Term Loans Maturity Date, as applicable, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1i) the last day of each applicable Interest Period; , (2ii) if the Interest Period is longer than three (3) months, on each three-month anniversary of the commencement date of such Interest Period; , (3iii) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; , and (4iv) the Revolver Term Loan A Maturity Date, the Term Loan B Maturity Date or the Revolving Loan Expiration Date, as applicable, whether by acceleration or otherwise, with respect . Interest accruing on the Incremental Term Loans shall be payable as provided in the supplement to this Agreement establishing the principal to be repaidIncremental Term Loan Facility.

Appears in 1 contract

Samples: Credit Agreement (D&e Communications Inc)

Calculation and Payment. Interest on Base Rate all Loans shall be calculated on and all other Obligations and the basis amount of a 365-6-day year for the actual number of days elapsed. Interest on LIBOR Loans, including amounts due under any fees set forth in Subsection 1.4, 1.4 shall be calculated on the basis of a 360-day year (of twelve 30-day months) for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a the Base Rate Loan and or a Swingline Loan, the first day of an Interest Period with respect to a LIBOR Loan and the first day of a Quoted Rate Period with respect to a Quoted Rate Loan shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and Loan, the last day of an Interest Period with respect to a LIBOR Loan and the last day of a Quoted Rate Period with respect to a Quoted Rate Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one day’s 's interest shall be charged. Interest accruing on the Base Rate Loans Loan, and Swingline Loan and each Quoted Rate Loan is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; , (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; ) and (iii) the Revolver Term Loan Maturity Date or the Revolving Loan Expiration Date, as applicable, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1i) the last day of each applicable Interest Period; , (2ii) if the Interest Period is longer than three months, on each three-month anniversary of the commencement date of such Interest Period; , (3iii) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; ) and (4iv) the Revolver Term Loan Maturity Date or the Revolving Loan Expiration Date, as applicable, whether by acceleration or otherwise, with respect to the principal to be repaid.

Appears in 1 contract

Samples: Credit Agreement (Surewest Communications)

Calculation and Payment. Interest on Base Rate Loans shall be calculated on the basis of a 365-6-day year for the actual number of days elapsed. Interest on LIBOR LoansLoans and all other Obligations, including amounts due under Subsection 1.4, shall be calculated on the basis of a 360-day year for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a Base Rate Loan and the first day of an Interest Period with respect to a LIBOR Loan shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and the last day of an Interest Period with respect to a LIBOR Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one day’s 's interest shall be charged. Interest accruing on Base Rate Loans is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (iii) the Revolver Expiration Term Loan Maturity Date, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1i) the last day of each applicable Interest Period; (2ii) if the Interest Period is longer than three months, on each three-month anniversary of the commencement date of such Interest Period; (3iii) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (4iv) the Revolver Expiration Term Loan Maturity Date, whether by acceleration or otherwise, with respect to the principal to be repaid.

Appears in 1 contract

Samples: Credit Agreement (Citizens Communications Co)

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Calculation and Payment. Interest on Base all LIBOR or Long-Term Fixed Rate Loans and all other Obligations and the amount of any fees set forth in Subsection 1.4 shall be calculated daily on the basis of a 365-6-three hundred sixty (360) day year for the actual number of days elapsed. Interest The interest on LIBOR Loans, including amounts due under Subsection 1.4, the Base Rate Loans shall be calculated daily on the basis of a 360three hundred sixty-five or -six (365-6) day year for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a Base Rate Loan and the first day of an Interest Period with respect to a LIBOR or Long-Term Fixed Rate Loan shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and the last day of an Interest Period with respect to a LIBOR or Long-Term Fixed Rate Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day’s 's interest shall be charged. Interest accruing on Base Rate Loans and Long-Term Fixed Rate Loans is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; , (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (iii) the Revolver last day of each applicable Interest Period for Long-Term Fixed Rate Loans, and (iv) the Term Loan A Maturity Date, the Term Loan B Maturity Date or the Revolving Loan Expiration Date, as applicable, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR or Long-Term Fixed Rate Loan is payable in arrears on each of the following dates or events: (1i) the last day of each applicable Interest Period; , (2ii) if the Interest Period is longer than three (3) months, on each three-month anniversary of the commencement date of such Amended and Restated Credit Agreement/D & E Communications, Inc. Interest Period; , (3iii) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; ) and (4iv) the Revolver Term Loan A Maturity Date, the Term Loan B Maturity Date or the Revolving Loan Expiration Date, as applicable, whether by acceleration or otherwise, with respect to the principal to be repaid.

Appears in 1 contract

Samples: Credit Agreement (D&e Communications Inc)

Calculation and Payment. Interest on Base Rate Loans shall be calculated on the basis of a 365-6365/366-day year for the actual number of days elapsed. Interest on LIBOR LoansLoans and all other Obligations, including amounts due under Subsection 1.4, shall be calculated on the basis of a 360-day year for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a Base Rate Loan and the first day of an Interest Period with respect to a LIBOR Loan shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and the last day of an Interest Period with respect to a LIBOR Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one day’s interest shall be charged. Interest accruing on Base Rate Loans is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (iii) the Revolver Expiration Term Loan Maturity Date, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1i) the last day of each applicable Interest Period; (2ii) if the Interest Period is longer than three months, on each three-month anniversary of the commencement date of such Interest Period; (3iii) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (4iv) the Revolver Expiration Term Loan Maturity Date, whether by acceleration or otherwise, with respect to the principal to be repaid.

Appears in 1 contract

Samples: Credit Agreement (Frontier Communications Corp)

Calculation and Payment. Interest on Base all LIBOR or Long-Term Fixed Rate Loans and all other Obligations and the amount of any fees set forth in Subsection 1.4 shall be calculated daily on the basis of a 365-6-three hundred sixty (360) day year for the actual number of days elapsed. Interest The interest on LIBOR Loans, including amounts due under Subsection 1.4, the Base Rate Loans shall be calculated daily on the basis of a 360three hundred sixty-five or -six (365-6) day year for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a Base Rate Loan and the first day of an Interest Period with respect to a LIBOR or Long-Term Fixed Rate Loan shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and the Credit Agreement/D & E Communications, Inc. last day of an Interest Period with respect to a LIBOR or Long-Term Fixed Rate Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day’s 's interest shall be charged. Interest accruing on Base Rate Loans and Long-Term Fixed Rate Loans is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; , (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; and (iii) the Revolver last day of each applicable Interest Period for Long-Term Fixed Rate Loans, and (iv) the Term Loan Maturity Date or the Revolving Loan Expiration Date, as applicable, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR or Long-Term Fixed Rate Loan is payable in arrears on each of the following dates or events: (1i) the last day of each applicable Interest Period; , (2ii) if the Interest Period is longer than three (3) months, on each three-month anniversary of the commencement date of such Interest Period; , (3iii) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; ) and (4iv) the Revolver Term Loan Maturity Date or the Revolving Loan Expiration Date, as applicable, whether by acceleration or otherwise, with respect to the principal to be repaid.

Appears in 1 contract

Samples: Credit Agreement (D&e Communications Inc)

Calculation and Payment. Interest on Base Rate all LIBOR Loans, the Assumed CEI Term Loans and all other Obligations, including, without limitation, the amount of any fees set forth in Subsection 1.4, shall be calculated daily on the basis of a 365-6-three hundred sixty (360) day year for the actual number of days elapsed. Interest ; provided, that interest on LIBOR Loans, including amounts due under Subsection 1.4, the Base Rate Loans shall be calculated daily on the basis of a 360three hundred sixty-five or -six (365-6) day year for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a Base Rate Loan and the first day of an Interest Second Amended and Restated Credit Agreement/D&E Communications, Inc. Period with respect to a LIBOR Loan shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan and the last day of an Interest Period with respect to a LIBOR Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day’s interest shall be charged. Interest accruing on Base Rate Loans and the Assumed CEI Term Loans is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; , (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; , and (iii) the Revolver Term Loan A Maturity Date, the Term Loan B Maturity Date, the Revolving Loan Expiration Date or the Assumed CEI Term Loans Maturity Date, as applicable, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1i) the last day of each applicable Interest Period; , (2ii) if the Interest Period is longer than three (3) months, on each three-month anniversary of the commencement date of such Interest Period; , (3iii) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; , and (4iv) the Revolver Term Loan A Maturity Date, the Term Loan B Maturity Date or the Revolving Loan Expiration Date, as applicable, whether by acceleration or otherwise, with respect . Interest accruing on the Incremental Term Loans shall be payable as provided in the supplement to this Agreement establishing the principal to be repaidIncremental Term Loan Facility.

Appears in 1 contract

Samples: Credit Agreement (D&e Communications Inc)

Calculation and Payment. Interest on Base Rate all Loans shall be calculated on and all other Obligations and the basis amount of a 365-6-day year for the actual number of days elapsed. Interest on LIBOR Loans, including amounts due under any fees set forth in Subsection 1.4, 1.4 shall be calculated on the basis of a 360-day year (of twelve 30-day months) for the actual number of days elapsed. The date of funding or conversion of a LIBOR Loan to a the Base Rate Loan or a Swingline Loan and the first day of an Interest Period with respect to a LIBOR Loan shall be included in the calculation of interest. The date of payment (as determined in Subsection 1.5) of any Loan, the last day of an Interest Period with respect to a LIBOR Loan and the last day of an Interest the Fixed Rate Period shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one day’s interest shall be charged. Interest accruing on each Base Rate Loans Loan and Swingline Loan and on the Fixed Rate Loan is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; , (ii) the prepayment (including the payment of any Swingline Loan pursuant to Subsection 1.1(F)(iv)) of such Loan (or portion thereof), to the extent accrued on the principal prepaid; ) and (iii) the Revolver Term Loan A Maturity Date, the Term Loan B Maturity Date or the Revolving Loan Expiration Date, as applicable, whether by acceleration or otherwise, with respect to the principal to be repaid. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (1i) the last day of each applicable Interest Period; , (2ii) if the Interest Period is longer than three months, on each three-month anniversary of the commencement date of such Interest Period; , (3iii) the prepayment of such Loan (or portion thereof), to the extent accrued on the principal prepaid; ) and (4iv) the Revolver Term Loan A Maturity Date, the Term Loan B Maturity Date or the Revolving Loan Expiration Date, as applicable, whether by acceleration or otherwise, with respect . Interest accruing pursuant to the principal to be repaidSubsection 1.2(E) is payable on demand.

Appears in 1 contract

Samples: Credit Agreement (Surewest Communications)

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