Computation of Interest, Fees, Yield Protection. All interest (other than interest in respect of Base Rate Loans at times when the Base Rate is based on the Prime Rate), as well as fees and other charges calculated on a per annum basis, shall be computed for the actual days elapsed, based on a year of 360 days. Interest in respect of Base Rate Loans at times when the Base Rate is based on the Prime Rate shall be calculated for the actual days elapsed, based on a year of 365 days (or 366 days as applicable). Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to amounts payable by Borrower under Section 3.4, 3.6, 3.7, 3.9 or 5.8 that is submitted to Borrower by Agent or the affected Lender shall be final, conclusive and binding for all purposes, absent manifest error, and Borrower shall pay such amounts to the appropriate party within ten (10) Business Days following receipt of the certificate.
Appears in 3 contracts
Sources: Loan and Security Agreement (Summit Midstream Partners, LP), Loan and Security Agreement (Summit Midstream Partners, LP), Loan and Security Agreement (Summit Midstream Partners, LP)
Computation of Interest, Fees, Yield Protection. All interest (other than interest in respect of Base Rate Loans at times when the Base Rate is based on the Prime Rate)interest, as well as fees and other charges calculated on a per annum basis, shall be computed for the actual days elapsed, elapsed based on a year of 360 days. Interest in respect , except that interest computed by reference to clause (b) of the definition of Base Rate Loans at times when the Base Rate is based shall be computed on the Prime Rate shall be calculated for the actual days elapsed, based on basis of a year of 365 days (or 366 days as applicablein a leap year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid. Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to amounts payable by Borrower under Section 3.4, 3.6, 3.7, 3.9 or 5.8 that is 5.9, submitted to Borrower by Agent or the affected Lender shall be final, conclusive and binding for all purposes, absent manifest error, and Borrower shall pay such amounts to the appropriate party within ten (10) Business Days 10 days following receipt of the certificate.
Appears in 1 contract
Sources: Loan, Security and Guarantee Agreement (Fitlife Brands, Inc.)
Computation of Interest, Fees, Yield Protection. All interest (other than interest in respect of Base Rate Loans at times when the Base Rate is based on the Prime Rate)LIBOR Loans, as well as fees and other charges calculated on a per annum basis, basis shall be computed for the actual days elapsed, based on a year of 360 days. Interest Fees, interest and charges in respect of Domestic Base Rate Loans at times when the or UK Base Rate is based on the Prime Rate Loans shall be calculated for the actual days elapsed, based on a year of 365 days (or 366 days as applicable)) and shall be payable in Dollars or Pounds Sterling, as applicable. Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to setting forth amounts payable by Borrower Borrowers under Section 3.4, 3.6, 3.7, 3.9 or 5.8 that is 5.9, submitted to Borrower Agent by Agent or the affected Lender Lender, as applicable, shall be final, conclusive and binding for all purposes, absent manifest error, and Borrower Borrowers shall pay such amounts to the appropriate party within ten (10) 10 Business Days following receipt of the certificate.
Appears in 1 contract
Sources: Loan and Security Agreement (Commercial Vehicle Group, Inc.)
Computation of Interest, Fees, Yield Protection. All interest (other than interest in respect of Base Rate Loans at times when the Base Rate is based on the Prime Rate)interest, as well as fees and other charges calculated on a per annum basis, shall be computed for the actual days elapsed, elapsed based on a year of 360 days. Interest in respect , except that interest computed by reference to clause (b) of the definition of Base Rate Loans at times when the Base Rate is based shall be computed on the Prime Rate shall be calculated for the actual days elapsed, based on basis of a year of 365 days (or 366 days as applicablein a leap year). Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to amounts payable by Borrower Borrowers under Section 3.4, 3.6, 3.7, 3.9 or 5.8 that is 5.9, submitted to Borrower Agent by Agent or the affected Lender shall be final, conclusive and binding for all purposes, absent manifest error, and Borrower Borrowers shall pay such amounts to the appropriate party within ten (10) Business Days 10 days following receipt of the certificate.
Appears in 1 contract
Sources: Loan, Security and Guarantee Agreement (AutoWeb, Inc.)
Computation of Interest, Fees, Yield Protection. All interest (other than interest in respect of Base Rate Loans at times when the Base Rate is based on the Prime Rate)interest, as well as fees and other charges calculated on a per annum basis, shall be computed for the actual days elapsed, based on a year of 360 days. Interest , provided that in respect the case of interest on Loans computed by reference to the U.S. Base Rate Loans at times when the U.S. Base Rate is based on the Prime Rate shall Rate, interest will be calculated for determined on the actual days elapsed, based on basis of a year of 365 days (or 366 days as applicablein a leap year). Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to amounts payable by Borrower Borrowers under Section 3.4, 3.6, 3.7, 3.9 or 5.8 that is 5.8, submitted to a Borrower Agent by Agent or the affected Lender shall be final, conclusive and binding for all purposes, absent manifest error, and Borrower Borrowers shall pay such amounts to the appropriate party within ten (10) Business Days 10 days following receipt of the certificate.
Appears in 1 contract
Sources: Loan, Security and Guaranty Agreement (Hyster-Yale Materials Handling, Inc.)
Computation of Interest, Fees, Yield Protection. All interest (other than interest in respect of Base Rate Loans at times when the Base Rate is based on the Prime Rate)interest, as well as fees and other charges calculated on a per annum basis, shall be computed for the actual days elapsed, based on a year of 360 days. Interest three hundred sixty (360) days in respect the case of Base Rate Loans at times when the Base Rate is based on the Prime Rate shall be calculated for the actual days elapsed, based on a year of 365 any LIBOR Loan and three hundred and sixty-five (365) days (or 366 three hundred and sixty-six (366) days as applicable)in a leap year) in the case of any Base Rate Loan. Each determination by Administrative Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All fees shall be fully earned when due and shall not be subject to rebaterebate or refund, refund or prorationnor subject to proration except as specifically provided herein. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for the use, forbearance or detention of money. A certificate as to amounts payable by Borrower Borrowers under Section Sections 3.4, 3.6, 3.7, 3.9 or 5.8 that is 5.10, submitted to Borrower Agent by Administrative Agent or the affected Lender Lender, as applicable, shall be final, conclusive and binding for all purposes, absent manifest error, and Borrower Borrowers shall pay such amounts to the appropriate party within ten (10) Business Days days following receipt of the certificate.
Appears in 1 contract
Sources: Loan and Security Agreement (Spectrum Brands, Inc.)