Common use of Fixed Interest Clause in Contracts

Fixed Interest. (a) Fixed Interest shall accrue and compound on a daily basis from the applicable Funding Date and shall be computed on the basis of a 360-day year of twelve (12) thirty (30)-day months and the actual days elapsed. (b) With respect to each Interest Payment Period, Fixed Interest on each Loan shall be payable by Borrower to Lender in arrears as follows: (i) During the period commencing on the Tranche A Funding Date and ending on the Interest Payment Date that is thirty-six (36) months after the Tranche A Funding Date occurs, on each Interest Payment Date, (A) an amount equal to the Cash Amount calculated with respect to the preceding Interest Payment Period shall be due and payable and (B) an amount equal to the Deferred Interest Amount calculated with respect to such Interest Payment Period shall be added to the Outstanding Principal Balance on and capitalized as of such Interest Payment Date. (ii) During the period commencing after the thirty-sixth (36th) Interest Payment Date after the Tranche A Funding Date occurs and ending on the applicable Maturity Date, Fixed Interest calculated with respect to the preceding Interest Payment Period shall be due and payable in full on each Interest Payment Date. (c) Notwithstanding anything to the contrary herein, in the event of any repayment or prepayment of any Loan (including principal payments due under Section 3.01), accrued Fixed Interest on the principal amount repaid or prepaid through and including the date of repayment or prepayment shall be payable on the date of such repayment or prepayment. CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[***]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.