Common use of Interest Accruals Clause in Contracts

Interest Accruals. Except as otherwise set forth herein, and subject to Section 2.5(b) below, each Loan shall bear interest on the unpaid principal amount thereof in relation to each Interest Period from the date made through repayment (whether by acceleration or otherwise) thereof at an amount in USD equal to the sum of the daily amounts during such Interest Period obtained by multiplying (A) the Benchmark applicable to such Loan for such Interest Period from time to time plus the Spread and (B) the Loan Amount for such day (in relation to each Loan and each Interest Period the “Base Accrued Interest”).

Appears in 2 contracts

Sources: Credit Agreement (New Mountain Private Credit Fund), Credit Agreement (New Mountain Guardian III BDC, L.L.C.)

Interest Accruals. Except as otherwise set forth herein, and subject to Section 2.5(b) below, each Loan shall bear interest on the unpaid principal amount thereof in relation to each Interest Period from the date made through repayment (whether by acceleration or otherwise) thereof at an amount in USD equal to the sum of the daily amounts during such Interest Period obtained by multiplying (A) the Benchmark applicable to such Loan for such Interest Period from time to time plus the Spread and (B) the Loan Interest Reference Amount for such day (in relation to each Loan and each Interest Period the “Base Accrued Interest”).

Appears in 2 contracts

Sources: First Amendment to First Amended and Restated Credit Agreement (New Mountain Private Credit Fund), Credit Agreement (New Mountain Private Credit Fund)

Interest Accruals. Except as otherwise set forth herein, and subject to Section 2.5(b) below, each Loan shall bear interest on the unpaid principal amount thereof in relation to each Interest Period from the date made through repayment (whether by acceleration or otherwise) thereof at an amount in USD equal to the sum of the daily amounts during such Interest Period obtained by multiplying (A) the Benchmark applicable to such Loan for such Interest Period from time to time plus the Spread and (B) the Loan Interest ReferenceLoan Amount for such day (in relation to each Loan and each Interest Period the “Base Accrued Interest”).

Appears in 1 contract

Sources: Second Amendment to First Amended and Restated Credit Agreement (New Mountain Private Credit Fund)