Interest on Amounts Disbursed under Letters of Credit Sample Clauses

Interest on Amounts Disbursed under Letters of Credit. The Canadian Borrower agrees to pay to the applicable Issuing Bank interest on any and all amounts disbursed after the occurrence of a Default or Event of Default which has not been cured or waived as provided in this Agreement by such Issuing Bank under any Letter of Credit issued for its account from the date of disbursement until reimbursed in full at the rates mentioned in Section 11.8.1. Interest accrued hereunder shall be payable on demand. For the purposes of computing the number of days for which interest shall accrue on amounts disbursed under Letters of Credit, payments received by the Issuing Bank after 1:00 P.M., Toronto time, shall be deemed to have been received on the next following Banking Day for payments required to be made in CDollars or on the next following Business Day for payments required to be made in USDollars. All payments (including prepayments) by the Canadian Borrower to an Issuing Bank, whether on account of the Canadian Borrower’s Reimbursement Obligation or interest thereon, on account of any fees due hereunder or otherwise, shall be made in the currency of the Letter of Credit and in immediately available funds without set off, compensation or counterclaim to the Issuing Bank.
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Interest on Amounts Disbursed under Letters of Credit. The Borrower agrees to pay to the Lender interest on any and all amounts drawn under any Letter of Credit until reimbursed in full at a fluctuating rate per annum equal to the rate applicable to Revolving Credit Loans. Interest accrued hereunder shall be payable on demand. All payments by the Borrower to the Lender shall be made in lawful currency of the United States and in immediately available funds without setoff or counterclaim to the Lender at its office specified in Subsection 9.3.
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Interest on Amounts Disbursed under Letters of Credit. The Borrower agrees to pay to the Issuing Bank interest on any and all amounts disbursed by the Issuing Bank under any Letter of Credit from the date of disbursement until reimbursed in full at the Prime Rate, if such Letter of Credit was in CDollars, or at the US Base Rate, if such Letter of Credit was in USDollars. Interest accrued hereunder shall be payable on demand. For the purposes of computing the number of days for which interest shall accrue on amounts disbursed under Letters of Credit, payments received by the Issuing Bank after 1:00 P.M., Montréal time, shall be deemed to have been received on the next following Banking Day. All payments (including prepayments) by the Borrower to the Issuing Bank, whether on account of the Borrower’s reimbursement obligation under this Section 9.10 or interest thereon, on account of any fees due hereunder or otherwise, shall be made in the currency of the Letter of Credit and in immediately available funds without set off, compensation or counterclaim to the Issuing Bank.
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Interest on Amounts Disbursed under Letters of Credit. Subject to Section 7.8, the Borrower agrees to pay to the Administrative Agent interest on any and all amounts disbursed by the Administrative Agent under any Letter of Credit from the date of disbursement until reimbursed in full at the Canadian Rate for Letters of Credit in CDollars and at the Canadian Base Rate for Letters of Credit in USDollars. Interest accrued hereunder shall be payable on demand. For the purposes of computing the number of days for which interest shall accrue on amounts disbursed under Letters of Credit, payments received by the Administrative Agent after 1:00 PM., Montreal time, shall be deemed to have been received on the next following Business Day. All payments (including prepayments) by the Borrower to the Administrative Agent, whether on account of the Borrower's Reimbursement Obligation or interest thereon, on account of any fees due hereunder or otherwise, shall be made in CDollars for Letters of Credit in CDollars and in USDollars for Letters of Credit in USDollars and in immediately available funds without set off, compensation or counterclaim to the Administrative Agent.
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Interest on Amounts Disbursed under Letters of Credit. Subject to Section 7.8, the Borrower agrees to pay to the Administrative Agent interest on any and all amounts disbursed by the Administrative Agent under any Letter of Credit from the date of disbursement until reimbursed in full at the US Base Rate. Interest accrued hereunder shall be payable on demand. For the purposes of computing the number of days for which interest shall accrue on amounts disbursed under Letters of Credit, payments received by the Administrative Agent after 1:00 PM., Montreal time, shall be deemed to have been received on the next following Business Day. All payments (including prepayments) by the Borrower to the Administrative Agent, whether on account of the Borrower's Reimbursement Obligation or interest thereon, on account of any fees due hereunder or otherwise, shall be made in USDollars for Letters of Credit in USDollars and in immediately available funds without set off, compensation or counterclaim to the Administrative Agent.
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Related to Interest on Amounts Disbursed under Letters of Credit

  • Interest on Swing Loans Each Swing Loan shall bear interest until maturity (whether by acceleration or otherwise) at a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit as from time to time in effect (computed on the basis of a year of 360 days for the actual number of days elapsed) or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 360 days for the actual number of days elapsed). Interest on each Swing Loan shall be due and payable by the Borrower on each Interest Payment Date and at maturity (whether by acceleration or otherwise).

  • Interest on Swingline Loans Subject to the provisions of Section 2.8, Swingline Loans shall bear interest at a per annum rate equal to the Alternate Base Rate plus the Applicable Margin for Revolving Loans that are Alternate Base Rate Loans. Interest on Swingline Loans shall be payable in arrears on each Interest Payment Date.

  • Interest on Revolving Loans The outstanding principal amount of each Revolving Loan made by each Lender shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as such Revolving Loan is a Base Rate Loan, the Base Rate plus the Applicable Revolving Loan Margin in effect from time to time and (ii) during such periods as such Revolving Loan is a Eurodollar Loan, the relevant Adjusted Eurodollar Rate for such Eurodollar Loan for the applicable Interest Period plus the Applicable Revolving Loan Margin in effect from time to time.

  • Payment of Interest on the Credit Extensions (a) Interest Rate.

  • Interest on Revolving Credit Advances Each Borrower shall pay interest on the unpaid principal amount of each Revolving Credit Advance made to such Borrower owing to each Lender from the date of such Revolving Credit Advance until such principal amount shall be paid in full, at the following rates per annum:

  • Interest on Revolving Credit Loans Except as otherwise provided in Section 5.11,

  • Date and Denomination of Notes; Payments of Interest and Defaulted Amounts (a) The Notes shall be issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof. Each Note shall be dated the date of its authentication and shall bear interest from the date specified on the face of such Note. Accrued interest on the Notes shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month.

  • Interest on Loans (a) Except as otherwise set forth herein, each Class of Loan shall bear interest on the unpaid principal amount thereof from the date made through repayment (whether by acceleration or otherwise) thereof as follows:

  • Interest on Advances Each Borrower shall pay interest on the unpaid principal amount of each Advance made to such Borrower by each Bank from the date of such Advance until such principal amount shall be paid in full, at the following rates per annum:

  • Payments Pursuant to Letters of Credit The Borrower agrees to reimburse immediately the Letter of Credit Issuer for any draw under any Letter of Credit and the Agent for the account of the Lenders upon any payment pursuant to any Credit Support, and to pay the Letter of Credit Issuer the amount of all other charges and fees payable to the Letter of Credit Issuer in connection with any Letter of Credit immediately when due, irrespective of any claim, setoff, defense or other right which the Borrower may have at any time against the Letter of Credit Issuer or any other Person. Each drawing under any Letter of Credit shall constitute a request by the Borrower to the Agent for a Borrowing of a Base Rate Revolving Loan in the amount of such drawing. The Funding Date with respect to such borrowing shall be the date of such drawing.

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